AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
I am 67 years old and therefore would not be eligible for a "proper" bank loan. I am contemplating obtaining an overdraft from my bank and use the funds to pay for the purchase of a condo. Would it be possible to claim the interest payable to the bank as a deductible from any rental income for the property concerned?
0 •
1062 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

6 Answers

Geryl Lim
Replied
Dear sir,

I would advise against that unless you have other sources of income to support. Perhaps the best person you should speak to is a banker on giving your solutions. If you do have some spare cash on hand for investment, why not consider foreign properties with relative lower quantum and downpayment? Some projects will also gurantee you rental returns for the next couple of years. My team at Masters of Real Estate will be holding our inaugural international property show this weekend, featuring 7 foreign projects from US, France, Melbourne, Philippines to KL, Malacca and Iskandar. Quantums start as low as $70k range. Event is at Hilton hotel and we are expecting a huge turnout for this event. If you are keen to explore, please let me know such that I can get you a ticket.

Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com
Facebook: https://www.facebook.com/propertyblogshop

Dynamic Alliance Group @ www.DAG.com.sg
Home of *7772 Hotline
We Sold More Than 100 Landed Homes
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now!

**Aspiring to be your preferred partner in real estate**

Catch our next landed homes sales exhibition in September 2013. Register your interest to attend this function with me now! Read More
0
Upvote Upvoted
  • HA
    Replied
    Thank you very much for your kind response, Mr Lim. I will consider very carefully your comments. Best regards, H T Au.
Able S.K Toh
Replied
WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856-9255  or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856-9255 

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助，
包括出租、出售、购买或投资，
欢迎联系我。

✔✔ ABLE TOH/ 诗强（65）9856-9255
WhatsApp：https://wa.me/6598569255

✔✔✔查看我的客户评价：
Able S K Toh
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表，
欢迎随时联系。

✔✔ 新加坡联系号码（ABLE TOH）/ 诗强：（65）9856-9255
✔✔ 电子邮箱：Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More
0
Upvote Upvoted
Able S.K Toh
Replied
WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856-9255  or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856-9255 

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助，
包括出租、出售、购买或投资，
欢迎联系我。

✔✔ ABLE TOH/ 诗强（65）9856-9255
WhatsApp：https://wa.me/6598569255

✔✔✔查看我的客户评价：
Able S K Toh
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表，
欢迎随时联系。

✔✔ 新加坡联系号码（ABLE TOH）/ 诗强：（65）9856-9255
✔✔ 电子邮箱：Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More
0
Upvote Upvoted
Able S.K Toh
Replied
WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856-9255  or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856-9255 

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助，
包括出租、出售、购买或投资，
欢迎联系我。

✔✔ ABLE TOH/ 诗强（65）9856-9255
WhatsApp：https://wa.me/6598569255

✔✔✔查看我的客户评价：
Able S K Toh
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表，
欢迎随时联系。

✔✔ 新加坡联系号码（ABLE TOH）/ 诗强：（65）9856-9255
✔✔ 电子邮箱：Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More
0
Upvote Upvoted
Able S.K Toh
Replied
WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856-9255  or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856-9255 

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助，
包括出租、出售、购买或投资，
欢迎联系我。

✔✔ ABLE TOH/ 诗强（65）9856-9255
WhatsApp：https://wa.me/6598569255

✔✔✔查看我的客户评价：
Able S K Toh
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表，
欢迎随时联系。

✔✔ 新加坡联系号码（ABLE TOH）/ 诗强：（65）9856-9255
✔✔ 电子邮箱：Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More
0
Upvote Upvoted
Able S.K Toh
Replied
WhatsApp me at >> ✔✔9856 9255 or through this link.:https://wa.me/6598569255.

-----------------------99Years------------------------999Years---------------------->>>

IF YOU NEED more assistance with PROPERTY matters such as RENTING, SELLING, BUYING, or INVESTING, I’m here to help.

WhatsApp me at ✔✔ ABLE TOH (65) 9856-9255  or via this link:

https://wa.me/6598569255

Unfortunately, this platform does not allow direct contact, but you can easily reach me on WhatsApp.

✔✔✔You can READ my REVIEWS here:Able S K Toh

https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

For PRIVATE HOME BUYERS

✔✔ I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge

✔✔ Most PRIVATE seller agents are willing to share commission with buyer agents

DEVELOPER SALES TEAM

✔✔ BEST PRICES ✔✔ NO AGENT FEES

✔✔ LOWEST PRICE GUARANTEED

For UPDATED INFO, E BROCHURE, FLOOR PLAN, and PRICE LIST for New Launches Condominium in Singapore, contact me directly.

✔✔ Connect Singapore Line (ABLE TOH): (65) 9856-9255 

✔✔ WhatsApp: https://wa.me/6598569255
✔✔ Email: Able.selling@gmail.com

---///------
CHINESE VERSION // 中文版本

如需房产相关协助，
包括出租、出售、购买或投资，
欢迎联系我。

✔✔ ABLE TOH/ 诗强（65）9856-9255
WhatsApp：https://wa.me/6598569255

✔✔✔查看我的客户评价：
Able S K Toh
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

私人住宅买家服务
✔✔ 协助转售及新私人住宅
✔✔ 买家无需中介费

发展商销售团队
✔✔ 最优惠价格
✔✔ 无中介费
✔✔ 保证最低价

新推出私人公寓资料、电子手册、户型图及价格表，
欢迎随时联系。

✔✔ 新加坡联系号码（ABLE TOH）/ 诗强：（65）9856-9255
✔✔ 电子邮箱：Able.selling@gmail.com

--------------- 结束 / The END ------------------ Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions