Hi Lionel,
You are in a good financial position to invest in properties and now is an ideal time to start looking as there are strong signs that prices have bottomed out with the diminishing of existing inventory.
For your budget, I would recommend that you allocate 1.5 mil to a 3 bedroom unit and 1 mil to a 1 bedroom unit. The 3 bedroom should be a city fringe location whereas the 1 bedroom should ideally be within CBD or very near CBD.
With an exit strategy of 5 years, you should be mindful that you need to buy in an area with transformation or major developmental plan which may materialize in the next few years. The entry price or PSF price cannot be too high as it may deter your buyers a few years down the road.
As to whether is it freehold or leasehold, personally I feel it is secondary as you are looking to exit within 5 years, as long as the development is not too old, you are generally fine. However, the development must be ready or almost ready to rent out so that your cash flow can be taken care of and most importantly, there must be an existing catchment area to attract potential tenants.
In this way, your rental (passive) income is secured while you wait for the capital appreciation.
I have assisted investors to set up their property portfolio by highlighting to them the developments which has got upside potential.
Please feel free to contact me so that I can understand your objectives better before I can make some informed recommendations!
Regards,
Nick Tan
(M)
+65 9644 4854
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com
Testimonial from Satisfied Clients (2016/2017)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)
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