Quote:
Originally Posted by JuzOldGuy
i have $200K in my CPF acct, but $180K will end up in my Retirement Acct soon. so is $20K enough to woo any?  |
Quick go buy a $700k 1br condo with that $200K, borrow 70% & $10K cash.
You should look for something that can rent for $2500
At $490K loan @Interest rate at 1.85% your mortgage is $2444.17
Then just make sure u upkeep it such that it’s always rentable
Few things will happen:
1. Long run prices go up by 3-7% (up 3.1% last qtr)
2. Rentals go up. Hopefully in line with inflation (now at 2.7% according to singstats)
3. In 20yrs time enbloc May happen. If not in ur lifetime perhaps in ur children’s lifetime and wouldn’t it be great to leave them a legacy?
Case study:
2007 1br apt in TgPagar transacted $555K
2017 same apt sold $1.025M. Refinanced along the way for $560K. Outstanding loan at completion was $463K. Net proceeds $562K. Or $550K after legal and agent fees.