Talking about Investing in Property

This week I was talking to a colleague about property investment, he shared that he owns a condo, his wife also own a condo, he also owns 3 industrial property i.e. office space.

I was wondering how he got so much cash to buy so many properties, he told me he took loans, I still can't wrap my head around it, no matter how he explained there seems to be a lot of cash involved but I didn't ask too much, good for him to be able to get into property investment.

One thing special is he didn't buy HDB flat, then he shared that once a person owns a HDB flat, the second property would require a 20% ABSD, it's like an additional amount to pay on top of the selling price, which is a lot of money.

He did mention some sacrifices he have to make, I guess that would explain a bit.

For me I'm out already, first I don't have so much cash, second, next year getting BTO with parents so even if I want to buy a condo, the 20% ABSD would render it impossible.

Good for him la, for me difficult, single income, but we simple life, can only hope I can win Toto or my bet on Crypto turns out well.

Sigh, work work work.


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