The CPF-HDB scam and how to defeat it

[oliverlee]

That was why I was trying to to say in the other post. Do not play the game. Do not buy a HDB flat. Do not marry and do not breed.

Do not do anything which feeds more money to the regime, and further entrenches you to this place.

If you wish to do financial planning, do it while totally disregarding the CPF.

You can buy a flat, but treat it like a hostel that you rent out long term till you decide it no longer can be monetised. There are many who have bought flats, and rented out the entire place (most times to several parties at one go), and they go live elsewhere. Some owners will even squeeze themselves in very small flats, so as to milk the system further, cos the system recognises the last address on your ID, not how many fucking properties you own in name. This is the single largest loophole that has served many who know how to play the game. In the meantime, drive all the cars you want, while the flats pay for themselves from the rent you collect. Of course you do not piss your neighbours off and risk getting complaints. Be nice, educate your tenants, this is one instance where foreigners actually come here to contribute gainfully

 

[laksaboy]

You can buy a flat, but treat it like a hostel that you rent out long term till you decide it no longer can be monetised. There are many who have bought flats, and rented out the entire place, and they go live elsewhere. Some will even squeeze themselves in very small flats, so as to milk the system further, cos the system recognises the last address on your ID, not how many fucking properties you own in name. This is the single largest loophole that has served many who know how to play the game. In the meantime, drive all the cars you want, while the flats pay for themselves from the rent you collect. Of course you do not piss your neighbours off and risk getting complaints. Be nice, educate your tenants, this is one instance where foreigners actually come here to contribute gainfully

You are just thinking about the (potential) financial benefits involved.

Ever thought that some people just don't want to go through the fucking hassle? You have to maintain the place, do some interior decor, do paperworks, scout for people to rent the place etc.

Think of it in reverse: I pay you the money, you leave me the hell alone.

 

[oliverlee]

You are just thinking about the (potential) financial benefits involved.

Ever thought that some people just don't want to go through the fucking hassle? You have to maintain the place, do some interior decor, do paperworks, scout for people to rent the place etc.

Think of it in reverse: I pay you the money, you leave me the hell alone.

it's not potential, it's material benefits. There are many who have profited from this. There are of course risks like i said, if you flout the rules. In fact, doing this at this point means you are late to the game. I am sure the system is well aware of what's been happening, but it allows it to flourish cos it's part of vote buying (who doesn't want Swiss chocolates), and maintaining the illusion that HDB flats are real assets. Try it, don't just be cynical LOL. PS - if it's a hostel, why the fuck do i care if the place breaks down, and roof comes down? I am just selling the shell to a willing buyer, who will stupidly shell out good money to put the roof back LOL

 

[laksaboy]

it's not potential, it's material benefits. There are many who have profited from this. There are of course risks like i said, if you flout the rules. In fact, doing this at this point means you are late to the game. I am sure the system is well aware of what's been happening, but it allows it to flourish cos it's part of vote buying (who doesn't want Swiss chocolates), and maintaining the illusion that HDB flats are real assets. Try it, don't just be cynical LOL

No thanks.

 

[blackmondy]

What I know is government is short of cash to return cpf to us and so they start to sell very expensive hdb

And expensive cars wif high COEs.

 

[True Believer]

They have turned the housing lease into another commodity that is traded like stocks and shares on the market. The idea was never to give you a comfortable roof over your head, but to monetise infrastruture. The lie came out of Woody's bid to engender a Swiss standard of living by artificially raising the value of public housing, and it has succeeded. Sinkies are asset and paper rich, but abysmally skint when it comes to real money.

The so-called "power" of the S'pore dollar is that S$1 million will buy you a public pigeon hole apt in the sky with whatever remains on its existing lease.

 

[Papsmearer]

They have turned the housing lease into another commodity that is traded like stocks and shares on the market. The idea was never to give you a comfortable roof over your head, but to monetise infrastruture. The lie came out of Woody's bid to engender a Swiss standard of living by artificially raising the value of public housing, and it has succeeded. Sinkies are asset and paper rich, but abysmally skint when it comes to real money.

