View Full Version : I love my Bank.
Today got a mail from my banker.
the bank can only grant you the max loan tenor at 6 yrs only and based on the ppty purchased and your income, the max loan quantum is only @ 60% LTV. Do you still want me to proceed for you if you can only get 6 yrs of loan tenor. Pls advise. thank you.
Look like Game over for me now, will try again.
Why 6 years? I thought i read somewhere you are in your 40s.
buttercarp
11-10-12, 08:18
6 years only?
They think you buying car?
They are telling you they don't want to lend you.
the full stop at the end of your thread title is especially poignant .
Local bank or foreign bank? Do you still have regular salary from your employment?
Secretariat
11-10-12, 08:47
Leasehold property right? :doh:
blackjack21trader
11-10-12, 08:47
halor, bother share with us which bank is that leh? u can say local or foreign,dun need to say name. or isit you owned too many properties liao leh ?
blackjack21trader
11-10-12, 08:51
Leasehold property right? :doh:
isit brother ? why 6 years u still wanna buy leh? enligten us, brother !
blackjack21trader
11-10-12, 08:53
tell us leh, brother. 6 years leasehold very fast one. is like u go toilet come out, the stock prices all changed liao leh. and 6 years also not enuff to make me grow one wrinkle leh :(
otherwise, one must find a banker geniuely willing to help you and share with you how to expand ur finances. not one that close the umbella when it is goin to rain.
:(
I thought there was a picture of him taken from the facebook. I think he is 50 something.
Why 6 years? I thought i read somewhere you are in your 40s.
Secretariat
11-10-12, 09:19
Some reportedly bought one with short lease...
http://www.renotalk.com/forum/index.php?showtopic=52041
A bargain or not? :confused:
phantom_opera
11-10-12, 09:26
what is going on?? same situation as Yowetan??
:scared-4:
really a risky game
phantom_opera
11-10-12, 09:27
the full stop at the end of your thread title is especially poignant .
my English actually improves after TCSS in this forum :cheers5:
Secretariat
11-10-12, 09:29
what is going on?? same situation as Yowetan??
:scared-4:
really a risky game
What is the case of Yowetan, bro? :confused:
phantom_opera
11-10-12, 09:32
What is the case of Yowetan, bro? :confused:
You did not read? He bought Flamingo Valley, exercised his option but haven't got his 90% LTV staff loan approved .. of course it could be just a fraud
Secretariat
11-10-12, 09:58
You did not read? He bought Flamingo Valley, exercised his option but haven't got his 90% LTV staff loan approved .. of course it could be just a fraud
OIC, thanks. :doh:
its not just a full stop, period.
buttercarp
11-10-12, 12:29
its not just a full stop, period.
Then what else can it be?
A mole?
Then what else can it be?
A mole?
looks like I gotcha this time sister.
a full stop is also known as a period. it was a pun.
buttercarp
11-10-12, 12:45
its not just a full stop, period.
looks like I gotcha this time sister.
a full stop is also known as a period. it was a pun.
Period....i sure know one mah :p !
That's why I ask what else can it be, as in what are the other possibilities.
you mean you know period because you are a woman?
I almost fall off my chair when I read my banker reply.
I was looking at a 1 Bedroom Sky green for my retirement home.
There was also a Shophouse selling for 750k, valuation 800k.
Just celebrated my 12th birthday.
Own 5 Room HDB val at 595k, 2 Bedroom val at 1.5m, 3 Bedroom PH at 1,305,800. Outstanding loan at 1.8m.
Salary 44k a year, rental income 78k, cola 4k a month, housing 200 euro.
BMW 5 series 4k euro, SMART car 4k euro.
Son going NS.
Wife stay at home watch series everyday.
buttercarp
11-10-12, 13:45
you mean you know period because you are a woman?
Yes. You no period because you are a man.
I almost fall off my chair when I read my banker reply.
I was looking at a 1 Bedroom Sky green for my retirement home.
There was also a Shophouse selling for 750k, valuation 800k.
Just celebrated my 12th birthday.
Own 5 Room HDB val at 595k, 2 Bedroom val at 1.5m, 3 Bedroom PH at 1,305,800. Outstanding loan at 1.8m.
Salary 44k a year, rental income 78k, cola 4k a month, housing 200 euro.
BMW 5 series 4k euro, SMART car 4k euro.
Son going NS.
Wife stay at home watch series everyday.
Now I remember you are a leap year baby.
OMG u take cola?
How come the 3 BR PH valuation is lower than the 2 bedder?
U stay in France, right?
I tot i read it somewhere before.
phantom_opera
11-10-12, 14:19
I almost fall off my chair when I read my banker reply.
I was looking at a 1 Bedroom Sky green for my retirement home.
There was also a Shophouse selling for 750k, valuation 800k.
Just celebrated my 12th birthday.
Own 5 Room HDB val at 595k, 2 Bedroom val at 1.5m, 3 Bedroom PH at 1,305,800. Outstanding loan at 1.8m.
Salary 44k a year, rental income 78k, cola 4k a month, housing 200 euro.
BMW 5 series 4k euro, SMART car 4k euro.
Son going NS.
Wife stay at home watch series everyday.
the problem is you have outstanding loan of 1.8m and stop working ... if I am the bank i also scared :o
the problem is you have outstanding loan of 1.8m and stop working ... if I am the bank i also scared :o
Own 5 Room HDB val at 595k, 2 Bedroom val at 1.5m, 3 Bedroom PH at 1,305,800. Outstanding loan at 1.8m.
net assets = 1.6mil
still okay wat.
