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What are you investing in?

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  #111 (permalink)  
Old 17-06-2013, 03:20 PM
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27 single
earn 2.7k
700sgd in stock
no savings.
30k cpf in ordinary
paying 250amth endowment maturing in 20 yrs

pathetic sinkie...worried about retirement plan

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  #112 (permalink)  
Old 17-06-2013, 08:11 PM
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One thing I noticed with the young ones nowadays is their impatience.

They expect to be rich the moment they join the workforce. 27 is still very young especially for guys. If you consider that the new retirement age is 62 (will be 65 soon), you still have 35 to 38 yrs to accumulate your wealth.

The trick to being reasonably rich is to have constant income eg. do not have gaps in your employment history. Spend well within your means. Invest your savings.

Understand your earning will grow when you get older and better at your work. So change job only for better career prospects and pay and not because of some whims or fancy.

Many people quit in their late 40s at a time when their income is peaking. Pity.

Quote:
Originally Posted by Unregistered View Post
27 single
earn 2.7k
700sgd in stock
no savings.
30k cpf in ordinary
paying 250amth endowment maturing in 20 yrs

pathetic sinkie...worried about retirement plan


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  #113 (permalink)  
Old 15-07-2013, 09:09 AM
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Default Invest in Kumon

Anyone has experience in the above, that can be shared?
Royalty? Class size? Slow period? Monthly overhead?

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  #114 (permalink)  
Old 31-08-2013, 04:18 AM
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Friends and family, anyone looking to rent out their investments and sell your investments. Pm Me
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  #115 (permalink)  
Old 31-08-2013, 10:12 AM
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Quote:
Originally Posted by Unregistered View Post
One thing I noticed with the young ones nowadays is their impatience.

They expect to be rich the moment they join the workforce. 27 is still very young especially for guys. If you consider that the new retirement age is 62 (will be 65 soon), you still have 35 to 38 yrs to accumulate your wealth.

The trick to being reasonably rich is to have constant income eg. do not have gaps in your employment history. Spend well within your means. Invest your savings.

Understand your earning will grow when you get older and better at your work. So change job only for better career prospects and pay and not because of some whims or fancy.

Many people quit in their late 40s at a time when their income is peaking. Pity.
Why do they quit? Is it possible that their career and usefulness are also peaking? As a boss, why should I continue to pay so much for an expensive manager when I can find younger cheaper and more energetic ones without families?
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  #116 (permalink)  
Old 01-09-2013, 04:34 PM
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Quote:
Originally Posted by Unregistered View Post
Why do they quit? Is it possible that their career and usefulness are also peaking? As a boss, why should I continue to pay so much for an expensive manager when I can find younger cheaper and more energetic ones without families?
then the job is not a manager job, its a ox in the field job.
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  #117 (permalink)  
Old 01-09-2013, 11:44 PM
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Quote:
Originally Posted by Unregistered View Post
27 single
earn 2.7k
700sgd in stock
no savings.
30k cpf in ordinary
paying 250amth endowment maturing in 20 yrs

pathetic sinkie...worried about retirement plan
hi...you are still young, and you won't be forever earning $2,700...

Let's say even if you don't get a promotion or get a higher job offer, with the increments, your salary will still increase!
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  #118 (permalink)  
Old 26-09-2013, 11:36 PM
Zhang
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Default Update on my JB property

Quote:
Originally Posted by Zhang View Post
Thanks Tracker.

Re your point on shophouses, I'm open but the prices for the ones I saw were pretty steep, so couldn't get myself to jump in.

Oh ya, before I forget, if you are keen on Orchid View, can check in with Jerry - he'll probably refer you to another guy called Chua - or Gold Bridge Properties.

Think there are some units still avail. But the views for available units aren't great and most are low floor units. May not matter for investment unit if the primary bet is on location, but thought I'd flag it out anyways.

Condominium for Sale in Orchid View Condominium, Johor Bahru, Johor, Malaysia for RM 463,000

Condominium for Rent in Orchid View Condominium, Johor Bahru, Johor Bahru, Johor, Malaysia for RM 2,500
A quick update on my iskandar adventure, for those who may be thinking along the same lines...

As mentioned earlier, I decided to buy Orchid View because I wanted to make a MRT bet (its right next to the purported location of the MRT) and it was literally 1/3 the price of new launches in the vicinity on a psf basis.

I didn't think I'd lose too much on the price of the house, since I was buying at 1/3 the price of condos around me. But after hearing horror stories about rental, or the lack thereof, I told my agent, "Am ok to wait a couple of months, but am only worried that my unit is vacant for 3 to 6 months."

My agent responded, "Honestly, I cannot promise I can get you a tenant within a year."

Ok, so that didn't help my confidence much. But it is what it is, worst case I get a holiday home, I thought.

So, anyways, I started my renovation, trying to keep things as cheap as I could, since I thought I may not get rental for a year or more.

Which is easier said than done when the wife is making the renovation decisions. I managed to dodge putting in the false ceiling [lighting points are expensive!], new toilets ["let's buy a nice dressing table instead" -- which comes free with the bedroom set], and tiles [super expensive, so I distracted the wife by putting her to work to optimize the lights with the furniture].

