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Hi Gurus

I currently live in a fully paid up condo and am looking to buy a second private property for investment purpose. I need some advice on the price range I should look at based on these info : 41yo, single, OA ard $40k, cash on hand ard $100k, salary $65k pa.

One more Q : I've heard of cases whereby owners use their existing properties to finance new purchases. May I know how this works actually ?

Thanks a lot in advance for your invaluable advice.

Cheers.
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3 Answers

Barry Barnabas Chan Kwang Seng (曾冠盛）
Replied
Hi,

Please feel free to contact me for further discussion.

Regards,
Barry Chan
ERA Marketing Director
ERA Realty Network
Mobile:96982726
Email: barry-chan@live.com
Website:www.homz.myweb.sg Read More
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Bernard Pavlica
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Base from your regular income to substains your new loan, it range up to approximately $2000 per month. You can borrow higher loan amount if you'd rented out one of your room, earning a regular rental income, etc.
Base on your age, i take into consideration that the loan term as 20 years(Flexible).
Interest rate (SIBOR) is approximately 1.57% now.
You can purchase a new flat up to $800,000 with the amount of cash you had on hand.

Refinancing your existing flat with a bank allows you to have more cash on hand, something like "mortgaging" your home with the bank and pay them monthly instalments again.

If you've further doubts, you can just give me a ring, no obligations. =)

Bernard Pavlica
900-22-018
Associate Team Director
Propnex Realty Pte Ltd Read More
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Stanley Lee
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you need to purhaces old appartment to get 800k private property . unless your do not mind 99yr condo . Find a banker for the loan amount to check on the financial status Read More
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