2BR by bank A, 3BR by bank B, perhap Bank C not willing to lend since they dont have first charge to the other properties.
perhaps if all the loans by the same bank then the bank would feel more safe.
phantom_opera
11-10-12, 14:31
Own 5 Room HDB val at 595k, 2 Bedroom val at 1.5m, 3 Bedroom PH at 1,305,800. Outstanding loan at 1.8m.
net assets = 1.6mil
still okay wat.
2BR by bank A, 3BR by bank B, perhap Bank C not willing to lend since they dont have first charge to the other properties.
perhaps if all the loans by the same bank then the bank would feel more safe.
you cannot use the market valuation, what if market crash 50%?
you 12years old only got son already??
you cannot use the market valuation, what if market crash 50%?
then he will many friends in same boat as him.
afterall, regardless whether one is 20 years, or 40 years old, if market crash 50%, then still die.
bank will not have repayment holiday when one is 20 years.
Haha, actually people in this forum are smart and sharp....caruncle - I never thought of the leap years. Buttercarp - so sharp to pick up how v
Come PH cheaper than 2-bedroom...u r all good man.
Or maybe I am slow lah.
Enjoy reading all yr posts.
:cheers4:
Own 5 Room HDB val at 595k, 2 Bedroom val at 1.5m, 3 Bedroom PH at 1,305,800. Outstanding loan at 1.8m.
net assets = 1.6mil
still okay wat.
2BR by bank A, 3BR by bank B, perhap Bank C not willing to lend since they dont have first charge to the other properties.
perhaps if all the loans by the same bank then the bank would feel more safe.
CPF and only one bank
Werther, you the only Original.
buttercarp
11-10-12, 17:30
Werther, you are so sweet!
Hi bros & sis
Just called my banker to check on new mortgage payment:
Oh dear, I doubt I can afford it now,
$3m
40% dp- $1.2m
Loan - $1.8m over 20 years
Additional 3% stamp duty for 3rd pty
Monthly instal: $8k per month
How to afford?
Think need to shelve plan Liao....:doh:
Anyway to go around it?
buttercarp
11-10-12, 23:00
Hi Werther, has this unit TOP yet?
If so then your other 2 properties rental plus your salary, can it pay off the loan?
I assume you took the 20 year tenure as you will turn 65 years old in 20 years time? If not, then may be can stretch the loan further.
Did you take fixed loan or Sibor loan?
Since Sibor is low now, you may consider sibor now.
All these I am sure your banker has gone through with you lah.
Btw, care to share what type of property you bought and location?
Hi bros & sis
Just called my banker to check on new mortgage payment:
Oh dear, I doubt I can afford it now,
$3m
40% dp- $1.2m
Loan - $1.8m over 20 years
Additional 3% stamp duty for 3rd pty
Monthly instal: $8k per month
How to afford?
Think need to shelve plan Liao....:doh:
Anyway to go around it?
which part of affordability is the problem?
A)40% dp?
B)absd 3%?
C)monthly instal $8k/month?
for B, if u used solely my name to purchase, you will save ABSD 3%.
for C, if u used solely my name to purchase, i will top up difference between rental received and monthly instalment.
for A, hmm that's trickier.
Honest suggestion:
Senario 1
Down 60%
Loan 40% 30 yr.
Senario 2
Sell 1 property
Then buy next property
You can choose down 40% w 20 yr loan or
Down 60% w 30 yr loan. Because u would have excess cash w the sale of the house and at the same time u save on absd.
If you die die want 3 properties, I cannot dwell into it as I do not have detailed information into your finance, neither do I intend to know.
Now, after serious advise, we need some humor.
I will better hopeful offer. I will pay 50% of down. You put my name.
Hi bros & sis
Just called my banker to check on new mortgage payment:
Oh dear, I doubt I can afford it now,
$3m
40% dp- $1.2m
Loan - $1.8m over 20 years
Additional 3% stamp duty for 3rd pty
Monthly instal: $8k per month
How to afford?
Think need to shelve plan Liao....:doh:
Anyway to go around it?
CPF and only one bank
Your debt to income ratio is your biggest obstacle.
Your debt to income ratio is your biggest obstacle.
Actually, I already amazed he managed to do this with his salary. This is pure compliment. To me, it is a major achievement, give this man a tiger.
Actually, I already amazed he managed to do this with his salary. This is pure compliment. To me, it is a major achievement, give this man a tiger.
His rental income probably gave him a lift but it can only lift him that far.
His rental income probably gave him a lift but it can only lift him that far.
But many people with that income only go 3 storey. He went 12 storey. That's why I respect his achievement.
It is like an officer with say diploma, He can only climb to captain or major max. But he climb to ltc.
But many people with that income only go 3 storey. He went 12 storey. That's why I respect his achievement.
It is like an officer with say diploma, He can only climb to captain or major max. But he climb to ltc.
If i remember correctly, the game changer for him was southbank.
But many people with that income only go 3 storey. He went 12 storey. That's why I respect his achievement.
It is like an officer with say diploma, He can only climb to captain or major max. But he climb to ltc.
His cola is more than his salary. And his overseas housing is probably subsidised.
While he is abroad he is collecting rent from his hdb and PCs (if that is so his rental should be higher than what he states - maybe the contracts were from 2 y ago).
He did well by adding to his property portfolio while he was abroad.
Maybe his retirement age in his job is 55 that's why bank is only offering him 6 year tenure. Some army officers have such early retirement age.
His cola is more than his salary. And his overseas housing is probably subsidised.
While he is abroad he is collecting rent from his hdb and PCs (if that is so his rental should be higher than what he states - maybe the contracts were from 2 y ago).
He did well by adding to his property portfolio while he was abroad.
Maybe his retirement age in his job is 55 that's why bank is only offering him 6 year tenure. Some army officers have such early retirement age.