U sure or not. When sinkies live long enough, even their HDB flat is declining to zero. e.g. My friend is trying to sell his 40 year old flat. Original list price $500k, which for a flat that size, is a good deal. Now drop price to $320K, still no takers. Why? Flat is 40 years old and no banks will provide housing loan to potential buyers. So buyers must pay in cash. Who got $500K in cash lying around?

 

[Papsmearer]

You can buy a flat, but treat it like a hostel that you rent out long term till you decide it no longer can be monetised. There are many who have bought flats, and rented out the entire place (most times to several parties at one go), and they go live elsewhere. Some owners will even squeeze themselves in very small flats, so as to milk the system further, cos the system recognises the last address on your ID, not how many fucking properties you own in name. This is the single largest loophole that has served many who know how to play the game. In the meantime, drive all the cars you want, while the flats pay for themselves from the rent you collect. Of course you do not piss your neighbours off and risk getting complaints. Be nice, educate your tenants, this is one instance where foreigners actually come here to contribute gainfully

U sure or not? Talk cock here. If you are buying resale flat, maybe. Today new flat and BTO are so small they cannot accommodate so many tenants. If you buy a resale flat big enough to do what you say, it will cost you $650K plus in a good location, which is what tenants look for. Those older bigger flats near MRT station. Your bank loan how much for $560K? Your monthly payment how much?. Plus u have to pay their utilities, wifi, etc. And the only tenants you will find for these kind of chop up flat with several parties renting are PRC and CECA. Both of which are notorious for paying a low as possible for rent. And one will leave your flat smelling like curry, which the smell will remain even after 2 coats of new paint. If you can net $1000-$1500, consider it good already. And that is not enough money for you to go and live elsewhere. The people successfully doing this are those who have owned the flat long time, and have no more housing loan to pay. So everything they get from tenants is mostly net.

 

[Papsmearer]

And expensive cars wif high COEs.

There are ways to beat both expensive cars and high COE. U can drive perfectly nice cars for $500-$750 per month, all in. Sometimes even less then that. Max. No COE.

 

[Papsmearer]

It is easier to look at CPF as a Ponzi scheme.
And all Ponzi schemes will collapse eventually.
That is why my repeated reminders for Singaporeans to migrate and take out yr CPF.
Do it fast because just like every Ponzi, whoever exits first is safe. There is no immunity to the economy wide collapse even if you're rich.
When PAP sees too much withdrawals and lesser and lesser money they hold, they will change the rules to prevent you from withdrawing it.
Don't say you not warned.

The ponzi scheme cannot collapse because the govt will simply print more money.

 

[Papsmearer]

Ultimately, all land belongs to GOV de woh

wow, what an astute observation. so all those freehold bungalows belonging to the elite rich and ministers belong to the govt.? Wow, so smart. Come I clap for you.

 

[k1976]

wow, what an astute observation. so all those freehold bungalows belonging to the elite rich and ministers belong to the govt.? Wow, so smart. Come I clap for you.

Just think about it, who issue the land lease loh, u so smart, why still dun understand

 

[Loofydralb]

The ponzi scheme cannot collapse because the govt will simply print more money.

Print enough and it will collapse just like USD is headed to now.

wow, what an astute observation. so all those freehold bungalows belonging to the elite rich and ministers belong to the govt.? Wow, so smart. Come I clap for you.

Don't be sarcastic. Land Acquisition Act means gov owns all the land.

