How to get rich with Singapore properties | After your 1st residential | No ABSD
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- čas přidán 12. 08. 2022
- Bought your residential property, so what's next?
Should I buy overseas property?
Should I buy commercial and industrial property?
Let me share with you how I build my portfolio step by step:
1. Which colour level are you at now?
2. You can consider to upgrade your property type from HDB to EC to Landed properties
3. Next go for location, OCR to RCR (City Fringe) to CCR.
So many ways to build your property portfolio in Singapore!
Do share with me your colour level too!
Cheers!
🔥 Upcoming property webinar "What to Buy and Where to Buy to Profit in 3 years?" 🥳
🎬 Register now!
📌 bit.ly/savvyrich3
For 1-1 coaching & consultation
✅👥what’sapp 8606 0670 or bit.ly/savvywa - Zábava
🔥 Upcoming property webinar "What to Buy and Where to Buy to Profit in 3 years?" 🥳
🎬 Register now!
📌 bit.ly/savvyrich3
For 1-1 coaching & consultation
✅👥what’sapp 8606 0670 or
bit.ly/savvywa
😲😲😲
Cool info again! Thanks Eric
Thanks for watching!!
Hi Eric, awesome sharing (and subscribed 😊) wondering instead of S1 (HDB) B2 (own stay and invest), what about getting a freehold landed (99:1) for own stay and another condo down the road?
Freehold landed is always good! Go for it 👍
Hi Eric. Great video. Curious to why you say freehold cluster or strata landed is not good. Thanks!
During neutral market, strata lose a lot of money. High maintenance, no demand, low popularity.
@@savvyericchiew thanks for the advise!
@@vikneshvaran welcome!
Hi Eric great video. How about condos at flora drive? Worth buying?
That’s the worst area 😩
I did a review on Jovell in the area. Check it out
czcams.com/video/ERIC53E72jM/video.html
So simply put, sell 1 buy 2 then maintain 2 properties all the way by upgrading own stay and don’t buy another investment ppty (and pay ABSD) tio bo?
That’s for residential. Commercial is how you can add more without absd.
Hi Eric, you mentioned partnering with other singles to buy. Is it possible for private condos?
Yes it’s only for private condos 👍
I started this way! 🥳
@@savvyericchiew What's the gross income of your combined salary for the shared purchase of your first condo with your friends?
@@gloryuntoGod that was 14 years ago and previously no income also can take loan easily 😉
Eric, we like staying in condos for the facilities. is it worth investing in OCR landed for rental income?
Landed rental yield is 👎. It’s mainly for capital appreciation.
It’s ok to have 2 condos 😉
thank you.
Hi Eric really enjoyed your videos. I am also your student from sip many years back and I bought my props after your class which have gone up:) but now absd is no longer viable to buy more . To upgrade is not my preference because it will make me asset rich cash poor . So I rather buy more for cash flow. Therefore I only have commercials to consider. What is the best size and type for retail or office ? Looking at 1 to 2 mil max . I saw some at Adelphi etc. What are your thoughts. My preference is building cash flow . I am in the 50s
Nice to see that your portfolio has grown 👍
Commercial risk is a lot higher and there’s no cashflow unless you are referring to industrial. Best to stick to residential by upgrading to bigger and better location.
@Eric Chiew thanks for the quick reply. But if I sell all 3 I have and buy bigger means I am down to 1 and 2nd one incur absd leh ( no option because single). Or worth it bite the bullet get the 4th one and pay absd ( assume freehold)
Eric good video , if keep upgrading to more residential, it is more for cap appreciation ? i old already so keep upgrade money tied in the prop and cash flow lower because more bank loan and shorter tenure. U say office lower risk, what type office good ah ( grade A or lower one), old one or new one and what criteria to use and find. or can use B1 to use as office? and how big is size good and almost pau chiak can rent? if bad time, what type office can still be rented out ( like chicken rice good time bad time people still eat but the posh restaurant bo business). Btw I am your SIP student. miss your tutorials on commercials
Yo! Focus on upgrading your resi, make profits faster than commercial and industrial 👍
Hi Eric, thanks for the information shared in the your video. Have one condo already. We are planning to buy second condo for investment. May I have your professional point of view which one is a better choice, to buy a new launch 2BR for example Dunman residence or to buy a 2BR resale in Sky Vue? The rental yield is very attractive now.😂
Resale is good but min 3br 👍
Resale also sell off after 3ys？😅
@@joycehe6980 yup you can do that too 👍
What already have 3 property and all prop co owned I.e. 2 names. So Sell all buy 2 ?
This is a good problem! Since you can’t buy and sell anymore. 😢
You can calculate the total value of the 3 vs selling all and buy 2, if it make sense then why not?
Hey Eric, thanks for the awesome content! Where would you recommend buying 3BR with a budget of $1.5m for first property?
Possibly RCR if not OCR, depends on stay or investment. If need me to assist to shortlist and recommend, consider 1-1 program 😉
Hi Eric, anyway to get around ABSD? Currently own a 2B2B FH Red light district property. Is the capital upside Low and purely for rental income?
@@xiaochen5219 no way, everyone can only own one Resi. Anyway time sell your existing property and get a bigger and better location one! 👍
for the sell 1 buy 2 strategy to work, does it means that you always have to sell your property after 3 years? Just wondering how is feasible for this strategy to work for young families with school going kids?
Own stay property can stay long, investment property can buy-sell every 3-4 years 😉
That’s the beauty about having 2 props 👍
@@savvyericchiew if upgrade to EC for ownstay and then buy another property for investment later on, is that also workable?
@@maxwelllow3109 yes it works as long they are fast appreciation projects 👍👍
Hey Eric, I've already purchased my 1st private condo in 2021 for investment with both names and wondering what are my options now if I intend to get another for own stay or should not ?
Assuming is 50/50 shareholding, earliest to plan is 2024 because you are within SSD period
@@savvyericchiew i see, so not wise to pay 4% SSD next yr if i were to decouple, just listing what options i have than waiting till 2024.
@@msskda9713 may I know what project you buy? I may be able to find ways to decouple now instead of 3 years later 😉
@@savvyericchiew I have gotten florence
@@msskda9713 I may be able to help you save at least 20k of legal fees in decoupling. You may want to do this up and show me.
tinyurl.com/savvyasset
Hi Eric, I've bought a Woodlands 5room flat at 410k in 2019 right before covid. Now valuation is around 650k. 2024 will MOP, thinking of going back to my childhood area of marine parade, what do you think I can do when that time comes?
Congrats to your gains! Let’s wait till 2024 then see what opportunity is available. Sadly MRT will be done 2023.
@@savvyericchiew all along don't want to get large mortgage to burden myself, so thought of just buying the marine parade 50 year old flat. Just to be able to enjoy the location.
@@huhx87 having a housing loan on a good property is a good debt. Leverage to make profits start from young. Overall must depend on earning power and age too 😉
Thanks
Thank you so much!! 🙏🏼🙏🏼
Hi Eric。So if a couple made a lot of money through their stock investment. But have no experience with property. Do you suggest they start directly at the higher end of the property series. Say hypothetically, they have 10million dollars. Does that mean that they can and should start off directly with landed properties (given that they have little experience). Or should slowly move up the property series and gain more experience first?
Depends how hungry they are. By right with this amount of funds and profile, landed is the way to go. 1 landed and 1 condo is a good start.
I think you are referring to yourself. Well done Jane! You are a giant Huat kueh! 🥳🥳
@@savvyericchiew haha no la. I am just curious. 😆😆 But your video analogy is like playing monopoly. Get 5 green small house then upgrade to a big red hotel 🤣🤪
@@janelee1069 Same like playing monopoly, buy and sell and learn from mistakes.
