View Full Version : Hypothetical example
Hi all... I will like to check if the following proposition is workable? Please do correct me if my hypothetical assumption and approach is wrong? (Minus away family, ethical values)
Let's us look at this example in financial protocol:
1) HDB Flat in Tiong Bahru 5 room High Floor, near to MRT selling - 1 mil SGD. (Valuation @ 1mil - assumption)
2) Transfer property to wife's name ONLY and removing my name or vice versa - Lawyer Fees = 5kSGD, and Stamp Duty (500k*3%-5400).
3) Next, ask my wife to loan the remaining half value of 500k (1mil SGD valuation price) I will recieve 500k SGD with a portion going back to my CPF OA.
4) Violia! I am one with zero loan and owner - Eligible for 80% loan with no 7% ABSD.
5) I will then activated this 500k SGD (Cash+OA), together with loan 80% to buy a second property (ideally at 1.8mil @ Mt Sinai). Sole ownership.
6) 80% of 1.8mil SGD = 1.4mil SGD loan @ 30 years
7) 20% downpayment = 360k SGD
8) Stamp duty = 50k SGD (Inclusive of stamp duty 500SGD)
9) Lawyer fees = 5k SGD
10) Total cost = 360k+49k+5k = 415k SGD
11) Balanced (500k -415k) = 85k SGD
12) 85K can be keep or used to repay my wife loan on Tiong Bahru HDB.
13) Current Tiong Bahru outstanding loan = 450K SGD approximately.
14) Potential loan taken by wife = 450k + 500k = 950kSGD.
15) Wife will pay 30 years loan for 950k for Tiong Bahru HDB 5 room.
As above proposition, is it possible technically and if it will create any backlash and liabilities?
Please kindly throw in your thoughts, opinions and views.
Please refrain from flaming if possible.
Thanks.
Your liabilities as a whole has ballooned.
1) Your wife: 950,000
2) You loan 80%, so 500,000 is 20%. Therefore your liabilities is: 2,000,000
Total liabilities : Approx S$3,000,000
:scared-5:
I count like this better than your banker or not?
WOAHAHHEHEHEHEHHEHEh
Your liabilities as a whole has ballooned.
1) Your wife: 950,000
2) You loan 80%, so 500,000 is 20%. Therefore your liabilities is: 2,000,000
Total liabilities : Approx S$3,000,000
:scared-5:
I count like this better than your banker or not?
WOAHAHHEHEHEHEHHEHEh
Your liailities is catching up mine if you implement this plan.
WOAAHHHEHEHEHEHEHHEHE
Your liabilities as a whole has ballooned.
1) Your wife: 950,000
2) You loan 80%, so 500,000 is 20%. Therefore your liabilities is: 2,000,000
Total liabilities : Approx S$3,000,000
:scared-5:
I count like this better than your banker or not?
WOAHAHHEHEHEHEHHEHEh
Hi...what if it's only 1.8mil SGD development in Mt Sinai; with reference to my first post's example. I be loaning around 1.4 mil SGD.
So, how do you calculate to 3 mil SGD then? Please kindly enlighten me. TIA.
You have to ask yourself if it is a good debt or bad debt. For example a car could a liablity as it is a bad debt to many people.
You have to ask yourself if it is a good debt or bad debt. For example a car could a liablity as it is a bad debt to many people.
Hi...it is supposedly a good debt, but I would need more balanced views and opinions to assess if this plan is feasible and justifiable.
In Hong Kong and Shanghai, the yearly mortgage liabilities is 50x the average salary of a professional which is about US$10,000.
So, I expect them to pay like US$500,000 worth of liabilities .
Your liabilities is S$3,000,000
I do not have data on Singapore. But assuming that I can extrapolate the above concept.
You should have household income of around S$3,000,000 /50 = S$60,000. Are you and your wife earning that kind of salary ?
In Hong Kong and Shanghai, the yearly mortgage liabilities is 50x the average salary of a professional which is about US$10,000.
So, I expect them to pay like US$500,000 worth of liabilities .
Your liabilities is S$3,000,000
I do not have data on Singapore. But assuming that I can extrapolate the above concept.
You should have household income of around S$3,000,000 /50 = S$60,000. Are you and your wife earning that kind of salary ?
Hi...Our combined household income is around 7.5K++ SGD.
Could you share with me how do you calculate 3 Mil SGD liability, I do not understand this mathematical portion.
hdb can u suka suka transfer to ur wife ah:confused:
what is your monthly salary or combined with your wife?
this is overleveraging. one policy change by the government or mortgage rate measures you'll be wiped out
Hi...what if it's only 1.8mil SGD development in Mt Sinai; with reference to my first post's example. I be loaning around 1.4 mil SGD.
So, how do you calculate to 3 mil SGD then? Please kindly enlighten me. TIA.
I thought you say you paid $500,000 downpayment. So that is 20% =S$500,000 since you taking 80% loan? Maybe I misunderstood your information.
If not,
20% =500,000
20%= 500,000
20% =500,000
20%= 500,000
20% =500,000
============
100% = 2,500,000
less downpayment 500,000
Your loan: 2,000,000
Your wife loan : 950,000
====================
Total : 2,950,000
WOAHAHHEHEHHEHEHEHEHEHEH
Hi...Our combined household income is around 7.5K++ SGD.
Could you share with me how do you calculate 3 Mil SGD liability, I do not understand this mathematical portion.
Read my post above.
hdb can u suka suka transfer to ur wife ah:confused:
Hi radha08...I am unsure if it can work. Hence, I am listing out a hypothetical example to squeeze more money for the Mt Sinai development.
Hi all... I will like to check if the following proposition is workable? Please do correct me if my hypothetical assumption and approach is wrong? (Minus away family, ethical values)
5) I will then activated this 500k SGD (Cash+OA), together with loan 80% to buy a second property (ideally at 1.8mil @ Mt Sinai). Sole ownership.
Thanks.
I thought you say you paid $500,000 downpayment. So that is 20% =S$500,000 since you taking 80% loan? Maybe I misunderstood your information.
If not,
20% =500,000
20%= 500,000
20% =500,000
20%= 500,000
20% =500,000
============
100% = 2,500,000
less downpayment 500,000
Your loan: 2,000,000
Your wife loan : 950,000
====================
Total : 2,950,000
Read my post above.
Hi... Thanks for the clearer explanation.
Ok, let's set the record right. What if:
1. wife total loan = 950k SGD for Tiong Bahru HDB 5 room Flat
2. Mine total loan = 1.4mil SGD for Mt Sinai 2 bedder
Both at 30 years loan.
We will have around 80kSGD cash/CPF fund on hand.
This is accordance to my first post's example.
How will this scenario paint out? TIA again.
Your liabilities as a whole has ballooned also if your loan is not 2,000,000 but 1,400,000.
1) Your wife: 950,000
2) You loan : 1,400,000
Total liabilities : Approx S$2,350,000
In Hong Kong and Shanghai, the yearly mortgage liabilities is 50x the average salary of a professional which is about US$10,000.
So, I expect them to pay like US$500,000 worth of liabilities .
Your liabilities is S$2,350,000
I do not have data on Singapore. But assuming that I can extrapolate the above concept.
You should have household income of around S$2,350,000 /50 = S$47,000. Are you and your wife earning that kind of salary ?
Hi... Thanks for the clearer explanation.
Ok, let's set the record right. What if:
1. wife total loan = 950k SGD for Tiong Bahru HDB 5 room Flat
2. Mine total loan = 1.4mil SGD for Mt Sinai 2 bedder
Both at 30 years loan.
We will have around 80kSGD cash/CPF fund on hand.
This is accordance to my first post's example.
How will this scenario paint out? TIA again.
Read my above post. You have to try to lower your liabilities by buying a less expensive home or just keep to only one home both as own stay and investment.
Otherwise, make sure your monthly household income can hit S$40,000 soon.
Maybe other brothers and sisters have better suggestion? Let's wait for their replies ;)
HDB how to tranfer to only one name??
Your liabilities as a whole has ballooned also if your loan is not 2,000,000 but 1,400,000.
1) Your wife: 950,000
2) You loan : 1,400,000
Total liabilities : Approx S$2,350,000
In Hong Kong and Shanghai, the yearly mortgage liabilities is 50x the average salary of a professional which is about US$10,000.
So, I expect them to pay like US$500,000 worth of liabilities .
Your liabilities is S$2,350,000
I do not have data on Singapore. But assuming that I can extrapolate the above concept.
You should have household income of around S$2,350,000 /50 = S$47,000. Are you and your wife earning that kind of salary ?
Hi...based on your repeated emphasize on the mortgage liabilities index of 50x.
This is critical?
If I lower to 1.5mil SGD property development. 80% of the loan will be:
1) Mt Sinai very old property loan 80% = 1.2 mil SGD.
2) Wife's HDB loan = 950kSGD.
3) As I mentioned, I will have 500kSGD (OA+Cash from my wife's shares transfer). I will have a surplus of 200kSGD approximately after paying off the 20% downpayment.
4) I could potentially lower my wife's liability to 750kSGD.
Total will be 1.2Mil + 750kSGD = 1.95 Mil SGD.
Will this formulae and methodology works if I keep "downsizing" my property purchase etc?
TIA again, and again.
HDB how to tranfer to only one name??
Hi...Is it not possible?
Hi...based on your repeated emphasize on the mortgage liabilities index of 50x.
This is critical?
If I lower to 1.5mil SGD property development. 80% of the loan will be:
.....
TIA again, and again.
After analysing your information & method; from my gut feeling, you have no intention to hold the properties for long term, am I correct to say that?
The main subject of this method is that you have just ballooned your wife's liabilities to nearly S$1million.
After analysing your information & method; from my gut feeling, you have no intention to hold the properties for long term, am I correct to say that?
Mt Sinai would probably be the final one - I need to house all my family members and enrol my boys into Henry Park Primary.
I may or may not dispose Tiong Bahru HDB 5 room flat, depending on the outlook of the economy and the emigration policy from the MOM/Government.
I am trying to maximise what I can in anticipation of low interest rate and hot money flow globally.
Please advise if my methodology is workable or not? TIA.
After analysing your information & method; from my gut feeling, you have no intention to hold the properties for long term, am I correct to say that?
The main subject of this method is that you have just ballooned your wife's liabilities to nearly S$1million.
I see either a very ambitious person or a very greedy one.
WOWHAAHAHHEHHEHEHEHHEHEH
Mt Sinai would probably be the final one - I need to house all my family members and enrol my boys into Henry Park Primary.
I may or may not dispose Tiong Bahru HDB 5 room flat, depending on the outlook of the economy and the emigration policy from the MOM/Government.
I am trying to maximise what I can in anticipation of low interest rate and hot money flow globally.
Please advise if my methodology is workable or not? TIA.
I let the other wiser brothers advise you. For me, I think you are taking a big risk because of your income; unless you have other real assets like stocks or gold?
Most young people at your income level would be contented at a new HDB in Pasir Ris or maybe an EC.
I let the other wiser brothers advise you. For me, I think you are taking a big risk because of your income; unless you have other real assets like stocks or gold?
Most young people at your income would be contented at a new HDB in Pasir Ris.
My wife and myself are already 36 year old, and we are trying ways to help ourselves and our children.
We only have around 50kSGD from our parents and in-laws disposal rental income.
Mt Sinai would probably be the final one - I need to house all my family members and enrol my boys into Henry Park Primary.
I may or may not dispose Tiong Bahru HDB 5 room flat, depending on the outlook of the economy and the emigration policy from the MOM/Government.
I am trying to maximise what I can in anticipation of low interest rate and hot money flow globally.
Please advise if my methodology is workable or not? TIA.
Low interest rates will not last for 30yrs, which is your planned loan period.
Your current income will limit your loan amount.
Any upswing in interests rates, you will have no buffer.
Any health issues, though you may take up mortgage protection plan MPP for both wife and husband as both are stucked with liabilities, it does not come cheap in order to protect the asset. (based on your age, up to 5K annually per pax in premiums for the MPP)
Do you have buffer for 1-2 yr of loan repayments (both spouse and you) ?
Do you have millionaire relatives to turn to?
Your proposed route attracts unacceptable risks.
Low interest rates will not last for 30yrs, which is your planned loan period.
Your current income will limit your loan amount.
Any upswing in interests rates, you will have no buffer.
Any health issues, though you may take up mortgage protection plan MPP for both wife and husband as both are stucked with liabilities, it does not come cheap in order to protect the asset. (based on your age, up to 5K annually per pax in premiums for the MPP)
Do you have buffer for 1-2 yr of loan repayments (both spouse and you) ?
