How much are you earning per annum?

Originally Posted by Unregistered

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

yes, in the past (i managed to reach $2.7mil at 36), but not so easy now with the cooling measures.

Originally Posted by Unregistered

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.

I'm sgporean la...just cant stand the hypocritical oppies

Originally Posted by Unregistered

yes, in the past (i managed to reach $2.7mil at 36), but not so easy now with the cooling measures.

Yes, I have also successfully flipped properties over the past 15 years, flipped 5 properties in total. Started off with a HDB flat and net worth of $200k, now my net worth is about $3m. I'm 42 years old now. Currently still holding 3 condos, all almost fully paid up. I can retire if I want to as I can get a passive income (net of all expenses) of $7.5k per month. And I can still live in my condo and drive a car. I can then do what I like, such as doing social work to feed the poor and give free tuition to poor kids.

Most property experts I know flip a few round and retire once they hit net worth of $5mil in their early 40s

I've flipped a few pratas in my lfietime

Originally Posted by Unregistered

I've flipped a few pratas in my lfietime

That's a good one. I have only tried flipping omelet but rather unsuccessfully I must say.

With the all the cooling measures it seems more difficult to flip properties nowadays. This is made worse by the high number of units coming on stream. Nonetheless I still get a lot of cold calls from agents asking if I want to sell my condos. Some were honest enough to say they are just building up their selling portfolio while others claimed they have ready-to-commit clients.

Regarding the debate on which platform (shares or property) gives better returns, I have to say that it was property for me. 5 years ago I bought the condo I am staying in now at $1M. Now it is worth $1.6M. 3 years ago I took the plunge and commit to another one at $1M intending to flip it. I only paid the 20% ($200K + $26K stamp duty). Loan interest is all time low at 1.026%. Agents tell me my investment condo (going to TOP soon) is now worth $1.3M. Considering that I only paid $200K, that's an increase of more than 100% of the outlay over 3 years.

The returns from my stock investment is also not too bad thanks to all the QE going on in US, Europe and Japan. For the last 3 years, my shares grew in value by slightly more than 10% in addition to about $50K in total dividends (or about $16K pa in dividends).

Many stories of flipping here. Thanks for sharing. Here's my flipping story.
Started with a 5 room HDB, sold after 7 years, bought a condo and flipped after 2 years. Bought a landed and flipped. Also flipped one condo in 2009 during the crisis. Finally bought three more condos. Did all these within 16 years. Made total profits of $1.5m. Now net worth of $2m. Not that great, but decent performance, especially since I started out with a capital of $300k. Better than a typical stocks fund manager.

Many stories on property flippers here. For me I wanted to get rich quick and property can only leverage 80%, not very attractive.

In 2010 took the plunge with all my savings of $6000 and various unsecured loans to leverage on derivatives, this allow me to profit from the markets almost on nothing down. Manage to make close to 900k now.

28, single guy, marketing exec
$3k pm, hopes to get married in a few years time
Need to save harder to buy a BTO
Hope to flip properties too and become a millionaire by 40
Inspired by the many flipping stories here
If you guys can do it, so can I

[Wiseman1]

Originally Posted by Unregistered

That's a good one. I have only tried flipping omelet but rather unsuccessfully I must say.

With the all the cooling measures it seems more difficult to flip properties nowadays. This is made worse by the high number of units coming on stream. Nonetheless I still get a lot of cold calls from agents asking if I want to sell my condos. Some were honest enough to say they are just building up their selling portfolio while others claimed they have ready-to-commit clients.

Regarding the debate on which platform (shares or property) gives better returns, I have to say that it was property for me. 5 years ago I bought the condo I am staying in now at $1M. Now it is worth $1.6M. 3 years ago I took the plunge and commit to another one at $1M intending to flip it. I only paid the 20% ($200K + $26K stamp duty). Loan interest is all time low at 1.026%. Agents tell me my investment condo (going to TOP soon) is now worth $1.3M. Considering that I only paid $200K, that's an increase of more than 100% of the outlay over 3 years.

The returns from my stock investment is also not too bad thanks to all the QE going on in US, Europe and Japan. For the last 3 years, my shares grew in value by slightly more than 10% in addition to about $50K in total dividends (or about $16K pa in dividends).

Dont be a clown like the rest of the sillyporeans. Are there ready buyers for your properties??? I can also say my properties are worth millions, these are meaningless numbers unless there are buyers knocking on your doors (not dodgy property agents who try to secure your biz by promising you sky high prices with no substance)

Always Remember: Juz because someone else can find a sucker willing to buy his house at a price which allows him to make 200% profit does not mean you would be just as lucky. The debt with the bank is real, but the promise of high selling prices and fat profits are mirages unless buyers are queueing at your doors.

This is a fatal mistake which I see a lot of Sillyporeans are committing, over leverage in properties dreaming of imaginery sucker buyers...what if you cant find that sucker???