Is it feasible to buy a HDB resale to rent out?

My partner and I have 2 failed bto attempts. We are 24/25, with combined OA of about 70k. We are exploring to buy a resale (with grant) and rent out 2 rooms and keep 1, as we are not allowed to rent out the entire house before MOP. We will live in either parents' house for the time being. We intend to rent it out for approximately 5 years to obtain more cash for the down payment of a second property. Would it be feasible? Esp with the upcoming recession, I foresee property $ dropping. Thank u

Firstly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-pers...

Instead of focussing on the immediate cash outlay, conduct an in-depth analysis on your cashflow and financial planning for the future. Look beyond the downpayment and understand the long-term commitment associated with your choice. For instance, it is unlikely that your biggest asset/liability will be your home. What happens when both your partner and you start a family?

Moreoever, there is no limit on the number of attempts to apply for a BTO. If your intention is to rent out the place, then the more you should consider a subsidised apartment. Through this process, it allows more growth opportunity while you collect rental income.

That being said, rental income is non-guaranteed and comes at its own cost, e.g. maintenance, finding good tenants. With this in mind, it is even more important to do proper planning before deciding if this is a viable option.

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