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23-03-2012, 05:12 AM
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Junior Member
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Join Date: Mar 2012
Posts: 3
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Help! Please Advice!
Hi, Im 20 (waiting for Ns, only son)
My parents passed away recently, I've inherited 3 properties in aus, 2 properties in Singapore (1 I'm living in) and 1 property in Malaysia.
The other property in Singapore is currently rented out, that's gonna give me passive income. 1 of the property in Australia is rented out too.
I'm not sure if i should sell all the properties in Australia since we're all predicting a crash soon.
Note: Im not working/No income
- Hoping to rely on property investments for passive income
- Should i sell all the property in Australia and buy one in Singapore and rent it out?
- Buy stocks?
What should i do?
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23-03-2012, 09:22 AM
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If you do not have much cash now, I think you can sell half your properties and sit on the cash for future investment opportunities.
You already have high net worth, so you should focus on preserving wealth, unless you are super ambitious in wanting to become the next billionaire.
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23-03-2012, 11:20 AM
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Both passed at the same time? Somehow I get a sense this is either a scam or attention seeking post.
Okay, let's say I your story is true.
Shouldn't you be seeking advice of someone trusted like your relatives instead?
My advice is that you should sell off those offshore properties since at your age you wouldnt be able to manage and monitor them effectively.
With no immediate family and next-of-kin, are you planning to stay by yourself or move in with a relative? Didn't any of them offer since both of your parents passed away and you are left alone? Are you going to the uni? Are you still in the Army now?
I would suggest that you keep only the SG properties and get a trusted relative advice or even help on managing it. (e.g. renting out etc)
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23-03-2012, 01:15 PM
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Junior Member
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Join Date: Mar 2012
Posts: 3
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Sorry bout the misunderstanding, my dad passed away awhile ago and my mum recently.
Yes my cousin and uncles are definitely helping me as they are executers of my mums will.
Yup I'm staying on my own, i want to anyways as i don't want to be a burden to other families. I plan to go uni for my degree after army.
The problem is i don't know if i should keep the Australia properties or sell it off. I know I'm being a bit optimistic here, even though theres no proper income atm, I'm still thinking of a way to build and increase my net worth..
My mum does have quite a bit of cash in her cpf, banks in Singapore and Australia
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29-03-2012, 05:00 PM
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Millionaire Member
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Join Date: Sep 2011
Posts: 275
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xzxz, if you are waiting for NS - then I suggest you do not make an major investment or divestment at the moment. If you can, go through NS and use the time to think through what you want to do in the long term. The rental income can keep you well provided for in the meantime.
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07-04-2012, 10:21 AM
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Dear xzxz1993
Sorry to hear about your loss. Invest in your own education. Don't stay in Singapore and take on any degrees (yes not even local uni). Apply to reputable overseas colleges. You may choose to take a double degree, one of your interest, the other would be related to finance. All the best.
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10-04-2012, 03:55 PM
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Quote:
Originally Posted by Unregistered
Dear xzxz1993
Sorry to hear about your loss. Invest in your own education. Don't stay in Singapore and take on any degrees (yes not even local uni). Apply to reputable overseas colleges. You may choose to take a double degree, one of your interest, the other would be related to finance. All the best.
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Totally agree. Get enrolled in an Ivy league with that money you have. Try to go before u head for NS. U might have opportunities that will save u 2yrs of ur life. its a waste of time. Singapore unis are also just a waste of time (even tho i have bachelors and masters here, but thts cause i cant afford overseas). Education is always a good investment.
Stock market is set for a correction one leg down, so buy a 10-20% dip.
Guess SGD property should have more value than an AUD one. Scarcity is the main consideration always.
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12-04-2012, 06:11 PM
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my 2 cent is not to do anything rash yet.. just hold on to the property first and see what u can do once u have a clearer picture of the economy..
serve your ns first thn decide wat to do..
btw i am taking that all your properties are already fully paid for..
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13-04-2012, 11:15 AM
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Junior Member
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Join Date: Apr 2012
Posts: 8
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Yeah rent the houses out first.
Australia houses are really easy to rent out.
I have investments in Australia as well in which most are rented off to students.
Is a pretty decent sum. Collect the rent, do some research before u decide on selling it.
With the rent from all these houses im sure u would be able to live a comfortable life without worries.
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