Sis, the coke in Europe is a killer. Very expensive. So when I go Europe for holiday, I try to stay in Hilton because I gold member. Pay a bit more, but free breakfast and drinks are free all day round with snacks. After shopping, I go back to rest - old man already.
When it comes to loan, passive income from rental also included in income. Because you need to file income tax. The issue is with age. The older u are, the shorter the tenure.
Army officer were supposed to retire @ 45 but raised to 50 In 2009. I know because we had an alumni gathering before 09. One of my batch, a regular today is a BG. Btw, I was only an ns officer many years ago. Now, no more reservist also because finished my cycle early.
Enough said. What is important is people who took the risk and were rewarded. Some took risk and were punished. This were the people in 97. I was one of them for both instances. That's why it's important to learn.
Hi buttercup
Currently staying in east. The property I am eyeing also in east, old but big apt ard 1800 sq ft. I doubt think will sell any of my holdings cos in future, buy back or getting loan may b tough....
Thanks hopeful and chestnut for you brilliant suggestion in putting someone name but guess too risky. But down 60% cash is really a headache...guess I need to borrow from ah long.:banghead:
I am not sure if 40% downpayment means:
(a) 5% upon booking unit and balance 35% upon exercising option, or
(b) 5% upon booking unit and 15% upon exercising option, balance 20% follow building payment schedule, and then bank loan kicks in.
Any kind soul can confirm which is correct?
I am not sure if 40% downpayment means:
(a) 5% upon booking unit and balance 35% upon exercising option, or
(b) 5% upon booking unit and 15% upon exercising option, balance 20% follow building payment schedule, and then bank loan kicks in.
Any kind soul can confirm which is correct?
B. confirm. I am in. So u can take your time w bank loan because legal subsidy also zero. But u need to Cather for absd if you kana, when you meet lawyer.
B. confirm. I am in.
Double confirm?
Hi buttercup
Currently staying in east. The property I am eyeing also in east, old but big apt ard 1800 sq ft. I doubt think will sell any of my holdings cos in future, buy back or getting loan may b tough....
Thanks hopeful and chestnut for you brilliant suggestion in putting someone name but guess too risky. But down 60% cash is really a headache...guess I need to borrow from ah long.:banghead:
Werther, that part I only joking wat. I tot I gave you 2 options. If u really want option 3, I really cannot advise u because I do not know you pr financials and neither do I want to know. Your best bet is to work with a banker and sort this out. After u meet with the banker and look at all options, sit down with your spouse to discuss. If either of you have doubts or issues, back off.
Are u buying to stay or investment? If investment, what's your rush?
B. confirm. I am in. So u can take your time w bank loan because legal subsidy also zero. But u need to Cather for absd if you kana, when you meet lawyer.
Thanks Chestnut:o You're in good and serious mood today :)
Double confirm?
Sis, if I singing song, you will know. I will write an essay. I just got back from the lawyer office last week and gave him balance 15% and buyer stamp duty plus absd. The absd very painful. But I believe Iras will appreciate me more.
;)
Thanks Chestnut:o You're in good and serious mood today :)
You are welcome. Another thing. If you need a banker, get them to see you at your convenience and at your location. You do not need to go and meet them. Let them come to u. U are the customer.
Can up your southbank rental if you are renewing now. There is demand there.
I almost fall off my chair when I read my banker reply.
I was looking at a 1 Bedroom Sky green for my retirement home.
There was also a Shophouse selling for 750k, valuation 800k.
Just celebrated my 12th birthday.
Own 5 Room HDB val at 595k, 2 Bedroom val at 1.5m, 3 Bedroom PH at 1,305,800. Outstanding loan at 1.8m.
Salary 44k a year, rental income 78k, cola 4k a month, housing 200 euro.
BMW 5 series 4k euro, SMART car 4k euro.
Son going NS.
Wife stay at home watch series everyday.
phantom_opera
12-10-12, 08:36
Up interest of loan to 4pc, see that 1.8m loan causing stress or not
phantom_opera
12-10-12, 08:38
Sis, if I singing song, you will know. I will write an essay. I just got back from the lawyer office last week and gave him balance 15% and buyer stamp duty plus absd. The absd very painful. But I believe Iras will appreciate me more.
;)
What did u buy with equity loan uncle chestnut?
Up interest of loan to 4pc, see that 1.8m loan causing stress or not
Bro, if interest up and cannot handle sell lor. I have sold many things at losses. What is important is at the end of the year, must get overall profit. Hahaha.
Oops, sometimes, end of the year also negative then Bo pian. Swallow the pill.
phantom_opera
12-10-12, 08:43
Bro, if interest up and cannot handle sell lor. I have sold many things at losses. What is important is at the end of the year, must get overall profit. Hahaha.
Oops, sometimes, end of the year also negative then Bo pian. Swallow the pill.
What I dun like about property is liquidity, cannot throw in seconds like stocks and bonds
What did u buy with equity loan uncle chestnut?
Bro, I don't need equity loan. My problem is trying to make my spare cash work man. But I was looking at it for 1 reason. Now I tell u. U don't laugh.
Example I have 500k cash. I want to buy 5 year or 10 year bond. I scared interest rate go up after 3 year and higher then bond return. Then I siong right.
So equity loan @1.5% say example. Bond 4%.
I put the loan in deposit and get 1%. I can get, but don't ask me how ok.
I use my 500k put in bond at 4%.
Total earned 5%.
Net earned = 5-1.5 = 3.5%.
Interest rate on equity loan shoot up to a life
I feel not worth it, I take out deposit and pay back the loan. So net still 4% per annum. Right.
