Douglas Chow, Chief Enlightenment Officer at Empower Advisory
Posted on 26 May 2019
Yes, my blood boil at these very misleading ads too. No money down means taking an enquity loan based on your current fully paid up or partially paid up property. Sometimes it means using "illegal means" to get full loans and in some case project valuation is artificially inflated so that you can get a larger loan based on the inflated valuation rather than the actual lower cost of purchase.
Essrntially there is no such thing as no money down. It's just a bait to hook u to attend and pay for their seminars.
Singaporeans have gotten into big trouble by investing in dubious property through such seminars. Just google "Eco House Singapore Scam". There are many such examples. These rah rah come and go and keep resurfacing. MAS should clamp down on all these ads.
These rah rah seminars are mainly a conduit for the rah rah workshop organisers to offload properties to their participants and to earn from their ridiculously priced "workshop" where they bait you that you will be linked up with fellow investors etc.
Speak to qualified professionals who are in the market and know what can be done and what should not be done.
You can always connect with me via https://www.facebook.com/douglas.chow.908 or simply whatsapp/sms my company 24/7 hotline @83324283
Remember, plan your finances properly, don’t overstretch, do your homework and enjoy your property investment journey.
When they say no money down, they mean debt funded rather than you cough up the cash. When they say own multiple properties, they mean a group of investors pool money together to co-own multiple properties.
The method they teach is not illegal, just complicated to manage and the success of your investment, in my opinion, is highly dependent on your co-investors.
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