Originally Posted by Unregistered

55, stay home unemployed dad with 2 sons. Wife working part time. Home is a humble FH semi-d at Lentor, worth 3.5mil.

My income:
2 shophouses at little india, each valued at 3mil, rented out for a total of 40k per month.
One 2 bedders condo in Woodgrove, valued 1.3mil, rented out for 4k.
One studio apartment in Novena, valued at 1.2mil, rented out for 3k.

So my annual income is approx $560k thereabout based on my property portfolio with a net value of $8.5mil. My total net worth based on property is $12mil with maybe $3mil in cash, so total is maybe $15mil?

My greatest achievement is staying debt free. I've always believed that real estate is the key to wealth. Just look at the list of richest people. I don't dabble in stocks, I don't see myself in front of the monitor staring at numbers.

Got my big break buying the shophouses in late 90s for 500k each. At that time 800k can buy a condo and I remember very clearly a friend who bought a 4-story house at Bukit Timah for 1.8mil, so sinking my life savings then was a really big life-changing decision. Can't get those prices anymore now, glad things worked in my favour.

Used those shophouses as collateral to get bank loans to purchase my other property. Loans all fully paid. My monthly rental are all cash and banked in as savings.

Now I'm just accumulating more capital and wait for the property market to crash so I can go on another shopping spree. Hope to hit net worth $25mil by the time I'm 65, which is a realistic target in current economic climate.