Only 39 and Owns 3 Properties Already Woh!

[makapaaa]

<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>June 21, 2009
me & my money
</TR><!-- headline one : start --><TR>Penchant for property pays off
</TR><!-- headline one : end --><TR>Astute couple aim to pay off their three mortgages in eight years and retire in their 50s on rental income </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Lorna Tan, Senior Correspondent
</TD></TR><!-- show image if available --></TBODY></TABLE>




<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->
Like many Singaporeans, Mr You Der Chin has a penchant for property and, indeed, his investment in real estate has borne fruit.
'All the properties I invested in have appreciated in value and given me and my wife good rental yields over the years,' said Mr You, 39, the vice-president, treasury and market risk, group operations and technology, at OCBC Bank.
He and his wife, Ms Winnie Tan, 38, did their sums on what properties to invest in soon after they graduated from the National University of Singapore (NUS) in 1995. They met at NUS and got married in 1998.
He favours property located near international schools and MRT stations.
The couple currently own three properties; two are residential and the third commercial. They plan to pay off all three mortgages in eight years' time.
'In 10 to 20 years, our properties will be our safety net and we can ride on the rental income,' he said. He prefers property investments as land is scarce and there is no need to monitor them as tediously as stocks and unit trusts.
Before Mr You joined OCBC in 2005, he was a senior consultant with an IT consulting firm helping banks to implement their treasury systems.
His wife runs a Kumon educational franchise in Clementi. They have a son, Wayne, 10.
Q: Are you a spender or a saver?

I consider myself a saver. My family saves 40per cent of our combined monthly income, spends 35per cent on our mortgages, 10per cent on insurance and investment, and the remaining 15per cent on miscellaneous expenses.
Q: How much do you charge to your credit cards each month?

I charge around $2,000 each month and pay off the full amount each month. I withdraw $150 a week from the ATM.
Q: What financial planning have you done for yourself?

The bulk of our family's investment, approximately 70per cent, is in properties. The average rental yields we receive from the properties amount to around 10per cent. Our other investments include 5per cent in unit trusts, 5per cent in blue-chip stocks like OCBC and SingTel, 10per cent in life insurance and another 10per cent in endowment funds.
My life cover is about $200,000. I also participated in OCBC Bank's Employee Share Purchase Plan (a savings-based share ownership plan) in 2006 and I managed to make a profit of a few thousand dollars at the end of the two-year period.
Q: Moneywise, what were your growing-up years like?

I grew up in a middle-income family comprising my parents and two younger brothers. From a young age, my mother instilled in us a sense of thrift and how we must spend within our means.
My father owned a provision shop at the void deck of an HDB block in Queenstown and we lived in a three-room flat above it. He had no workers so we kids helped out.
I started doing that when I was seven. It was a lot of work, long hours with low profit margins. My mother is a housewife and also helped my dad out in his shop.
Q: How did you get interested in investing?

My first foray was the purchase of a life insurance plan during my National Service. Having majored in economics at NUS, I developed an interest in equity markets. However, being risk-averse, I am always looking at longer-term investments that are relatively risk-free and stable.
Thus, I monitor only blue chips with long-term potential. I have since also moved on to properties, which I feel are safer investments in land-scarce Singapore.
Q: What properties do you own?

In 1998, we bought a two-bedroom, 1,200 sq ft freehold condominium unit near the Canadian International School in Toh Tuck for $500,000. Its rental yield is more than 5per cent a year. We also own a double-storey, 2,300 sq ft terrace house in Hillview, which we bought for around $1.3million in late 2007.
Q: Home is now....

The terrace house in Hillview.
Q: What's the most extravagant thing you have bought?

The house that we currently live in is by far our most expensive investment.
Q: What's your retirement plan?

We plan to be debt-free in eight to 10 years' time and to retire in our 50s. Based on our estimates, we will need to have a passive income of $6,000 a month in order to retire comfortably and be able to travel as often as we like.
Q: I drive....

A silver Toyota Altis. [email protected]

 

[makapaaa]

<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>Best And Worst Bets
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>




<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->Q: My worst investment to date...

In the mid-1990s, I invested in a club membership thinking it would appreciate in value.
However, the price tumbled drastically during the 1997 economic crisis.
I sold it at a loss of more than $10,000 in early 2001.
Q: My best investment to date...

My best investment is a 2,500sqft commercial unit in the Bukit Timah area.
We bought it in 2005 for more than $300,000.
Located near a potential MRT line near Ngee Ann Polytechnic, the unit is rented out to a kindergarten.
It was last valued at nearly $1million in the middle of last year.
The rental yield is more than 10per cent per annum.
We liked the area and surveyed it for a long time, starting in 1997, so we knew it was a good price when the unit was up for sale.
We were confident then that we could obtain a school licence for it. The unit is now split into four classrooms.

