sounds like this elderly couple has a backstory which they didn't share. Not sure if they really thought that future prices will crash but landed ppty costs alot of money to maintain versus the low SCC for HDB, not to mention climbing stairs, cleaning the house and inconvenient location. And family conflicts or dynamics that made them downgrade so drastically. There is alot more to story which suggests why after all the planning done by Eric, they decided not to do anything.
Good video. For those that are curious, the wife can take up the mortgage loan without any income because of the family's free cash. The wife can show funds to the banks - once during application and once during disbursement using the pledged/unpledged method.
Some parents not only gift kids house(s), but also teach them property investment lessons. That's ideal - an excellent starting point (the house/houses), AND also how to grow their assets!
If all the adults are working, and earning good incomes, the landed property sell already and divide into 3 shares. Each child gets abit and it will help to pay down payment for 3 properties. And the monthly mortgage to be serviced by each child for their own property.
The real reason is they believe the property market will crash and they will go in then. If they buy now, means they admit they were wrong and stupid to sell back then to stay in hdb to wait for downwards cycle.
Is the growth mindset to be solely based on property investment? What if they grow their business and create local employment which is generating true economic value for the country instead of thinking purely of using economic rent mentality to get ahead of others.
Eric’s clients mainly focus on working class / hdb upgraders. His clients usually dont consist of businessman. So as u work, u build another type of wealth through property investment
I only know a friend who kept moving house from HDB to condo to landed to rental to HDB. I lost track where they are now. I think her husband became a real estate agent from running a tuition centre.
@@savvyericchiew yup.. but if looking from the couple's angle, it could be because they are old and wanted to retire comfortably with more cash on hand. Therefore they do not want to purchase another property again even though your strategy is good for them to generate income.
@@LeeLee-bo4ly They came to me because they kept complaining that their HDB is too small to live in. If you don't want to buy a bigger place then don't complain. It's simple :)
Even if property market crashed, you will only lose money if u sell, with land so scarce in Sg,it will recover with time. Selling n hoping to buy back in when landed property crashes is a bad strategy proven by this content. In Sg,one has to buy FH if u can afford it.
No, it is not the same. Freehold landed is yours to see. Land and house all yours. Strata landed is not all yours. House is yours. Land is everyone share share. Never buy strata landed, worse than FH condo in prime D9, D10, D1.
The kids are already working age. Let them earn their own way if not they will only learn dependence and spoonfeeding. Singapore had too much good times, and that breeds weak young people. Those old citizens have too much money and too little common sense. Too much easy money makes one stupid.
Indeed a very tragic story. This couple got lucky and made their first pot of gold by buying their freehold landed (at "dirt cheap" price decades ago) and blew it.. I'm sure 2 dislikes in the video are from them 😂
Thanks for sharing. This is a warning story. You can never time the property market
sounds like this elderly couple has a backstory which they didn't share. Not sure if they really thought that future prices will crash but landed ppty costs alot of money to maintain versus the low SCC for HDB, not to mention climbing stairs, cleaning the house and inconvenient location. And family conflicts or dynamics that made them downgrade so drastically. There is alot more to story which suggests why after all the planning done by Eric, they decided not to do anything.
Good video. For those that are curious, the wife can take up the mortgage loan without any income because of the family's free cash. The wife can show funds to the banks - once during application and once during disbursement using the pledged/unpledged method.
Yes exactly!
It is really a sad story. Thanks for sharing!
🙏🏼🙏🏼
Some parents not only gift kids house(s), but also teach them property investment lessons. That's ideal - an excellent starting point (the house/houses), AND also how to grow their assets!
That’s good lessons from parents
Those fortunate kids….
If all the adults are working, and earning good incomes, the landed property sell already and divide into 3 shares. Each child gets abit and it will help to pay down payment for 3 properties. And the monthly mortgage to be serviced by each child for their own property.
It's a good teamwork to create wealth as a family! 👍🏼
The real reason is they believe the property market will crash and they will go in then. If they buy now, means they admit they were wrong and stupid to sell back then to stay in hdb to wait for downwards cycle.
Can share that Which FH condo @ $1.6 mil that you are referring?
Is the growth mindset to be solely based on property investment? What if they grow their business and create local employment which is generating true economic value for the country instead of thinking purely of using economic rent mentality to get ahead of others.
Eric’s clients mainly focus on working class / hdb upgraders. His clients usually dont consist of businessman.
So as u work, u build another type of wealth through property investment
Buy 1 freehold condo for each children , divide the money into 3.... the remaining, ask the children to settle them.
Comment if you know anyone who did this too! 😊
I only know a friend who kept moving house from HDB to condo to landed to rental to HDB. I lost track where they are now. I think her husband became a real estate agent from running a tuition centre.
Good video and sharing.. but the ending is sad because the couple chose not to do anything despite having extra cash.. sighs.
Yes exactly! With $2.75 million and with investment skills, one can make at least another million! Or at least buy 1 property.
@@savvyericchiew yup.. but if looking from the couple's angle, it could be because they are old and wanted to retire comfortably with more cash on hand. Therefore they do not want to purchase another property again even though your strategy is good for them to generate income.
@@LeeLee-bo4ly They came to me because they kept complaining that their HDB is too small to live in. If you don't want to buy a bigger place then don't complain. It's simple :)
@@savvyericchiew I think HDB these days can be bigger than some condo units. I know an owner who sold their landed but rented a condo.
@@savvyericchiew What other investments are you referring besides buying a property? The Stamp Duty is a deterrent.
Even if property market crashed, you will only lose money if u sell, with land so scarce in Sg,it will recover with time. Selling n hoping to buy back in when landed property crashes is a bad strategy proven by this content. In Sg,one has to buy FH if u can afford it.
Holding power is important
Eric, is a freehold landed cluster house with facility worth the same as the freehold strata landed homes?
Both are strata, it is the same (no good). Freehold landed is the best (in terms of value)
No, it is not the same.
Freehold landed is yours to see.
Land and house all yours.
Strata landed is not all yours.
House is yours. Land is everyone share share.
Never buy strata landed, worse than FH condo in prime D9, D10, D1.
说的太好了
谢谢你! 您认为中文版对更多人有帮助吗？
It’s so weird... WHY did they even choose to downgrade????
They want to cash out their landed first and hope landed price drop so that they can enter and profit again. Sadly that is the biggest mistake.
@@savvyericchiew I guess nobody expects property prices hit the roof even with Covid.
Best time to buy property is during Crisis.
The kids are already working age. Let them earn their own way if not they will only learn dependence and spoonfeeding. Singapore had too much good times, and that breeds weak young people. Those old citizens have too much money and too little common sense. Too much easy money makes one stupid.
eric bro, how to find good mentors?
Eric bro is the best one 🤣
It should be 3 Kids save $ and buy landed for his dad. Their parents spent so much for raise up 3 of them, so they should buy for their parents…
Haha this is good idea too! 👍
Sibeh guai lan ask for LAnded property 🤣🤣🤣
😂😂
Indeed a very tragic story. This couple got lucky and made their first pot of gold by buying their freehold landed (at "dirt cheap" price decades ago) and blew it.. I'm sure 2 dislikes in the video are from them 😂
Wahaha!
like 富不过三代... 🥲🥲🥲🥲
😥
Don't stress the bloody old age parents lah.
It's ok not to do anything at this age but don't keep complaining about the size of their HDB and concerned about the lease decay.
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ehhh ehh dont eric leh eric leh... how u got her to get loan with no income?! hahahah
It's a secret shhhh 🤫
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