Please feel free to tear down my theory. I play very safe in life. My expenses are way below my earnings. So when I retire. Swee swee no problem. My only vice is car and I pay full, so sales agent damn hate me.
Hahaha
What I dun like about property is liquidity, cannot throw in seconds like stocks and bonds
Bro, I understand. But if you caught the way, I tell u, you make like nobody biz.
I going work liao. Talk to u when I free. I really did learn a lot from you. You are very cheem and you will do well. Timing is the key. Your time will come soon. And when it comes, you must seize every opportunity on it. If not you need to wait 7-12 years before it comes again.
Up interest of loan to 4pc, see that 1.8m loan causing stress or not
Hi phantom
Tks for coming in.
Exactly, I m fearful if interest goes up... So far this current interest rate is the lowest in my entire property mortgage payment, thought want to capitalise on it till 2015, on the other hand with all these cm, need to think very hard how to go ard it otherwise cash eat up by inflation.
So now is buy die, don't buy also die.
Bro, what's yr take. Shd wait or buy now? Le to hear yr view.:cheers6: :cheers6: :cheers6: :cheers6: :cheers6: :cheers6: :tongue3:
phantom_opera
12-10-12, 09:19
Hi phantom
Tks for coming in.
Exactly, I m fearful if interest goes up... So far this current interest rate is the lowest in my entire property mortgage payment, thought want to capitalise on it till 2015, on the other hand with all these cm, need to think very hard how to go ard it otherwise cash eat up by inflation.
So now is buy die, don't buy also die.
Bro, what's yr take. Shd wait or buy now? Le to hear yr view.:cheers6: :cheers6: :cheers6: :cheers6: :cheers6: :cheers6: :tongue3:
No one size fits all solution, but it is sufficient to probably say stock valuation is cheaper than both bond & property ... property has factored in a lot of future inflation expectation ...:beats-me-man: HK is leading the speculative fever now
IMO, MAS did a good job this time ... ;)
Hi phantom
Tks for coming in.
Exactly, I m fearful if interest goes up... So far this current interest rate is the lowest in my entire property mortgage payment, thought want to capitalise on it till 2015, on the other hand with all these cm, need to think very hard how to go ard it otherwise cash eat up by inflation.
So now is buy die, don't buy also die.
Bro, what's yr take. Shd wait or buy now? Le to hear yr view.:cheers6: :cheers6: :cheers6: :cheers6: :cheers6: :cheers6: :tongue3:
If you must, buy something that doesn't require you to stretch yourself so thin. Why die die must buy a $3m property if you know you cannot stomach the risk.
What I dun like about property is liquidity, cannot throw in seconds like stocks and bonds
bro, how can you say it is illiquid when you can get equity loans?
I tell you why u dont really like properties. You have done so much reading on stocks and bonds that your speciality is in this area. So far you have been right in your analysis on stocks and have been making money. You are able to cut losses in the event a particular stock turns sour and you think it will go south somemore. Now you know why I said I learnt from you. I am not so good in such activities. Why? Not that I am not capable. I am at this stage whereby I am bloody lazy and I really dont need to make so much more money. I am at this stage where I am looking at passive income. So the paly is different. I play stocks to keep my mind busy and also understand the world economy.
My speciality is in properties.
So report card on my knowledge
Properties(depending on areas) A
Stocks B
Forex D
Bonds/notes - I leave it to others to advise me (low risk)
Fixed deposit A
Legal A if dont know, pay lawyer - hahaha
If you must, buy something that doesn't require you to stretch yourself so thin. Why die die must buy a $3m property if you know you cannot stomach the risk.
200% agree. Sleeping well is the key. But some people like adventures.
Thats why not everyone can do sales because the stress is so high. But many dream to do sales because the money is there. Just an example.
If I buy my next pty, got to feel like I can move in if I want to, so not too small...all those I saw, of reasonable size ard there, like Hawaii tower, though old but nice environment except invaded by .... But ok lah.
So now is buy die,dont also :doh: die or buy die faster?
$2-2.25m can get you a lot of the older big size apts. No need to go to 3m.
I really like uncle nut posts. can share why you took so long to return to the forum? or rather wait till now then Grace us with your presence?
Enough said. What is important is people who took the risk and were rewarded. Some took risk and were punished. This were the people in 97. I was one of them for both instances. That's why it's important to learn.
So 前辈，now is reward or punishment if you buy singapore property now?
On the topic of alternative investment, just wonder what do you guys think of USD hedged bond funds. Apparently one can leveraged up to improve on yield. This investment class is liquid and being a fund it is diversified. With leverage, yield can reach a high of ~10 pct p.a. on initital capital outlay! Seems attractive isn't it??:)
I really like uncle nut posts. can share why you took so long to return to the forum? or rather wait till now then Grace us with your presence?
I was busy making more money. I am almost there (still a bit greedy but not overly). In fact today I can tell you I can retire but wifey wants to work so follow her and plan to retire together.
I had a good mentor who taught me the initial ropes. If i tell you the story you faint because it will take me 2 bloody months to write it - sorry, it should be i faint. Cut to the chase, this guy shared with me this :
1. When you are young, do you expect your salary to be constant for the next 10 yrs?
2. If you take 5% growth, what would be your salary in 10 yrs?
3. When you buy property, you need to do forward purchase with your earning capacity.
4, If you have no guts dont do it.
5. He said "you are a smart guy, I see you will be someone very shortly". So he saw what I could not see when I was young. My mirror was foggy.
6. Time value of money was what he stressed on.
He was drawing 2K but bot a walk up apartment in east coast for 200K and the rental took care of everything and he had excess cash. But of course he had the luxury of buying on the cheap.
Today, he is in a deep shit because he overleveraged. Sold away all his investment properties. So I learnt all the above from his experience and I myself went thru shit in 1997. I just hope, people can learn a very very little from my experience and wont go thru shit like me. So i am sincere in sharing.
My only advise, play within your means and limits. You must know if your car can go 200kmh or not and if emergency, can the car brake in time, if not, pray you have a luxury car to protect you so you get minimum hurt.
Life is fragile, be nice to people and share along the way, if they take your advice, dont expect a meal. If they dont take your advise, just take it you never gave. And lastly, dont anyhow give advise, one day it may come back and haunt you. I dont give advises. I only share. What each of you want to do with your life is up to you. I dont owe you a living and neither do you to me. But who ever pisses me off, I will keep my mouth shut. After all, who am I to you. hahaha. Enough of the philosophical story.
So 前辈，now is reward or punishment if you buy singapore property now?
Bro, in 2005/6 u go in anywhere with your eyes close, the gold was all around. All you needed was to take a dart and aim at the singapore map and wherever it landed, you can buy, SURELY WIN.
Today, with the prices more then doubled since 05, what do you think? There are still pockets here and there but more researches need to be done. When it is up so high, you have to go in with your eyes wide open and get out in the event of cracks. If the ship is leaking, you must determine if it can still float or not. Dont be like the stupid mouse that thinks the cheese will always be there. Read 0 who moved the cheese. Changes are happening everyday and what may be right today could be wrong tomorrow. I got out of gardens because i saw some cracks, then came ECB, then QE3, last straw was 6 mil population and latest stats on population. The risk reward now is not so good if you ask me. Really have to keep abreast of the situation, but it good for me because it exercises my mind. If not I will slack.
Bottomline, History always repeats itself because there will be a new generation that did not go thru shit and believe that "this time it is different". I was that generation in 1996. Hahaha. Remember the 4 tigers!!!
+++LIKE nutnut!!!!!!!!!
if the world still around after 21 Dec I shall reveal my true identity and then seek enlightenment from this great master.
+++LIKE nutnut!!!!!!!!!
if the world still around after 21 Dec I shall reveal my true identity and then seek enlightenment from this great master.
Huh???:confused: You believe in the Mayan calendar?
Sorri, I diff religion. But I strongly believe in peace and love. Maybe I was a hippie living in San Fran in my previous life. :cheers3:
Like chestnut and caruncle for your selfless sharing. Really appreciate it.
Yes, I went thr all the down cycle in 97-2000, 2001-2006. But has been prudent so not really affected. But did throw some away cos panic and now heart ache as they r in ccr...but life can't win all the time...most important at the end still win a little bit, ok liao.
Chestnut - share yr concern property at its peak so now dilemma..price may climb higher like Hong Kong..heard recently prc in sin grabbing 10 unit sentosa bungalows again and 20s unit at new launch. Maybe herd instinct also...
Equity - not familiar, always buy high sell low...haha
Werther, I only share this with you. Please, not advise.
"If you cannot sleep at nite because of any purchases, not worth it. The stress will drive you up the wall and you will easily fall sick. You will also get edgy and scold your kid and spouse easily. If you have gone thru 97 and beyond. You should know what is about to happen. I can only see 1 year so far and things looks OK unless something bad happens. Now you know why I keeping my eyes wide open. Please do not take my case because even if I cannot spot the crack, I can weather the storm. So yes i am risk averse. Thats why I sleep peacefully at nite".
You sold because you did not do enough research and thus have no conviction. Research only solidifies your conviction. Research is like running 10km everyday so when you have to run 12 km, you know you can do it."
Balance your life and enjoy the road but please do plan for retirement. If will happen sooner than you expect. This is the key. Not the property.
Bro, in 2005/6 u go in anywhere with your eyes close, the gold was all around. All you needed was to take a dart and aim at the singapore map and wherever it landed, you can buy, SURELY WIN.
Bottomline, History always repeats itself because there will be a new generation that did not go thru shit and believe that "this time it is different". I was that generation in 1996. Hahaha. Remember the 4 tigers!!!
Kam Sia ! :)
Always good to hear another view of the market :)
I've also noticed a lot of property millionaires who made their fortunes from 2006-2009.
Blackjacktrader was saying last time about the rise of the middle class to the next level. I thought that had happened in 2006-2009.
Anyway, I'm finding the australia market to be interesting. It is starting a recovery.
You were mentioning about the $500k in FD and leverage for 4% bonds to yield 5%. Well, the strategy sounds alright but just curious.. are you ok to get locked into a bond for 5-10yrs at 4% once you redeemed with your FD (should interest rate goes up). Which means if you need the money to buy properties, your bond value can at most leveraged up to 70% for investment grade right. So your $500k will become <$400k in value when interest rates goes up and you redeemed. And if you draw out 70% of lending value from the $400k, it will be arond $300k.
+++LIKE nutnut!!!!!!!!!
if the world still around after 21 Dec I shall reveal my true identity and then seek enlightenment from this great master.
WALAU..... so many people want to reveal something on December..
You reveal identity..
blackjack reveal his 3rd/4th and some say 5th eyes insight..
who else wants to join the party? >.heheh..
Wa, lunch time you give me number crunching.
For me to do this, I will put long term. I have more than enough of properties. As for the bonds part, I have not executed. I honestly tell you, I can think of all kind of ideas, but come execution time, super lazy. I can afford to now. But for the younger chaps, time is money and have to make every drop count. I dont know how old you are but I do know I am quite old. But below 50 OK. Last time I 40 went fishing and a 20+ guy came to me and ask - Uncle, caught any fish? I turn to my side because I tot he was talking to the person next to me only to realise, there was no one beside me. So out of courtesy, I replied - yes, a few. Then, I wound back by line and whispered to myself, Wa Piang, I now quite old hor, young punk call me uncle.:doh:
So I have accepted the fact and decided to make more money and save for retirement and this is where I am now. Please do financial planning early because you will get a shock sooner then you expect.
