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1 bedder at wannabe CCR (Sophia area) bought during peak market.....good luck. Even property agents know that 1 bedder during boom market also hard to sell at a breakeven.
I was a financial planner in a bank but quit my job about 2 decades ago, I referred one of my clients to a junior, we went to the customers' factory in his BMW 7 series, When he went to the rest room, my customer asked how could he afford such a huge car, he was worried that he would mis-sell or that if he was born with a silver spoon, he would not understand the value of "hard-earn" money of his clients. There are many of my colleagues back then who drove sports cars and wine and dine clients at fine dining restaurants (reminds me of the financial planners who died at the Tanjong Pagar accident). I can tell many customers are uncomfortable and may not appreciate. Many very wealthy clients I have are very humble and almost never flashy hence, I always wonder why would they want to be seen around with a flashy financial planner. The clients we were serving were already very rich, what was there to inspire with a shoebox unit or a fast car that they probably have in dozens?
I remember during my twenties, one of my friends was doing MLM and had a very impressive title and a BMW car, that was sponsored by the company. He brought me his company and showed me all the pictures of the other "directors" with BMWs and Mercedes and he said exactly the same thing. (using the luxury cars as a way to visualize success). The issue is the success that he speaks of has nothing to do with his success of his clients but the success of the salesmen. But it is his life, and it is one of those things that one has to experience first hand because they usually cannot accept other views.
Heng said he make money by advising wealthy clients. Based on what he did with his finance choices, I am surprise that his so-called wealthy clients will let him handle their money. *Puzzled*. And this Heng seems to be lacking of life experience but talked as if he is a guru. I think Josh, you are more qualified as a financial planner.
I know of million dollar club financial advisors who live in HDB and are not ashamed of their humble accommodation. Contrary to being seen as successful when you live in a swanky apartment, an astute potential client or business partner may think of you as a wannabe rich person or worst an empty shell.
His parent got money, it’s smart move to leverage on that. I had hk friend who refused to take money from her parents to buy house in shenzheng 10 years ago because of ego which tons of her other friend did and their apartment flipped 2-3 times, she regret big time. Nothing is fair, if you are born privilege, it’s true you get more leverage and a safety net to invest riskier and younger.
His confidence lies in his 20k salary. I feel it is safe considering he is young. But the hard part of maintaining 20k is tough. I believe his mum is well off which is another safety net for him. i think it is safe for him, at his age usually we would go for a car first so he did the better purchase. maybe he did has a car. going for such condo must be well off family
I am real estate agt for 30 + years . To “flaunt” is to inspire. Look at some agency n leaders how much they “inspire” their team thru their lifestyle but hopefully they know market had been strong (weirdly) for the last 10 plus years and many had not gone thru bad times ie can they sustain the lifestyle for 2 years if market take a down turn
Property all-time high. People FOMO in. This guy can't afford it because he financed huge portion of it. A condo if not generating income it is a liability, outgoing will eat into the monthly active income. This is a bad move and generally will slow down wealth building.
thanks josh. it is interesting to hear stories of Singaporeans buying properties and their thoughts on why they choose this. i do agree with your point that our generation, our first home is not our last. And a 100k renovation is something i will not do. I do hope Heng will profit from the core region, 1 bedder. Looking forward to more videos like this.
Do not think it would be a good investment. Firstly, as you said, there is a lack of prudence for someone who is in the financial advice space. Secondly, buying a small scale condo is difficult to make a good profit even if there is. And the location of the condo is also not fantastic and the pricing is too steep for such a location. 1st floor unit also is more difficult to sell. More likely, he will be selling at a loss in the future and even if he can make a profit, for such a small sized condo, the max he can probably make is additional $200 per sq ft and that would probably yield less than $100k of profit only and that amount is so small for the downside risk that he is taking. Overall, quite a bad decision and I will never seek financial advice from this guy at all if I know that he had bought such a condo.
@@joshconsultancy just got to call a spade a spade. If I know that he had bought such a condo and had to borrow money and put everything into the condo, I will really question his financial sense. Maybe he was trying to brag about his 20k salary hence to tell everyone he can afford it. Sure, it is a good thing for hinSelf that he can buy the house but as a financial advisor, not someone whom I can trust.
sigh...i can see many things going wrong for this guy, and not much potential upside tbh. speaking as someone who had a 2BR 560sqft condo put under my name 10 years ago by my parents, and just sold that property in order to be eligible for resale hdb. 1 - 4 years TOP is a long time and many things can change. He is already 25, move in 29. His unit is
Generally shoe box units are not good investments. I know because I lost about 40k in the sale of my shoebox unit. I moved on to a 99 yr condo and is blessed to experience capital appreciation now. I wish him good luck in his property investment journey.
