Buying Property with No Money Down? Yes!! Can be done!

Is it possible to buy a property with none of your own money down in Singapore?? Yes, Recently I invested in two units at Tradehub21, a commercial/industrial office units each selling for only $300K. The per sq feet is only at S$290 granted it is a 60 year leasehold property. I pre-booked the units before the price was revised upwards and I have just been confirmed to have alloted the two units. Meantime, I looked for investors to pay the 20% downpayment. The current price of both properties are about 10% higher than my booking price and the current booking price is still another 10% lower than the original price which will be revised close to TOP 3rd quarter of this year.

So, in view of this senario, I managed to get two investors to join me in the investment where they put in the 20% deposit and I take up the mortgage. During this time, I will be sourcing for tenants that will start once the project TOP. The monthly rental is projected to be at least 40%-50% higher than the month mortgage loans, so there should be positive cashflow!

So, effectively, I now co-own the property with none of my own money down! Not bad right?

I thought this is a good time to pick up undervalued properties and not chase up the ‘hot’ properties around the Integrated Resorts. Since Singapore has targeted to increase its population by another 2,000,000 within the next two to three years, I see there will be a real shortage of good office, commercial spaces. So, good luck in your search for opportunites that are coming up. Opportunities are everywhere…

Recent Entries

« How to VALUE a business?
The Million Makers »

This entry was posted on Tuesday, March 20th, 2007 at 4:52 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

6 Responses to “Buying Property with No Money Down? Yes!! Can be done!”

  1. Calvin Says:
    March 26th, 2007 at 2:46 pm

    Very interesting… especially in Singapore where everyone seems to be-moan its many restrictions and claustrophobic business environment. Great job! Its all in how creative we can be and seeing opportunities instead of obstacles!

  2. Sebastian Nai Says:
    March 28th, 2007 at 1:49 am

    Good Morning Wendy,

    I am Sebastian Nai now age 40. After I have attend the seminars orgainise by richdad asia. I got the urge to up grading to financial freedom. However I do know where to start. I wanted to set up my own business but do not know which direction I am heading could you please help me.

    Best Regards,
    Sebastian Nai
    hp: 97896756

  3. Ben Says:
    June 17th, 2007 at 7:02 am

    the best advice one can get for those who are eying the property market.

  4. Asia Says:
    August 21st, 2007 at 1:09 pm

    Hello,

    Wendy, I love your enthusiasm for life and for people. I’ve read this post a few days ago. And I just have to ask this stupid question, how did you benefit the investors that helped you with the 20% down payment?

    Asia

  5. Gary Says:
    October 17th, 2007 at 3:28 am

    Wendy, thank you for sharing.

  6. Margaret Chan Says:
    April 4th, 2008 at 10:33 pm

    Hi Wendy

    I like to know how the ‘developer’ of Trade21 allowed you to book the units without paying some form of downpayment upfront. It’s standard procedure that the buyer pay 5%. Was it because they know you personally?
    I would also like to know how you managed to find investors for the units so quickly. Did you already find the ‘tenant’ in advance and got the commitment from the tenant after you signed the purchase agreement.
    THanks for sharing.

Leave a Reply