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Hi, I need some advice about the financial aspects on property investment. Intend to purchase a condo unit to lease. My monthly gross salary is about $5600 and I currently have about $80k in my cpf + another $80k in cash. What is the budget that you would recommend?
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1 Answer

Ken Tan
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Hi,

For cash upfront, you would need to come up with 20% as bank only loan at 80% of valuation. Besides that, you have to come up with the stamp duty of around 3%, (3%-$5400).

This means your maximum allowable would be $700k - $800k. You might want to target smaller units with smaller quantum. You might want to target newer developments as this will also help you to leverage on the progressive payments as well.

Easier to cover mortgage with rental.
Easier to manage your mortgage loans.

Feel free to contact me and we can try to see what we can work with.

Cheers,

Ken Tan
 96461490 
ken_tankw@yahoo.com.sg Read More
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