Do you have millionaire relatives to turn to?
Your proposed route attracts unacceptable risks.
Assuming if I dispose my parents/in-law's HDB and have a disposal cash amount to 300kSGD. (I will not touch and instead place it in the bank or stocks etc)
Would it migitate and helps in the methodology approach?
phantom_opera
24-05-13, 15:16
I already told yowetan the only way out is to sell parents + PILs HDBs
I already told yowetan the only way out is to sell parents + PILs HDBs
Hi...what if I still want to keep all three HDBs, but taking the proposed route which stated in my first post in this thread.
Will it be feasible, as long I am keeping the development value low i.e. 1.5mil SGD and below?
Your input is appreciated.
CondoInterested
24-05-13, 15:21
In Singapore, for a married couple, HDB must have 2 names ownership. Only singles above 35 can have 1 name ownership.
That is why PRC couples divorce for the purpose to hold 2 properties.
Know the rules before letting your brain dreaming wild or is there another Mt Senile in JB?
For a married couple, HDB must have 2 names ownership. Only singles above 35 can have 1 name ownership.
That is why PRC couples divorce for the purpose to hold 2 properties.
Know the rules before letting your brain dreaming wild.
Hi...I am trying to find a best methodology to have:
1. 80% loan
2. 0% ABSD
Let me check with my MP if it's possible to do transfer to one owner name etc? or have my mother with my wife name instead?
CondoInterested
24-05-13, 15:26
Hi...I am trying to find a best methodology to have:
1. 80% loan
2. 0% ABSD
Let me check with my MP if it's possible to do transfer to one owner name etc? or have my mother with my wife name instead? Mother and daughter, similar situation I have encounter before for a father and son, but the son was about to get married (that is not yet ROM) to by pass the minimum salary for hubby wiffy combi. But the father has to sell his flat, same applies here.
Whatever you can think of, many areas already covered tight tight by our scholars MIW.
Sorry to spoil your fun and burst your bubble, but this is the hard truth.
Assuming if I dispose my parents/in-law's HDB and have a disposal cash amount to 300kSGD. (I will not touch and instead place it in the bank or stocks etc)
Would it migitate and helps in the methodology approach?
Selling out all the hdbs, may be the only option.
Ballpark figure, if you managed to get a 1.2m or 1.5m loan for 30yrs, your monthly payments at today's low interests rates would be approx $4k -$5k per mth ! and you have no rental income! + have to pay mthly condo arrears.
Have you considered just getting your Sinai dream as investment with no intention to pay up full, stay for a few yrs, at the same time collect rentals from all your HDBs ? When time is right, sell away Mt Sinai and move back to HDBs? :D
Selling out all the hdbs, may be the only option.
Ballpark figure, if you managed to get a 1.2m or 1.5m loan for 30yrs, your monthly payments at today's low interests rates would be approx $4k -$5k per mth ! and you have no rental income! + have to pay mthly condo arrears.
Have you considered just getting your Sinai dream as investment with no intention to pay up full, stay for a few yrs, at the same time collect rentals from all your HDBs ? When time is right, sell away Mt Sinai and move back to HDBs? :D
Hi...It is also possible. But Mt Sinai stay has to be around 10 years.
With that, is it still possible to chase this dream?
thomaspaine
24-05-13, 15:36
Hi...Our combined household income is around 7.5K++ SGD.
Could you share with me how do you calculate 3 Mil SGD liability, I do not understand this mathematical portion.
Hi yowetan
With all due respect , I think your proposal (if workable) is TOO RISKY.
What if prices tumble n one of you lose your job?
Build your reserves first.
Hi yowetan
With all due respect , I think your proposal (if workable) is TOO RISKY.
What if prices tumble n one of you lose your job?
Build your reserves first.
Hi...noted with thanks.
I am just dishing out a hypothethical example, exploring the feasibility.
I am wondering what would be the ideal debt exposure for me and my spouse.
Mother and daughter, similar situation I have encounter before for a father and son, but the son was about to get married (that is not yet ROM) to by pass the minimum salary for hubby wiffy combi. But the father has to sell his flat, same applies here.
Whatever you can think of, many areas already covered tight tight by our scholars MIW.
Sorry to spoil your fun and burst your bubble, but this is the hard truth.
Hi...if that's the case - I will have another idea; repositioning portfolio.
1) Sell the Tiong Bahru HDB flat for 1 Mil SGD.
2) Balanced would be (1 Mil - 450k Loan) = 550k SGD.
3) Then we will aim for one MM/1bedder near MRT, assuming 800k - 20% loan from my wife name ONLY = 160kSGD. (assuming TOP 2018 etc)
4) Remaining sum = 550k - 160k = 390k.
5) Get a Mt Sinai old apartment @ 1.5mil SGD, 20% Downpayment = 300k.
6) Balanced = 90k SGD cash/CPF.
7) Both two properties loan at 80% loan with zero ABSD at 30 years.
8) Will lease out MM/1bedder upon completion.
How will this re-shuffle of plan works then?
jonathann80
24-05-13, 16:10
Why dun everyone in your family apply for divorce. Then each above 35 can own a HDB and you can maximise your HDB rental.
CondoInterested
24-05-13, 16:13
Your description is messy.
Let's put them into logical order, correct me if I am wrong,
1. Tiong Bahru HDB how many room flat, got SGD1m? Exec Mansionate?
2. Assume got SGD1m, so you have $500k cash? Or CPF? Or Cash / CPF, this have to be clear.
3. Are you assuming 80% LTV for SGD800k 1 bed MM? So it will be SGD640k loan. And 20% SGD160k for down payment from 2. But I thought first time one name private property, only 5% SGD40k Cash, 15% SGD130k cash/CPF, use CPF instead.
4. So SGD460k left, but still need to further deduct stamp duty, etc.
5. SGD1.5m, 80% LTV under another name first time private property, loan is SGD1.2m. 5% cash is SGD75k, 15% Cash/CPF SGD225k.
6. What ever you have balance in cash or CPF.
7. So you have SGD1.84m in loan for 30 years, 1 month payment easily more than SGD6k, higher when interest goes up.
8. MM Rent SGD3k? 1 HDB 2.5k (assume 4 rm and above) and 2 HDB SGD5k? total SGD8k?
Hi...if that's the case - I will have another idea; repositioning portfolio.
1) Sell the Tiong Bahru HDB flat for 1 Mil SGD.
2) Balanced would be (1 Mil - 450k Loan) = 550k SGD.
3) Then we will aim for one MM/1bedder near MRT, assuming 800k - 20% loan from my wife name ONLY = 160kSGD. (assuming TOP 2018 etc)
4) Remaining sum = 550k - 160k = 390k.
5) Get a Mt Sinai old apartment @ 1.5mil SGD, 20% Downpayment = 300k.
6) Balanced = 90k SGD cash/CPF.
7) Both two properties loan at 80% loan with zero ABSD at 30 years.
8) Will lease out MM/1bedder upon completion.
How will this re-shuffle of plan works then?
There is a 3% SSD on the 1.5m Mt Sinai= $$45K to miw
Spouse's MM also attract 3% SSD on 800K = $24K to miw
you will need to have CPF min sum cash component of $74K in CPF (i.e. 50% of MS of 148K) untouched before you can do anything with the OA+SA. This goes for your spouse too.
BTW, 90K - 45K - 24K=21K
If both of you have min sum in CPF, you may consider getting a tenanted MM so that the cash flow is already in place. Instead of waiting for MM BUC. I supposed the MM BUC is your plan to build up more funds, :o
CondoInterested
24-05-13, 16:17
Why dun everyone in your family apply for divorce. Then each above 35 can own a HDB and you can maximise your HDB rental.Not all qualify for loan, especially those not working and older in age.
CondoInterested
24-05-13, 16:18
There is a 3% SSD on the 1.5m Mt Sinai= $$45K to miw
Spouse's MM also attract 3% SSD on 800K = $24K to miw
you will need to have CPF min sum cash component of $74K in CPF (i.e. 50% of MS of 148K) untouched before you can do anything with the OA+SA. This goes for your spouse too.
BTW, 90K - 45K - 24K=21K
If both of you have min sum in CPF, you may consider getting a tenanted MM so that the cash flow is already in place. Instead of waiting for MM BUC. I supposed the MM BUC is your plan to build up more funds, :oIf your SA has all the SGD74k for minumum sum, then OA can use.
Your description is messy.
Let's put them into logical order, correct me if I am wrong,
1. Tiong Bahru HDB how many room flat, got SGD1m? Exec Mansionate?
2. Assume got SGD1m, so you have $500k cash? Or CPF? Or Cash / CPF, this have to be clear.
3. Are you assuming 80% LTV for SGD800k 1 bed MM? So it will be SGD640k loan. And 20% SGD160k for down payment from 2. But I thought first time one name private property, only 5% SGD40k Cash, 15% SGD130k cash/CPF, use CPF instead.
4. So SGD460k left, but still need to further deduct stamp duty, etc.
5. SGD1.5m, 80% LTV under another name first time private property, loan is SGD1.2m. 5% cash is SGD75k, 15% Cash/CPF SGD225k.
6. What ever you have balance in cash or CPF.
7. So you have SGD1.84m in loan for 30 years, 1 month payment easily more than SGD6k, higher when interest goes up.
8. MM Rent SGD3k? 1 HDB 2.5k (assume 4 rm and above) and 2 HDB SGD5k? total SGD8k?
Hi...sorry for the messy description. My replies are as follows:
1. 5 room HDB Tiong Bahru unit - High Floor - 4 rooms.
2. The 500kSGD balance will be in the combination of cash and CPF assuming 1mil - 450K (outstanding loan), 50k will be used for other miscellaous charges.
3. I am intending to use this 500kSGD in cash/OA to break into two seperate purchases - MM/1bedder around 800kSGD or lesser, and a Mt Sinai apartment of 1.5mil and below. Each is 20% Downpayment. 160K for MM is achievable from my wife, and 300k for Mt Sinai will tap from the 500kSGD inclusive of whatever remains in my CPF OA.
4. Stamp duty for 1.5mil - 40K, and 800k - 19K respectively. Total stamp duty would be 60K inclusive of stamp duty of 500SGD each.
5. Refer to point 3 - I am intending to use 300K bulk + my CPF OA for the 20%.
6. Above point (5) and (3).
7. Yes. Total loan would be 1.2mil + 640k = 1.84mil SGD. Calculated at 30 years.
8. I am intending to let MM self-generate and self-fund its mortage loan with rental income.
Am I going too far?
Teo tan, u say market going to crash, I think u should wait for it to crash then tink of your hypo example....hahahaha
There is a 3% SSD on the 1.5m Mt Sinai= $$45K to miw
Spouse's MM also attract 3% SSD on 800K = $24K to miw
you will need to have CPF min sum cash component of $74K in CPF (i.e. 50% of MS of 148K) untouched before you can do anything with the OA+SA. This goes for your spouse too.
BTW, 90K - 45K - 24K=21K
If both of you have min sum in CPF, you may consider getting a tenanted MM so that the cash flow is already in place. Instead of waiting for MM BUC. I supposed the MM BUC is your plan to build up more funds, :o
Ok...now I am confused.
If I sold off my HDB flat and restore everything to normal. Would I still need to obliged to the CPF min. sum requirement? I think NO right?
This is at assumption I am getting my "first" property AGAIN.
Please correct me if I am technically wrong. TIA.
Note: Yes, MM BUC is to build more funds.
Your idea of getting tenanted MM is also a nice idea. But my budget would be 800kSGD and below in order to avoid hefty debt liabilities?
Teo tan, u say market going to crash, I think u should wait for it to crash then tink of your hypo example....hahahaha
Hi... as mentioned - It is hypothethical and if it's feasible in idea and methodology, no harm trying it. Right?
CondoInterested
24-05-13, 16:30
Ok...now I am confused.
If I sold off my HDB flat and restore everything to normal. Would I still need to obliged to the CPF min. sum requirement? I think NO right?
This is at assumption I am getting my "first" property AGAIN.
Please correct me if I am technically wrong. TIA.
Note: Yes, MM BUC is to build more funds.
Your idea of getting tenanted MM is also a nice idea. But my budget would be 800kSGD and below in order to avoid hefty debt liabilities?Minimum sum combi of OA+SA not able to use for property is a must. MIW rule also, cannot change.
Minimum sum combi of OA+SA not able to use for property is a must. MIW rule also, cannot change.
Hi...even for my first property?
I mean when I sold off my HDB - I won't have any property. So, my CPF OA will be restored to original amount.
Why can't I exhaust all my OA? I am confuse now.