He is young with well to do or rich parents, he is very lucky to have a good start in life compared to many of us. All the best to him. Those of us who are not as lucky, it’s ok too, we live and learn and continue to strive for financial success. Like the Chinese saying: cannot conclude until we are nailed into our coffin, even with that saying, as long as we are content and grateful for what we have, who is to say we are not successful?
Didnt know it was a first floor unit, all the more it would be harder to sell imo. There is a lot of negative stories associated with the level. As you mentioned he had to borrow to pay for downpayment which means there is an affordability issue at the start. Same goes for unable to buy a resale condo with tenant prospects to solve the mortgage issue. Hopefully his 20k/pm can sustain for his mortgage unless he only needs to pay upon TOP. New launches are the best deals for property agents, the moment the buyer signs the paper, whether he can repay or not is none of their business.
All the hard truths exposed and I agree with many of your analysis esp on the property choice. Hopefully there is a miraculous turn of event when the unit TOP n he is able to see a posiitve outcome in his investment.
It is not a bad idea to buy a condo as a form of investment for him. It is just that it seems to me that the way he analysed his choice of property is very different from the majority of buyers - who usually factor in proximity to transport links, amenities and schools. Perhaps, his exit strategy may include parents wanting to enrol in ACS primary (1km) but seems its kind of a niche demand. I used to study at St. Margaret's Pri and it was really a long walk up the hill via Sophia Road and even the shortcut to dhoby ghaut mrt is kind of tedious downhill and especially uphill. Perhaps he will sell his property eventually (even though it may be a loss) and buy a better property with more experience. Really like your advice on advising young couples to not spend so much on renovation. I feel the same way too! 👍
As wat Josh had mentioned, by time the Condo is available for sale in 4 to 5 yrs time and is way below wat he has paid for, he might not profit from the sale and will be stuck for a while b4 its profitable to do so. If really as a investment tool at tis current high ppty price trend, will be wiser to buy a ppty that can be be lease out to gain some passive income gain in the few yrs while waiting for TOP. N getting a shoebox size condo will limit the customer pool. Hardly seem a worthy investment for tis period
Daniel Heng, 25 is the type of person who knows how to enjoy life even at such a young age. No doubt, his wealth is definitely well below those who buy a resale HDB or invest in stocks. He prefers to have lesser wealth in his seniors rather than those who have a few millions but never stay in a condo for the rest of their life. Josh Tan, you must be enjoying life living in your condo.
Actually if the story was he bought a $1m resale condo as a first house now to work nearer to town And he'd saved up the $250k from his own hard work, didnt need to borrow the 100k... Affording the mortgage was no problem... we would all be abit more supportive
came from Daniel’s youtube interview with another property agent … its becos of his $20k income, def no prob … he is young but his orchard Sophia patio purchase is hard to exit in my opinion …
My two cents: Swanky and shoe-box unit doesn’t go together at all. It’s sounds more like those over-priced tiny-weeny apartments that are both hard to live in and hard to sell even for single person occupancy.
@@MrKendoex Hard to answer, let's just say.. be mindful that renovations are expenses. Money you don't expect to recover when you exit. ie. Can't tell the buyers "you" spent alot on reno and going to price your house higher.
My biggest takeaway from the example in this video is the duality of the insurance industry. I have personally encountered several of such "financial advisors" who profess to have expertise in financial planning, yet the way they live their own lives (living the baller lifestyle after a short period of high income) goes against everything they preach. I feel that there's something fundamentally wrong about the way the insurance/finance industry markets itself to prospective agents/"advisors".
I really hope he honours his promise of returning the 100k back to his mum with interest. When mortgage payments and other cost kicks in and he is not able to maintain his income, the temptation is there to delay this payment since there is no written obligation. If i were his Mum, i would consider this 100k as a possible "non-refundable".
