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 How to get started to invest in property?

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moonh
post Jul 12 2009, 07:14 PM

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QUOTE(Pai @ Jul 12 2009, 06:27 PM)
1. Normal capital required is approx 15% of the targeted property price. Some use only 3k to buy a 300k condo.
2. Shops, if you have the cash.
3. Its possible, but advise you to get a hold of the basics first before jumping into an advance subject, IMO.
Good luck.  smile.gif
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"Some use only 3k to buy a 300k condo."
Is it advisable to do that? i.e. dun have to pay anything initially (borne by developer & bank) & only pay monthly installment. if i can flip this (i know it's a big IF), surely it's good deal? or is there anything that i miss?

and for this period of uncertainty, is it ok if my debt to gross income ratio is 40%? (one apartment + one landed house)
moonh
post Jul 12 2009, 09:43 PM

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QUOTE(Backkom @ Jul 12 2009, 09:49 PM)
I would say that depends on how big your other 60% is?  tongue.gif
Bottom line is - can you still sleep soundly at night? If yes, don't see much problem here as long as banks are still willing to lend to you.
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QUOTE(aramis888 @ Jul 12 2009, 10:12 PM)
yes, that can be done.  you just got to know how. brows.gif
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thanks..i did post my query about this, but no reply..guess the location is not so prime then.. wink.gif
http://forum.lowyat.net/topic/1091324

this should be very helpful to TS.. smile.gif
moonh
post Jul 14 2009, 11:29 AM

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QUOTE(aramis888 @ Jul 14 2009, 11:57 AM)
Oh..The infamous guru of property invesment.  whistling.gif
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tongue-in-cheek i reckon? wink.gif

moonh
post Jul 14 2009, 12:24 PM

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question for sifus:

say i have little money at the mo (just enough to cover 6 mths of my mthly exps), but i can get 100% loan and all other fees are borne by developer & bank. pay nothing until completion. i could rent this f/h landed prop, but will get -ve cf, confirmed.
can i buy this for flipping? or is it too dangerous?
moonh
post Jul 14 2009, 04:40 PM

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QUOTE(Pai @ Jul 14 2009, 04:41 PM)
Under a difficult circumstances, you'll get killed. 
For any flippers wannabe, ask yourself this :
Assuming you will get zero rental income, can you afford to keep the property for a minimum 2 years WITHOUT touching your reserve funds?
If the answer is YES, then by all means flip and gamble. But if you cant afford it, suggest you play the safe man's game. Honestly, I couldnt flip bcoz I couldnt afford my own rule. Suppose this explains why I never sold any of my properties to date.  wink.gif
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thanks for all the advice, really appreciate it.
i can maintain <30% DIR and should not touch my reserve funds, IF within the nxt 2 yrs:
-my salary stays the same; can still hang on to my job
-my apartment can at least cover mthly installment (projected to be higher)
-we don't need another car

still a risky move, as i think these 3 can easily be on the wrong side.
thanks again.
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