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Sell 5 room flat and buy 2 condo units for better cash flow.

Friday, June 24, 2016

Recently, I shared on FB a conversation I had with a friend regarding a talk he went for:

Friend:
"I went for a talk on property investment recently.


"The person wants us to sign up for his course and he will teach us how to sell our HDB flat and invest in private properties for better returns. 

"What do you think?"








AK:
"He will make money from the course. 


"He will make money when you sell your flat. 

"He will make money when you buy the private property. 

"I guarantee that he will make money. 

"Can he guarantee that you will make money?"





Seeing that, a reader who went for the course shared her experience and thoughts with me:



Y:
Refer to this post. I went for the course. Paid abt 3k. Learn all the concept. N it's workable. 

Just we mostly will not take any action to sell Hdb n go buy two privates. 

Because most of us will scare. Any step goes wrong then just gone case.



But they after the course also will provide service to help u achieve your dream la. Eg. Help u sell n buy n also get loan n tenant etc. 


Total 8k help u turn from one HDB to two privates. 






AK:
Refer to the questions I asked my friends. My opinion has not changed.

Y:
Just share my experience only.

If not prepare to pay the almost 10k. Better don't go for the course. 

If hardworking enough. All info can get from Internet





AK:
Basically, the students bear all the risks. ;p

Y:
Ya
Speaker make the most. N easily buy properties for themselves


AK:
 that guru makes BIG $$$.


Y:
Risk here is. Risk of our market turning down. So. Property might not able to rent out easily





AK:
Interest rates rising. Oversupply problem. Rental falling. 

I think there will be many who are going to be caught swimming naked when the tide goes out...

In fact our govt has done good job
For the protection part

All the taxes or rule is not set for fun de
This is to avoid ppl too greedy n anyhow buy

Ppl just cannot explore too much. Except those real rich millionaire




AK:
Yes, problem is that the "guru" will not discriminate between the millionaire students and the not so rich students...


Those borderline cases will be the ones who suffer the most as they don't have holding power or the ability to take a big knock.

In the pursuit of greater wealth, we should not throw caution to the winds.
---------------------------------




Honestly, if we are after cash flow, why not rent out the spare bedrooms in our 5 room flat?

What? 


Bedrooms occupied by children? 

Then, how are we going to have enough space in a shoebox apartment?

What? 

You have seen a family of 4 living in a shoebox apartment after they sold their HDB flat and bought 2 private shoebox apartments?

You know, I believe you because I also know a family who did that.

Seriously mental.






Finally, when people tell us that we can sell our HDB flat and own 2 private shoebox apartments, remember that unless they are fully paid for, we don't have ownership. 

We might have control of the apartments but we don't own them.


(Remember, nobody cares more about our money than we do and don't ask barbers if we need a haircut.)


Related posts:
1. Should I sell my HDB flat to fund condo buy?
2. Buy that second property and pay the ABSD?
3. Disastrous investments in the property market.


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