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Thread: Mt Sinai Landed - A viable plan?

  1. #1
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    Default Mt Sinai Landed - A viable plan?

    Hi All, I am setting my new milestone/resolution for the Year 2014.

    With the TSDR, MSR, ABSD and other cooling measures in force - I am thinking to go all out for the grand finale of my lifetime in this property cycle.

    I am considering to let go Mt Sinai 2 bedder, along with 3 HDBs and will combine all proceeds to get the Mt Sinai landed property.

    The below is the estimation for discussion and recommendation from fellow forummers.

    1. Mt Sinai 2 bedders - Bought 1.7++ million, target to sell off 2.1-2.2 mil SGD. With the penalty incur, I am hoping to receive 200-300kSGD profit.
    2. 5 room HDB flat Tiong Bahru (high floor) - Aimiing to sell off 1mil SGD. Pay off 400k loan, and hopefully receiving 600K profit.
    3. 5 room HDB flat Queensway (high floor, fully paid) - Aiming to sell off 1 to 1.1 mil SGD.
    4. 5 room HDB flat Jurong East (mid floor, fully paid near JE MRT, JEM etc) - Aiming to sell off 1 to 1.1mil SGD.

    With that, we are looking at possibly 2.5milSGD to 3milSGD.

    Also, my wife and myself, have had just received my bonus from our workplace bank it is around 20k combined.

    Is it okay for us to go all out to secure a Mt Sinai landed property? I love to stay near Dr. Tan Cheng Bock and have my children nurture in the neighborhood, in Henry Park Primary. Thanks in advance.

  2. #2
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    Back with a vengeance. Well done.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  3. #3
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    YT, you are always so humorous.

    Actually, you are not the most ambitious one about HDB. I once told an agent, who advised me to sell my HDB to avoid ABSD, that I did not mind letting my HDB go at 1.3M.

    haha.... If your Jurong East HDB can be sold at 1.1M, my HDB will worth 1.3M, but I am not sure how much the Mount Sinai landed is worth then.

  4. #4
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    He purposely write jokes for us during this Xmas period

  5. #5
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    Sounds viable. Go for it Yowetan!!

  6. #6
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    Quote Originally Posted by yowetan View Post
    Hi All, I am setting my new milestone/resolution for the Year 2014.

    With the TSDR, MSR, ABSD and other cooling measures in force - I am thinking to go all out for the grand finale of my lifetime in this property cycle.

    I am considering to let go Mt Sinai 2 bedder, along with 3 HDBs and will combine all proceeds to get the Mt Sinai landed property.

    The below is the estimation for discussion and recommendation from fellow forummers.

    1. Mt Sinai 2 bedders - Bought 1.7++ million, target to sell off 2.1-2.2 mil SGD. With the penalty incur, I am hoping to receive 200-300kSGD profit.
    2. 5 room HDB flat Tiong Bahru (high floor) - Aimiing to sell off 1mil SGD. Pay off 400k loan, and hopefully receiving 600K profit.
    3. 5 room HDB flat Queensway (high floor, fully paid) - Aiming to sell off 1 to 1.1 mil SGD.
    4. 5 room HDB flat Jurong East (mid floor, fully paid near JE MRT, JEM etc) - Aiming to sell off 1 to 1.1mil SGD.

    With that, we are looking at possibly 2.5milSGD to 3milSGD.

    Also, my wife and myself, have had just received my bonus from our workplace bank it is around 20k combined.

    Is it okay for us to go all out to secure a Mt Sinai landed property? I love to stay near Dr. Tan Cheng Bock and have my children nurture in the neighborhood, in Henry Park Primary. Thanks in advance.

    For those who believe to me this is another joke to start 2014.

    You so sure that HDBs would fetch near $$ millions when COV are crashing and valuation game is turning south.

    Also there will be complications on "monetisation" with so many individuals
    involved.

    Don't be too happy yet. CPF money is not your money after 65 and even after 80.

    I believe all HDBs are bought with in-laws CPF monies and so it need paid back with interests to the individual CPF accounts, With minimum sum and CPF Life you will be shocked how much individual can "cash' out.

  7. #7
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    Quote Originally Posted by qianfugui View Post
    For those who believe to me this is another joke to start 2014.

