How much are you earning per annum?

Originally Posted by Unregistered

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.

Well....the funniest part is that why only aim to make some $100k per annum passive income...if it is just meant to be an encouragement, boost morale thingy...why not just mention peter lim who take a position in Wilmar and propel him to one one of the richest man in Singapore overnight, from a taxi driver?

And...want examples for people who invest in real estate and become bankrupt? Can't see an obvious one?! The present financial crisis felt by USA is exactly partly due to bursting of a housing bubble. If federal reserve have to print so much money to buff up Freddie and Fanny Mae, you think there isn't alot of americans didn't get into financial trouble because of committing too much beyond their means on property and real estates?

so...there is something so huge and obvious right before our eyes and people can't see.

My wife and I each earn $3000 and $3050 per month respectively. We are both 25 years old.

We got our 5 room BTO at a very low price and now the flat has appreciated by more than $300k.

After MOP, we plan to buy a new subsidized EC and then after 5 years, sell again, expecting to make $500k profit. So, in total we can make profits of $800k by buying subsidized HDB flat and EC and selling to PRs, thanks to taxpayers.

Good to be Singaporeans.

Originally Posted by Unregistered

My wife and I each earn $3000 and $3050 per month respectively. We are both 25 years old.

We got our 5 room BTO at a very low price and now the flat has appreciated by more than $300k.

After MOP, we plan to buy a new subsidized EC and then after 5 years, sell again, expecting to make $500k profit. So, in total we can make profits of $800k by buying subsidized HDB flat and EC and selling to PRs, thanks to taxpayers.

Good to be Singaporeans.

You're very simple minded. And you obviously haven't been reading the news for the past few days regarding ECs.

Originally Posted by Unregistered

My wife and I each earn $3000 and $3050 per month respectively. We are both 25 years old.

We got our 5 room BTO at a very low price and now the flat has appreciated by more than $300k.

After MOP, we plan to buy a new subsidized EC and then after 5 years, sell again, expecting to make $500k profit. So, in total we can make profits of $800k by buying subsidized HDB flat and EC and selling to PRs, thanks to taxpayers.

Good to be Singaporeans.

This is a good idea. We also wanted to do the same. We bought our BTO flat many years ago and now it is fully paid and worth $800,000. We wanted to sell and buy an EC but our combined monthly income is now $13,000. So, we can't. We have no choice but to buy a condo or a landed property. I hope the income ceiling can be raised to $15,000 to allow more people like us to benefit from buying an EC so as to earn more capital gain profits in the future. How can families with income of $12,000 and less have the opportunity to earn capital gain profits of $500,000 in the next five years but families earning just $1,000 more per month are deprived of this opportunity? This is not fair. Better for the EC scheme be scrapped to be fair. EC is a luxury not a basic need.

Originally Posted by Unregistered

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..

Nope thats not what he said.

He specifically emphasize buying good ROI overseas property is the surest and safest way of making big money. When I ask him what property exactly, he no answer ie empty talk

Originally Posted by Unregistered

This is a good idea. We also wanted to do the same. We bought our BTO flat many years ago and now it is fully paid and worth $800,000. We wanted to sell and buy an EC but our combined monthly income is now $13,000. So, we can't. We have no choice but to buy a condo or a landed property. I hope the income ceiling can be raised to $15,000 to allow more people like us to benefit from buying an EC so as to earn more capital gain profits in the future. How can families with income of $12,000 and less have the opportunity to earn capital gain profits of $500,000 in the next five years but families earning just $1,000 more per month are deprived of this opportunity? This is not fair. Better for the EC scheme be scrapped to be fair. EC is a luxury not a basic need.

I agree the EC scheme should be scrapped. The govt is losing millions of potential revenue by subsidizing rich people. Land should instead be sold to build private condos and more revenue can be gained from the land sales. The extra revenue can be better utilize to feed the poor and destitute and not to enrich those who are already rich when the flip their BTO.

Originally Posted by Unregistered

My wife and I each earn $3000 and $3050 per month respectively. We are both 25 years old.

We got our 5 room BTO at a very low price and now the flat has appreciated by more than $300k.

After MOP, we plan to buy a new subsidized EC and then after 5 years, sell again, expecting to make $500k profit. So, in total we can make profits of $800k by buying subsidized HDB flat and EC and selling to PRs, thanks to taxpayers.

Good to be Singaporeans.

What you plan to do, I've done it. 10 years ago, we started with a BTO near the city area, after 5 years we flipped and made $350k profit. We then proceeded to buy an EC, and after 5 years, flipped again and made $550k profit. Now, we bought a condo in Bukit Timah using the profits we made from these flippings. And our income has also grown over the 10 years. This is the Singapore dream come true!

Originally Posted by Happy Singaporean

What you plan to do, I've done it. 10 years ago, we started with a BTO near the city area, after 5 years we flipped and made $350k profit. We then proceeded to buy an EC, and after 5 years, flipped again and made $550k profit. Now, we bought a condo in Bukit Timah using the profits we made from these flippings. And our income has also grown over the 10 years. This is the Singapore dream come true!

And people complain its foreigners driving house prices up...tsktsktsk

Originally Posted by Unregistered

And people complain its foreigners driving house prices up...tsktsktsk

Are you a jealous PR or foreigner?
Don't be jealous, count yourself lucky to have a job here.
You have taken the job of a well educated, qualified Singaporean, who is jobless or drives a taxi.

Once you know how to flip property in Singapore, can easily hit >$1mil net worth by 35 yrs old.