CondoInterested
24-05-13, 16:36
Hi...sorry for the messy description. My replies are as follows:
1. 5 room HDB Tiong Bahru unit - High Floor - 4 rooms.
2. The 500kSGD balance will be in the combination of cash and CPF assuming 1mil - 450K (outstanding loan), 50k will be used for other miscellaous charges.
3. I am intending to use this 500kSGD in cash/OA to break into two seperate purchases - MM/1bedder around 800kSGD or lesser, and a Mt Sinai apartment of 1.5mil and below. Each is 20% Downpayment. 160K for MM is achievable from my wife, and 300k for Mt Sinai will tap from the 500kSGD inclusive of whatever remains in my CPF OA.
4. Stamp duty for 1.5mil - 40K, and 800k - 19K respectively. Total stamp duty would be 60K inclusive of stamp duty of 500SGD each.
5. Refer to point 3 - I am intending to use 300K bulk + my CPF OA for the 20%.
6. Above point (5) and (3).
7. Yes. Total loan would be 1.2mil + 640k = 1.84mil SGD. Calculated at 30 years.
8. I am intending to let MM self-generate and self-fund its mortage loan with rental income.
Am I going too far?
My answer already given to you. More than SGD6k monthly repayment after TOP, before is progressive payment, you work it out yourself, if can, go, if cannot, don't go.
The CPF / CASH is for you to work out clearly so as you can keep more cash and use most of the CPF.
Besides minimum sum SGD74k OA+SA combi which cannot touch, your first 60k in OA has 1% additional interest from CPF assuming all your minimum sum comes from SA.
CondoInterested
24-05-13, 16:37
Hi...even for my first property?
I mean when I sold off my HDB - I won't have any property. So, my CPF OA will be restored to original amount.
Why can't I exhaust all my OA? I am confuse now.
You can exhaust your OA if your SA has 74k.
Say if your SA only 44k, then your OA 30k cannot use.
Ok...now I am confused.
If I sold off my HDB flat and restore everything to normal. Would I still need to obliged to the CPF min. sum requirement? I think NO right?
This is at assumption I am getting my "first" property AGAIN.
Please correct me if I am technically wrong. TIA.
Note: Yes, MM BUC is to build more funds.
Your idea of getting tenanted MM is also a nice idea. But my budget would be 800kSGD and below in order to avoid hefty debt liabilities?
Min Sum is a must per MIW. If you have $$ in CPF in excess of Min Sum, you can use that, and leave the min sum untouched as cash component. CPF investments are not counted as contributing to the Min Sum calculations.
For tenanted MM, you typically come up with the 3% SSD + 20% DP, and the monthly mortgage is already offset by the rental. For BUC, you have to plonk down the 3% SSD +20% DP, + progressive payments to the bank, and still not collecting any rentals yet up to TOP.
Min Sum is a must per MIW. If you have $$ in CPF in excess of Min Sum, you can use that, and leave the min sum untouched as cash component. CPF investments are not counted as contributing to the Min Sum calculations.
For tenanted MM, you typically come up with the 3% SSD + 20% DP, and the monthly mortgage is already offset by the rental. For BUC, you have to plonk down the 3% SSD +20% DP, + progressive payments to the bank, and still not collecting any rentals yet up to TOP.
Hi... thanks for the breakdown.
Please allow me to further challenge the min sum of cpf issue. I believe min sum is only applicable if I am getting 2nd property and beyond?
Assuming my wife and myself each getting our own properties as mentioned in this thread. It should be our first property and we should not be impact or bind by the min sum requirement. Shouldn't this be the way?
My answer already given to you. More than SGD6k monthly repayment after TOP, before is progressive payment, you work it out yourself, if can, go, if cannot, don't go.
The CPF / CASH is for you to work out clearly so as you can keep more cash and use most of the CPF.
Besides minimum sum SGD74k OA+SA combi which cannot touch, your first 60k in OA has 1% additional interest from CPF assuming all your minimum sum comes from SA.
Exactly. And the Min Sum moves up 9K annually, including the Med Save. YT will need cash to top it up, else the bank will be stopped by CPF from deducting the mthly mortgage payments from the CPF accounts each time the MIW up the min sum. There will be penalty charges from the bank when that happens. Once a year if we do not monitor the changes in CPF min sum.:doh:
Hi... thanks for the breakdown.
Please allow me to further challenge the min sum of cpf issue. I believe min sum is only applicable if I am getting 2nd property and beyond?
Assuming my wife and myself each getting our own properties as mentioned in this thread. It should be our first property and we should not be impact or bind by the min sum requirement. Shouldn't this be the way?
YT, I suggest you visit the CPF website for detailed info. We do not wanna bore our forumers here with CPF SOPs. :sleep:
CondoInterested
24-05-13, 17:01
Since Ah Tan got so many scenerio, here is another scenerio,
1. Couple parents got a fully paid HDB market value now SGD4xxk.
2. Couple got a HDB market value now SGD5xxk, outstanding loan will soon be 5 digit (SGD9xk) in 2 months time. Monthly payment is $xxx for next 16 years.
3. Couple has between SGD1xxk to SGD2xxk combine in CPF and about slightly less amount in cash combine mainly reserve for family (with kids) use.
4. Couple has a PC BUC for retirement purpose, paid up to 20% till now, 60% LTV with monthly repayment of about $1500 (at current interest rate) after TOP for 29 years for a loan of SGD4xxk. Combine income cannot apply EC.
5. Couple officially retires between 15 to 19 years time.
High risk, low risk?
NorthernStar
24-05-13, 17:09
for age 36. I guess the max loan tenure only 29 years
for combined income of $7000, assume each earning $3500, the max loan you can get from bank is ard $3500*0.4*29*12 = $487,200. No ways for $1.2Mil loan per person.
phantom_opera
24-05-13, 17:21
Hi...what if I still want to keep all three HDBs, but taking the proposed route which stated in my first post in this thread.
Will it be feasible, as long I am keeping the development value low i.e. 1.5mil SGD and below?
Your input is appreciated.
Sg banks won't lent to u period
for age 36. I guess the max loan tenure only 29 years
for combined income of $7000, assume each earning $3500, the max loan you can get from bank is ard $3500*0.4*29*12 = $487,200. No ways for $1.2Mil loan per person.
Hi... even if I pledge my parents and in laws hdb., it wont be sufficient ?
Assuming bank gives loan of 40%x mthly salary , income per pax needs to be hovering around $9k - $10K per mth for a 1.2mil loan for 29yrs. After all the CMs, banks do not dish out 80% loans so easily per MIW's MAS. And mthly repayment hovering $4-$6k per mth at todays' low interest rates, depending on package. 3.5K or 7K pm household income cannot sustain 6K pm loan repayment. Max at 30% household income going into the loan repayment seems about right.
Superstar1
24-05-13, 17:34
Hi... even if I pledge my parents and in laws hdb., it wont be sufficient ?
Cannot use HDBs for collectrals....
Hi... even if I pledge my parents and in laws hdb., it wont be sufficient ?
You can try to look up the banks and get a AIP from them. You will know what is the max amt of $$ you can secure for the loan. They will also state the max price of the property you can buy.
Superstar1
24-05-13, 17:40
You can try to look up the banks and get a AIP from them. You will know what is the max amt of $$ you can secure for the loan. They will also state the max price of the property you can buy.
Nope...as mentioned HDBs cannot be leveraged upon
Nope...as mentioned HDBs cannot be leveraged upon
Not for collateral. AIP will answer YT's hypothetical questions. and AIPs will expire in 1 month. YT can ask another AIP for another hypothetical case he may have.
CondoInterested
24-05-13, 17:45
ah tan means sell away all 3 HDB to put in the cash into the 2 Condos if cannot get loan lah.
NorthernStar
24-05-13, 19:03
Hi... even if I pledge my parents and in laws hdb., it wont be sufficient ?
it is about ur capability for servicing the monthly repayment of the mortgage loan. Bank won't lent u extra amount of loan if u can't even service that monthly repayment.
btw, U can't pledge HDB with mortgage loan as mentioned by other bros here.
it is about ur capability for servicing the monthly repayment of the mortgage loan. Bank won't lent u extra amount of loan if u can't even service that monthly repayment.
btw, U can't pledge HDB with mortgage loan as mentioned by other bros here.
Hi...is there any alternative(s) to boast my loan capability?
Will the rental disposal income be classified under Debt servicing ratio on top of my 3.5k++ salary?
use this one to calculate how much you can borrow
http://www.propertyguru.com.sg/mortgage_affordability_calculator
use this one to calculate how much you can borrow
http://www.propertyguru.com.sg/mortgage_affordability_calculator
Hi Yowetan,
When you use that calculator, you cannot include your wife's salary in the annual income. The bank will not count your wife's salary if the property is under your name only.
Hi Yowetan,
When you use that calculator, you cannot include your wife's salary in the annual income. The bank will not count your wife's salary if the property is under your name only.
Hi...Thanks for the input.
Please check your PM. I will like to borrow some money from you.
Hi radha08...I am unsure if it can work. Hence, I am listing out a hypothetical example to squeeze more money for the Mt Sinai development.
ok if can let me know i have a LOngggggggg talk with my wife:D
Hi...Thanks for the input.
Please check your PM. I will like to borrow some money from you.
Hi Mary Lee....
I also want to borrow from you too if YT can...not much 1.5mil nia..:D :D :D !
ok if can let me know i have a LOngggggggg talk with my wife:D
Hi...please rest assure I will share it discreetly.
I am just worried it will be whistle-blow again.
ok if can let me know i have a LOngggggggg talk with my wife:D
hahaha...this subject have been discussing with my wife long time ago..and we have called CPF, consult property agents, bankers....etc and end result is KO :banghead: !
Hi Mary Lee....
I also want to borrow from you too if YT can...not much 1.5mil nia..:D :D :D !
Dear Brothers and Sisters,
I am so amused. Do you know I am an HDB upgrader?
But it's a nice joke for the weekend. Thanks.
Hi all...before drifting away.
Could you all challenge and points out the feasibility of the proposition set in this thread?
TIA.
Whole of sg population must contribute 50 cents so YWT can buy his obsessive Mt. Cyanide. Problem solved.
Condomania
24-05-13, 21:25
Hi YT,
Is staying at Mt Sinai the main motivation for ur children's future education at Henry Park Primary? Were u an ex pupil of that primary school? As u know, even if u stay witin 1km of the school, it would be difficult to enrol sometimes due to balloting.:beats-me-man:
CondoInterested
24-05-13, 21:25
That is a brilliant idea, 5m population, $0.50 1 person is $2.5m, yep problem solved.
I can contribute $0.50.
That is a brilliant idea, 5m population, $0.50 1 person is $2.5m, yep problem solved.
I can contribute $0.50.
Seriously ywt ....you could post your bank account here. Miracle happens.
Once u got the money, just make sure not to use it to promote a singing career.
Hi YT,
Is staying at Mt Sinai the main motivation for ur children's future education at Henry Park Primary? Were u an ex pupil of that primary school? As u know, even if u stay witin 1km of the school, it would be difficult to enrol sometimes due to balloting.:beats-me-man:
Hi...I am aware of this.
Besides education, I am also in love with the Mt Sinai.
Seriously ywt ....you could post your bank account here. Miracle happens.
Hi...this is a brilliant idea. But, I have basic integrity and I wouldn't want to anger the god by insisting Mt Sinai.
CondoInterested
24-05-13, 21:51
Hi...I am aware of this.
Besides education, I am also in love with the Mt Sinai.Thought in 2009 you are looking for Merawoods at Hillview?
Since you are still young, you can wait out for another cycle when everything crashes.
Thought in 2009 you are looking for Merawoods at Hillview?
Oh...you track it close for me; Yes, I was looking at the palce then.
I realise Hillview has it's limitation; a school is absent, and the accessiblity is questionable.
There is a bus service that shuttles me to office; but I prefer nearer locality i.e. Mt Sinai.
I am 36 year old, do you reckon I am still young?
CondoInterested
24-05-13, 21:56
Oh...you track it close for me; Yes, I was looking at the palce then.
I realise Hillview has it's limitation; a school is absent, and the accessiblity is questionable.
There is a bus service that shuttles me to office; but I prefer nearer locality i.e. Mt Sinai.
I am 36 year old, do you reckon I am still young?Young compare to a lot of us here.
Condomania
24-05-13, 21:57
Hi...I am aware of this.
Besides education, I am also in love with the Mt Sinai.
It's good that u r aware of the fact that staying nearby the school does not guarantee a place in that school.
I wish u all the best in finding a good residence in Mt Sinai. Maybe there will be other properties coming up in that area soon....