    You so sure that HDBs would fetch near $$ millions when COV are crashing and valuation game is turning south.

    Also there will be complications on "monetisation" with so many individuals
    involved.

    Don't be too happy yet. CPF money is not your money after 65 and even after 80.

    I believe all HDBs are bought with in-laws CPF monies and so it need paid back with interests to the individual CPF accounts, With minimum sum and CPF Life you will be shocked how much individual can "cash' out.
    Hi...thanks for pointing out the CPF minimum sum requirement. I almost forgotten this part!

    Yes, it seems this policy will set me approximately 300-400k poorer.

    Having said that, we are very serious and considering to get one landed property in Mt Sinai.

  8. #8
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    Quote Originally Posted by lionhill View Post
    YT, you are always so humorous.

    Actually, you are not the most ambitious one about HDB. I once told an agent, who advised me to sell my HDB to avoid ABSD, that I did not mind letting my HDB go at 1.3M.

    haha.... If your Jurong East HDB can be sold at 1.1M, my HDB will worth 1.3M, but I am not sure how much the Mount Sinai landed is worth then.
    Hi lionhill...My in-law JE HDB is a big 5 room HDB flat, and is facing the Westgate. Hence, we are very confident we are able to achieve good price as the recent Jurong gateway proves a to be a success sell-out.

  9. #9
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    Quote Originally Posted by yowetan View Post
    Hi lionhill...My in-law JE HDB is a big 5 room HDB flat, and is facing the Westgate. Hence, we are very confident we are able to achieve good price as the recent Jurong gateway proves a to be a success sell-out.
    how much is a mount sinai landed?

  10. #10
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    1. Mt Sinai 2 bedders - Bought 1.7++ million, target to sell off 2.1-2.2 mil SGD. With the penalty incur, I am hoping to receive 200-300kSGD profit.
    2. 5 room HDB flat Tiong Bahru (high floor) - Aimiing to sell off 1mil SGD. Pay off 400k loan, and hopefully receiving 600K profit.
    3. 5 room HDB flat Queensway (high floor, fully paid) - Aiming to sell off 1 to 1.1 mil SGD.
    4. 5 room HDB flat Jurong East (mid floor, fully paid near JE MRT, JEM etc) - Aiming to sell off 1 to 1.1mil SGD.
    Until you find a buyer that is willing to pay those ridicules selling price which you are "hoping", all these talk about living in landed property are just fantasy.

    So lets not waste time.
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

  11. #11
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    Lol, an old mt Sinai terrace will cost min 4-5m.
    Even if u managed to secure 3m, u still cannot afford it as ur income of 8k cannot get u pass TSDR.

    To secure a 1.5m loan, u need monthly salary of around 20k.
    Of course, it depends on other factors such as age, any other commitment etc.

  12. #12
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    Folks, dont be so mean lah. I think yowetan can do it. One must have a dream.

  13. #13
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    Quote Originally Posted by leesg123 View Post
    Folks, dont be so mean lah. I think yowetan can do it. One must have a dream.
    these are all just fantasy talks at best because the sum just doesnt add up

    At this rate, I think in 5 years time, he will be thinking of buying over Istana.
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

  14. #14
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    Quote Originally Posted by Ringo33 View Post
    these are all just fantasy talks at best because the sum just doesnt add up

    At this rate, I think in 5 years time, he will be thinking of buying over Istana.
    YT is at it again! His bluffing-thru-the -nostrils replies are so oblivious and that's what make him a AAA stand-up comedian. Enjoy it guys! YT keep it coming please!

  15. #15
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    Quote Originally Posted by Molotov View Post
    YT is at it again! His bluffing-thru-the -nostrils replies are so oblivious and that's what make him a AAA stand-up comedian. Enjoy it guys! YT keep it coming please!
    He talks like he is the vortex at center of universe, whoever that is related to him has to sell away their properties and hand over the money to him to buy bigger property.

    honestly, who in this world is so stupid to do that?
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

  16. #16
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    True la, one must have dream..

    Be it real or for joke, just do ur best.