Via these shenanigans, I managed to completely renovate my 1500 sq ft place quite nicely for RM35k, including all the furniture.

Happily, we went up to the place to stay for the weekend. By this time, I had gotten a Malaysian phone card (internet!) and discovered a gem of a website called "johorkaki.com" which gave us a lot of nice food places to explore.

First night we were there, we switched on all the lights, intending to take photos to send to agents for marketing. Once we turned on all the lights, the house shorted. Actually, the whole floor shorted. So I walked out amongst my bewildered neighbours, acting like I didn't know what happened.

That night I learned I had quite a few Singaporean neighbours. One rented out his HDB flat and rented an apartment there. Another was a rich fella - him and his family owned 10+ units at Orchid View because he felt it was the best way to effect a "shenzhen effect" bet.

Anyways, my place shorted because there was water leakage, which seeped into my electrical box. So we spent RM1k plus repairing that. Then the aircon broke down, so that was another RM3.5k. Then the built in heater malfunctioned, and we had to pay RM250. And when we thought we got everything figured out, the bathtub leaked. So another RM250.

Lesson learned - when buying old condo units in Msia, never buy as-is !

When all this was finally done, we put the unit out for rental via a couple of agents... and surprise of surprises, got 3 viewings within a week. Apparently, August is a pretty good time because the international schools are just starting the semester and my agent said that they were getting a good number of enquiries for units near the Woodlands checkpoint, and in Nusajaya (near to Educity).

In a bittersweet development, within 2 weeks of putting the unit out for rental, we managed to lock in a tenant for RM3k a month, and get this - on a 2-yr corporate lease. Sweet in that it extinguished my biggest risk, but bitter in that we were starting to quite enjoy our JB holiday home !

So for the maths whizzes amongst us, key numbers are as follows:
1) Purchase price: RM510k
2) Transaction cost (legal/stamp duty/loan docs etc): RM40k
3) Renovation : RM45k

Total cost: RM595k

Monthly considerations
1) Rental: RM3k
2) minus Maintenance + mortgage = RM2.5k
3) Nett CF = RM500
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  #119 (permalink)  
Old 27-09-2013, 02:31 PM
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Default Not a maths whiz

Quote:
Originally Posted by Zhang View Post
So for the maths whizzes amongst us, key numbers are as follows:
1) Purchase price: RM510k
2) Transaction cost (legal/stamp duty/loan docs etc): RM40k
3) Renovation : RM45k

Total cost: RM595k

Monthly considerations
1) Rental: RM3k
2) minus Maintenance + mortgage = RM2.5k
3) Nett CF = RM500
On the whole, honestly, it looks like you did quite a good deal. I agree that expectations in internet forum tend to be biased. But for your benefit and since i have itchy hands today, thought i do some number crunching for your case just on your FX risk.

Here is the past trend of SGD/MYR

SGD/MYR Currency Conversion Chart - Yahoo! Singapore Finance

I dont know when u transacted your purchase cost . I am hoping you did it after may at least.

If you see the chart, May FX rate is around 2.4. June is around 2.5
Now around is 2.55

Based on your purchase price of 595K, you spent about either 238k SGD - 248k and every MYR/SGD 10 cent change makes gain/lose by 10k SGD
Take note that we are talking about only the past few months ie 3 months

What is the impact of 10k SGD for a 500 MYR net monthly rental ?
The answer is 50 months of rental or 4+ years.

The upside is the rental pays for your liabilities. But hopefully, MYR doesnt depreciate anymore against SGD. If it continues, honestly, the erosion can be bad.

I dont know the future. But if anyone is thinking of going Malaysia or other countries for gains in property, i always ask them to remember the FX risk.
It can make u have gains like 1.5x or make u initial investment down by similar effect...and unfortunately, history has shown Singapore dollar really has been rather strong. .
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  #120 (permalink)  
Old 27-09-2013, 08:53 PM
Zhang
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Very sharp observation. Indeed forex risk is a problem for residents of countries with strong currencies like Singapore.

I mitigated it to a degree by taking 80% loan so am only 20% exposed, but clearly renovation cost and transaction costs are not hedged. Net net I took c. Rm410k loan, so my unhedged exposure was c. Rm185k. At avg entry price of 2.48, I have lost c. RM5 to 6k.

This is c. 4 months rental. Remember the rm500 is positive cashflow not net profit. Net profit is c. Rm1.3 to 1.5k because the part of the mortgage payment also goes towards repayment of principal, and not all to interest.

But big picture, am ok w sgd-myr at 2.48 because this was a 15 yr low for myr. Its hard to see the sgd maintain at current levels, in my view. Businesses are starting to feel the pain of the high sgd, as reflected by the poor export numbers. Believe once the housing market in singapore is brought under control, mas will allow sgd to weaken to boost the economy. Now mas' hands are tied because once they allow sgd to weaken, the housing prices could jump again, and thats becoming a real political problem for the govt.
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