If I have 600k, and the house i want to buy is 500k, how to buy it for 'free' ?

[nyvrem]

Situation, i got rental income $3000/mth SGD from my HDB

i got $600k SGD savings

i'm looking at a place to get (most prob for investment), it cost $500k AUD (it's in Oz)

i'm thinking put 100k AUD as DP and take 30 year 400k AUD loan, then my $500k SGD put into some conservative AUD FD that gives me 4.4% pa

my hdb rental 3000 SGD/mth = 30k SGD pa + 4.4% AUD FD = $18,000 AUD, should bring in about $52,000 AUD pa ($4300 AUD/mth)

my 30 year housing loan should be around $2500 AUD/mth

then i just use the rental income + FD $$ to clear the housing loan. Extra use to clear principle.

By the end of it, i should have a fully paid house + 500k + whatever future savings in the bank

Makes sense bo?

Sorli about the mix between SGD and AUD cause my wife was talking about being closer to her parents in AUS, and i thought like that pump $$ invest into a place there and rent out first just incase.

then she say use my own marnee. so now i thinking can or not.

    

[default]

whats the criteria to buy OZ place ah? i also like but in our generation is like all confirm must die

the old geezers buy up all for cheap and pass to their jlb second gen

theres 0 chance of us making it big unless big time gamble or things like crypto. want to get rich by stocks is impossible i feel. well to do or enough to retire yes.

or business, which is getting way harder to do than boomer pioneer merdeka times

[default]

ur wife not US meh? why go OZ?

[nyvrem]

whats the criteria to buy OZ place ah? i also like but in our generation is like all confirm must die

the old geezers buy up all for cheap and pass to their jlb second gen

theres 0 chance of us making it big unless big time gamble or things like crypto. want to get rich by stocks is impossible i feel. well to do or enough to retire yes.

or business, which is getting way harder to do than boomer pioneer merdeka times

my understanding is, if you dont have Oz PR/shittyzen, can only buy new development. our local banks offer loans for Oz ppty also. interest might be higher and en-marked as investment ppty

[nyvrem]

ur wife not US meh? why go OZ?

my wife is US shittyzen. she dunwan hoot Oz ppty cause her yearly declared income cannot exceed 120k USD or else she kenna pay tax to unker sam. thats y she told me if i want to do this, must do on my own. cannot add her name inside. she already declaring slightly more than 110k USD liao.

[nyvrem]

i was looking at something like this, about 20km away from Brisbane CBD (in laws live in Byron Bay area, so this is about 2hrs drive away. not too bad ba)



https://www.domain.com.au/pallara-qld-4110-2016392611

[Nemesis Alien]

In for escape info.

[jim889]

i was looking at something like this, about 20km away from Brisbane CBD (in laws live in Byron Bay area, so this is about 2hrs drive away. not too bad ba)



https://www.domain.com.au/pallara-qld-4110-2016392611

tot chiur in law in perth ? anyway chiur $$$ chiu spend heypi jiu hao..
but price is "From" so probably chiu paying moar

oso ad says land size 335m², 4 br, 2 toilet , 1 garage, but photo shows double garage.. dun think the pic will be the hause chiu buying at that advertise price.

if chiu wanna buyed then rook carefully since chiu so far away get someone to help you.

oso since chiu said investment mean chiu not going to live in there .. why bother about where chiur inlaw staying unless they wanna jaga the prace for chiu.

google said 158km or 1hr 43min to bryon bay. (dun think any one will want to this kind of driving velly often)

google oso said 28min or 23km to brisbane (maybe longer if peak hr) but wat facilites this prace have?
any train station?
horsepeter?
school?
shopping?

who wanna rent there? have chiu think abt all these?
 

[jim889]

whats the criteria to buy OZ place ah? i also like but in our generation is like all confirm must die

the old geezers buy up all for cheap and pass to their jlb second gen

theres 0 chance of us making it big unless big time gamble or things like crypto. want to get rich by stocks is impossible i feel. well to do or enough to retire yes.

or business, which is getting way harder to do than boomer pioneer merdeka times

foreigner buying hause in au.. just google  many info.
probably can start here:
https://foreigninvestment.gov.au/sites/foreigninvestment.gov.au/files/2023-07/guidance_note_6_residential_land.pdf

[jim889]

Situation, i got rental income $3000/mth SGD from my HDB

i got $600k SGD savings

i'm looking at a place to get (most prob for investment), it cost $500k AUD (it's in Oz)

i'm thinking put 100k AUD as DP and take 30 year 400k AUD loan, then my $500k SGD put into some conservative AUD FD that gives me 4.4% pa

my hdb rental 3000 SGD/mth = 30k SGD pa + 4.4% AUD FD = $18,000 AUD, should bring in about $52,000 AUD pa ($4300 AUD/mth)

my 30 year housing loan should be around $2500 AUD/mth

then i just use the rental income + FD $$ to clear the housing loan. Extra use to clear principle.

By the end of it, i should have a fully paid house + 500k + whatever future savings in the bank

Makes sense bo?

Sorli about the mix between SGD and AUD cause my wife was talking about being closer to her parents in AUS, and i thought like that pump $$ invest into a place there and rent out first just incase.

then she say use my own marnee. so now i thinking can or not.

    

since large sum of $$$ involved, chiu better be aware of Anti-Money Laundering and Counter-Terrorism Financing Act

get a good lawyer who know the local law in the state chiu wanna buyed the hause.. this lawyer  will advise how to proprly comply with these laws otherwise chiur $$$ may get chiong kong
 

[default]

Landed at brisbane so cheap? What abt perth? Well known retirement village

[jim889]

Landed at brisbane so cheap? What abt perth? Well known retirement village

cheap meh? and chiu wanna buyed?
 

[default]

cheap meh? and chiu wanna buyed?
 

compared to SG is cheap mah. SG now even those lok kok ones at least 1.2m i think, at macpherson. old, rundown, single storey

those at least can live people one at least 1.5m+++ onwards to GCB at 25m and above... i rem maybe 10 yrs ago GCB only 20m or less

[jim889]

compared to SG is cheap mah. SG now even those lok kok ones at least 1.2m i think, at macpherson. old, rundown, single storey

those at least can live people one at least 1.5m+++ onwards to GCB at 25m and above... i rem maybe 10 yrs ago GCB only 20m or less

the location ulu with no facilities.
that's why the price seems cheap.
also, the price on the ad is not the final price .. sure need to payed moar.

stayed hdeebee better goed donstair can buyed everything busstop / mrt just few mins away better
 

[sTiCkY]

welly lich sia...