    Please continue the thread YT

  17. #17
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    Quote Originally Posted by Ringo33 View Post
    these are all just fantasy talks at best because the sum just doesnt add up

    At this rate, I think in 5 years time, he will be thinking of buying over Istana.
    Probably he will be seeking our advices building a chateau here next year.
    A bottle of Lafite '82 for all my coffeeshop friends yesterday...many don't know what is it....haha...

  18. #18
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    Talking

    Guys, I think yowetan can do it........ because he is ficticious and his story is what we call science-fiction.

    Yowetan is Luke SkyTalker, starring in SG Wars, 'A New Hope'!

    Blockbuster hit with many views!

  19. #19
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    Ya, if you managed to sell any one of your hdb at 990k, let's us know.....

  20. #20
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    Quote Originally Posted by CCR View Post
    Ya, if you managed to sell any one of your hdb at 990k, let's us know.....
    before that, he must first convince all his "inlaws" to sell the property and give him the money to buy property..
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

  21. #21
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    With msr, who can afford 1m hdb?

  22. #22
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    Quote Originally Posted by yowetan View Post
    Hi All, I am setting my new milestone/resolution for the Year 2014.

    With the TSDR, MSR, ABSD and other cooling measures in force - I am thinking to go all out for the grand finale of my lifetime in this property cycle.

    I am considering to let go Mt Sinai 2 bedder, along with 3 HDBs and will combine all proceeds to get the Mt Sinai landed property.

    The below is the estimation for discussion and recommendation from fellow forummers.

    1. Mt Sinai 2 bedders - Bought 1.7++ million, target to sell off 2.1-2.2 mil SGD. With the penalty incur, I am hoping to receive 200-300kSGD profit.
    2. 5 room HDB flat Tiong Bahru (high floor) - Aimiing to sell off 1mil SGD. Pay off 400k loan, and hopefully receiving 600K profit.
    3. 5 room HDB flat Queensway (high floor, fully paid) - Aiming to sell off 1 to 1.1 mil SGD.
    4. 5 room HDB flat Jurong East (mid floor, fully paid near JE MRT, JEM etc) - Aiming to sell off 1 to 1.1mil SGD.

    With that, we are looking at possibly 2.5milSGD to 3milSGD.

    Also, my wife and myself, have had just received my bonus from our workplace bank it is around 20k combined.

    Is it okay for us to go all out to secure a Mt Sinai landed property? I love to stay near Dr. Tan Cheng Bock and have my children nurture in the neighborhood, in Henry Park Primary. Thanks in advance.
    didn't know back office can get so much bonus. All my friends in banks in middle office n front office doing support role get 1 month bonus only. Their pay only increase by $50. Lol

  23. #23
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    We have to grateful towards YT for entertaining us here. Its getting too boring.

  24. #24
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    To buy a Hdb at 1mio,

    20% down, 800k loan.

    Calculation of 25yrs loan and not exceed 30% monthly income.

    One or both must min 12k.

    Buyers might as well apply for EC, better chance of appreciate.
    Not forgetting the Hdb cov is crashing. What they paying for the cov or valuation will go sour in no time.

  25. #25
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    Income should be 13.3k to pass msr

  26. #26
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    Jia You Yowetan. Good to have dreams and aspirations.

  27. #27
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    Quote Originally Posted by Cupcakes View Post
    didn't know back office can get so much bonus. All my friends in banks in middle office n front office doing support role get 1 month bonus only. Their pay only increase by $50. Lol
    Ya true, end of year is 1 month bonus, their fat bonus is only in march, he is definitely smoking us!

  28. #28
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    I found it a bit ridiculous, sell away all the houses which not all belong to him just to aim for his dream. It will put all those involve in an inconvenience situation. Especially the old folks, they have to follow him here and there. I should say this is a selfish act, sorry huh.

    If he is using his our own money, there's nothing to say but he is using his old folks money to fulfil his dream. If he bought his dream landed ppty, that means it will registered under his name, that means he is transferring all the titles deeds from his parents/in laws to his using a different method.

  29. #29
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    YT year end liao u are entertaining us again?
    “Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
    ― Martin Luther King, Jr.

    OUT WITH THE SHIT TRASH

    https://www.facebook.com/shutdowntrs

  30. #30
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    cool story bro

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