Originally Posted by
Unregistered
I am a heartlander. I am also a big-time speculator. 50k is all I have 3 months ago - mostly from credit cards withdrawals and line of credits overdrafts. I went to a showflat, got one, paid the 5%. Before 2 weeks was up for the next payment, I sold it. Like that, I earn 50K. Easy money in 2 weeks. Now, I go from launches to launches. Some agents recognise me, treat me very well, and call me the lucky man. Five such moves and now I got about 400k to 450k already. It's a great dream. It's great to be speculator at this time. I love it. In 3 months, I am a halfway to becoming a millionaire. Just 3 months ago, I was struggling to borrow 50K.
I am already 49 years old. 10 years ago, I lost heavily in property. I work so hard, never gamble, no drinking, not speculating. Just want to get a decent place for my family to stay. Market was at its peak. I very unlucky then. Bought a property, market crashed the following months. Haven't even completed the sale, and the market already showed signs of falling. In the end, my property was in negative equity. I heartbroken. Worked so hard day to day, and this has to happen to me. I don't know who to blame. Myself. Govt. Market. or ... I cried and cried. No money to cover the negative equity. Bank chased me. I borrowed here and there. All my hard-earned money I every month emptied into the worth-less property. Still must pay high maintenance.
Then 3 months ago, I saw the opportunity. I could continue to live like a bankrupt or make a pile. So what if I bankrupt? Already had lost so much in one honest property buy 10 years ago. Bankrupt mah bankrupt lor. But if I win, I can earn big bucks. So I became a Speculator. The way i described above. Now, I semi-millionaire. Five zeros behind my bank account. 10 years is a long time. This opportunity doesn't come often. In my experience, once in 10 years. You saw the curve on the URA's latest price increase? Go see, once in 10 years. Now, I retire. No more speculator. I put my money in fixed deposits etc. For my 3 children's education. Next week, going to Europe with my family for our first holiday in 10 years.
Thank you, I don't know who. Myself. Govt. Market. or ... I laugh and laugh and laugh. Sorry. My English not very good.