And lastly, before I head for lunch - Dont believe all the financial consultant who tell you overseas study will cost you a leg and an arm. It cost about 100k sing per year for your kids education today. My kid is in melbourne. It is even cheaper in the states and UK.
Chestnut guru, thank you for your generous sharing. I pour tea for you, pls accept ya :47: :)
buttercarp
12-10-12, 13:07
Just had a can of baked beans for lunch.
Although it was simple, it was delicious and best of all it is low in calories. It has low glycemic index which makes you fuller for a longer time and high in fibre. And it is cheap.
If only housing and cars in Singapore were like that too .............
Just had a can of baked beans for lunch.
Although it was simple, it was delicious and best of all it is low in calories. It has low glycemic index which makes you fuller for a longer time and high in fibre. And it is cheap.
If only housing and cars in Singapore were like that too .............
Dare to dream if the dream can be a reality. If it cannot, then face it and find a solution around it. Dreamers will succeed if they are inventors. If you are not, face the reality, study the market and work on it.
There are a few people in this forum that are super solid. I have learnt a lot from them and that is another reason why I am beginning to contribute. I dont want to be selfish. I hope I am not wrong in this aspect. but if you dont try, you will never know.
This is final, MAS is doing a good job.
Ans. It's the same 6 yrs
Q. What if LTV is 40% how many years.
Ans. the bank can only grant you the max loan tenor at 6 yrs only and based on the ppty purchased and your income, the max loan quantum is only @ 60% LTV. Do you still want me to proceed for you if you can only get 6 yrs of loan tenor. Pls advise. thank you.
Chestnut guru, thank you for your generous sharing. I pour tea for you, pls accept ya :47: :)
Condolisa, please do not call me guru. I am not always right but please do exchange views with me as it will widen up my views. But I dare say I am >70% right most of the time. No one can get it right all the time. but getting a high hit rate is the key. U can ask phantom on this. Come stocks, he is hitting it right >70%. I am very sure I am right on this.
This is final, MAS is doing a good job.
Ans. It's the same 6 yrs
Q. What if LTV is 40% how many years.
Ans. the bank can only grant you the max loan tenor at 6 yrs only and based on the ppty purchased and your income, the max loan quantum is only @ 60% LTV. Do you still want me to proceed for you if you can only get 6 yrs of loan tenor. Pls advise. thank you.
Bro, you are a champion already in my mind and you were damn lucky to have gotten on the boat.
For fire insurance for common walls, any companies to recommend? I think I forgot to get one....
If i remember correctly, the game changer for him was southbank.
SGD 353,000 to SGD 1,500,000.
His cola is more than his salary. And his overseas housing is probably subsidised.
While he is abroad he is collecting rent from his hdb and PCs (if that is so his rental should be higher than what he states - maybe the contracts were from 2 y ago).
He did well by adding to his property portfolio while he was abroad.
Maybe his retirement age in his job is 55 that's why bank is only offering him 6 year tenure. Some army officers have such early retirement age.
I jump from the left pocket to the right pocket at age 43 in 2007. Retirement now, the sky is the limit.
Now, 0725 in France got to go to work.
buttercarp
12-10-12, 13:29
Hi Arcachon, i was wondering what is cola.
After chiaberry's post then i realized it is cost of living adjustments.
At first I tot it had something to do with cocaine!
So bro, my memory did not fail me.... you are indeed in France!
Excellent nuggets of wisdom chestnut!
SGD 353,000 to SGD 1,500,000.
Nice. Speechless. That's up there with the record books.
I have only just gotten more interested in property and alas the game seems to be over. I read Q&A from property guru site and alot more from this forum for many of my unposted questions. I am learning bit by bit and saving little by little for that ticket on the next boat. Wonder how long i have to wait.
Bro, I don't need equity loan. My problem is trying to make my spare cash work man. But I was looking at it for 1 reason. Now I tell u. U don't laugh.
Example I have 500k cash. I want to buy 5 year or 10 year bond. I scared interest rate go up after 3 year and higher then bond return. Then I siong right.
So equity loan @1.5% say example. Bond 4%.
I put the loan in deposit and get 1%. I can get, but don't ask me how ok.
I use my 500k put in bond at 4%.
Total earned 5%.
Net earned = 5-1.5 = 3.5%.
Interest rate on equity loan shoot up to a life
I feel not worth it, I take out deposit and pay back the loan. So net still 4% per annum. Right.
if interest rate goes up, bond value will drop, u just need to hold till maturity, every yr earn 4%.
why do u need to take equity loan and yet end up with net 3.5%? curious.....
Just had a can of baked beans for lunch.
Although it was simple, it was delicious and best of all it is low in calories. It has low glycemic index which makes you fuller for a longer time and high in fibre. And it is cheap.
If only housing and cars in Singapore were like that too .............
too much FLATULENCE
if interest rate goes up, bond value will drop, u just need to hold till maturity, every yr earn 4%.
why do u need to take equity loan and yet end up with net 3.5%? curious.....
For me, I like to think out of the box. You see. This is like insurance. You pay 0.5% so let the some one else earn it. But what you have is "ready cash" for emergency. If the market corrects for any reason, you can enter - be it stocks or properties, etc... If you cannot find anything worthwhile, then use the money to repay back. Of course a long the way, you should save every month to accumulate more wealth.