Meanwhile, u could share ur aspiration with ur children. Who knows, ur next generation would be able to fulfil ur dream in 20 years' time.
It's good that u r aware of the fact that staying nearby the school does not guarantee a place in that school.
I wish u all the best in finding a good residence in Mt Sinai. Maybe there will be other properties coming up in that area soon....
Meanwhile, u could share ur aspiration with ur children. Who knows, ur next generation would be able to fulfil ur dream in 20 years' time.
Hi...I am really working to that.
Thank you for reminding me the importance of sharing aspiration and influence my children to go beyond what I have stop so far.
I have never taken aback of whatsover challenges ahead, and I will try to get one Mt Sinai property in my lifetime, preferably before my children enroling into primary education.
Young compare to a lot of us here.
Hi...I may be younger than most of the forummers here; Time for me to get a 2nd property, a Mt Sinai property is getting lesser and shorter.
I am trying to make up for the lost time.
Yowetan's thread is interesting. So many people have replied in a few hours time.
shareidiot
24-05-13, 22:10
YT, u said ur tiong bahru flat is 4 room. How to be worth $1 mil?
Chked hdb resale price. Jln membina (5 min fr mrt) actual sales betw $680k - $7xxk.
As some forummers alr mentioned. Hdb cant hv only 1 owner unless u divorce ur spouse.
Your assumptions are not realistic & trying too hard to chase after material stuffs.
Condomania
24-05-13, 22:24
Though it's good to hv aspirations, still muz set realistic goals...
Always remember whatever u do, ur children see u as their role model and they will learn from u too....
YT, u said ur tiong bahru flat is 4 room. How to be worth $1 mil?
Chked hdb resale price. Jln membina (5 min fr mrt) actual sales betw $680k - $7xxk.
As some forummers alr mentioned. Hdb cant hv only 1 owner unless u divorce ur spouse.
Your assumptions are not realistic & trying too hard to chase after material stuffs.
Hi...I must agree the hypothetical case is illustrated with optimism.
Assuming my Tiong Bahru Flat can achieve 1mil SGD. Is my proposition feasible?
Break my HDB 1mil SGD and convert to two separate entities, to avoid 7% ABSD and achieving 80% Bank Loan.
Yowe, this is the best plan i have ever seen! You have got it figured out! dont let the nay sayers hinder you. go ahead, follow your sinai dream!
Hi all... I will like to check if the following proposition is workable? Please do correct me if my hypothetical assumption and approach is wrong? (Minus away family, ethical values)
Let's us look at this example in financial protocol:
1) HDB Flat in Tiong Bahru 5 room High Floor, near to MRT selling - 1 mil SGD. (Valuation @ 1mil - assumption)
2) Transfer property to wife's name ONLY and removing my name or vice versa - Lawyer Fees = 5kSGD, and Stamp Duty (500k*3%-5400).
3) Next, ask my wife to loan the remaining half value of 500k (1mil SGD valuation price) I will recieve 500k SGD with a portion going back to my CPF OA.
4) Violia! I am one with zero loan and owner - Eligible for 80% loan with no 7% ABSD.
5) I will then activated this 500k SGD (Cash+OA), together with loan 80% to buy a second property (ideally at 1.8mil @ Mt Sinai). Sole ownership.
6) 80% of 1.8mil SGD = 1.4mil SGD loan @ 30 years
7) 20% downpayment = 360k SGD
8) Stamp duty = 50k SGD (Inclusive of stamp duty 500SGD)
9) Lawyer fees = 5k SGD
10) Total cost = 360k+49k+5k = 415k SGD
11) Balanced (500k -415k) = 85k SGD
12) 85K can be keep or used to repay my wife loan on Tiong Bahru HDB.
13) Current Tiong Bahru outstanding loan = 450K SGD approximately.
14) Potential loan taken by wife = 450k + 500k = 950kSGD.
15) Wife will pay 30 years loan for 950k for Tiong Bahru HDB 5 room.
As above proposition, is it possible technically and if it will create any backlash and liabilities?
Please kindly throw in your thoughts, opinions and views.
Please refrain from flaming if possible.
Thanks.
Yowe, this is the best plan i have ever seen! You have got it figured out! dont let the nay sayers hinder you. go ahead, follow your sinai dream!
Hi...as much as I am encourage by your statement; it is unlike of a person of your such integrity and character though.
Nonetheless, appreciate your kind participation in this thread with zero flaming content.
shareidiot
24-05-13, 23:11
NOT feasible. This is aligned with my past response to your "dream" in other threads.
Again I express.... do live within your comfort zone.
Hi...I must agree the hypothetical case is illustrated with optimism.
Assuming my Tiong Bahru Flat can achieve 1mil SGD. Is my proposition feasible?
Break my HDB 1mil SGD and convert to two separate entities, to avoid 7% ABSD and achieving 80% Bank Loan.
Hi...as much as I am encourage by your statement; it is unlike of a person of your such integrity and character though.
Nonetheless, appreciate your kind participation in this thread with zero flaming content.As what others have pointed out, you would need to divorce your wife on paper first. that alone may take 3 years.
Maybe you should sell everything and move to Iskandar and get a 2.5 SGDMYR conversion rate to boot..:cheers1:
hi, yowetan,
as some pointed out, you have no way to get ur wife to own the HDB alone.
If you sells ur HDB at 1m, you need to pay 5% (3% sales stamp duty+2%agent fee) of it. therefore, you won't gain much by saving the 7% absd for ur Ridgewood of 1.5m.
besides, Ridgewood is old and a 1.5m unit at Ridgewood cannot accommodate your big family, including your mother-in-law, brother-in-law...
If you are so keen in henry park, why not you rent out your TB hdb and rent a unit for yourselves in Ridgewood? After all, Ridgewood is old and the rental is not so expensive.
another lesson is that although TB is CCR, it is actually not very convenient to stay there considering the education of kids.
hi, yowetan,
as some pointed out, you have no way to get ur wife to own the HDB alone.
If you sells ur HDB at 1m, you need to pay 5% (3% sales stamp duty+2%agent fee) of it. therefore, you won't gain much by saving the 7% absd for ur Ridgewood of 1.5m.
besides, Ridgewood is old and a 1.5m unit at Ridgewood cannot accommodate your big family, including your mother-in-law, brother-in-law...
If you are so keen in henry park, why not you rent out your TB hdb and rent a unit for yourselves in Ridgewood? After all, Ridgewood is old and the rental is not so expensive.
another lesson is that although TB is CCR, it is actually not very convenient to stay there considering the education of kids.
Hi... Thanks for the information.
I am unware of the 3 percent sales stamp duty tax though I could so the selling myself.
Will this 3 percent sales stamp duty tax applicable across all properties including those of private? TIA.
Yowetan,
I try hard not to flame you BUT after reading all your posts, i find that you are a lazy fella. A lot of the questions you asked can be answered if you bother to call agents or HDB or law firms or google.
You asked questions in forum may only get you more confused. Please do your own homework. Go out and ask people.
I read alot of your forum posts, be it watch, cars and renovations etc. I conclude that you ask the dumbest questions. You are really lazy. If you continue to be so stubborn, you will never make more than 3.5k/month (exclude the $10/day after working past 8pm).
shareidiot
25-05-13, 09:15
I agree with your point. Answers to questions he asked can easily be found in the internet (by googling).
Also, in his assumptions, all income returns & value of their properties are all inflated; while purchased price of Mt Sinai pushed downwards. Not realistic..
Beside buying a private property, there are many other expenses in life. Think about medical alone (parents & PIL)....... how about renovation, family vacation, etc...
Yowetan,
I try hard not to flame you BUT after reading all your posts, i find that you are a lazy fella. A lot of the questions you asked can be answered if you bother to call agents or HDB or law firms or google.
You asked questions in forum may only get you more confused. Please do your own homework. Go out and ask people.
I read alot of your forum posts, be it watch, cars and renovations etc. I conclude that you ask the dumbest questions. You are really lazy. If you continue to be so stubborn, you will never make more than 3.5k/month (exclude the $10/day after working past 8pm).
Yowetan,
I try hard not to flame you BUT after reading all your posts, i find that you are a lazy fella. A lot of the questions you asked can be answered if you bother to call agents or HDB or law firms or google.
You asked questions in forum may only get you more confused. Please do your own homework. Go out and ask people.
I read alot of your forum posts, be it watch, cars and renovations etc. I conclude that you ask the dumbest questions. You are really lazy. If you continue to be so stubborn, you will never make more than 3.5k/month (exclude the $10/day after working past 8pm).
Hi...you can choose to ignore this thread if it doesn't accomodate your mental thoughts.
Why need a school, with teachers to guide the pupils and students when the information is readily in the google/cyberworld?
Your kind abstrain from this thread shall be deeply appreciated.
Hi...you can choose to ignore this thread if it doesn't accomodate your mental thoughts.
Why need a school, with teachers to guide the pupils and students when the information is readily in the google/cyberworld?
Your kind abstrain from this thread shall be deeply appreciated.
You are an university graduate. Schools teach you to do research. At work they need you to analysize with research materials. Research means asking experts, google etc.
You are not a 7 year old kid who needs spoon feeding. So quit talking about teachers giving guidance. For goodness sake, you are going 40 very soon.
In life many people take risks. If you have confidence in your hdb and condo price level. Go ahead and execute ! Why worry this and that ??
I find you somewhat a confused person. In other thread you shout price crash, while in other you harp about your mt senile. You whine too much.
Hi Yowetan,
Maybe you can consider selling your HDB. Many years later when you inherit the other two HDB units, you still have to sell as at any one time you can own only one HDB. If you sell it now, you can save some trouble (to divorce or whatever), save 7% ABSD and relieve some immediate pressure. About $500,000 from the sales proceeds can be used as downpayment for your Mt Sinai. With this amount plus whatever savings you already have, maybe you won't have to "downgrade" from 1.8M to 1.5M and even to 1.2M. Since Mt Sinai is your dream home and probably your final one, get an ideal unit.
In this case, both your and your wife's names can be used to buy your Mt Sinai and get more loan without having to pay ABSD. Life would be much easier.
I reckon Yowetan is a bit stubborn. Nobody can change his mind.
Hi Yowetan,
Maybe you can consider selling your HDB. Many years later when you inherit the other two HDB units, you still have to sell as at any one time you can own only one HDB. If you sell it now, you can save some trouble (to divorce or whatever), save 7% ABSD and relieve some immediate pressure. About $500,000 from the sales proceeds can be used as downpayment for your Mt Sinai. With this amount plus whatever savings you already have, maybe you won't have to "downgrade" from 1.8M to 1.5M and even to 1.2M. Since Mt Sinai is your dream home and probably your final one, get an ideal unit.
In this case, both your and your wife's names can be used to buy your Mt Sinai and get more loan without having to pay ABSD. Life would be much easier.
I reckon Yowetan is a bit stubborn. Nobody can change his mind.
Hi...the issue is I do consider selling off my HDB flat; but it is my first HDB and I have some sentiment value over this unit.
Your strategy/suggestion was/is in consideration. I will relook into it and have a good discussion with my spouse.
Quality time spend with family is more valuable than property. Better spend the money for a quality time with the family.
Quality time spend with family is more valuable than property. Better spend the money for a quality time with the family.
Hi...A valid point indeed.
This is why I am hoping to get as big as possible unit in Mt Sinai to house all my family members.
Hi...A valid point indeed.
This is why I am hoping to get as big as possible unit in Mt Sinai to house all my family members.
That's not exactly what I meant. I think your story is a kind of sobering reminder for me. In pursuing of tomorrow.... I often neglect what is important today.
That's not exactly what I meant. I think your story is a kind of sobering reminder for me. In pursuing of tomorrow.... I often neglect what is important today.
Hi...I got your drift.
Yowetan,
I try hard not to flame you BUT after reading all your posts, i find that you are a lazy fella. A lot of the questions you asked can be answered if you bother to call agents or HDB or law firms or google.
You asked questions in forum may only get you more confused. Please do your own homework. Go out and ask people.
I read alot of your forum posts, be it watch, cars and renovations etc. I conclude that you ask the dumbest questions. You are really lazy. If you continue to be so stubborn, you will never make more than 3.5k/month (exclude the $10/day after working past 8pm).
haha, yowetan is only trying to gain attention and poke at people like you.
:D :D
Ya, talk is free, reackon he wastes his time taking so much about his property purchase, Y T will forever stay in hdb...... A real investor will not ask too many opinions, he will act wen he has made his own research and analysis..... i dont tink he is a university graduate, most are thinkers rather than talkers!
