[A Sharing With Kelvin Fong] Saw an article on 29 July in Straits Times ‘Wary Buyers Shun Completed Homes’. Is it true? In my opinion, many buyers see an opportunity in the resale market as they might be able to find below market price properties too. Getting a resale unit for investment, they can get immediate rental income from the tenant. In the next 4 years, tenant will help the landlord to save a good sum of money for the house too. Next question is what happens if I need to top up if the rental is unable to cover the mortgage? Well, the question is how much do you need to top up? If you need to top up $500 a month, ask yourself this question is you comfortable? E.g. If your income is $8,000 a month, taking $500 out to pay for your asset, are you comfortable? In my opinion, this is a forced saving. Do not look at installment as expenses, look at it as saving. When the property appreciates, you will be able to get back your saving plus profit. By the way, the S$500 will reduce your principal of mortgage too and when you sell it away, whatever you put in will return back. For those who have read my bestselling book ‘Property Wealth System’, you will understand the theory of how real estate can be the Best saving Plan. However, many of you will be thinking what happens if I cannot rent out? The question is how much is your expected rental? If you are willing to reduce your rental, you should be able to rent it out anytime. Most of the time landlords are not willing to lower their price; as a result it took a longer time to rent out after they lower their expectations. #CijayTew #KelvinFong #singaporeproperty #singaporerealestate #zestacademy #HDB #propertyinvestment #investment #property #educational
Posted on: Thu, 07 Aug 2014 02:00:01 +0000
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