hentamkings

Hi propertysoul, Thank you for sharing. I read through your blog and there are defintely things to learn from there. for a case when you have an agent to assist you in finding a tenant and the tenant has a agent as well, do you have to pay commission to both your agent and the tenant agent? I think most of the people do not mind getting an agent (and paying what is due) to get the tenant considering the hassle and time involved. But I think many has met agents who are less than professional or responsible and thats why some prefer to DIY. From your sharing and your blog, you seem to have find a nice agent who is thorough and look after your interests. If you do not mind, would you be able to share the contacts of your agent?

Hi GoalHome, Thank you for sharing. I heard of alot of stories about agents disappearing. I guess thats why CEA was finally set up in the end. When you did it DIY, do you mind sharing the lawyer cost for it? Thank you.

Hi karenmcgraw, thank you for pointing out another option possible. in option a, I understand that if you appoint an agent for this transaction, he/she will handle everything from sourcing of tenant, use the agreement (from CEA) and then execute it. The tenant would then have to get pay the stamp duties for it. in option b of using the lawyer, im cutting off the agent totally. so I would have to source for tenant, show them. after agreeing, I have to get my lawyer to prepare the agreement. thereafter both tenant and owner go to the lawyer office to sign it. and again tenant have to pay the stamp duties (if im not wrong). for option a, i understand (i may be wrong) that the agent would charge me 0.5 to 1 month of rental as their commission. So i am trying to see if using option b is more financially prudent. like for example, using a lawyer for the sale of private property is usually about $2-$3k. Please share your thoughts if you could. thank you.

therat, Thanks for sharing. the 3 part idea sounds like an option too. only that most likely i wont have enough to split into 3. hahaha.. may not even have enough for 1st part. but must try to work towards it. no plan means wait for the "someone" to lose your money in some overseas investment.

blue_skies and bepgof, Thank you for your valuable insights. Its pretty true that in the 2nd option, you would lock up quite an amount in the ordinary account (though earning you some interest) just to make sure you can keep using the CPF. After seeing more views and dicussion, I am more inclined towards option (1) but I am really far from the plan. need to work more donkey years! I dont enjoy the fact that you have to pay back CPF the "interest" earned if you have not taken out the monies from the ordinary account for your property (i mean it is money earned by us in the 1st place). its ok to pay back the amount you take out from the ordinary account, but not the interest. On to another question, if you have fully paid up your current residential property and is in the mid 30s. would you consider saving up to invest in 2nd property (for passive income) or just keep the savings in cash, or invest the cash in other area (for passive income)?

blue_skies, Thank you for sharing your view. bepgof, Thank you for sharing as well. lets say the 2nd property is around the price of 1-1.5m. Hi, I have asked this somewhere else and the only 2 respondents also chose option (1). the 2nd option was an idea that u could keep on using CPF to pay the mortgage for the 2nd property. in the 2nd option (assuming you keep working), then you can use the monthly contribution into your ordinary account to pay off the mortgage of the 2nd property. this is not possible in the 1st option unless you accumulate the amount in the ordinary account (half of minimum sum) again. Please do share your view on this as I believe that different people have different considerations and different choice would suit different people better. Thank you. ps: are most of us having concerns how "people" are losing our money in cpf?

Hypothetical Case: You currently only own a private property with outstanding mortgage at $50k and you have CPF of about $80k ($50k in ordinary, while $30k in special account). You intend to redeem the mortgage by paying off the outstanding mortgage of $50k (so that when you purchase the 2nd property, you could take up a loan of up to 80/90%). Also, currently you have $200k cash (which you do not intend to purchase any form of securities) and you are intending to purchase a 2nd private property when the time is right. Would you:- 1. Use the $50k in your CPF ordinary account to fully pay off the outstanding mortgage; or 2. Use only $10k in your CPF ordinary account and $40k cash to fully pay off the outstanding mortgage. Note(1) : You took up this option (2) as you want to use CPF to pay the monthly mortgage of the 2nd property. For this option, your CPF would be left with $70k ($40k in ordinary, while $30k in special account) in your CPF to meet the requirement of half the minimum sum ($65.5k i.e. half of $131k) being pledge being you could use your CPF monies for the 2nd property. Note(2) : CPF states that you must first set aside half of the prevailing Minimum Sum (currently $131k) before you can use the excess CPF savings in your Ordinary Account for the second and subsequent properties. Savings in the Special Account (including the amount used for investments) and Ordinary Account can be used to meet this required amount. Assumptions for the above case: • ABSD does not affect you • picture a time when the property market is pretty neutral (not overheat or overcold) • by using the $50k in the ordinary account in option (1), you still does not exceed the valuation limit given by CPF for the 1st property. Please chose either 1 or 2 and give your reasons if possible. Thank you.

Hi, If you have a private residential property that you are renting out, would you prefer to use the service of a property agent (to settle the whole arrangement) or would you engage a lawyer (to settle the documentation and legal stuff, while you have to find the tenant yourself)? and why? Does anyone have an idea of the fees/cost/commission if you use (for the above): i. property agent; or ii. lawyer.

Hi, if possible, it would be good if the moist air is thrown out into the open. letting moist air circulate within the false ceiling may not be so good. I have seen ceiling exhaust fan getting moist with mould before and spots (looks unhygenic). though ceiling type looks better, it would be a healtier choice to use the one on the window if possible.

Hi, from the wordings, it seems like if your tenant make a request to you by Dec 2011 to extend the lease for another year, you have to say yes. also the rent amount is to be decided by the prevailing market rent (which i guess can be adjusted up or down and not fixed based on current rent). also the wordings seems like if tenant want to continue to rent, you have no choice but to say yes subjected the the final deciding factor: the rent amount. i may be wrong and i strongly suggest you check with your lawyer (the one who help you with the sale) and ask them for a favor to explain this clause.

Hi bro, Need to seek your advise on downlights. I been using downlights for almost a year. A few months back, whenever I switch on some of them, they would give off a humming sound. Sometimes the sound is obvious, sometimes it is not. What is the problem? Do I need to change the ballast or something? Thank you.

this is like some hotel toilet design where they have ventilation fan and then the 24/7 air conditioning to make the toilet dry. but personally, toilet without windows are not really recommended. try to work with your ID if you can work on ventilation fan via false ceiling (heard some did this before. downside though is the sound of the fan humming.... hope you could share on your final solution as well. thank you.

Hi Christian, Thank you for your answers. Could you define your idea of partial? I read up a few websites and partial = with furniture, but without appliances. and full = everything is there for any person to move in and stay.

Hi All, Are the following 3 any good:- 1. Wharfedale DX-1 sub-woofer and satelite speakers 2. Cabasse Alcyone sub-woofer(Santorin 17) and satelite speakers 3. Minx sub-woofer(X200) and satelite speakers (Min 10) Everyone is welcome to share. Thank you

Thank you ZondaR and Warrior. Warrior, I guess you should have come across a few tenants. Do they usually want it unfurnished(everything is in there except furniture and applicances)? Thank you for highlighting on the income is actually 10 months, which is very true. Not to mention the possible problems that you may face with the tenant. Is 3% yield good enough for you or what yield is considered satisfactorily? on this yield thing, there are recent news and discussions that the yields are pretty low nowadays because the purchase price was high. Any thoughts?