Yowetan. Following points you had mentioned made me very clear what kind of character you are as a person, worker, husband, son, son in law, brother in law, father, friends (if you have any).
1. You shout price crash imminent but you still want to buy mt senile NOW. Nuts.
2. You collect rental from your old folks for staying with you.
3. Your folks rent out their flats but instead of having that extra income for enjoyment, you want them to pay you rental. Not fillal.
4. You dream of selling flat for $1m at the time of your post. I suspect you haven't done homework (again). How many nuts will buy at $1m hdb. If i am buyer i use $1m to buy EC.
5. At the same time you think can buy mt senile at record low price at the point of your post. Again dreaming.
6. You even think of squeezing 9 people into on 2 bedder mt senile. Are you talking about staying in car park?
6. Today you want to buy big mt senile unit with little money you have. So that you can house all 9 comfortably. To do that you need a 4 bedder. At current price level, it would cost above $2.5m. You are short by more than $1.5m. Ok, assuming i am charitable... gave you $500k, you are still short by $1m. Are you expecting tmr mt senile will drop by $1m? Nuts... again.
7. In Spore only Henry Park is good for your kids? Other schools not good? Where did you get that logic??
8. You expect the flats will be willed to you.
9. You plan to buy condo under your name when you claim the money is a joint investment from your folks who paid you 'rental'. Then how will you give them assurance they get their share of the condo? I am very confident you want eat their share.
10. Say you want plan to give them shares of the condo, then incorporate a company and appoint them as directors. I bet you don't have the plans bcos you want to eat their shares.
11. I despise people like you. Not fillal, don't do homework, always look for easy way out, only know how to whine, give wrong recommendations, always ask dumb questions and WORST OF ALL YOU EVEN SUGGEST DIVORCE !!! Pui !!!
haha, yowetan is only trying to gain attention and poke at people like you.
:D :D
Actually i like this poking bcos he makes me feel good. Hahaha. I don't need henry park or NUS to make good money. I am successful bcos i don't wait for durian to drop. :cheers6:
Not a problem.
Eg my mortgage liability to income is infinity because my income is zero, but that itself will not stop banks from lending to me.
In Hong Kong and Shanghai, the yearly mortgage liabilities is 50x the average salary of a professional which is about US$10,000.
So, I expect them to pay like US$500,000 worth of liabilities .
Your liabilities is S$3,000,000
I do not have data on Singapore. But assuming that I can extrapolate the above concept.
You should have household income of around S$3,000,000 /50 = S$60,000. Are you and your wife earning that kind of salary ?
Not a problem.
Eg my mortgage liability to income is infinity because my income is zero, but that itself will not stop banks from lending to me.
That is because you have real assets like fully paid properties, business, stocks, or gold bars.
Dun talk cork sing song la.
yt i suggest your change your shoes to nike;) about a year ago i changed to nike and i DID IT no LOOKING back
http://3.bp.blogspot.com/-xzbcXIY1WnE/T6DFXy4u8KI/AAAAAAAAKsU/wg88s4OiItc/s1600/nike.jpg
HDB how to tranfer to only one name??
Divorce maybe?
WOW. What a roasting. lololol
Yowetan. Following points you had mentioned made me very clear what kind of character you are as a person, worker, husband, son, son in law, brother in law, father, friends (if you have any).
1. You shout price crash imminent but you still want to buy mt senile NOW. Nuts.
2. You collect rental from your old folks for staying with you.
3. Your folks rent out their flats but instead of having that extra income for enjoyment, you want them to pay you rental. Not fillal.
4. You dream of selling flat for $1m at the time of your post. I suspect you haven't done homework (again). How many nuts will buy at $1m hdb. If i am buyer i use $1m to buy EC.
5. At the same time you think can buy mt senile at record low price at the point of your post. Again dreaming.
6. You even think of squeezing 9 people into on 2 bedder mt senile. Are you talking about staying in car park?
6. Today you want to buy big mt senile unit with little money you have. So that you can house all 9 comfortably. To do that you need a 4 bedder. At current price level, it would cost above $2.5m. You are short by more than $1.5m. Ok, assuming i am charitable... gave you $500k, you are still short by $1m. Are you expecting tmr mt senile will drop by $1m? Nuts... again.
7. In Spore only Henry Park is good for your kids? Other schools not good? Where did you get that logic??
8. You expect the flats will be willed to you.
9. You plan to buy condo under your name when you claim the money is a joint investment from your folks who paid you 'rental'. Then how will you give them assurance they get their share of the condo? I am very confident you want eat their share.
10. Say you want plan to give them shares of the condo, then incorporate a company and appoint them as directors. I bet you don't have the plans bcos you want to eat their shares.
11. I despise people like you. Not fillal, don't do homework, always look for easy way out, only know how to whine, give wrong recommendations, always ask dumb questions and WORST OF ALL YOU EVEN SUGGEST DIVORCE !!! Pui !!!
CondoInterested
25-05-13, 22:19
... and WORST OF ALL YOU EVEN SUGGEST DIVORCE...To be fair to him, it was me (not him) who first put the statement that only Singles above 35 can have HDB (resale only) under 1 name and Married Couples must have 2 names. So the only way to change from 2 names to 1 name is to "d...", like what many PRC people did in their own country and even some here.
To be fair to him, it was me (not him) who first put the statement that only Singles above 35 can have HDB (resale only) under 1 name and Married Couples must have 2 names. So the only way to change from 2 names to 1 name is to "d...", like what many PRC people did in their own country and even some here.
YT reply would be" i am open to all options if i can attain my dream home at mt sinai:D:D:D"
CondoInterested
25-05-13, 23:47
Oh... I missed that... didn't wear my glasses the other day... :D
Chau Ah Tan is here to entertain. Never engage him in the discussion. .he simply brings u down to his level..
YT reply would be" i am open to all options if i can attain my dream home at mt sinai:D:D:D"
Hi...you are absolutely right; we ought to take all suggestions seriously.
Mt Sinai is a place I longed for, and I will try all legal means to achieve this holy grail.
Hi...you are absolutely right; we ought to take all suggestions seriously.
Mt Sinai is a place I longed for, and I will try all legal means to achieve this holy grail.Those are daring examples you are setting for your children (from immediate family to extended family). I wouldn't dare! :rolleyes:
Those are daring examples you are setting for your children (from immediate family to extended family). I wouldn't dare! :rolleyes:
Hi...perspective and angle of judgement varies. There's no absolute deterministic factor. It is relativity.
Hi...perspective and angle of judgement varies. There's no absolute deterministic factor. It is relativity.Yup.. it is apparent that your perspective differs from mine (not to mention so many others). Hope you get your Sinai home! :cheers5:
Btw, your statement, 'there is no absolute deterministic factor' is a statement that is absolute in nature! :cheers5:
Oh...you track it close for me; Yes, I was looking at the palce then.
I realise Hillview has it's limitation; a school is absent, and the accessiblity is questionable.
There is a bus service that shuttles me to office; but I prefer nearer locality i.e. Mt Sinai.
I am 36 year old, do you reckon I am still young?
Given your thoughts, arguments, plans and vision...you are young. Very young.
Hey yowe, there's an article in the Straits Times about a 27 year old engineer. He lives with his family in a Pasir Ris maisonette - 9 members altogether. He already has 2 PC and is aiming for a small landed next. It can be done. Jia you!
Th engineer has timed it well with a profit of $300k from the sale of a condo and just build on it. Property investment starts with a startup fun and it will build up your confidence and gut feel with follow up properties. I believe quite a lot of the investors here has taken this path and never look back.
Hey yowe, there's an article in the Straits Times about a 27 year old engineer. He lives with his family in a Pasir Is maisonette - 9 members altogether. He already has 2 PC and is aiming for a small landed next. It can be done. Jia you!
Hey yowe, there's an article in the Straits Times about a 27 year old engineer. He lives with his family in a Pasir Ris maisonette - 9 members altogether. He already has 2 PC and is aiming for a small landed next. It can be done. Jia you!
Hi chiaberry, many thanks for the encouragement and positive input. I will read up that article to consolidate my thoughts.
Many thanks!
Hey yowe, there's an article in the Straits Times about a 27 year old engineer. He lives with his family in a Pasir Ris maisonette - 9 members altogether. He already has 2 PC and is aiming for a small landed next. It can be done. Jia you!
“Jia you” is always good.
Btw, an undergraduate brought a 3 bed condo during 2010? Did he pay in full cash? Else, how did he obtain a loan? silver/golden spoon?
:rolleyes:
“Jia you” is always good.
Btw, an undergraduate brought a 3 bed condo during 2010? Did he pay in full cash? Else, how did he obtain a loan?
:rolleyes:
Hi...Soh and Ye have pledge 30% downpayment for the Ye's son for Ye's family Eco in bedok. He was featured in the news and interviewed.
It is possible, as my parents and in-laws are supportive of my plan of getting Mt Sinai property. This type of synergies have to be present in order for the purchase to be invoke.
Hi...Soh and Ye have pledge 30% downpayment for the Ye's son for Ye's family Eco in bedok. He was featured in the news and interviewed.
It is possible, as my parents and in-laws are supportive of my plan of getting Mt Sinai property. This type of synergies have to be present in order for the purchase to be invoke.
Glad to know your family are supporting, then treat them nicely....:cheers4:
Hey yowe, there's an article in the Straits Times about a 27 year old engineer. He lives with his family in a Pasir Ris maisonette - 9 members altogether. He already has 2 PC and is aiming for a small landed next. It can be done. Jia you!
One distinct difference is that the engineer hopes to give back to society in his retirement and help others, unlike someone who wishes ill upon others who are better off than him so he can climb over them........YT is an Invested not not investor......he hopes for wealth without working....but upon wishing others ill....
Hi all... I will like to check if the following proposition is workable? Please do correct me if my hypothetical assumption and approach is wrong? (Minus away family, ethical values)
Let's us look at this example in financial protocol:
1) HDB Flat in Tiong Bahru 5 room High Floor, near to MRT selling - 1 mil SGD. (Valuation @ 1mil - assumption)
2) Transfer property to wife's name ONLY and removing my name or vice versa - Lawyer Fees = 5kSGD, and Stamp Duty (500k*3%-5400).
3) Next, ask my wife to loan the remaining half value of 500k (1mil SGD valuation price) I will recieve 500k SGD with a portion going back to my CPF OA.
4) Violia! I am one with zero loan and owner - Eligible for 80% loan with no 7% ABSD.
5) I will then activated this 500k SGD (Cash+OA), together with loan 80% to buy a second property (ideally at 1.8mil @ Mt Sinai). Sole ownership.
6) 80% of 1.8mil SGD = 1.4mil SGD loan @ 30 years
7) 20% downpayment = 360k SGD
8) Stamp duty = 50k SGD (Inclusive of stamp duty 500SGD)
9) Lawyer fees = 5k SGD
10) Total cost = 360k+49k+5k = 415k SGD
11) Balanced (500k -415k) = 85k SGD
12) 85K can be keep or used to repay my wife loan on Tiong Bahru HDB.
13) Current Tiong Bahru outstanding loan = 450K SGD approximately.
14) Potential loan taken by wife = 450k + 500k = 950kSGD.
15) Wife will pay 30 years loan for 950k for Tiong Bahru HDB 5 room.
As above proposition, is it possible technically and if it will create any backlash and liabilities?
Please kindly throw in your thoughts, opinions and views.
Please refrain from flaming if possible.
Thanks.
Wat u ask this again.. i thought i read this many times over n over already?
Hi...is there any alternative(s) to boast my loan capability?
Will the rental disposal income be classified under Debt servicing ratio on top of my 3.5k++ salary?
u consider ah long?
u consider ah long?You very funny... but never heard ah long can lend $500k cash. :cheers1: Can pay over 30 years? What interest are we talking about here man? :scared-2:
Office Boy is Back !
From some property consultancy work over the long weekend.
And here I am looking at the most silly thread this year!
And ppl here actually spent TWO WHOLE DAYS trying to answer what a junior bank officer would have answered in 10 mins !
The simple answer is NO WAY!
I wont explain or try to answer these questions from someone who work in a BANK! Why can just walk over the credit department and present this case to get the NO! answer ?
Why invoke so much drama here ? Dont tell me you are trying to write a new script for MediaCorp's next Drama Series - My Love, Mt Sinai ?
Haha!
DKSG
Yowetan,
You can stop dreaming of Henry Park bcos you ain't gonna be able to afford Mt Senile.
'The introduction of an upcoming residential project at the site of the former Henry Park Apartments is expected to further boost buying and leasing interest in the Holland/Bukit Timah area.Far East Organization bought the mixed-use development in a $175.9 million en bloc deal in December 2011 - the largest collective sale for that year.The 999-year leasehold site is off Holland Road, directly opposite Henry Park Primary School.While no firm details about the upcoming project have been announced, construction is expected to start in the first half of this year.'
