Can you really buy 2 condos after selling your HDB flat?
It can be done but it’s not for everyone. You need to meet some salary requirements. However you will be surprised that most upgraders can do it but they don’t know how to do it.
I’m going to show you how I did it for a couple who sold their HDB flat in Punggol and bought 2 condos in the east for passive income.
Shafiq and Nisa contacted me to upgrade to a condo. Shafiq said during the first meeting
“My CPF won’t be enough when I’m 55 years old so I’m wondering if property can help my wife and me be independent even at our old age.”
“My own parents are currently staying with my sister and her family. I know it’s uncomfortable for them yet they have no choice. 25-30 years ago there was nobody to help them plan their retirement”
They know that the only way is earn a stable income from a good property. Finally they want to leave properties for their children and hopefully leave a legacy that reaches their grandchildren.
Shafiq & Nisa – Punggol 4 Room Flat HDB OwnersI met Shafiq and Nisa last year. They are both 35 years old.
Shafiq works for an advertising firm and he earns $7200. Nisa is a civil servant earning $5400. Their combined income is $12600.
They own a 4 Room Punggol HDB flat. Their outstanding HDB loan is $110,000. They don’t have any cash savings.
They saw my ad and wondered if they qualified.
They want to sell and buy 2 private properties and explore the option for a 3rd property somewhere down the road.
This is only possible through private properties.
Both of them wants to take advantage of the fact that they this is their only chance to sell their Punggol 4 room flat for a good profit and use it to better use.
My proposal for them was for them to buy 2 residential properties with high potential capital appreciation. A 3 bedder to live in and a 2 bedder for an investment.
They will be buying under 2 separate names to avoid paying ABSD of 12% for the 2nd property.