When market tanks, the bank may think twice about lending you as well. So you have ready cash anytime you need. In the event the bond prices drop in the open market, you may not want to liquidate it to jump into something else right?
Typing is so difficult to express what I feel because there are so many variables at play. And you will come back and state another variable. I am not saying it to ask you to stop asking - please do not misunderstand. When I share my strategies with people, just a simple topic takes a few hrs because they start throwing all the variables at me and I need to share with them what to do. I do hope you understand what i mean.
Feel free to pop any question, when I am free, I will definitely try to answer. Today is a very unsual day as I decided to take a break and rest my mind from work.
Well! Have learnt a lot today. Risk vs return is just too high these days. Requires lots of research before making decision.
For me, I like to think out of the box. You see. This is like insurance. You pay 0.5% so let the some one else earn it. But what you have is "ready cash" for emergency. If the market corrects for any reason, you can enter - be it stocks or properties, etc... If you cannot find anything worthwhile, then use the money to repay back. Of course a long the way, you should save every month to accumulate more wealth.
When market tanks, the bank may think twice about lending you as well. So you have ready cash anytime you need. In the event the bond prices drop in the open market, you may not want to liquidate it to jump into something else right?
Typing is so difficult to express what I feel because there are so many variables at play. And you will come back and state another variable. I am not saying it to ask you to stop asking - please do not misunderstand. When I share my strategies with people, just a simple topic takes a few hrs because they start throwing all the variables at me and I need to share with them what to do. I do hope you understand what i mean.
Feel free to pop any question, when I am free, I will definitely try to answer. Today is a very unsual day as I decided to take a break and rest my mind from work.
Not to discredit other posts which are also good (some), but this has got to be one of the best threads in the forum in recent weeks.
:cheers4:
Well! Have learnt a lot today. Risk vs return is just too high these days. Requires lots of research before making decision.
Bro, my way of working does not work for everyone. The rule is to tailor it to suit your risk profile. You need to understand the type of person you are before entering into any financial instrument/investment.
I am just sharing but the individual needs to package it to suit his/her style. The best package is always to take from here, then take from there, and voila - new cheese cake.
And bro, I do research until my hair white. During lehman bro time, I told myself, this is alifetime opportunity. So I read on the great depression, what caused it, what turned it around. So I was expecting this to be long, then suddenly, QE came out. Gave me shock of my life.
This one you definitely understand. Do you know what is QE. It is a quick fix to a sickness via anti-biotics, given too often and too much. The body forms a resistance to it and ultimately, with the next bout, the person because so sick. I hope you get what the QE is going to do with the economy. So please prepare for this. When it is going to happen is anybodies guess. But with the next recession, it is going to be one HELL of a BIG.
I have only just gotten more interested in property and alas the game seems to be over. I read Q&A from property guru site and alot more from this forum for many of my unposted questions. I am learning bit by bit and saving little by little for that ticket on the next boat. Wonder how long i have to wait.
Sis, never say it is over in anything. If you look long term, buy at lowest. sell at high(notice I did not say highest - how to tell?). If you have short term goal, the in and out.
See 1st one, Take bus from Jurong to Changi.
2nd one Take bus from East Coast and alight at Simei. Please alight before it reaches Changi OK.
Some Get on Jurong and drop off Clementi and then curse and swear.
So you need to look at the map, study the route. Know if there is a jam. Check frequency of bus. Know how to press the button. Many, many things if you want to take the bus - Correct.
Now if you go property investment. It is not taking the bus OK. So you better read like crazy if not pray you have luck !!!!
My reading has not ended. It is continuous because we are living in a world where the the only thing consistent is "inconsistency".
I hope you understand my metaphor.
Chestnut, appreciate all your in depth sharing.
At this moment, are u a bear or bull on property?
Sounds like you r a bear but I read somewhere u just paid 15% to lawyer for another pty, or wad it you, didn't really read back. Hehe
Hope I m not imposing too much on u...:tsk-tsk:
... and lots of luck and guts like Arcachon's :D
Chestnut, appreciate all your in depth sharing.
At this moment, are u a bear or bull on property?
Sounds like you r a bear but I read somewhere u just paid 15% to lawyer for another pty, or wad it you, didn't really read back. Hehe
Hope I m not imposing too much on u...:tsk-tsk:
Chestnut is a squirrel :D
I was researching a lot just before Lehman and QE. Read books, websites and listen to experts. They are just deferring the pain. The world is much closer apart now than during the depression and information moves in milliseconds or faster. Politicians will not let the world fail. Must have a diversified portfolio. :D
Bro, my way of working does not work for everyone. The rule is to tailor it to suit your risk profile. You need to understand the type of person you are before entering into any financial instrument/investment.
I am just sharing but the individual needs to package it to suit his/her style. The best package is always to take from here, then take from there, and voila - new cheese cake.
And bro, I do research until my hair white. During lehman bro time, I told myself, this is alifetime opportunity. So I read on the great depression, what caused it, what turned it around. So I was expecting this to be long, then suddenly, QE came out. Gave me shock of my life.
This one you definitely understand. Do you know what is QE. It is a quick fix to a sickness via anti-biotics, given too often and too much. The body forms a resistance to it and ultimately, with the next bout, the person because so sick. I hope you get what the QE is going to do with the economy. So please prepare for this. When it is going to happen is anybodies guess. But with the next recession, it is going to be one HELL of a BIG.
Secretariat
12-10-12, 20:22
Chestnut, appreciate all your in depth sharing.
At this moment, are u a bear or bull on property?
Sounds like you r a bear but I read somewhere u just paid 15% to lawyer for another pty, or wad it you, didn't really read back. Hehe
Hope I m not imposing too much on u...:tsk-tsk:
He is a bull, which can run very fast to the exit.