I will not tell you how much it will sell. You are an university graduate? Go do your research. :cheers3:
One distinct difference is that the engineer hopes to give back to society in his retirement and help others.
1)Only after retirement? What about now? Engineer did not say any.
2)Somehow the Paper never questions that "borrow/given" capital? No sure did that engineer even thank to the one who has provided him that capital in the paper. ;)
1)Only after retirement? What about now? Engineer did not say any.
2)Somehow the Paper never questions that "borrow/given" capital? No sure did that engineer even thank to the one who has provided him that capital in the paper. ;)
...didn't you read about his investment in stocks with low valuation with his then girlfriend? Prices of property was affordable and LTV was not a problem before 2009....What abt you are you doing much charity work now? I am sure for someone living in a landed you can well afford to.....
You very funny... but never heard ah long can lend $500k cash. :cheers1: Can pay over 30 years? What interest are we talking about here man? :scared-2:
He desperate he can always borrow 50k each from 10 ah long. Then find another 10 to borrow to pay the 1st ah long. Alternative he can take the 500k go show hand. Big small 1 time. 50% chance zero. But also 50% chance hero.
Desprate mah. Give him options to quick quick eithere move to senil mah.
He desperate he can always borrow 50k each from 10 ah long. Then find another 10 to borrow to pay the 1st ah long. Alternative he can take the 500k go show hand. Big small 1 time. 50% chance zero. But also 50% chance hero.
Desprate mah. Give him options to quick quick eithere move to senil mah.Easier to say jump sea and run road... lol.... sure die to borrow from 10 ah long.. quick call x-ah-long for help!!! wait he put you as guarantor... :scared-4: :cheers5:
Easier to say jump sea and run road... lol.... sure die to borrow from 10 ah long.. quick call x-ah-long for help!!! wait he put you as guarantor... :scared-4: :cheers5:
no pay call police on the ah long!. ;)
...didn't you read about his investment in stocks with low valuation with his then girlfriend? Prices of property was affordable and LTV was not a problem before 2009.........
That engineer should be around us in this forum too, let's see which nick is defending him...it is better to hear from him directly.
Hi all...thanks for all the suggestion(s). I appreciate them.
As mentioned in previous postings, I will not concede to illegal means of generating the ammunition for the purchase.
I will do so with legal means and proper way.
I am targeting to get my Mt Sinai by this year or next year Q2.
no pay call police on the ah long!. ;)Best idea!!! :cheers1:
Hi all...thanks for all the suggestion(s). I appreciate them.
As mentioned in previous postings, I will not concede to illegal means of generating the ammunition for the purchase.
I will do so with legal means and proper way.
I am targeting to get my Mt Sinai by this year or next year Q2.
Not many are born wealthy, also not many willing tell everybody that he received family’s financial support to buy a house.
A rare honest fellow, Jia you!:cheers5:
Hi all...thanks for all the suggestion(s). I appreciate them.
As mentioned in previous postings, I will not concede to illegal means of generating the ammunition for the purchase.
I will do so with legal means and proper way.
I am targeting to get my Mt Sinai by this year or next year Q2.
your story can turn into a script.
mr.B suits the role. you play the director.
we fully support you. another sold out.
Hi all...thanks for all the suggestion(s). I appreciate them.
As mentioned in previous postings, I will not concede to illegal means of generating the ammunition for the purchase.
I will do so with legal means and proper way.
I am targeting to get my Mt Sinai by this year or next year Q2.
this is what you said a long time back too.
Had you stopped procrastinating and actually made a purchase back then you would not have been subject to restrictions and would also have made a profit already on paper.
As it is, with your continual questioning, i really cannot see you being able to get this at all. :doh:
he's trying very hard to figure out - how to squeeze 9 beds into 3 rooms.
until that can be solved, nothing else matters :doh: :doh: :doh: :doh:
this is what you said a long time back too.
Had you stopped procrastinating and actually made a purchase back then you would not have been subject to restrictions and would also have made a profit already on paper.
As it is, with your continual questioning, i really cannot see you being able to get this at all. :doh:
Hi...your statement is very true.
he's trying very hard to figure out - how to squeeze 9 beds into 3 rooms.
until that can be solved, nothing else matters :doh: :doh: :doh: :doh:
Hi...this is not a concern.
I have had mentioned before, the chances of 9 people in the house usually falls between 8pm to 8am - 12 hours, which 80% of the hours are in sleep mode.
Hence, the quality of life still maintains for the other 12 hours, 0800 hr to 2000hr. A rotation basis would ensure quality of life is not compromised. Saturday and Sunday would be a day where we could enjoy the condominium facilities like tennis court, swimming pools, halls etc. This will eventually divert 9 people out of the home.
We just have to manage our timing and schedule.
Hi...this is not a concern.
I have had mentioned before, the chances of 9 people in the house usually falls between 8pm to 8am - 12 hours, which 80% of the hours are in sleep mode.
Hence, the quality of life still maintains for the other 12 hours, 0800 hr to 2000hr. A rotation basis would ensure quality of life is not compromised. Saturday and Sunday would be a day where we could enjoy the condominium facilities like tennis court, swimming pools, halls etc. This will eventually divert 9 people out of the home.
We just have to manage our timing and schedule.
but this doesn't solve the physical problem of putting 9 beds in 3 rooms at all - so i guess you will be bathing at the gym toilet, sitting by the pool all day long
but this doesn't solve the physical problem of putting 9 beds in 3 rooms at all - so i guess you will be bathing at the gym toilet, sitting by the pool all day long
Hi...Double deck bed can be implement. and some house adjustment can be easily fine tweak. No perfect solution, but we are all prepared.
Hi...Double deck bed can be implement. and some house adjustment can be easily fine tweak. No perfect solution, but we are all prepared.
before u go off spouting about double deck, read the floor plan. u don't need a double deck, u need a triple deck.
wardrobe and storage space? travelling to amenities? please lah, don't joke about maintaining a quality of life when the basic stuff can't even be solved.
YT I suggest u this.Register a company buy a Mini Van. or buy 2. some of ur family members can sleep in the Mini Van in the car park. make sure u park at a nice windy spot near pool and toilet. then u can free up more space in the house! and car park car is free. 2nd lot maybe have to pay $60 ? a mini van cost? $50-90k? cheap cheap to get a MM space! plus the van can bring all 9 people on lunch and dinner outings! win win! and day time u can take the van go open as mobile snack bar! added revenue.! maybe if ur condo have those sundry stall space u can also go bid! then 2 person can sleep that at night too?
Day time run the stall make $$.. another added $$ idea for u! so with that u can free up lots of space in ur condo. Maybe can even consider rent out 1 room! $$$ again for u!
Idea bo?
shareidiot
27-05-13, 17:09
3 rooms ? SGD1.5M-SGD1.8M @ Mt Sinai only can get 2BR only hor !
2 bedrooms @ 9 pax. :doh: :doh: :doh: :doh: :doh: :doh: :doh: :doh: :doh:
but this doesn't solve the physical problem of putting 9 beds in 3 rooms at all - so i guess you will be bathing at the gym toilet, sitting by the pool all day long
Not many are born wealthy, also not many willing tell everybody that he received family’s financial support to buy a house.
A rare honest fellow, Jia you!:cheers5:
I guess you are either a YT fanboy or YT himself hahahhahahaha.....
I guess you are either a YT fanboy or YT himself hahahhahahaha.....
I like your observation. :D
Hi...this is not a concern.
I have had mentioned before, the chances of 9 people in the house usually falls between 8pm to 8am - 12 hours, which 80% of the hours are in sleep mode.
Hence, the quality of life still maintains for the other 12 hours, 0800 hr to 2000hr. A rotation basis would ensure quality of life is not compromised. Saturday and Sunday would be a day where we could enjoy the condominium facilities like tennis court, swimming pools, halls etc. This will eventually divert 9 people out of the home.
We just have to manage our timing and schedule.
Tell me... your intention is to have 9 beds or just to have 3 beds? I am guessing from your statement on rotation, you meant to have 3 beds only because not any given time will uou have 9 pax in the house. So the bed is a shared facility, that i include boasters and pillows.
Then if it is a double deck bed, how do you fit queen size double bed in a small room?
A true investor or buyer WILL hamtam any properties they think is good. No point asking and asking. Talk is free, must have action. I bought condo when i cannot afford high COV HDB (that's when i was making less than yowetan). After that opportunities came and i flip more furious than prata-man. Now i walk macham got wind.
A person who asked too many questions will never succeed (meant this for yowetan). The only way out is to con your family's money.
CondoInterested
27-05-13, 19:46
Tell me... your intention is to have 9 beds or just to have 3 beds? I am guessing from your statement on rotation, you meant to have 3 beds only because not any given time will uou have 9 pax in the house. So the bed is a shared facility, that i include boasters and pillows.
Then if it is a double deck bed, how do you fit queen size double bed in a small room?
Before I start, I must declare I not ah tan nor his fan. Because I am not AhTanInterested, I am CondoInterested.
There exists double deck bed where downstairs is queen and upstairs is single. 3 in a room settled, 3 rooms 9 settled. :D
like that no privacy for sex, had to go hotel.
1 week twice = $200 a week x 52 weeks a year.
not a small sum.
CondoInterested
27-05-13, 19:48
like that no privacy for sex, had to go hotel.
1 week twice = $200 a week x 52 weeks a year.
not a small sum.
Got Van what :D
What yowetan should do is buy within own comfort zone or change priorities. His concept is totaly wrong. Despite so much lecturing (mostly from me) he still doesn't undsrstand.
like that no privacy for sex, had to go hotel.
1 week twice = $200 a week x 52 weeks a year.
not a small sum.
no lah got bathroom.. got store room.. got balcony! last resort use pool!
no lah got bathroom.. got store room.. got balcony! last resort use pool!
not forgetting 2 body in 1 sarong.
Hi...living under a roof is very normal and easy.
It is not that complicated.
CondoInterested
27-05-13, 22:13
Makeshift living room can be converted into a makeshit (opps makeshift) bedroom vice versa and no need to buy 3 bed rooms, so 2 bed rooms + 1 living / bed room is good enough, save money.
Or tear down all rooms, re-partition them into the "right size", so that you open the door you jump straight into the bed only room, better still make it double deck and you got chance rent out some beds.
Ok, ok don't flame me, ideas is running wild. :D
Makeshift living room can be converted into a makeshit (opps makeshift) bedroom vice versa and no need to buy 3 bed rooms, so 2 bed rooms + 1 living / bed room is good enough, save money.
Or tear down all rooms, re-partition them into the "right size", so that you open the door you jump straight into the bed only room, better still make it double deck and you got chance rent out some beds.
Ok, ok don't flame me, ideas is running wild. :D
Hi...everything is possible; it is the creativity, cooperation and understanding of a family that will make it possible, make it happen.
CondoInterested
27-05-13, 22:21
You can start a consultancy / motivation company to teach topics like,
- "Secrets of squeezing 9 people into 2 bed room house"
- "Secrets of living peacefully with wife, kids, parents, parents in law, sibbling in law, a dog, hamsters, a tank of fishes, etc under 1 roof"
- "Secrets of squeezing 9 people into 2 bed room house with rental yield"
- "Secrets of motivating a Singaporean"
- etc
Wah, sure sell like hot cake, big business, who knows you will be the next AK in the making.
Don't ask me what / who is AK, some very smart ones can easily guest correctly. :D
This forum is full of humorists. Yowetan is also humorous in his own special way ^_^
You can start a consultancy / motivation company to teach topics like,
- "Secrets of squeezing 9 people into 2 bed room house"
- "Secrets of living peacefully with wife, kids, parents, parents in law, sibbling in law, a dog, hamsters, a tank of fishes, etc under 1 roof"
- "Secrets of squeezing 9 people into 2 bed room house with rental yield"
- "Secrets of motivating a Singaporean"
- etc
Wah, sure sell like hot cake, big business, who knows you will be the next AK in the making.
Don't ask me what / who is AK, some very smart ones can easily guest correctly. :D
Hi...this is a very good suggestion.
However, I have a day job in bank now. It is not easy to get leave unless compliance leave which is an annual task.
CondoInterested
27-05-13, 22:30
When you are as big as AK, you start writing and selling books, who cares about the bank work.
You become the customer in the private banking and those colleagues of your now will become your servants.
Oops, sorry, say so much, today forget to take medicine... :D
When you are as big as AK, you start writing and selling books, who cares about the bank work.