Mistake from real life, it’s real painful 😣
@@savvyericchiew all gurus have battle scars to show 😉
@@janelee1069 like that then handsome 😎
If property still within the 3 years , the sell otp issue date is it : years from stamp duty date or 3 years from my buy otp exercise date ?
Stamp duty 👍
Thx 🙏🏼
Hi Eric, I wish to know more about the 1 to 1 session.
My team will send you info.
whatsapp them at bit.ly/savvywa
Hi Eric Sifu, how to meet you for 1 to 1 consultation. What is your Huat kuey fees?
You can contact my team for details
bit.ly/savvywa
Hi Eric, would 2 BR @ Leedon Green be a good start - not sure if want to own stay or sell for capital appreciation later on.
if around 2.5k psf
No please, there are tons of better ones!
Hi Eric, really thanks for your video and I’ve learned something from it. We have a 25yo condo unit in OCR Yio Chu Kang under my hubby’s name. How to use your S1B2 strategy?🤔🤔😀
You can do this up tinyurl.com/savvyasset and send me Facebook.com/savvyeric
Eric, as a new applicant for hdb, should i bto as a Single owner and put my wife as essential occupier. After 5 years mop I can use my wife name to look out for new launch condo. Is this a better option?
BTO for single cannot apply for most flats types and must be over 35. U need to use 2 names. Similar for resale, if you get married, you still cannot own 2 property as couple of one is HDB unless pay ABSD.
EC can decouple after MOP. You can rent out and buy another after decouple. Do your sums first as decouple need to cover BSD as well.
You need to plan it base on income also for the EC split. This may work.
Good luck bro.
Yes you can do that to have an option to buy private later. However, my studies show that 2 private is better than 1 HDB and 1 private. 😉
Haha, I gave a thought on this, perhaps HDB has a bigger living space to cater to our needs. . Able to do a video to address this strategy? 1 owner 1 essential occupier. I believe this strat is more suited to couple earning an average monthly of 4-6k each.
Most of your money is stuck in HDB, without selling, most don’t have funds to buy a good investment prop. In the end still sell 😅
Use Eric’s savvy spreadsheet can already to see how much you need..
1st option
Don’t sell. assume you don’t make any from HDB as never sell. Key in your projected CPF and cash savings.
2nd option
Then assume you and spouse apply BTO 4room and make 250k.
3rd option
You BTO a 2 room flexi alone and list her essential occupier.
The flat very small and you make around 150k.
4th option
You get big resale property. You still need around 300k cash + CPF from wife to buy 1.0-1.2M second investment property.
5th option
You get EC and make around 400k. Then sell and buy 2 property.
See which option easiest.
What about CLEMENTI area? And at any one time can combine both tracks to buy one landed first or not
Yes landed in 2 names is fine 😉
If you hold a property , able to engage in buy otp for new purchase then sell otp for sale of property. What s the process and timeline like for the otp and completion ?
Sell then buy. Not buy then sell
Thx for the reply ! But what if say u found one that you really like but just wanna hedge that first , any way around it?
@@SarahSarah11119 my rule is sell first. If not the risk is forfeit
Ok . Thx 🙏🏼
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cool video!!!
😲😲😲😲
really cool~
😲
🙏🏼🙏🏼
@@savvyericchiew 😌😌
Can sell current hdb and buy next home without touching cpf?
In most cases, you need to use Cpf for Downpayment
U r awesome!
You too! 🥳🥳🥳
are there any options for those waiting for MOP?
Save up as much as possible! Can start to plan 1 year in advance
Eric, 15 years old FH boutique apartment in the east, worth to buy or not?
It’s the worst combination! 😭
I just saved your life!
@@savvyericchiew near Bartley, what do you think of Kensington Square?
@@blossom6064 eeeee that’s a very bad one.
I saved your life again! 👍
Now govt just announce they will come down on the 99:1 that aviod tax and will be fine. Now authorities is check and will you be liable as well?