Yeah its his purchase of Orchard Sophia that raise more questions about him rather than the abilities of affordability of the condo. Nearby Sophia condos are already not making much money. Launch prices feels pricy hence the low take-up. It feels like a gated apartment. His mgmt fee will be a bomb cause it is shared with so few other people. Tiny freehold in CCR is plenty. Guess if he makes money, every other property makes and your trajectory that this is the peak is possibly wrong😊.
@FergusTan Yah lor don't make sense if you buy 1bdr at level 1. Usually, you buy level 1 for more PES area for 3-4 bedders for your kids to run in an enclosed place. That's the differentiating factor vs other levels.
As an investment outlook, its much more possible that his property is not going to make him money. I think he is too tempted to have a "swanky" image to fit his branding (a expensive and painful one to be). $1.27M can buy him at least an OCR 2B resale which he can flips faster and get to leave in a bigger place. Also, this highlight the importance in having responsible property agent. She should have advised Mr Heng that Orchard Sophia would not be a wise investment choice. She probbaly just wants to close the deal and get the comm. Sadly, many agents are like that. Wish him all the best Note: Josh, Edge Prop weekly magazine can be downloaded for free on their website. Why do one needs to subscribe? 😄😄
Now graduates either go to be property agents and financial agents to buy their 1st property fast. Since he is an undergraduate and in sales with no fixed monthly payroll, how he can secure a loan ?
TL;DR: In this video, the narrator discusses a young undergraduate named Daniel Hing, aged 25, who recently bought a condominium unit as his first property. The narrator provides details about the property purchase, including the down payment and the condo's location. Daniel received financial assistance from his mother for the down payment and earns over $20,000 per month as a financial advisor. The video also explores the reasons behind Daniel's decision to buy a condo instead of an HDB flat, his aspirations, and his plans for the property. The narrator analyzes the investment aspects of the property and discusses the potential challenges and speculative nature of the purchase. Finally, the video emphasizes the importance of considering various factors when making property investment decisions.
heng is very bullish about his investment and his career. i hope he has a backup plan since this road he has chosen is very risky. i very much prefer josh's approach in investing
Good question. At the mentioned income level, it would pass it. 30% of property downpayment is also a matter of time at the mentioned income level. Concern then becomes sustaining the mortgage as a self employed A veteran in the industry would have a base built in to mitigate that risk
Believe he can manage financially but he bought the wrong condo unfortunately. That enclave of condos there are hard to exit and many unprofitable transactions. He likes to present FA as Swanky, Materialistic and Worldly.... at the expense of their clients. What is his purpose of trumpeting this pty purchase ?
wrong to say delay gratification but if u not Pty savvy is fully understood, Different from stock, Pty here , get in early, cash out after top..repeat..each cycle 4-5 years..for age 25, he can do this 5 times to age 50.. the older u wait to enter,,the harder u get Pty loan..specially those after age 45.. by the time u save enough, u failed tdsr due to age 65 loan years
Different from stock? Our ever famous SPY average 10% pa returns for past 100years. 😂 Wow flip property every 4-5years bao jiak? Timing is important & knowledge is the key to success 😊
U forgot about leverage. 20+% upfront payment + amortised small repayments to own a 1M asset (if u do not live in it), which easily gives you 3.5% rental return annually (conservative) and this probably excludes capital appreciation. Freed cash flow can be further put to work in other equities/bonds. You only stand to gain
Its becos of his $20k per month income, definitely no prob . Good bet when you are young and have your head well screwed on, stupid if you are old, to go all in with little runway.
He might be lucky to hit his aim ..but posting his story with all his reason and facts at this time will invite lots of conflicts against him ...cos lots of unlogic matters
Earns 20k per month need to borrow 100k? I work part time 500 per month. 6 months I can buy one iPhone liao. He knows how to count Bo. Agree with you, need to be prudent la. Cannot be you ask your client to borrow money do ILP ma. Every year I get to see this type of "motivational story* 😂😂😂
Come on ..need borrow parents money to invest own home that is not fully paid is all wrong .. hes carrying a big cost burden .. he need succeeded 1st then post his ability mah ..
Buying this $1.27 condo just to b swanky to project n image that he is successful to further his financial advisor services, wouldn’t he buy a Ferrari instead? He can’t drive his $1.27 condo….😂😂😂
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1 bedder at wannabe CCR (Sophia area) bought during peak market.....good luck. Even property agents know that 1 bedder during boom market also hard to sell at a breakeven.