You become the customer in the private banking and those colleagues of your now will become your servants.
Oops, sorry, say so much, today forget to take medicine... :D
Hi...I am a honest man.
I can't write a good book.
CondoInterested
27-05-13, 22:39
If you know what / who is AK, it means you are very $$$$$$$ powerful, you can always engaged interns (remember don't slap them, else you will be in the youtube and we will know who you are) to write for you (and remember to pay them well).
If you know what / who is AK, it means you are very $$$$$$$ powerful, you can always engaged interns (remember don't slap them, else you will be in the youtube and we will know who you are) to write for you (and remember to pay them well).
Hi...I am from a humble family background.
The fortunate thing is I have a supportive parents and in-laws who willing to hand over their rental income to me for future planning and expenditure.
This unified action is beyond words could describe, and not many people understand the essence of family unison.
CondoInterested
27-05-13, 22:49
The harmony part, I think many of us here really have to respect you. That is why you must conduct the course "Secrets of living ... under 1 roof".
The harmony part, I think many of us here really have to respect you. That is why you must conduct the course "Secrets of living ... under 1 roof".
Hi...there is no secret.
I am being myself - humble and respectful. It should be good enough.
This forum is full of humorists. Yowetan is also humorous in his own special way ^_^
A good thread for killing time.:D
Before I start, I must declare I not ah tan nor his fan. Because I am not AhTanInterested, I am CondoInterested.
There exists double deck bed where downstairs is queen and upstairs is single. 3 in a room settled, 3 rooms 9 settled. :DIf space is a problem, get those built in bed. Can keep the beds (singles or queen sized even). Fold up like wall during day time and then put down during night time! If still cannot, then spread mattress on the floor can sleep more people lor... kampong style!!! No problem lah. :cheers6:
Last time there was a thread which cries property prices are coming down down down and that generated huge attention among forummers and fun for reading and quarreling. Now there is this nice thread of squeezing 9 in 2/3 small rooms at Mt Sinai... another fun and interesting read and entertainment indeed! :cheers5:
"Secrets of living ... under 1 roof".Moses Lim is Tan Ah Teck, Koh Cheng Mun is Dolly, Nicholas Lee is ... oops just revealed my age...
built in beds won't help solve the space crunch - impossible to squeeze 3 wall-beds in one tiny room.
double decker and one sleeps beneath with no room to turn - talk about quality of life
:doh: :doh: :doh:
shareidiot
29-05-13, 09:19
Hi, 1 room can't accomodate 2 x double deckers with 1 pull out bed from beneath lah. No space to "pull out" the bottom bed. LOL !
2BR @ 9 pax ??? How to sleep comfortably.
YT said the time range when people come together under 1 roof is 8pm - 8am. But he failed to understand that that 8pm - 8am is the quality time @ home (rest comfortably & shalom). Everyone should have S P A C E.
How about 2 kids' study area/books etc (Although his 2 kids are still very young ---- not enrolled @ Henry Park Pri Sch... LOL ... but soon they need a lot of books ! put where? @_@).
Or becoz of his desire to get the SGD 1.5M -1.8M 2BR Mt Senai property, he is EVEN willing to forgo the provision of better educational lifestyle for his own children (since he is prepared to go bankrupt, in order to live up his dream of "owning" a Mt Senai property?) Hmmm....... :doh: :doh: :doh:
built in beds won't help solve the space crunch - impossible to squeeze 3 wall-beds in one tiny room.
double decker and one sleeps beneath with no room to turn - talk about quality of life
:doh: :doh: :doh:
i was only thinking of 1 double-deck per room, with a mattress underneath. fits 3 person but wardrobe confirm no enough
that's why i said he would be hanging out at the clubhouse, bath in his gym bathroom and sleeping by the pool.
3 grown-ups in 1 tiny room - unless one can sleep like xiao long nu on a room........
shareidiot
29-05-13, 09:40
Wah, 1 common room can live 3 pax. Master bedroom 4 pax (assuming 2 kids stay in the room... LOL.... no privacy).
Then the other 2 pax sleep @ living room ? :doh: :doh: :doh:
i was only thinking of 1 double-deck per room, with a mattress underneath. fits 3 person but wardrobe confirm no enough
Wah, 1 common room can live 3 pax. Master bedroom 4 pax (assuming 2 kids stay in the room... LOL.... no privacy).
Then the other 2 pax sleep @ living room ? :doh: :doh: :doh:
ah tan said bathroom..........
Rosegarden
29-05-13, 09:57
Hi...I am from a humble family background.
The fortunate thing is I have a supportive parents and in-laws who willing to hand over their rental income to me for future planning and expenditure.
This unified action is beyond words could describe, and not many people understand the essence of family unison.
You are a very fortunate man. Family harmony and unity is something any amount of money cannot buy.
You are a very fortunate man. Family harmony and unity is something any amount of money cannot buy.Yup.. never heard of parents and parents in law staying together. He certainly did it.. :)
sounds like a script to fool the readers.
shareidiot
29-05-13, 10:21
he TCSS only lah. You go see the malaysia property thread. he also expressed interest there (without doing any homework, as usual). faint.:scared-1:
sounds like a script to fool the readers.
he TCSS only lah. You go see the malaysia property thread. he also expressed interest there (without doing any homework, as usual). faint.:scared-1:
He does the same in other forums. Renotalk, Audi, Seiko etc.
He does the same in other forums. Renotalk, Audi, Seiko etc.
people like yt keep the world going round and round:D best part we all know we being taken for a ride and yet we all still enjoy the ride:D:D:D life is short play hard LAUGH harder:D:D:D
He does the same in other forums. Renotalk, Audi, Seiko etc.
he could be the long missing B?
The good thing is we know how he looks like. So whenever i laugh at his antics, i know who i am laughing at. (Google and you can find his photo). :D :D
shareidiot
29-05-13, 10:40
wah... he joined so many forum to TCSS ah. Hmmm.....
Google his nick cannot see image of his face leh. is it use that banned nick @ hwz ? Saw some images and wonder it is "IT" ?
He does the same in other forums. Renotalk, Audi, Seiko etc.
wah... he joined so many forum to TCSS ah. Hmmm.....
Google his nick cannot see image of his face leh. is it use that banned nick @ hwz ? Saw some images and wonder it is "IT" ?
Hahaha. I read the funny comments about yowetan / yowe55 in HWZ. damn funny.
Google his photo, click image. You will see the self taken photo. Thick sideburn, glasses.
shareidiot
29-05-13, 10:58
That pic i know.... but photo taken @ Jurong leh. He claimed he stay @ tiong bahru .... then both parents & inlaws stay with him (no need go weekend visitation wat).... if weekend go gai gai with family, then photo should be taken by 1 of his family member for him lor (not self take).... LOL :confused:
Hahaha. I read the funny comments about yowetan / yowe55 in HWZ. damn funny.
Google his photo, click image. You will see the self taken photo. Thick sideburn, glasses.
shareidiot
29-05-13, 11:00
LOL ... maybe he went jurong to collect "RENT" from 1 of the 2 fully paid HDB (belonging to his parents or inlaws). Wah ... full of imagination. :rolleyes:
That pic i know.... but photo taken @ Jurong leh. He claimed he stay @ tiong bahru .... then both parents & inlaws stay with him (no need go weekend visitation wat).... if weekend go gai gai with family, then photo should be taken by 1 of his family member for him lor (not self take).... LOL :confused:
Hahaha. That photo very harm-sarp hor.
shareidiot
29-05-13, 11:14
Our body (in this case, face) is the house in which our spirit lives here on earth. God made it. ... I can't say anything lah.
Anyway, this guy is out there TCSS. We also "enjoy" the forum lor... :D
Hahaha. That photo very harm-sarp hor.
Our body (in this case, face) is the house in which our spirit lives here on earth. God made it. ... I can't say anything lah.
Anyway, this guy is out there TCSS. We also "enjoy" the forum lor... :D
Yes, i accept your reminder. I will not judge how he looks. :D
Hi...I feel it is important to respect the privacy of an individual and refrain from passing comment on a person's look.
shareidiot
29-05-13, 12:08
Mygeemeel did say in his message that he accepted my reminder about being judgemental.
Hi...I feel it is important to respect the privacy of an individual and refrain from passing comment on a person's look.
He does the same in other forums. Renotalk, Audi, Seiko etc.Strangest part is he has all the time to tcss on at least 5 different forum platforms??? Isn't he so determined to earn more he should b taking up more odd jobs to get his sinai??? Hmmm... thought he mentioned he is driving taxi to earn that extra $$? So much free time on hand? :confused:
evolutionx
29-05-13, 12:31
i think your combined earning power is not enough to consider around that budget. you should consider lowering your expectations and buying something that you can "tahan" if things go south.
honestly speaking, i think it's terrible of you to throw an additional loan under your wife just for you to fulfill your dreams. it seems everyone is making sacrifices just so you get what you want.
even if you get the place, it seems everything may become strained. you have not factored in renovations, maintenance, incidentals into your calculations. i hope you are not looking to stare at 4 bare walls if you move in to mt sinai.
i think your combined earning power is not enough to consider around that budget. you should consider lowering your expectations and buying something that you can "tahan" if things go south.
honestly speaking, i think it's terrible of you to throw an additional loan under your wife just for you to fulfill your dreams. it seems everyone is making sacrifices just so you get what you want.
even if you get the place, it seems everything may become strained. you have not factored in renovations, maintenance, incidentals into your calculations. i hope you are not looking to stare at 4 bare walls if you move in to mt sinai.Getting bank loans will be the 1st hurdle. 2nd hurdel will be squeezing 9 people into the unit. 3rd hurdle is to ensure quality life for everybody. He appears very confident that he can work around schedules to ensure not all are present in the house at any one time. There will come a time its not nice to ask the aging parents to go out of the house or stay in the room when other activities are happening in the house. They might be too old to keep going out of the house... what if parents just want to nua at home but not their scheduled time yet so cannot??? Hmmm... tough conundrum...
Things and animals can be shifted around to suit the owner but human beings are relational and more difficult to shift around leh!!! They may say I support you but to see them inconveniencing themselves to ensure everything is well would essentially invoke a sense of gratitude and guilt. V intricate a balance to strike! :o
evolutionx
29-05-13, 13:00
Getting bank loans will be the 1st hurdle. 2nd hurdel will be squeezing 9 people into the unit. 3rd hurdle is to ensure quality life for everybody. He appears very confident that he can work around schedules to ensure not all are present in the house at any one time. There will come a time its not nice to ask the aging parents to go out of the house or stay in the room when other activities are happening in the house. They might be too old to keep going out of the house... what if parents just want to nua at home but not their scheduled time yet so cannot??? Hmmm... tough conundrum...
Things and animals can be shifted around to suit the owner but human beings are relational and more difficult to shift around leh!!! They may say I support you but to see them inconveniencing themselves to ensure everything is well would essentially invoke a sense of gratitude and guilt. V intricate a balance to strike! :o
i got a 1000sqft place in RV with my gf (2 bedder - our first place!) and i already find it a little small. dining area is tiny, decent living / master bedroom. second bedroom only suitable for 1 kid (or a double decker bed). we dont even have enough wardrobe space between us ... so good luck to him to figure out how to squeeze 9 people.
my earning power is def more than his, and i got my loan relatively fast since banks are flush with cash. however, the place i bought is around the same quantum as his, so im pretty sure he doesnt qualify since i just settled my loan a few weeks ago and even then, the bank will only use what, 30-50% of his salary as a gauge for eligibility.
(lastly, can neighbors complain if they feel the entire apartment is cramped? not sure. i know a lot of units in lucky plaza have been converted to "condotels" that squeeze maximum people in, but i believe converting living/dining room to a bedroom is illegal ... for safety/fire issues?)
i got a 1000sqft place in RV with my gf (2 bedder - our first place!) and i already find it a little small. dining area is tiny, decent living / master bedroom. second bedroom only suitable for 1 kid (or a double decker bed). we dont even have enough wardrobe space between us ... so good luck to him to figure out how to squeeze 9 people.
my earning power is def more than his, and i got my loan relatively fast since banks are flush with cash. however, the place i bought is around the same quantum as his, so im pretty sure he doesnt qualify since i just settled my loan a few weeks ago and even then, the bank will only use what, 30-50% of his salary as a gauge for eligibility.
