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How much are you earning per annum?

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  #2321 (permalink)  
Old 10-05-2013, 02:46 PM
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Well yes...if you are more reasonable...probably, you can say if someone has a saving of $100K and not ($2 millions), then he prudently select a few good diversified REITs and a earn a $5K passive income per year....then try to save money from monthly income and add more into the REITs...

That is a more realistic picture...isn't it?
9 out of 10 people go broke and into big debts which they are unable to recover from, from buying shares. - Not saying that you can't acquire wealth from buying shares, but it's very unlikely if you are not experienced enough, and it takes more that just experience; but also discipline, patience and vision.

Anyone go broke from buying Real estate ? I doubt, if you know one... I'll like to meet him and learn his story.
People here can keep whining on how much you need to start before you have enough to pay a down payment for a Property, the GOAL of saving up for down payment for a property seems far seems unlikely. Have the burning desire to achieve it, write down a solid plan how you can save the amount. You don't have to be great to start, but you have to start to be great. Without a SOLID written-down goal, you can never achieve it.

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  #2322 (permalink)  
Old 10-05-2013, 03:03 PM
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9 out of 10 people go broke and into big debts which they are unable to recover from, from buying shares. - Not saying that you can't acquire wealth from buying shares, but it's very unlikely if you are not experienced enough, and it takes more that just experience; but also discipline, patience and vision.

Anyone go broke from buying Real estate ? I doubt, if you know one... I'll like to meet him and learn his story.
People here can keep whining on how much you need to start before you have enough to pay a down payment for a Property, the GOAL of saving up for down payment for a property seems far seems unlikely. Have the burning desire to achieve it, write down a solid plan how you can save the amount. You don't have to be great to start, but you have to start to be great. Without a SOLID written-down goal, you can never achieve it.
Easier said than done, I already own a HDB with 21 years loan left. now with all the property measure I need to pay 50% downpayment to buy one more condo.

Unless I buy really small shoebox apartment in ulu place, most condos even those in Sengkang, Pasir Ris, Woodlands, Jurong East etc are already >$1mil. How am I going to save up $500k+ in cash to downpayment a condo??? You say until as if write down SOLID goal means money will suddenly drop from the sky.

I am only making 60k gross annual currently. I save 15k which is 25% of income, this is already above national average.

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  #2323 (permalink)  
Old 10-05-2013, 03:03 PM
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Originally Posted by Unregistered View Post
Well yes...if you are more reasonable...probably, you can say if someone has a saving of $100K and not ($2 millions), then he prudently select a few good diversified REITs and a earn a $5K passive income per year....then try to save money from monthly income and add more into the REITs...

That is a more realistic picture...isn't it?
Not sure what you mean by this is a more realistic picture. I was just trying to explain how he could have got to where he is today, whereas you are giving an example of how to build up passive income. Maybe it's more like two sides of the same picture.

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  #2324 (permalink)  
Old 10-05-2013, 03:09 PM
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Easier said than done, I already own a HDB with 21 years loan left. now with all the property measure I need to pay 50% downpayment to buy one more condo.

Unless I buy really small shoebox apartment in ulu place, most condos even those in Sengkang, Pasir Ris, Woodlands, Jurong East etc are already >$1mil. How am I going to save up $500k+ in cash to downpayment a condo??? You say until as if write down SOLID goal means money will suddenly drop from the sky.

I am only making 60k gross annual currently. I save 15k which is 25% of income, this is already above national average.
Then you should start sourcing which country has the best ROI for real estate, I didn't make a statement property in SINGAPORE did i ?

This is the game, better know the rules and play it well.
Don't be offended PAL, you're misunderstanding the point I'm trying to make here, what I'm trying to say is that if you do not have a goal, you totally have no chance of achieving it.
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  #2325 (permalink)  
Old 10-05-2013, 03:36 PM
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Then you should start sourcing which country has the best ROI for real estate, I didn't make a statement property in SINGAPORE did i ?

