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27-10-2010, 09:34 AM
Thank you Koh_52 san for your valuable advice, it is definitely worth a lot more than 1 cent to me.
You said I need to pay 30% cash, do u mean it must be all cash? I am okay to pay 30% using 10% cash and 20% CPF, but if it must be all cash, then don't need to explore further liao, money not enough. I just visited M bank yesterday and they told me I can use a combination of cash + CPF for the downpayment.
My intention is to buy and rent it out. I don't think my wife will agree to me staying there, just in case I got lost in one of the lorongs
The asking rent in that area is about $2.5 to $3 psf, which means for a 1200 sqft apartment, the rent is about $3K to $3.6K. This is sufficient to service the monthly loan installment, assuming current interest rate. Do you think the asking rent is realistic? Do you know how difficult it is to rent out an apartment in that area?
You said I need to pay 30% cash, do u mean it must be all cash? I am okay to pay 30% using 10% cash and 20% CPF, but if it must be all cash, then don't need to explore further liao, money not enough. I just visited M bank yesterday and they told me I can use a combination of cash + CPF for the downpayment.
My intention is to buy and rent it out. I don't think my wife will agree to me staying there, just in case I got lost in one of the lorongs
The asking rent in that area is about $2.5 to $3 psf, which means for a 1200 sqft apartment, the rent is about $3K to $3.6K. This is sufficient to service the monthly loan installment, assuming current interest rate. Do you think the asking rent is realistic? Do you know how difficult it is to rent out an apartment in that area?