About Me

At the age of 24, I purchase my first property with my wife. We bought a 3 NG flat from open market at $278,000 with COV of $3,000. During the time, my wife just completes her degree and has not land on a job yet. I quickly leverage on my income only, we manage to obtain HDB Additional Housing Grant at $20,000. Meanwhile, the HDB we brought where is near my parents in law. Hence, we also obtain Housing Grant for Family (stay near parents) at $40,000.
Total amount of grant we obtain = Additional Housing Grant + Housing Grant for Family
Total = $60,000 (Grant in Total)
At that instance, we took HDB loan and the total loan amount we obtain is $200,000.
After finance my housing loan for 3 years, we decided to switch to Bank Loan as the interest rate is much more attractive than HDB loan.
When our property completed 5 years MOP, we manage to redeem our housing loan with the bank.

Currently, we complete our housing loan and earn net passive income from our rental. 

We also purchase our second property and use the passive rental income from our first property to service mortgage. 

I always encourage everyone to get their own property asap. If able to settle down fast, buy a property first. If you are single and financially strong, consider buy a private property. Otherwise, when reach the age of 35 buy a resale HDB flat.  

Property investment is one of the best way to get out of poverty in Singapore

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Freddie Lim
CEA Licence No.:
L3008899K / R052202G
+(65) 9780 3987