I was researching a lot just before Lehman and QE. Read books, websites and listen to experts. They are just deferring the pain. The world is much closer apart now than during the depression and information moves in milliseconds or faster. Politicians will not let the world fail. Must have a diversified portfolio. :D
They are deferring pain. This I agree. But I believe the next recession will be big. Because of all this dose of anti biotics. I seriously hope I am wrong.
;)
He is a bull, which can run very fast to the exit.
Secretariat is right to an extend. My game plan is diff. I try my best to explain. Remember, this is as of now, things changes and u have to be quick to react.
Just about 2 month ago, I was a bear, signs were showing cracks. Then came ecb commitment to purchase govt bonds. This save euro. Then came qe3. Then came news of getting more foreigners to Singapore. All this showed potential gains. And with interest so low, it should show some gains. Wich is why the govt came out with new cm.howlong this will last is anybody's guess. Yes I did buy 1 more. But bear in mind, even if I don't sell, I still can ride it and collect rental.
In the event price go up and I see cracks, I can easily sell 1 of my other units. This is my exit route, so for the unit I bot, I will not sell and thus not incur SSD.
I am looking at it from and investment standpoint as I believe in ups and downs of the cycle. But u must be prepared for a black swan. And if it happens and there is no way you can ride it, please think twice.
Hope it helps.
Up interest of loan to 4pc, see that 1.8m loan causing stress or not
Sweat if 4%
They are deferring pain. This I agree. But I believe the next recession will be big. Because of all this dose of anti biotics. I seriously hope I am wrong.
;)
Bro, can u remember 97 crisis and what IMF did to Asia? To get the loan, the country must go on austerity mode. That's wat made Asia stronger.
But with the caucasian countries, they cannot take the pain, thus printing of money occurs. So wat do think will happen?
Another point, google when are Greece next repayment, especially big sums, the market tends to shake whenever payment due.
Secretariat
13-10-12, 08:04
Secretariat is right to an extend. My game plan is diff. I try my best to explain. Remember, this is as of now, things changes and u have to be quick to react.
Just about 2 month ago, I was a bear, signs were showing cracks. Then came ecb commitment to purchase govt bonds. This save euro. Then came qe3. Then came news of getting more foreigners to Singapore. All this showed potential gains. And with interest so low, it should show some gains. Wich is why the govt came out with new cm.howlong this will last is anybody's guess. Yes I did buy 1 more. But bear in mind, even if I don't sell, I still can ride it and collect rental.
In the event price go up and I see cracks, I can easily sell 1 of my other units. This is my exit route, so for the unit I bot, I will not sell and thus not incur SSD.
I am looking at it from and investment standpoint as I believe in ups and downs of the cycle. But u must be prepared for a black swan. And if it happens and there is no way you can ride it, please think twice.
Hope it helps.
Thank you bro for the insight.
Everyone has his own view of the world economy. In my view, I see hyper-inflation as the goal of the central bankers, not for a sustained period but nonetheless a time for it to evolve.
Thank you bro for the insight.
Everyone has his own view of the world economy. In my view, I see hyper-inflation as the goal of the central bankers, not for a sustained period but nonetheless a time for it to evolve.
I agree with the inflation part. Another few key dates are repayment from Greece. Noticed, every time come repayment of huge amount, fear of default comes around and stocks get shaken. But with ecb commitments to loan, this problem may go away. So the issues I face today is, things keep happening and changing. The market is so damn dynamic. I am definitely more confident about the future compared w 2 to 3 month ago.
About a few months ago, I was in Shenzhen and the factory orders were way down. But things have started to pick up again. I do have certain advantages to insights then most people. But I really cannot predict accurately. Why, because when it is about to crack, the govt may throw another life jacket out.
Hope you understand my predicament and dilemma.
Cheers;) ;)
Secretariat
13-10-12, 08:36
Hope you understand my predicament and dilemma.
Cheers;) ;)
Oh, I thought that your plan or positioning is sensible...;)
Secretariat
13-10-12, 08:49
I agree with the inflation part. Another few key dates are repayment from Greece. Noticed, every time come repayment of huge amount, fear of default comes around and stocks get shaken. But with ecb commitments to loan, this problem may go away. So the issues I face today is, things keep happening and changing. The market is so damn dynamic. I am definitely more confident about the future compared w 2 to 3 month ago.
Cheers;) ;)
Don't be surprised that if Grrece indeed defaults, the markets rally big time.
Lots of write down done in these 2 years, and the GDP of Greece is like USD300 bil? In another 5 years, the world can forget about PIGS economy. :doh:
You are right. We are all in a raft with holes Whenever there is a QE injection, some of the holes got plug and slightly inflated with air. However, there are other holes getting bigger. What do think of sinking raft with numerous holes?:doh:
I agree with the inflation part. Another few key dates are repayment from Greece. Noticed, every time come repayment of huge amount, fear of default comes around and stocks get shaken. But with ecb commitments to loan, this problem may go away. So the issues I face today is, things keep happening and changing. The market is so damn dynamic. I am definitely more confident about the future compared w 2 to 3 month ago.
About a few months ago, I was in Shenzhen and the factory orders were way down. But things have started to pick up again. I do have certain advantages to insights then most people. But I really cannot predict accurately. Why, because when it is about to crack, the govt may throw another life jacket out.
Hope you understand my predicament and dilemma.
Cheers;) ;)
You are right. We are all in a raft with holes Whenever there is a QE injection, some of the holes got plug and slightly inflated with air. However, there are other holes getting bigger. What do think of sinking raft with numerous holes?:doh:
Agree. That's why whenever there is QE, I try to participate and earn some kopi money.
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