I think for the few of us who are above 50, who have invested in properties would have gained from their investment in one way or another. Either through sheer price appreciation or in my case enbloc sales. Those who were from the Farrer Court HUDC know what I am talking about.
Through sheer luck, both my investment properties went enbloc so much so that my friends are calling me serial enbloc-er. I am currently holding on to two more investment properties. In my view, one of which has a high chance of going enbloc. In the meantime I am just collecting rental income.
True, two of my friends retired after collecting enbloc windfalls, but the rest of us are still happily working. I mean, our work income is not insubstantial so why give up a golden goose?
Combined with the passive incomes, we are easily looking at net savings of above $350k yearly. It is like we could buy a $1m condo every 3 years.
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Originally Posted by Unregistered
Good plan. If you want to get more passive income, you can sell your current condo and buy a similar sized condo in a cheaper location.
We are of the same age group. I'm already retired because I made millions from my property investments. I got in at the right time and exited at the right time. Now you cannot make money from property investments. Weak market and oversupply.
My best investment is a landed property. I bought the landed property at its low in 2006 and sold after a few years when prices were going up. I made a lot of money. Now I stay in a condo (fully paid up) for retirement. The rest of my cash is invested and I'm earning good dividends. I now manage my investments actively to keep my mind active and to identify trends early before the market does.
In investments, timing is everything. Invest your time in learning how to invest. It's worth it.
Successful investing can speed up your retirement by 15 years! Earning money just from work means your retirement will be at 65 or later.
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