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Old 09-09-2013, 08:43 AM
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Since the HDB market is going to collapse, as predicted by many analysts, it is better for you to sell your HDB flat. Then use the sales proceeds to pay down the loan on your two condos. Live in one condo and rent out the other one. Don't be greedy. As mentioned by other forumers, you are highly overleveraged, you are one of the overleveraged families mentioned in the papers. You risk losing all your properties if market collapses. Don't feel hurt by our harsh comments. The truth hurts.


Quote:
Originally Posted by Unregistered View Post
I have 2 condos rented out and choose to live in our HDB with my wife. We are easily contented and wants to simply, just not to simply live. We are between 35 to 40 yrs old.
No kids yet but planning for one.

Total property valued at $3 mil
Outstanding loan $1.5 mil
Net worth including cash and CPF about $2.2 mil

Gross Rental Income $7k
Monthly Housing Loan Instalment $5k
Working Household Income $12k
Monthly Expenditure $9k
Monthly Savings $5k

We bought the typical term insurance and critical illness coverage, medishield plus and riders.

Is our retirement plan secure say around 50 yrs old? Given that we keep the properties for passive income? Really sincere in hearing from wise people who have walked the path before. Thanks!
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