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I currently have an old semi detached house with land area of 3300 sqft. The plot ratio for my place is 1.4, so I am able to build up to 5 stories. My question is would it be possible for me to build a new house with 4.5 levels and convert the 3rd & 4th levels into 2 studio apartments each on each floor? then sell those studios for a lease term of 25 years? This will help finance the build of the house, which is estimated to be around $1m. I am looking to seel those studio apartments for ~$450,000 each which can easily yield a rent of 3k per month for the next 25 years. so definitely beneficial for investors. do you guys think this is a good idea? would it be possible to do such a project?
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1 Answer

Yian Tay
Replied
Mckenzie, its not hat simple. There are some new guidelines for property developers, and you will need to setup a company with a fairly substantial paid up capital, a possible suggestion is to redevelop the property as a semi-D and then sell it off.

If financing is an issue you may wish to work out a deal with a small time property developer to see how this deal may be struck. I have some contacts, I can't promise you anything as yet, as the info you've given here is limited, but we can try to pitch it.

Perhaps you can contact me.
Cheers,
Yian Tay
B.Com (banking and finance), Pgdip (ecommerce & emarketing)
ERA Realty Pte Ltd
CEA Regn No - R027190C
Email: yiantay.era@gmail.com
Mobile: 81003493  Read More
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