<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Long wait, but good returns in the end
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Ms Tay made a net profit of S$98,000 on each unit of land she bought - after a 10-year wait. -- ST PHOTO: LIM SIN THAI
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->It took 10 long years before land investor Helen Tay, 38, saw her investment bearing fruit.
In 1998, the former lawyer turned network marketer bought two units of Canadian land from Walton International Group for C$50,000.
Back then, she was told that it would be a five-year wait before the raw land obtained development approval. Another way she could exit her investment was if there was a third-party offer to Walton for the land. As things turned out, it took twice as long.
Luckily for her, her investment was worth the wait because she made a net profit of S$98,000 for each unit of land in June this year, which worked out to an average annual return of 26 per cent.
Last month, she pumped C$38,100 (S$51,500) into three units of Canadian land that Edgeworth Properties was marketing.
She is attracted to Edgeworth as it offers a range of fixed returns if development approval is obtained within specified time frames. After taking into account the capital gains tax, the net annual returns work out to about 20 per cent.
'Edgeworth offers insurance and fixed returns and it is involved in the development process unlike others like Walton where investors have to wait for third-party offers and depend on market sentiments,' said Ms Tay.
Another Edgeworth investor, bank officer Beatrice Loo, 57, who also likes the fact that her principal sum is insured, forked out C$25,800 for two units of land.
Edgeworth was set up in Canada and Singapore two years ago. To differentiate itself from its competitors, it has a development arm, Sonex Construction.
Edgeworth believes that its initial project is on track to receive development approval by next year.
Still, Ms Tay urged investors to do their own research before buying raw land. Lorna Tan
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Ms Tay made a net profit of S$98,000 on each unit of land she bought - after a 10-year wait. -- ST PHOTO: LIM SIN THAI
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->It took 10 long years before land investor Helen Tay, 38, saw her investment bearing fruit.
In 1998, the former lawyer turned network marketer bought two units of Canadian land from Walton International Group for C$50,000.
Back then, she was told that it would be a five-year wait before the raw land obtained development approval. Another way she could exit her investment was if there was a third-party offer to Walton for the land. As things turned out, it took twice as long.
Luckily for her, her investment was worth the wait because she made a net profit of S$98,000 for each unit of land in June this year, which worked out to an average annual return of 26 per cent.
Last month, she pumped C$38,100 (S$51,500) into three units of Canadian land that Edgeworth Properties was marketing.
She is attracted to Edgeworth as it offers a range of fixed returns if development approval is obtained within specified time frames. After taking into account the capital gains tax, the net annual returns work out to about 20 per cent.
'Edgeworth offers insurance and fixed returns and it is involved in the development process unlike others like Walton where investors have to wait for third-party offers and depend on market sentiments,' said Ms Tay.
Another Edgeworth investor, bank officer Beatrice Loo, 57, who also likes the fact that her principal sum is insured, forked out C$25,800 for two units of land.
Edgeworth was set up in Canada and Singapore two years ago. To differentiate itself from its competitors, it has a development arm, Sonex Construction.
Edgeworth believes that its initial project is on track to receive development approval by next year.
Still, Ms Tay urged investors to do their own research before buying raw land. Lorna Tan