I was a financial planner in a bank but quit my job about 2 decades ago, I referred one of my clients to a junior, we went to the customers' factory in his BMW 7 series, When he went to the rest room, my customer asked how could he afford such a huge car, he was worried that he would mis-sell or that if he was born with a silver spoon, he would not understand the value of "hard-earn" money of his clients. There are many of my colleagues back then who drove sports cars and wine and dine clients at fine dining restaurants (reminds me of the financial planners who died at the Tanjong Pagar accident). I can tell many customers are uncomfortable and may not appreciate. Many very wealthy clients I have are very humble and almost never flashy hence, I always wonder why would they want to be seen around with a flashy financial planner. The clients we were serving were already very rich, what was there to inspire with a shoebox unit or a fast car that they probably have in dozens?
Thank you for sharing your story
I remember during my twenties, one of my friends was doing MLM and had a very impressive title and a BMW car, that was sponsored by the company. He brought me his company and showed me all the pictures of the other "directors" with BMWs and Mercedes and he said exactly the same thing. (using the luxury cars as a way to visualize success). The issue is the success that he speaks of has nothing to do with his success of his clients but the success of the salesmen. But it is his life, and it is one of those things that one has to experience first hand because they usually cannot accept other views.
Last point is very true!
Heng said he make money by advising wealthy clients. Based on what he did with his finance choices, I am surprise that his so-called wealthy clients will let him handle their money. *Puzzled*. And this Heng seems to be lacking of life experience but talked as if he is a guru. I think Josh, you are more qualified as a financial planner.
Im not young already and 16years into the career, experience and mistakes make us all wiser
I know of million dollar club financial advisors who live in HDB and are not ashamed of their humble accommodation. Contrary to being seen as successful when you live in a swanky apartment, an astute potential client or business partner may think of you as a wannabe rich person or worst an empty shell.
His parent got money, it’s smart move to leverage on that. I had hk friend who refused to take money from her parents to buy house in shenzheng 10 years ago because of ego which tons of her other friend did and their apartment flipped 2-3 times, she regret big time. Nothing is fair, if you are born privilege, it’s true you get more leverage and a safety net to invest riskier and younger.
Great analysis. I have learned a new word today “Swanky”.
lol yes
His confidence lies in his 20k salary. I feel it is safe considering he is young. But the hard part of maintaining 20k is tough. I believe his mum is well off which is another safety net for him. i think it is safe for him, at his age usually we would go for a car first so he did the better purchase. maybe he did has a car. going for such condo must be well off family
I am real estate agt for 30 + years . To “flaunt” is to inspire. Look at some agency n leaders how much they “inspire” their team thru their lifestyle but hopefully they know market had been strong (weirdly) for the last 10 plus years and many had not gone thru bad times ie can they sustain the lifestyle for 2 years if market take a down turn
Property all-time high. People FOMO in. This guy can't afford it because he financed huge portion of it. A condo if not generating income it is a liability, outgoing will eat into the monthly active income. This is a bad move and generally will slow down wealth building.
Lehman brothers moment for some of the high flyers .... unless your parents are the .. fed .. or Powell
thanks josh. it is interesting to hear stories of Singaporeans buying properties and their thoughts on why they choose this. i do agree with your point that our generation, our first home is not our last. And a 100k renovation is something i will not do. I do hope Heng will profit from the core region, 1 bedder. Looking forward to more videos like this.
No probs, smash the subs and stay tuned! =)
Do not think it would be a good investment. Firstly, as you said, there is a lack of prudence for someone who is in the financial advice space. Secondly, buying a small scale condo is difficult to make a good profit even if there is. And the location of the condo is also not fantastic and the pricing is too steep for such a location. 1st floor unit also is more difficult to sell. More likely, he will be selling at a loss in the future and even if he can make a profit, for such a small sized condo, the max he can probably make is additional $200 per sq ft and that would probably yield less than $100k of profit only and that amount is so small for the downside risk that he is taking. Overall, quite a bad decision and I will never seek financial advice from this guy at all if I know that he had bought such a condo.
Last part abit harsh. Lets leave it as disagree with his choice of purchase k
Cya around
@@joshconsultancy just got to call a spade a spade. If I know that he had bought such a condo and had to borrow money and put everything into the condo, I will really question his financial sense. Maybe he was trying to brag about his 20k salary hence to tell everyone he can afford it. Sure, it is a good thing for hinSelf that he can buy the house but as a financial advisor, not someone whom I can trust.
sigh...i can see many things going wrong for this guy, and not much potential upside tbh. speaking as someone who had a 2BR 560sqft condo put under my name 10 years ago by my parents, and just sold that property in order to be eligible for resale hdb.
1 - 4 years TOP is a long time and many things can change. He is already 25, move in 29. His unit is
Good points raised.
10y ago that would be 2013, 560sqft condo unit, ya that’s a chance the unit owned had losses
He already made $100k from his mommy. No problemo
Generally shoe box units are not good investments. I know because I lost about 40k in the sale of my shoebox unit. I moved on to a 99 yr condo and is blessed to experience capital appreciation now. I wish him good luck in his property investment journey.
He is young with well to do or rich parents, he is very lucky to have a good start in life compared to many of us. All the best to him. Those of us who are not as lucky, it’s ok too, we live and learn and continue to strive for financial success. Like the Chinese saying: cannot conclude until we are nailed into our coffin, even with that saying, as long as we are content and grateful for what we have, who is to say we are not successful?
Good analysis! Can consider becoming a property consultant on top of financial consultant. Your analysis is systematic and detailed.
In SG, financial consultants cannot hold property licenses. Thank you for the high praise Vincent
Just wish I had wealthy parents who can support me for condo downpayment 😂
Aspirational visualisation for associates: "By borrowing lots of money from your parents, you too can afford a condo like me!"
Didnt know it was a first floor unit, all the more it would be harder to sell imo. There is a lot of negative stories associated with the level.
As you mentioned he had to borrow to pay for downpayment which means there is an affordability issue at the start. Same goes for unable to buy a resale condo with tenant prospects to solve the mortgage issue.
Hopefully his 20k/pm can sustain for his mortgage unless he only needs to pay upon TOP. New launches are the best deals for property agents, the moment the buyer signs the paper, whether he can repay or not is none of their business.
First floor unit. Acquired taste. Some like some don't. Guess we both belong to the don't
Cya around ya
A very well thought out analysis from Josh. Nothing I would disagree. In the end, there would always be a 🥕 among the huat kuehs
This is a case of not knowing the pfoperty cycle & eager to get in becos of fomo.
All the hard truths exposed and I agree with many of your analysis esp on the property choice. Hopefully there is a miraculous turn of event when the unit TOP n he is able to see a posiitve outcome in his investment.
It is not a bad idea to buy a condo as a form of investment for him. It is just that it seems to me that the way he analysed his choice of property is very different from the majority of buyers - who usually factor in proximity to transport links, amenities and schools.
Perhaps, his exit strategy may include parents wanting to enrol in ACS primary (1km) but seems its kind of a niche demand.
I used to study at St. Margaret's Pri and it was really a long walk up the hill via Sophia Road and even the shortcut to dhoby ghaut mrt is kind of tedious downhill and especially uphill.
Perhaps he will sell his property eventually (even though it may be a loss) and buy a better property with more experience.
Really like your advice on advising young couples to not spend so much on renovation. I feel the same way too! 👍
Good sharing too and thank you for the high praise 🙏
no family aiming to enrol in ACS primary, will put 3 people into a 479 sqft ground floor shoebox.
As wat Josh had mentioned, by time the Condo is available for sale in 4 to 5 yrs time and is way below wat he has paid for, he might not profit from the sale and will be stuck for a while b4 its profitable to do so. If really as a investment tool at tis current high ppty price trend, will be wiser to buy a ppty that can be be lease out to gain some passive income gain in the few yrs while waiting for TOP. N getting a shoebox size condo will limit the customer pool. Hardly seem a worthy investment for tis period
Daniel Heng, 25 is the type of person who knows how to enjoy life even at such a young age. No doubt, his wealth is definitely well below those who buy a resale HDB or invest in stocks.
He prefers to have lesser wealth in his seniors rather than those who have a few millions but never stay in a condo for the rest of their life.
Josh Tan, you must be enjoying life living in your condo.
Actually if the story was he bought a $1m resale condo as a first house now to work nearer to town
And he'd saved up the $250k from his own hard work, didnt need to borrow the 100k...
Affording the mortgage was no problem...
we would all be abit more supportive
Josh, thanks for your good informative advice.