I don’t structure this way to buy property.
@@savvyericchiew yes i believe you 😄
Im holding ahdb flat , if i buy a condo.how much will be the additional stamp duty
If you still have an outstanding loan, Downpayment 45% +4%+17% = 66%
If fully paid HDB,
Downpayment 25% + 4% + 17% = 46%
Note that you will NOT make money for your investment 3 years later after paying ABSD.
You are welcome! 😎
@@savvyericchiew thanks bro one more qn , let say i sell of my existing. Then i buy a condo. Wat will be the stamp duty, thanks
@@gunnerstnt01 less than 1mil will be 3% minus $5400.
more than 1mil will be 4% minus $15400 👍
My next video will be very helpful to you! Subscribe and stay tuned!
2BR tre ver worth to consider? Hmm
I don’t like the location 😩
@@savvyericchiew why u don't like the location there ?
Because I lived there when I was young 😆
Nothing much sia. Boring place except for good school.
hmmmm combined income with wife barely enough to afford E.C - will be possible to achieve the goal of sell 1 buy 2?
Yes super possible 👍
Is the 23 Aug 22 Webinar free?
Yes! Enjoy watching!
1.4M can buy 2 bedder new launch ？ and which ocr is best for investment?
1.4m budget is max for 2b2b new launch but can get resale 3b3b 👍
Thank u. Very insightful video. Hope more to come to educate the amateur 👍
Sure more coming!
Haha Eric. Suan me back. Anyway thanks for your guidance and valuable information.
Your question is very good and legit and I want to use it positively and educate many who have the same questions 😉
lol. the SIA girl uniform colour and it's ranking like our dollar note colours... nvr saw the resemblance
We all learnt something today 😆
Hi Eric, what is minimum income requirement for sell 1 buy 2?
Best to have at least $10k combined. Also depends on your proceeds if you are selling and cash on hand. Everyone starts somewhere, so always do 1 first then 2nd one later. 👍
@@savvyericchiew Does bank look at your expenses? i know some country also consider your living expenses ie car loan,
@@fool1124 banks only look at your loans. Credit card, car loans, housing loans, personal loans.
Wah! Got huat kueh plush toy
I got 2 plushy! How about you? 🤣🤣
getting older .. loan tenure will be shorter, how to continue to buy sell buy sell...
By having multiple rounds of selling and buying, one should have made a few pot of golds and may not need max loan for investment.
Anyway there are ways to increase loan tenure 😉
TIQ Shaun and his salesy wife would be on fire watching your video... hahaha!
Anyway, Eric I would contact you soon for a 1-1 consultation. Just sold my condo and thinking of where to buy.
I hope to provide the right solutions for Singaporeans. Looking forward to our consultation. Cheers!
If I was asked what are some of my favorite districts, the first answer that would have come to mind is “red light district”
😂🤣
Why not? What would be Eric’s view of Geylang/ Guillemard area pls? 😳🤭
@@thegreenbaby9365 I don’t like though 😅
should create the ultimate boss class property after CCR GCB : the Istana 🤣
No money can get that level 🤣
So fast to finish ah?
you like longer videos ah?
Cant afford to buy a condo. Income just 3k
Build your career, save up and invest 👍
@@savvyericchiew any other way bos to be huat like u? Now im waiting for bto to complete in 2027
@@viralloger267 BTO is a good stepping stone. Consider to upgrade to condo when your MOP up on 2032 👍
May I know🤔 why u dislike n head yishun so much. 🙄
Because if you buy Yishun vs other areas at the same time. You make lesser in Yishun. That sets you apart from your friends 😢
does this apply to Yishun only or north region shifu?
Where u live now, why only Yishun..die die want Yishun just buy lah..no need consult
@@savvyericchiew have a look at recent MOP flats in Yishun….catching up in prices and almost similar to SK and Punggol. I smell opportunities
North region 😥
Level 10: buy the Istana 😂
Wah this one super high level man! 😱