This is the game, better know the rules and play it well.
Don't be offended PAL, you're misunderstanding the point I'm trying to make here, what I'm trying to say is that if you do not have a goal, you totally have no chance of achieving it.
Then in your opinion which country property is best ROI & affordable for an average singaporean PMET like me? Overseas property got many problems like politics, security, forex, loan interest etc. Which overseas property investment is as safe as a local property?

No point telling us to buy overseas property then nothing specific, this is like telling others to buy good share and never tell them which share is good.
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  #2326 (permalink)  
Old 10-05-2013, 05:46 PM
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Then in your opinion which country property is best ROI & affordable for an average singaporean PMET like me? Overseas property got many problems like politics, security, forex, loan interest etc. Which overseas property investment is as safe as a local property?

No point telling us to buy overseas property then nothing specific, this is like telling others to buy good share and never tell them which share is good.
In short, the three examples are rare examples that can't be replicated easily. Looking for property in other countries that has a better ROI? Again, it is easier said than done. Try investing in something that you are not familiar with is committing suicide basically. Do take note that investing in property in unfamiliar jurisdiction may entails all other kind of risk, such as political risk, policy change risk, financial monetary control etc....so....nothing is easy...

but some people has already admitted that it is just an encouragement talk, it is not meant to be some good ideas that we can imitate and maybe make our life better.
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  #2327 (permalink)  
Old 10-05-2013, 07:38 PM
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Then we definitely have different definition for asset and liability.

Asset - Something that puts money into your pocket every money.
Liability - Something that takes money out of your pocket.

When u buy a HDB you go into debt, the interest you are paying is an Liability, until you OWN the flat entirely and rents it out, it become as ASSET.

So base on your statement, if you buy a Car, take up a LOAN and pay monthly installment ,which provide u comfort and save time does it make it an asset ? - No it doesn't.
I think you need to learn accounting. Asset is what you own and liability is what you owe, simple as that.

A car IS an asset, but a depreciating one. Whether is paid in full or on loan is a different matter as that is a matter of financing. No matter what, a car IS an asset.

A property is also definitely an asset, an appreciating one over a long period of time. Even if you need to borrow from the bank to finance your purchase, it is an asset. But your equity in the property is the difference between it's market value and your loan. So, if the property is worth $2m and you have a loan of $1m, your equity is $1m. Taking loan to finance a property is better than paying rent as at the end of 30 years you own the asset fully.
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  #2328 (permalink)  
Old 10-05-2013, 08:35 PM
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I think you need to learn accounting. Asset is what you own and liability is what you owe, simple as that.

A car IS an asset, but a depreciating one. Whether is paid in full or on loan is a different matter as that is a matter of financing. No matter what, a car IS an asset.

A property is also definitely an asset, an appreciating one over a long period of time. Even if you need to borrow from the bank to finance your purchase, it is an asset. But your equity in the property is the difference between it's market value and your loan. So, if the property is worth $2m and you have a loan of $1m, your equity is $1m. Taking loan to finance a property is better than paying rent as at the end of 30 years you own the asset fully.
What you said is correct. The charlatan is immediately exposed as charlatan and is one that thought he/she knows alot.
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  #2329 (permalink)  
Old 10-05-2013, 09:38 PM
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In short, the three examples are rare examples that can't be replicated easily. Looking for property in other countries that has a better ROI? Again, it is easier said than done. Try investing in something that you are not familiar with is committing suicide basically. Do take note that investing in property in unfamiliar jurisdiction may entails all other kind of risk, such as political risk, policy change risk, financial monetary control etc....so....nothing is easy...

but some people has already admitted that it is just an encouragement talk, it is not meant to be some good ideas that we can imitate and maybe make our life better.
haha reminds me of those Kiyosaki/Adam Khoo talks. say until dragon tiger all come out but in the end just talk and nothing specific on how to make money.
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  #2330 (permalink)  
Old 10-05-2013, 11:42 PM
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haha reminds me of those Kiyosaki/Adam Khoo talks. say until dragon tiger all come out but in the end just talk and nothing specific on how to make money.
Because there are just so many ways to make money, and I believe there are no A, B, C on how you can become WEALTHY.. It works many different way for many different people..
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