Saturday, August 6, 2011

Updates on my 1st Investment Property

Hm.. prices shot up like nuts already. I've gotten several offers to buy it off my hand and have finally accepted one - hey, if the market is so eager and chasing things higher, who am I to stand in the way yar? :P

Anyways, IMHO, back to basics.
When the market is crazy, high on fumes and is willing to pay dearly for stuff, i sell.
When the market is crazy, manic depressive and is willing to discount heavily to get rid of stuff, i buy.

Works well in the long run without crystal balls.

4 comments:

  1. How much percentage gain you managed to make? Before all the expenses like lawyer fee, bank penalty fee if close the loan earlier.

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  2. @Kris
    er.. i tracked "inclusive" of all expenses, rental received, mortgaged paid, etc. It's about 33.09%pa compounded net returns.

    Note:
    No penalty from loan for selling off within the locked-in period (thanks to ING :P).

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  3. Ah..are you using the fixed interest rate package from ING??
    So far only insurance companies are offering this type of package.

    Yup..33.09% is quite good. 10% gain is just to small nowadays to take up the risk for uncompleted units.

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  4. Heheh - i'm way too chicken to risk off-the-plan properties for investments.

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