(lastly, can neighbors complain if they feel the entire apartment is cramped? not sure. i know a lot of units in lucky plaza have been converted to "condotels" that squeeze maximum people in, but i believe converting living/dining room to a bedroom is illegal ... for safety/fire issues?)Agreed! We can say all we want but ultimately its still his call. :scared-3:
http://www.condosingapore.com/forums/showthread.php?t=13972
The more I read about Yowetan, the less I believe he is real. A bank officer wouldn't have so much time to chat in so many forums day and night. He must be a free-lance dramatist, writing a new drama about Singaporeans' experiences in property market and pooling ideas from all of us. One day when his drama is put on stage, everyone here will be interested to watch, as we are all contributors. Yowetan will put a statement in acknowledgement of all our contributions. That will be the happy ending.
shareidiot
29-05-13, 13:58
NVM lah. TCSS here....... :cool:
The more I read about Yowetan, the less I believe he is real. A bank officer wouldn't have so much time to chat in so many forums day and night. He must be a free-lance dramatist, writing a new drama about Singaporeans' experiences in property market and pooling ideas from all of us. One day when his drama is put on stage, everyone here will be interested to watch, as we are all contributors. Yowetan will put a statement in acknowledgement of all our contributions. That will be the happy ending.
The more I read about Yowetan, the less I believe he is real. A bank officer wouldn't have so much time to chat in so many forums day and night. He must be a free-lance dramatist, writing a new drama about Singaporeans' experiences in property market and pooling ideas from all of us. One day when his drama is put on stage, everyone here will be interested to watch, as we are all contributors. Yowetan will put a statement in acknowledgement of all our contributions. That will be the happy ending.
True....a bank officer should not be so naive.. :rolleyes: !
True....a bank officer should not be so naive.. :rolleyes: !
Hi...I am not naive; I am being innovative and thinking out of a box.
It is possible to house 3 generation(s) under one roof.
shareidiot
29-05-13, 15:39
I was drinking plain water while reading this message. Make me laugh & kena choke from your said ..... :scared-4:
Innovative ? 不知天高地厚的小子啊。。。 你断奶了没有？ :eek:
Hi...I am not naive; I am being innovative and thinking out of a box.
It is possible to house 3 generation(s) under one roof.
evolutionx
29-05-13, 15:44
True....a bank officer should not be so naive.. :rolleyes: !
while i dont normally condone trolling, in this case its obvious he has too much free time.
maybe when he says he is bank officer, he left out one word when it should be:
bank (security) officer? maybe thats why no knowledge of basic procedures in getting a loan??
[QUOTE=yowetan]Hi...I am not naive; I am being innovative and thinking out of a box.
Cohesiveness is good. But for that "3 generation(s) under one roof", the house should be reasonably big enough.
Else, consider a big/huge HDB unit....a better/bigger living space for all.
shareidiot
29-05-13, 16:39
YT, in another thread, yesterday, u expressed interest in La Fiesta &/or Stratum for "speculation" :eek:
Why not u also start another thread to discuss about financing... the longer u drag, the higher the spread may be (which increases u costs of leveraging).... :2cents:
The more I read about Yowetan, the less I believe he is real. A bank officer wouldn't have so much time to chat in so many forums day and night. He must be a free-lance dramatist, writing a new drama about Singaporeans' experiences in property market and pooling ideas from all of us. One day when his drama is put on stage, everyone here will be interested to watch, as we are all contributors. Yowetan will put a statement in acknowledgement of all our contributions. That will be the happy ending.
I think it will make a very successful local play. So many issues that tug at our hearts - rising home prices, getting children into renowned Pri schools, multi-generational living, homes getting smaller, harder and harder to get loans etc...
Those reasons are also behind why we are not following up on other threads pertaining to real properties, but rather, fighting our inner demons by subscribing to this dramatic story of YT.
panda_bear
29-05-13, 21:59
I think it will make a very successful local play. So many issues that tug at our hearts - rising home prices, getting children into renowned Pri schools, multi-generational living, homes getting smaller, harder and harder to get loans etc...
Those reasons are also behind why we are not following up on other threads pertaining to real properties, but rather, fighting our inner demons by subscribing to this dramatic story of YT.
I must state first, that I am very busy one....
So if want to cast me, I can only accommodate my schedule for roles with very little dialogue......
If interested, please pm me for my handphone (and email, and facebook account....in case you can't get hold of me)
:old-chinese-guy:
Never argue with an idiot. They will only bring you down to their level and beat you with experience.
Hi...I am from a humble family background.
The fortunate thing is I have a supportive parents and in-laws who willing to hand over their rental income to me for future planning and expenditure.
This unified action is beyond words could describe, and not many people understand the essence of family unison.
no wonder many here are jealous of your ability to have a healthy family relationship , a loving wife a banking job that pays well with lots of time on your hands to dabble with property and a furtile imagination with aurdatious goals in life.
living the good life and young and sucessful. A bit like turning on the tap and drinking water instead of digging the ground to find water.
while the rest of us are fending for ourself and tolling night and day working ling hours with spouse that don't understand us which result in a pent up frastration and using that to avoid the reality to stay at the office to work long hours to get perception of been hard at work but hardly working.kudos to you
no wonder many here are jealous of your ability to have a healthy family relationship , a loving wife a banking job that pays well with lots of time on your hands to dabble with property and a furtile imagination with aurdatious goals in life.
living the good life and young and sucessful. A bit like turning on the tap and drinking water instead of digging the ground to find water.
while the rest of us are fending for ourself and tolling night and day working ling hours with spouse that don't understand us which result in a pent up frastration and using that to avoid the reality to stay at the office to work long hours to get perception of been hard at work but hardly working.kudos to you
Hi...my wife and myself work in the same office.
Hi...my wife and myself work in the same office.
you must have throw all your work to your wife so you have a lot of free time chatting here. :doh:
Condomania
30-05-13, 22:07
you must have throw all your work to your wife so you have a lot of free time chatting here. :doh:
u mean u believe what YT has been saying so far? :scared-2: :banghead: :banghead: :banghead: :doh: :doh: :doh:
:sleep:
Where is Yowetan?
TIA
He should be still around....maybe by other nick
Condomania
30-05-13, 23:36
I think Yowetan could be just fooling us around by insisting on getting Mt Sinai and talking abt having 9 pple in a house. He knows as long as he insists, we'll continue to "advise" him and try to talk him out.
What a waste of time on him.
Crap!
:doh: :hell-hath-no-fury: :hell-hath-no-fury: :doh:
:sleep:
Where is Yowetan?
TIA
He should be still around....maybe by other nick
u mean u believe what YT has been saying so far? :scared-2: :banghead: :banghead: :banghead: :doh: :doh: :doh:
I am just playing along with that crown.
I am just playing along with that crown.
Or do you mean you're playing in his thread? :D
I am just playing along with that crown.
sorry, typo error... should be clown.
CondoInterested
04-06-13, 22:12
I find this strategy (https://www.propertykaiser.com.sg/article/how-does-a-hdb-owner-upgrade-and-own-2-private-properties-wi#.Ua306h_4JBE) will work very well.
I find this strategy (https://www.propertykaiser.com.sg/article/how-does-a-hdb-owner-upgrade-and-own-2-private-properties-wi#.Ua306h_4JBE) will work very well.He's probably considered this option but based on single income, he may not secure 80% loan for a private property unless maybe a studio @ Sinai?
Seeking advice from all seniors here..
For a married couple who owns a non-subsidized hdb, it is possible for the husband to transfer his ownership to his wife, so that he can proceed to buy a private himself without paying absd?
I always thought this cant be done unless the couple is divorced, but based on HDB website on subsidized flat, it seems possible?
http://www.hdb.gov.sg/fi10/fi10326p.nsf/w/ChgOwnerEligibilityCriteria?OpenDocument#EligibilityToTakeOverFlat
Hi...I have already done that.
Now, I am scouting the Mt Sinai.
princess_morbucks
15-07-13, 22:12
Hi...I have already done that.
Now, I am scouting the Mt Sinai.
You mean it is possible?
Then what about the loan?
All transfer to your wife's name as well?
You mean it is possible?
Then what about the loan?
All transfer to your wife's name as well?
Yes. It's done.
Now, I am searching around for a unit in Mt Sinai.
princess_morbucks
16-07-13, 08:51
Yes. It's done.
Now, I am searching around for a unit in Mt Sinai.
Good luck to you, bro!
Don't hesitate when you come across a good deal.
You have been trying to buy one since 2011.
As you said you decoupled your HDB (I didn't know you could do that) and it is , i presume now under your wife's name, you do not own a property and is free from ABSD.
Better get one soon before this supposed loophole is closed again.
Your previous post in 2011 : :)
http://www.condosingapore.com/forums/showthread.php?t=12157
Hi all,
My household income is around 7kSGD and I am hoping to get a unit in Mt Sinai area. Is there any good and affordable unit in that area?
I still have to service 500kSGD loan from my current condo.
My cash is not much, around 50kSGD.
Should I take the risk to go for one unit in Mt Sinai area?
TIA.
Oh so what yowetan has decoupled was his condo (as per his 2011 post).
My question posted was on non-subsidised HDB flat. Is it possible to decouple?
TDSR will close the door on this idea.
Good luck to you, bro!
Don't hesitate when you come across a good deal.
You have been trying to buy one since 2011.
As you said you decoupled your HDB (I didn't know you could do that) and it is , i presume now under your wife's name, you do not own a property and is free from ABSD.
Better get one soon before this supposed loophole is closed again.
Your previous post in 2011 : :)
http://www.condosingapore.com/forums/showthread.php?t=12157
Previous post says already got one condo ?
But with the current TSDR, it will be tough to own a Mt Sinai.
With Jurong now at $1,7xx psf, I think not many in Mt Sinai wants to sell less than $2,xxx psf!
Why should they ? Right ?
DKSG
Previous post says already got one condo ?
But with the current TSDR, it will be tough to own a Mt Sinai.
With Jurong now at $1,7xx psf, I think not many in Mt Sinai wants to sell less than $2,xxx psf!
Why should they ? Right ?
DKSG
I will let you guys have a golden opportunity to whistleblow, like the house of Soh and Ye - famous in whistleblowing.
For some local banks, they are still running 2.8% DSR with the help of law firm to circumvent TSDR.
Period.
Regulators
17-07-13, 08:46
Since u hv so many ppl to house n u want a reasonable comfortable home, I will sell all hdb flats n buy a two storey landed in Thomson garden estate for $1.9 million n buy an overseas pty later on after saving more to get rental income.
Hi all... I will like to check if the following proposition is workable? Please do correct me if my hypothetical assumption and approach is wrong? (Minus away family, ethical values)
Let's us look at this example in financial protocol:
1) HDB Flat in Tiong Bahru 5 room High Floor, near to MRT selling - 1 mil SGD. (Valuation @ 1mil - assumption)
2) Transfer property to wife's name ONLY and removing my name or vice versa - Lawyer Fees = 5kSGD, and Stamp Duty (500k*3%-5400).
3) Next, ask my wife to loan the remaining half value of 500k (1mil SGD valuation price) I will recieve 500k SGD with a portion going back to my CPF OA.
4) Violia! I am one with zero loan and owner - Eligible for 80% loan with no 7% ABSD.
5) I will then activated this 500k SGD (Cash+OA), together with loan 80% to buy a second property (ideally at 1.8mil @ Mt Sinai). Sole ownership.
6) 80% of 1.8mil SGD = 1.4mil SGD loan @ 30 years
7) 20% downpayment = 360k SGD
8) Stamp duty = 50k SGD (Inclusive of stamp duty 500SGD)
9) Lawyer fees = 5k SGD
10) Total cost = 360k+49k+5k = 415k SGD
11) Balanced (500k -415k) = 85k SGD
12) 85K can be keep or used to repay my wife loan on Tiong Bahru HDB.
13) Current Tiong Bahru outstanding loan = 450K SGD approximately.
14) Potential loan taken by wife = 450k + 500k = 950kSGD.
15) Wife will pay 30 years loan for 950k for Tiong Bahru HDB 5 room.
As above proposition, is it possible technically and if it will create any backlash and liabilities?
Please kindly throw in your thoughts, opinions and views.
Please refrain from flaming if possible.
Thanks.
Regulators
17-07-13, 08:59
@yowtan - something like this:
http://www.propertyguru.com.sg/listing/14936445/for-sale-thomson-garden-estate
Since u hv so many ppl to house n u want a reasonable comfortable home, I will sell all hdb flats n buy a two storey landed in Thomson garden estate for $1.9 million n buy an overseas pty later on after saving more to get rental income.
Since u hv so many ppl to house n u want a reasonable comfortable home, I will sell all hdb flats n buy a two storey landed in Thomson garden estate for $1.9 million n buy an overseas pty later on after saving more to get rental income.
you sure your wife can take a $950k loan with the new TDSR ruling??
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