 

[myo539]

While some Sporeans are ambitious and work hard to realise their dreams, there are others who can just whine and whine and be jealous of what other people have achieved. These are the modern eunuchs of Singapore some of whom dwell in kopitiams.

 

[cass888]

Communist mole of the MONGREL who bit his masters' hands LOUDHAILER chee soon juan, stop this communist leading policitics of envy.

me & my money

 

[Glaringly]

How far can Singapore go, when everyone is or wants to be an investor? ( Read gambler), be it property, shares etc...

There will be winners and losers, unless you think prices will always go up.

Sigh... this money earn should be put into useful means to move the nation forward... but then again gambling is in our blood... Chinese.

 

[xebay11]

Retire at 50 with only three properties? I am in my 40's and on the verge of buying my fourth property with everything fully paid by the time I am 50, but I don't see myself retiring at 50, on the contrary, I must find other ways of making even more money as by that time my kids may be going to university overseas and each would need about $400k to study in the US, I see myself working to about 60. Hmmmmm slog and slog.

 

[numero uno]

Retire at 50 with only three properties? I am in my 40's and on the verge of buying my fourth property with everything fully paid by the time I am 50, but I don't see myself retiring at 50, on the contrary, I must find other ways of making even more money as by that time my kids may be going to university overseas and each would need about $400k to study in the US, I see myself working to about 60. Hmmmmm slog and slog.

Very Pathetic attempts by 154 to prop up the prop market. All hype as usual akin to 2007/8 when the sign were there on the wall that recession would come and prop would crash. Now we have alot of property companies trying to talk up the market again just like in 2007-8. Why don't these assh@les interview and publish alot of those id!ots cases who who bought 3-4 properties in 2007-8?????? Heard the banks are chasing after them when values have drop 30% and 40% esp in high end sentosa and in 5-6 months time alot of bankruptcies and foreclosures. That's the blardy crap about the media and garmen. always trying to manipulate things and propaganda sh!t always and yet they complain why the locals have a gambling mentality and are lazy to work. typical crap people above. I am laughing at all these speculators as the worse is yet to come. Just like in US home property crises. Already, the casinoes and F1 are flop as I predicted in my posts a few years ago!!!!! Now with H1N1 flu epidemic , global recession, drop in tourists and airtravel, LOL......... afew years ago in 2006-7 alot of people esp 154 were as usual talking c@ck about casinoes and F1 but look now??? F1 looks set to collapse and nobody is going to come and see third rate teams competeing and cities like KL and shanghai losing money and thinking of junking it. afterall what so glamourous and prestigious when you have 15 cities hosting it year in and out and novelty value has wear off years ago. no wonder alot of hotel rooms are begging to be taken even with discounts.

 

[nickers9]

Very Pathetic attempts by 154 to prop up the prop market. All hype as usual akin to 2007/8 when the sign were there on the wall that recession would come and prop would crash. Now we have alot of property companies trying to talk up the market again just like in 2007-8. Why don't these assh@les interview and publish alot of those id!ots cases who who bought 3-4 properties in 2007-8?????? Heard the banks are chasing after them when values have drop 30% and 40% esp in high end sentosa and in 5-6 months time alot of bankruptcies and foreclosures. That's the blardy crap about the media and garmen. always trying to manipulate things and propaganda sh!t always and yet they complain why the locals have a gambling mentality and are lazy to work. typical crap people above. I am laughing at all these speculators as the worse is yet to come. Just like in US home property crises. Already, the casinoes and F1 are flop as I predicted in my posts a few years ago!!!!! Now with H1N1 flu epidemic , global recession, drop in tourists and airtravel, LOL......... afew years ago in 2006-7 alot of people esp 154 were as usual talking c@ck about casinoes and F1 but look now??? F1 looks set to collapse and nobody is going to come and see third rate teams competeing and cities like KL and shanghai losing money and thinking of junking it. afterall what so glamourous and prestigious when you have 15 cities hosting it year in and out and novelty value has wear off years ago. no wonder alot of hotel rooms are begging to be taken even with discounts.

Agree with you. Might as well said that if your grandfather invested Orchard Rd or Bukit Timah properties in the 1970's or 1980's when the property was so cheap, now you are actually a millionaire.

 

[1sickpuppy]

Retire at 50 with only three properties? I am in my 40's and on the verge of buying my fourth property with everything fully paid by the time I am 50, but I don't see myself retiring at 50, on the contrary, I must find other ways of making even more money as by that time my kids may be going to university overseas and each would need about $400k to study in the US, I see myself working to about 60. Hmmmmm slog and slog.