No probs 🙏 share with someone who should see too
came from Daniel’s youtube interview with another property agent … its becos of his $20k income, def no prob … he is young but his orchard Sophia patio purchase is hard to exit in my opinion …
My two cents: Swanky and shoe-box unit doesn’t go together at all. It’s sounds more like those over-priced tiny-weeny apartments that are both hard to live in and hard to sell even for single person occupancy.
Agree with the 100k reno statement 😊
👊🏻
How much is a reasonable figure to spend on reno?
@@MrKendoex Hard to answer, let's just say.. be mindful that renovations are expenses. Money you don't expect to recover when you exit. ie. Can't tell the buyers "you" spent alot on reno and going to price your house higher.
My biggest takeaway from the example in this video is the duality of the insurance industry. I have personally encountered several of such "financial advisors" who profess to have expertise in financial planning, yet the way they live their own lives (living the baller lifestyle after a short period of high income) goes against everything they preach.
I feel that there's something fundamentally wrong about the way the insurance/finance industry markets itself to prospective agents/"advisors".
I really hope he honours his promise of returning the 100k back to his mum with interest. When mortgage payments and other cost kicks in and he is not able to maintain his income, the temptation is there to delay this payment since there is no written obligation. If i were his Mum, i would consider this 100k as a possible "non-refundable".
She may see it as an “investment” too. We never know…
Agreed, but either way, I guess the money will still go to him after parents passed on. So time is the only factor now or later.
Yeah its his purchase of Orchard Sophia that raise more questions about him rather than the abilities of affordability of the condo.
Nearby Sophia condos are already not making much money. Launch prices feels pricy hence the low take-up. It feels like a gated apartment. His mgmt fee will be a bomb cause it is shared with so few other people. Tiny freehold in CCR is plenty.
Guess if he makes money, every other property makes and your trajectory that this is the peak is possibly wrong😊.
Yup. I feel the property agent did a damn good job sia. Sold him a 1st floor unit somemore.
A very successful financial planner meeting an even more successful property agent 😂
@FergusTan Yah lor don't make sense if you buy 1bdr at level 1. Usually, you buy level 1 for more PES area for 3-4 bedders for your kids to run in an enclosed place. That's the differentiating factor vs other levels.
@@FergusTan All garages from top floor will landed on first floor if you have neighbors who loves to smoke on top
Dave Ramsey
U buy the thing u dont need to impress the people u dont like.
Agree
As an investment outlook, its much more possible that his property is not going to make him money.
I think he is too tempted to have a "swanky" image to fit his branding (a expensive and painful one to be).
$1.27M can buy him at least an OCR 2B resale which he can flips faster and get to leave in a bigger place.
Also, this highlight the importance in having responsible property agent. She should have advised Mr Heng that Orchard Sophia would not be a wise investment choice.
She probbaly just wants to close the deal and get the comm. Sadly, many agents are like that.
Wish him all the best
Note: Josh, Edge Prop weekly magazine can be downloaded for free on their website. Why do one needs to subscribe? 😄😄
Good points raised
Subscription is for the entire magazine with all the premium articles 👍
Many are waiting for government free vouchers, how to buy property?
His mom lent him 100k. Rely on parents wealth pui. My parents didn’t even have 100k net worth combined outside their hdb.
Now graduates either go to be property agents and financial agents to buy their 1st property fast. Since he is an undergraduate and in sales with no fixed monthly payroll, how he can secure a loan ?
NOA 2y. Not sure if 6mth statement alone is sufficient
TL;DR: In this video, the narrator discusses a young undergraduate named Daniel Hing, aged 25, who recently bought a condominium unit as his first property. The narrator provides details about the property purchase, including the down payment and the condo's location. Daniel received financial assistance from his mother for the down payment and earns over $20,000 per month as a financial advisor. The video also explores the reasons behind Daniel's decision to buy a condo instead of an HDB flat, his aspirations, and his plans for the property. The narrator analyzes the investment aspects of the property and discusses the potential challenges and speculative nature of the purchase. Finally, the video emphasizes the importance of considering various factors when making property investment decisions.
Top of the game superb analysis .. thank you
Thank you for the high praise 🙏
@@joshconsultancy you are good , have to give credit when credit is due you are simply good honest straight shooter , i salute you
This is the second time I heard young Uni graduate said that MOP cause opportunity cost!
In a bull cycle, it's unfortunately a rush to buy as big as possible
I like how he subtly implied Daniel’s amateur prop investment strategy 😅😅 buy first floor izzit
😅
He jolly well can afford. His 20K pay. Going to increase too.