 

[oliverlee]

U sure or not? Talk cock here. If you are buying resale flat, maybe. Today new flat and BTO are so small they cannot accommodate so many tenants. If you buy a resale flat big enough to do what you say, it will cost you $650K plus in a good location, which is what tenants look for. Those older bigger flats near MRT station. Your bank loan how much for $560K? Your monthly payment how much?. Plus u have to pay their utilities, wifi, etc. And the only tenants you will find for these kind of chop up flat with several parties renting are PRC and CECA. Both of which are notorious for paying a low as possible for rent. And one will leave your flat smelling like curry, which the smell will remain even after 2 coats of new paint. If you can net $1000-$1500, consider it good already. And that is not enough money for you to go and live elsewhere. The people successfully doing this are those who have owned the flat long time, and have no more housing loan to pay. So everything they get from tenants is mostly net.

you just acknowledged that if you buy resale, whatever I said is a possibility. The only person who's skeptical and cynical is you, probably because you have never stuck your grubby fingers in the pie. In any case, those who can afford to play the game have profited from gaming the system, so i rest my case. Talking cock? It's what we come here to do ain't it?

 

[eatshitndie]

in 2024 sinkies can rent out old 5-room hdb flat to 8 foreign trash preferably atb whores to collect at least $5.5k per month at $690 each. use that money to rent a condo in jb or kl and live comfortably. many jiuhu couples with sg pr do that. best of both worlds. can retire in jiuhu and buy landed house without forking out the minimum rm2m amount required for foreigners. the old hdb flat in sg can payback $669k in slightly over 10 years. when composite rent goes up to $6.9k per month for 8 atb whores that’s $690k in 10 years and over $1.369m in 20 years. huat ah!

 

[Papsmearer]

Print enough and it will collapse just like USD is headed to now.

Don't be sarcastic. Land Acquisition Act means gov owns all the land.

Shows you what a fucktard you are. LA is just a law. The govt. will never use LA Act to acquire all the land, because that would mean forcing Familee to sell all their private freehold land, forcing all the billionaires and Ministers to do the same, etc. Which govt Minister will allow Land Acquisition Act to force him to sell his land? Which fucking fantasy is this? Therefore, the govt will never own all the land.

 

[Loofydralb]

Shows you what a fucktard you are. LA is just a law. The govt. will never use LA Act to acquire all the land, because that would mean forcing Familee to sell all their private freehold land, forcing all the billionaires and Ministers to do the same, etc. Which govt Minister will allow Land Acquisition Act to force him to sell his land? Which fucking fantasy is this? Therefore, the govt will never own all the land.

What fuckup thinking you have. If you can take it anytime you want, that means you own it!
Doesn't matter if you want to do it all at once or not.

 

[k1976]

U sure or not? Talk cock here. If you are buying resale flat, maybe. Today new flat and BTO are so small they cannot accommodate so many tenants. If you buy a resale flat big enough to do what you say, it will cost you $650K plus in a good location, which is what tenants look for. Those older bigger flats near MRT station. Your bank loan how much for $560K? Your monthly payment how much?. Plus u have to pay their utilities, wifi, etc. And the only tenants you will find for these kind of chop up flat with several parties renting are PRC and CECA. Both of which are notorious for paying a low as possible for rent. And one will leave your flat smelling like curry, which the smell will remain even after 2 coats of new paint. If you can net $1000-$1500, consider it good already. And that is not enough money for you to go and live elsewhere. The people successfully doing this are those who have owned the flat long time, and have no more housing loan to pay. So everything they get from tenants is mostly net.

Good rental is strictly reserve for well heel and connected privileged ones de

 

[oliverlee]

in 2024 sinkies can rent out old 5-room hdb flat to 8 foreign trash preferably atb whores to collect at least $5.5k per month at $690 each. use that money to rent a condo in jb or kl and live comfortably. many jiuhu couples with sg pr do that. best of both worlds. can retire in jiuhu and buy landed house without forking out the minimum rm2m amount required for foreigners. the old hdb flat in sg can payback $669k in slightly over 10 years. when composite rent goes up to $6.9k per month for 8 atb whores that’s $690k in 10 years and over $1.369m in 20 years. huat ah!

you just proved my point

 

[oliverlee]

Good rental is strictly reserve for well heel and connected privileged ones de

you are right. But even the foreigners are gaming the Ponzi by renting a whole unit and subletting the rooms to other foreigners. If you have a whole house filled with pundeks or pinoys, who would tell? This one is my brother, that one my sister. For the love of money, they will all have the same mother