Wah 4 property I only got 2 :( but fully paid and all my kids working already will be retiring at 56 ( 2 years from now ). Don't thing I want to slog any further in this life time. I was thinking of just relax and tend to my pet dogs, fishes and do some gardening. My only though atm is to sell all my property and retire in mudland or prosland or keep my property, rent it out and retire in sinkland. What u think guys stay or leave?

 

[borom]

Very Pathetic attempts by 154 to prop up the prop market. All hype as usual akin to 2007/8 when the sign were there on the wall that recession would come and prop would crash.

We are supposed to be in a recession and I'm shocked to see some of the HDB's valuations.
25 to 30 year old 3 rooms pigeonholes are valued at 1/4 million or more.
For that amount you can buy a nice bungalow in some neighboring countries.
Is it sustainable?

 

[2lanu]

Very Pathetic attempts by 154 to prop up the prop market. All hype as usual akin to 2007/8 when the sign were there on the wall that recession would come and prop would crash.

I am a believer of nothing venture nothing gain but from what 154th media had published, it's like they cherry picked this good one and make it appear everything is good as at now in the mid of recession and retrenchment

Now we have alot of property companies trying to talk up the market again just like in 2007-8. Why don't these assh@les interview and publish alot of those id!ots cases who who bought 3-4 properties in 2007-8?????? Heard the banks are chasing after them when values have drop 30% and 40% esp in high end sentosa and in 5-6 months time alot of bankruptcies and foreclosures. That's the blardy crap about the media and garmen. always trying to manipulate things and propaganda sh!t always and yet they complain why the locals have a gambling mentality and are lazy to work. typical crap people above. I am laughing at all these speculators as the worse is yet to come. Just like in US home property crises.

It's like walking on tight ropes now if one is holding to property or stock. This 154th just do not want to tell the commoner

Already, the casinoes and F1 are flop as I predicted in my posts a few years ago!!!!! Now with H1N1 flu epidemic , global recession, drop in tourists and airtravel, LOL......... afew years ago in 2006-7 alot of people esp 154 were as usual talking c@ck about casinoes and F1 but look now??? F1 looks set to collapse and nobody is going to come and see third rate teams competeing and cities like KL and shanghai losing money and thinking of junking it. afterall what so glamourous and prestigious when you have 15 cities hosting it year in and out and novelty value has wear off years ago. no wonder alot of hotel rooms are begging to be taken even with discounts.

Whether this activities take off or not, I am not sure. But one thing is white scum just got the credit if it kick off. But when it fail, they keep mum and bury themselves just to collect their civil pay. And 154th will not dig at them too. White scum side kick mah...

 

[WayangPartyClub]

Very Pathetic attempts by 154 to prop up the prop market. All hype as usual akin to 2007/8 when the sign were there on the wall that recession would come and prop would crash. Now we have alot of property companies trying to talk up the market again just like in 2007-8. Why don't these assh@les interview and publish alot of those id!ots cases who who bought 3-4 properties in 2007-8?????? Heard the banks are chasing after them when values have drop 30% and 40% esp in high end sentosa and in 5-6 months time alot of bankruptcies and foreclosures. That's the blardy crap about the media and garmen. always trying to manipulate things and propaganda sh!t always and yet they complain why the locals have a gambling mentality and are lazy to work. typical crap people above. I am laughing at all these speculators as the worse is yet to come. Just like in US home property crises. Already, the casinoes and F1 are flop as I predicted in my posts a few years ago!!!!! Now with H1N1 flu epidemic , global recession, drop in tourists and airtravel, LOL......... afew years ago in 2006-7 alot of people esp 154 were as usual talking c@ck about casinoes and F1 but look now??? F1 looks set to collapse and nobody is going to come and see third rate teams competeing and cities like KL and shanghai losing money and thinking of junking it. afterall what so glamourous and prestigious when you have 15 cities hosting it year in and out and novelty value has wear off years ago. no wonder alot of hotel rooms are begging to be taken even with discounts.

Hahaha... you really think the bank dare to ask for margin calls from these super elites? they will tell them to fuck off and change bank.

In Singapore, those with money and power control and rule over everything. The speculators you fear about are like yourselves, salaried and powerless.

 

[johnny333]

. Why don't these assh@les interview and publish alot of those id!ots cases who who bought 3-4 properties in 2007-8?????? Heard the banks are chasing after them when values have drop 30% and 40% esp in high end sentosa and in 5-6 months time alot of bankruptcies and foreclosures.

