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Property

A roof above your head or more?

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R
RM
Level 6. Master
Answered 4m ago
The easier way is to just buy over a coffee shop.

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99.co Event

Will anyone be splitting the mortgage with you? 3k a month is a bit of a stretch when it comes to mortgage payment. A simple way to keep track if you are ready to own a property is when your mortgage do not exceed 40% of your income. (I recommend to keep it in the 30-35% range) If you are using it for rent, rental income must be higher than the mortgage you are paying.

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No You cannot convert the 5% into monthly installment. The only possible route is via cashline offered by Credit Facility of Credit card. Frankly if there is an issue to 5% DP to the property I would suggest to relook into your finances before commiting to the high loan amount when the Property Loan is fully disbursed.

Property

AS
Andy Sim
Level 5. Genius
Answered 3h ago
Yep your house is an asset but your mortgages are considered liabilities

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GL
Geraldo L.
Level 6. Master
Answered 3h ago
Bernard Arnault, the chief executive of luxury goods behemoth LVMH based on the Forbes report published about 1 month ago: https://www.forbes.com/sites/hayleycuccinello/2020/01/17/jeff-bezos-is-no-longer-the-richest-person-in-the-world-again/#193aaccfb622

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GL
Geraldo L.
Level 6. Master
Answered 4h ago
There's an opportunity cost of 2.5% for using CPF OA to finance your mortgage. If you are confident in earning a higher interest than 2.5% with your cash, then it might be more sensible using your CPF OA.

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L
LVJ
Level 6. Master
Answered 5h ago
Definitely propertyguru. Just looking at how they increase the fees they charged agent, u know they r market leader already

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It depends on how much leverage a person needs. For instance, if he has an instrument that yields a guaranteed rate of 4% per annum throughout the mortgage duration, and the mortgage rate is a guaranteed rate of 2% per annum throughout the mortgage duration, then it may make sense to consider taking a loan. However, if such leverage is not required, then stay debt-free since there is no need to take on more risk than necessary for the returns that the person does not need. Furthermore, it also depends on cashflow planning for the long-term. If this is absolutely spare cash that is not required for the rest of the life, then the more it makes sense to just pay off the property completely. Here is everything about me and what I do best.

99.co Event

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Krristy Lam
Krristy Lam, Editor at 99.co
Level 3. Wonderkid
Answered on 14 May 2019
There are a number of schemes that purport to do this, but all of them have some variations on the same theme. We examined one such common scheme here: https://www.99.co/blog/singapore/can-you-really-own-20-properties-with-no-cash-down/ But that’s by no means the only one of its kind. Variations include schemes that get people to invest in an individual, who then purchases properties and divvies out the rental income, or simply to invest in a group of businesses that all own different properties. While they are not necessarily illegal (many of them are in a grey area), or even bad, they tend to share some common traits: - It can be difficult to get out of the investment later, when things aren’t going well - The “ownership” may be primarily on paper (such as if several properties are collectively owned by a group of investors) - Many of them may not be under close scrutiny or regulation This isn’t an endorsement or condemnation of any such specific scheme; but be careful of the risks involved. We suggest you seek some form of consultation with legal or financial professionals before you get involved; the cost of consultation is often much lower than what a bad investment can end up costing you later. Cheers, 99.co

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L
LVJ
Level 6. Master
Answered 9h ago
U can talk to those mortgage broker like redbrick which they hv access to all the bank loans, they will tell u exactly which bank accept quantum less than 100k. As the quantum is small, u will need to pay for legal fees which is ard $2k+ and some valuation fees. U need to calculate the saving from the interest see worth it onot.
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