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Hi,

Currently 31 yo single.
- Staying with parents and plan to do so for the next 5 years
- CPF OA: 90k
- Cash avail: 30k

1. Possible to buy a condo (1 or 2bd) and rent out immediately, collecting rents after 4 years till SSD is over and refinance?

2. Consider after 35yo to get a HDB resale after selling above.

Contemplating on whats the best approach for me currently.
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4 Answers

Hello! I am Denice from PropNex Realty Pte Ltd. It is pleasing to note that you are considering moving into property investment. You are currently at the right age to begin investing in property! I'm currently also serving a young single buyer like you. I'd love to be able to assist you in your search as well. Feel free to contact me at 93855005  :)
Cheers! Read More
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Robbie Chen Chee Howe
Hi,

Based on your available funds of $120k ($90k+$30k) for downpayment, the maximum property price you can purchase is about $480,000. This is exclusive of the Buyer Stamp Duty you will need to pay, which works out to $9,000 for a $480k property.

In today's market, it is hard to find a good private residential property that sells below $500k. Perhaps you might wish to find someone to co-invest with you? Or if you're open to non-residential properties?

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Dear Sir/Mdm,

From the information that you have provided, it seems that you are in a good financial position to purchase a 1 bedroom unit for investment before you proceed to purchase a resale HDB when you are eligible.

You can consider a 1 bedroom condo which is below 600k. There are several options in the market and if you were to purchase those that are under construction, your outlay will be lower which means that your ROI will be higher. When the project is completed 3 years down the road, you can sell it off for a profit and use the profit to purchase your resale flat without the need to pay any Seller's Stamp Duty.

Please feel free to contact me so that I can draw up a plan for you and also share with you more on the projects that have upside potential.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

I have written a guide to buying Residential Property:
http://bit.ly/buypropertyguide
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