Had an ex-colleague who bought a few properties years ago & he was struggling to pay off the banks & maintain his lifestyle & that was years ago before the sub prime crash.

I personally owed the bank for only one property & had a hard time keeping up with the banks constant increases in the interest rates. Funny how the banks can always increase the interest rates on those housing loans BUT the interest rate they pay on deposits NEVER seem to rise

How come our stories are never reported by mediacorp. Why only report the successes & not the failures

 

[johnny333]

Retire at 50 with only three properties? I am in my 40's and on the verge of buying my fourth property with everything fully paid by the time I am 50, but I don't see myself retiring at 50, on the contrary, I must find other ways of making even more money as by that time my kids may be going to university overseas and each would need about $400k to study in the US, I see myself working to about 60. Hmmmmm slog and slog.

And whats your point

That the poor who can't even pay for their HDB must slog forever or that even millionaires in Spore have have a hard time?

 

[tonychat]

Retire at 50 with only three properties? I am in my 40's and on the verge of buying my fourth property with everything fully paid by the time I am 50, but I don't see myself retiring at 50, on the contrary, I must find other ways of making even more money as by that time my kids may be going to university overseas and each would need about $400k to study in the US, I see myself working to about 60. Hmmmmm slog and slog.

You mean u have to slog just to earn 400k for ur kids to study?

I think you should reflect the way you do ur biz. It is such a waste to slog all the way in ur life.

 

[jimmyfallon]

Very Pathetic attempts by 154 to prop up the prop market. All hype as usual akin to 2007/8 when the sign were there on the wall that recession would come and prop would crash. Now we have alot of property companies trying to talk up the market again just like in 2007-8. Why don't these assh@les interview and publish alot of those id!ots cases who who bought 3-4 properties in 2007-8?????? Heard the banks are chasing after them when values have drop 30% and 40% esp in high end sentosa and in 5-6 months time alot of bankruptcies and foreclosures. That's the blardy crap about the media and garmen. always trying to manipulate things and propaganda sh!t always and yet they complain why the locals have a gambling mentality and are lazy to work. typical crap people above. I am laughing at all these speculators as the worse is yet to come. Just like in US home property crises. Already, the casinoes and F1 are flop as I predicted in my posts a few years ago!!!!! Now with H1N1 flu epidemic , global recession, drop in tourists and airtravel, LOL......... afew years ago in 2006-7 alot of people esp 154 were as usual talking c@ck about casinoes and F1 but look now??? F1 looks set to collapse and nobody is going to come and see third rate teams competeing and cities like KL and shanghai losing money and thinking of junking it. afterall what so glamourous and prestigious when you have 15 cities hosting it year in and out and novelty value has wear off years ago. no wonder alot of hotel rooms are begging to be taken even with discounts.

Yes, but unfortunately the 66% wont see it that way.

 

[cass888]

They deserve it. Just like they deserve it if the 3-4 properties had gotten them a million dollar windfall.

What the hell is your point?

Why don't these assh@les interview and publish alot of those id!ots cases who who bought 3-4 properties in 2007-8?????? Heard the banks are chasing after them when values have drop 30% and 40% esp in high end sentosa and in 5-6 months time alot of bankruptcies and foreclosures.

 

[ah_phah]

if his ah-gong or ah-ma never left behond any $ for him....... he'd still be counting kiam-sng-tee. where would he have 500'000 to invest from the beginning?

 

[numero uno]

They deserve it. Just like they deserve it if the 3-4 properties had gotten them a million dollar windfall.

What the hell is your point?

You must be living in lala land. The point is this is nothing but propaganda sh!t by certain vested interested parties esp prop developers!!! If you want to highlight certain stories, you must be objective and not just highlight a solitary rare case when there are huindreds of worse cases of people made bankrupts or having difficulties paying thier mortagages and later when the sub prime crises hit locally they then blame us or ask the garmen to restrict land sales or bail them out by loans . This is NOT a free market forces at work and when tax payer /public money is use to bail put these crap. you see it already in the taxi companies. already asking garmen to help them out. What the hell is market forces then??? when prices go up tremendously in the 1994-6 they(speculators and developers) did not ask garmen to restrict sales to moderate prices do you??? This si so unlike HK where it is a pure market at work where prices can go up by 50% and drop by 50% overnight equally and the garmen would not interfere at all. No wonder HK consistently rated as #1 for financial centre and for their fair play. That article above by the 154 media or assh@les is nothing but to hype things up when the outlook is very poor!!!! yet have you ever read a single article by the shitty times about anybody who spec in properties and went bankrupt? No . because they never publish such real stories for vested interests but in reality there are alot out there. speak to the bankers. so there is no free market here and no fair play in reality.