I recently seen the I Quadrant's advertisement on Facebook where they advertised to help Singaporeans own 34 properties in 2 years with little or no money. Is it MAS approved? What are the risks? - Seedly
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Anonymous

Asked on 27 Jan 2019

I recently seen the I Quadrant's advertisement on Facebook where they advertised to help Singaporeans own 34 properties in 2 years with little or no money. Is it MAS approved? What are the risks?

Seen their Facebook page (https://www.facebook.com/pg/iquadrantgroup/), am interested. But seems to be a scam. Just want to check it out.

Shawn Lee

2 comments

28 answers

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Answers (28)

Hmm.... Honestly I am very intrigue by their so call 0 downpayment and owning all the 34 properties without any cash down payment.

I have been in the Banking industry long enough to know where they are going on with the scheme of theirs.

Lets take things into prespective:

Legally, if you are to own another property (investment) you will be subjected to ABSD of 12%, Legal Fee, and what have you, of about 15% in total... That's to the Government. Now after securing your so call investment property, you have mortgage to take note, Maintence fee, rental, Property Tax, insurance etc....

I have seen people doing de-coupling of properties so as to escape the ABSD, then what about the legal fee and the rest.... (In the end, its the lawyer, the bank and the Agent most of all the earns the most) not you. Think about it, when you have no financial means to pay the mortgages who is being sued?

Bank takes back the property (no lost)

Lawyer wash their hands off, because they are only doing the conveyance (money already collected)

Agents earned their comm and now long gone (again money collected)

You? Charged for bankrupcy because you should have known better about your finances.

The funny thing about all these that I have mentioned there are still people in Singapore wanting to buy up property for retirement, for captial gain. When these ads comes up in FB or any social media many rushes in to see and roped into it.

A 1million property (which is very rare now) would cost you to lose 15% to the Government. Thats a Whooping 150k. How then can you make back this 15% initial Loss in a matter of 2 years, 3 years or even 5 years....

Foreigner you say? Foreginers will make up for that 15% lost you made. Statistically, you will know you are just trying to comfort yourself. Government has already limited the number of Foreigners into Singapore, and looking that the tax that they are paying i doubt so.

What they are trying to make up is a Private investment scheme to properties under many co-owners pulling funds and resources together and since you have a miserable 5% share of the subject property you are considered as OWNED A PROPERTY.

I don't know about you but i will Definetly GIVE this A BIG MISS. When Sh**s hits the Fence, you know those gurus that say they are just teaching Singaporean how to own 34 properties for free(trust me they get kick backs from lawyers, agents, developers there is no such thing as free) are already long gone and there isn't a think you could do to them because they are not regulated.

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Evelyn Ow

16 Oct 2020

Additionally, it’s $3000 for their 3 days master class

Matthew Mahendra

Matthew Mahendra

17 Oct 2020

Perhaps it is Crowd Funding methodology. And they don't buy residential properties but industrial or commercial properties which does not impose any ABSD.

Thank You!
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Its definitely not MAS approved, not saying that is a scam, but MAS does not need to approve every single business.

I would not say its a scam, but its definitely a lot less possible that what they made it up to be. Generally their proposal is closer to an informal REITS among the participants. So why not buy REITS instead of forming your own "reits" with other participants?

Because that can NOT be packaged and sold in a $2997 course. =)

Its more emotionally and prideful for participants to say "I own 34 properties" than to tell people, i have money in a few big REITS thats enough for me to retire with real passive income, no effort, tax-free income, no worries on big economic downturn or bank loan squeeze, and hassle-free investment thatI started in my youth with a couple of hundreds.

Sidenote: I know of at least 2 experienced investors who went bankrupt during 1997. They too were living the dreams back then, leveraging on bank loans and buying condos, industrial properties. Good money.

Once the economy started south, bank will squeeze the rates higher, or ask for top ups to maintain the loan ratio, then you can't sell or rent out because everyone are desperate and then boom!

If you really like properties returns (I will say stock or ETF returns are better than properties) then go for a few REITS. You will be thankful when crisis hits.

if you can't remember 1997 because you are too young, then thats what the course sellers want.

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Kenzo Ng

Kenzo Ng

21 Aug 2020

What tricks do they have that demand such high seminar fee. Hope all those attended can share.

Terence Ho

25 Aug 2020

They were on the MAS alert list, then now they position themselves as education gurus and so is not financial scam. So if it's non-financial, MAS cannot monitor them anymore. It doesn't mean they are not lying to you. 1) Last time they encourage people to buy industrial properties, saying sure will earn money if you follow their tips. Now??? Look at how many people lose money in industrial property. 2) They delete negative comments on their Facebook page so the people who lose money cannot complain. And bought reviews of people who claimed to have earned money. 3) If anything sure can earn money with little downpayment, don't you think these gurus would have strike it rich now??? Will they still tell you? Do they even look very rich to you? No, right! I have seen a lot of rich people, and these "gurus" just look "wannabe rich". They just dress up and talk confidently lah. They themselves perhaps got richer by making you pay for the seminar fees and other hidden costs. They didnt get rich by investing in property, ok! Scam people's hard-earned money, phui!! Hope your kids fail their PSLE!

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I Quadrant

I Quadrant

Level 3. Wonderkid

Updated on 08 Nov 2020

Hi there!

I Quadrant is not on the MAS Alert List.

The I Quadrant Pte Ltd does not condone and...

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