@JoshTan. You went Ah Liao's tuition too?
Cant remember that’s when I pri6
heng is very bullish about his investment and his career. i hope he has a backup plan since this road he has chosen is very risky. i very much prefer josh's approach in investing
Thank you. Experience helps make good choices
This is the first time I heard ppl spending 1.27 Mil with borrowed money to appear swanky and inspirational. 😅
Oh dear. I watched this video one day later. No more promo for the edge Singapore eh? Can’t apply the promo code.
Should still be available. Input JOSHTES15
At checkout 👌🏻
@jescaho8827 The Edge Singapore just feedback that they fixed the promo code on log in page. Do see if it works - promo code for 15% off - JOSHTES15 k
@@joshconsultancy got it. Successfully subscribed using the promo code. Thanks!
How relevant is the 3-3-5 rule in this case?
Good question. At the mentioned income level, it would pass it.
30% of property downpayment is also a matter of time at the mentioned income level.
Concern then becomes sustaining the mortgage as a self employed
A veteran in the industry would have a base built in to mitigate that risk
Believe he can manage financially but he bought the wrong condo unfortunately. That enclave of condos there are hard to exit and many unprofitable transactions. He likes to present FA as Swanky, Materialistic and Worldly.... at the expense of their clients. What is his purpose of trumpeting this pty purchase ?
I understand where you're coming from and I campaign for the industry to show prudence and put customers first
If this is BUC then he maybe in lucky strike. 😅 If not, mom must have used his name :). Can undergrad qualify to service HNW field? Hmmm
Project is known. BUC
Gen Z are living in irrational exuberance.
wrong to say delay gratification but if u not Pty savvy is fully understood, Different from stock, Pty here , get in early, cash out after top..repeat..each cycle 4-5 years..for age 25, he can do this 5 times to age 50.. the older u wait to enter,,the harder u get Pty loan..specially those after age 45.. by the time u save enough, u failed tdsr due to age 65 loan years
Den stay where?
The above is on the assumption property prices will rise indefinitely
Different from stock? Our ever famous SPY average 10% pa returns for past 100years. 😂
Wow flip property every 4-5years bao jiak? Timing is important & knowledge is the key to success 😊
U forgot about leverage. 20+% upfront payment + amortised small repayments to own a 1M asset (if u do not live in it), which easily gives you 3.5% rental return annually (conservative) and this probably excludes capital appreciation.
Freed cash flow can be further put to work in other equities/bonds. You only stand to gain
Its becos of his $20k per month income, definitely no prob . Good bet when you are young and have your head well screwed on, stupid if you are old, to go all in with little runway.
He won’t listen one. Let him learn his swanky lesson n wake up to sg reality.
Kids nowadays are so optimistic about their future cashflows and less concerned with the downside.
If there’s cash flow, what’s the downside, lol..downside will be those never take action to buy
Anything is possible with mommy's money.
His family is rich lah
He might be lucky to hit his aim ..but posting his story with all his reason and facts at this time will invite lots of conflicts against him ...cos lots of unlogic matters
Earns 20k per month need to borrow 100k? I work part time 500 per month. 6 months I can buy one iPhone liao. He knows how to count Bo.
Agree with you, need to be prudent la. Cannot be you ask your client to borrow money do ILP ma. Every year I get to see this type of "motivational story* 😂😂😂
which fixed interest rates are 3.1 3.2% please?
Sg bank. Double check w a mortgage broker
Warren Buffet is still staying in his $30k house. Hmmm..
I didn’t watch the video but clearly his parents must be rich
Come on ..need borrow parents money to invest own home that is not fully paid is all wrong .. hes carrying a big cost burden .. he need succeeded 1st then post his ability mah ..
Could you pls share the promo code for 15% discount?
JOSHTES15
@DannyKhiew The Edge Singapore just feedback that they fixed the promo code on log in page. Do see if it works - promo code for 15% off - JOSHTES15 k
Maybe he bought the story too.. haha.. btw is this the edge Singapore content?
Video sponsor is The edge Singapore, article story is from yahoo 👌🏻👍
Buying this $1.27 condo just to b swanky to project n image that he is successful to further his financial advisor services, wouldn’t he buy a Ferrari instead? He can’t drive his $1.27 condo….😂😂😂
Again Josh with kind advice using critical thinking
single but in a relationship?! wut?