Chitchat Dear ginfreely, I just realized that there is a good chance you are a Millio

[Sammyboy RSS Feed]

An honorable member of the Coffee Shop Has Just Posted the Following:

31-07-2016, 06:57 PM
sammyboy.com/showthread.php?233622-After SGH, another case of nurses don't follow protocols at CCK polyclinic. Huat ah!&p=2487322#post2487322
Quote:
Originally Posted by ginfreely
I never buy hdb in my life, never get a cent of hdb subsidy in my life. I buy condo rent out also to high income expats. High class enough?


Quote:
Originally Posted by ginfreely
And my high income generating condo was bought for much less than 500k. ... Don't look down on people. Last time poor doesn't mean always poor. So proud of my achievement that was done without selling body or soul unlike my barbarian MALAYSIAN Chinese mistress neighbour. Lol


Quote:
Originally Posted by ginfreely
haha hahaha Spore condo bought two decades ago. ... Btw bought it with salary less than 3k per month maximum loan. I got guts ... Hahahah.


I'm guessing that you bought that condo unit of yours back in the late 1990s (when you were in your mid or late 20s, since you've mentioned before that you were born in the early 1970s) for, let's say, S$400,000. ;)
And I'm guessing again that you finished paying off your mortgage some years ago, right? ;)
Wherever in Singapore that condo unit of yours is located, its current market value should be at least roughly S$ one million, right? ;)
Furthermore, you are still collecting rent every month from "high income expats", right? ;)

So if your:
wikipedia.org/wiki/Primary_residence
is still your parent's HDB flat (i.e. the address on your NRIC, unless you managed to change it to an address of one of your friends living in Singapore or even your JB address, if that's possible), then unless I'm mistaken, your condo unit would be considered an "Investment Property":
investopedia.com/terms/i/investment-property.asp
which would be included as part of your overall net worth (which usually excludes your "primary residence"), right? ;)

No wonder you are so "proud" of your "achievement" and consider yourself so "high class", right? ;)
Unfortunately or "unfortunately" for you, that's only if you compare yourself with those whose financial net worths are lower than yours, right? ;)

Anyway, as the saying goes:
wikipedia.org/wiki/Cash_is_king
investopedia.com/terms/c/cash-is-king.asp
so if I were you, I would try to sell that condo unit of yours as soon as possible, move back to Singapore and "downgrade" to a HDB flat. ;)
And of course, sell (or try to sell) your JB house. ;)

Finally, please stop thinking (let alone boasting) that you are "high class"! :rolleyes:
You are really and simply not a member of the true upper class, whether you are living in Malaysia or Singapore.
In Singapore, if you are truly a member of the Sinkie upper class, you would be able to own at least one so-called "Good Class Bungalow" (i.e. land area of at least 15,000 sqft) in Singapore:
goodclassbungalows.com.sg/about-gcb
propertyguru.com.sg/singapore-property-listing/property-for-sale?sort=price&order=asc&limit=30&market=resident ial&property_type_code%5B%5D=DETAC&property_type_c ode%5B%5D=LBUNG&property_type_code%5B%5D=BUNG&prop erty_type=L&minsize_land=15000&tenure%5B%5D=F&with_photos=1
that would cost you well over S$ ten (or even nearly twenty) million (which you would be able to pay for in full at the start of your ownership), and you would still have millions of S$ cash left to spend or invest in other things.
Furthermore, unless I'm mistaken, only Sinkie citizens are allowed to buy landed property in mainland Singapore.
Even the super-rich PRs are only allowed to buy condo units (and landed property in Sentosa, unless the rules have changed).


Click here to view the whole thread at www.sammyboy.com.