ValueBuddies.com : Value Investing Forum - Singapore, Hong Kong, U.S.

(04-02-2013, 11:10 AM)brattzz Wrote: [ -> ]

(03-02-2013, 01:59 PM)NTL Wrote: [ -> ]Had read the the posts here, especially by the few who had achieve their financial success. How I wish I am in their same shoe, though likely mine will be Bata and theirs are Hush Puppies.

i frown on this post, why wish? u can BE whatever you want to be!! :O
Work hard, work smart! grow wiser! use ur resources carefully!

millionaires/billionaires also wear panda brand slippers okay!

They see the value in it!

OKAY! it's true for most people.
Only difference i think you don't have to worry about whether there is food on the table for your family come tomorrow.

> i frown on this post, why wish? u can BE whatever you want to be!! :O
> Work hard, work smart! grow wiser! use ur resources carefully!
> millionaire billionaires also wear panda brand slippers okay!

1. I paid off my resale flat near Toa Payoh at 39 years old - peace of mind (not the best use of CPF though)
2. On my pay day, I transfer $$$ % to my savings account
3. I eat at hawker centre - compare prices. I count number of times I eat at shopping malls
4. When I shop at supermarket, I teach my kids to buy housebrand. Fairprice housebrand kaya is actually GLORY.

So yes, buy stock is the same as go shopping. You can see mustapha ower, he looks like an ordinary mustapha store worker...

(04-02-2013, 10:05 PM)Contrarian Wrote: [ -> ]> i frown on this post, why wish? u can BE whatever you want to be!! :O
> Work hard, work smart! grow wiser! use ur resources carefully!
> millionaire billionaires also wear panda brand slippers okay!

1. I paid off my resale flat near Toa Payoh at 39 years old - peace of mind (not the best use of CPF though)
2. On my pay day, I transfer $$$ % to my savings account
3. I eat at hawker centre - compare prices. I count number of times I eat at shopping malls
4. When I shop at supermarket, I teach my kids to buy housebrand. Fairprice housebrand kaya is actually GLORY.

So yes, buy stock is the same as go shopping. You can see mustapha ower, he looks like an ordinary mustapha store worker...

yes, i agree. u can be what u want to be so long as u do the proper planning.

for me:

1) i have 2 pte properties bought donkey yrs ago. can pay off the loans but really the low interest rate is of little incentive for me to do so. moreover, my tenant and my clients are my cai shen ye, they are paying it for me.

2) i hardly eat out. i buy my rice by the 50kg bags from tong seng produce at woodlands. even the security knows me by now as i go there every 3-4mths.

3) i dun have the luxury of a pay day or bonus pay day which is non existent for me for the last 10years.

4) i call the shots at office but i still need to be around because my staff likes to ask me everything and anything.

5) yes, i shop also at NTUC n giant. I mostly buy items with the healthy label logo on them.

6) private vehicles are fully paid because hire purchase rates are ridiculous for the pieces of liabilities.

7) hardly go to orchard or shentonway etc...whenever i go there, i get scoldings++ from my wife cos i take a long way and a long time to park the car.."why u dunno the way there??!!"'. gps doesn't help navigate carparks.

8) i don't do any entertaining. i deligate my staff to do so and they will report to me if anything.

9) my father once commented...see..even ur staff drive a new bmw.. and u drive a lousy toyota.


point 10-100) most impt, i am comfortable and happy with what i am doing.

Bro paul low, you are truly amazing. More disciplined than me in every way, salute

Rice by the 50 kg!!! Can they keep for so long?

One suggestion - mix with half brown rice. Polished White rice long term is no good. We all want to die painless, dont want to spend $$$ at the Mt E or gleneagle... So eat brown rice, do regular exercises...

Enjoy bro!!!

(04-02-2013, 10:28 PM)paullow Wrote: [ -> ]

(04-02-2013, 10:05 PM)Contrarian Wrote: [ -> ]> i frown on this post, why wish? u can BE whatever you want to be!! :O
> Work hard, work smart! grow wiser! use ur resources carefully!
> millionaire billionaires also wear panda brand slippers okay!

for me:

1) i have 2 pte properties bought donkey yrs ago. can pay off the loans but really the low interest rate is of little incentive for me to do so. moreover, my tenant and my clients are my cai shen ye, they are paying it for me.

2) i hardly eat out. i buy my rice by the 50kg bags from tong seng produce at woodlands. even the security knows me by now as i go there every 3-4mths.

3) i dun have the luxury of a pay day or bonus pay day which is non existent for me for the last 10years.

4) i call the shots at office but i still need to be around because my staff likes to ask me everything and anything.

5) yes, i shop also at NTUC n giant. I mostly buy items with the healthy label logo on them.

6) private vehicles are fully paid because hire purchase rates are ridiculous for the pieces of liabilities.

7) hardly go to orchard or shentonway etc...whenever i go there, i get scoldings++ from my wife cos i take a long way and a long time to park the car.."why u dunno the way there??!!"'. gps doesn't help navigate carparks.

8) i don't do any entertaining. i deligate my staff to do so and they will report to me if anything.

9) my father once commented...see..even ur staff drive a new bmw.. and u drive a lousy toyota.


point 10-100) most impt, i am comfortable and happy with what i am doing.

(05-02-2013, 02:26 AM)Contrarian Wrote: [ -> ]Bro paul low, you are truly amazing. More disciplined than me in every way, salute

Rice by the 50 kg!!! Can they keep for so long?

One suggestion - mix with half brown rice. Polished White rice long term is no good. We all want to die painless, dont want to spend $$$ at the Mt E or gleneagle... So eat brown rice, do regular exercises...

Enjoy bro!!!

(04-02-2013, 10:28 PM)paullow Wrote: [ -> ]

(04-02-2013, 10:05 PM)Contrarian Wrote: [ -> ]> i frown on this post, why wish? u can BE whatever you want to be!! :O
> Work hard, work smart! grow wiser! use ur resources carefully!
> millionaire billionaires also wear panda brand slippers okay!

for me:

1) i have 2 pte properties bought donkey yrs ago. can pay off the loans but really the low interest rate is of little incentive for me to do so. moreover, my tenant and my clients are my cai shen ye, they are paying it for me.

2) i hardly eat out. i buy my rice by the 50kg bags from tong seng produce at woodlands. even the security knows me by now as i go there every 3-4mths.

3) i dun have the luxury of a pay day or bonus pay day which is non existent for me for the last 10years.

4) i call the shots at office but i still need to be around because my staff likes to ask me everything and anything.

5) yes, i shop also at NTUC n giant. I mostly buy items with the healthy label logo on them.

6) private vehicles are fully paid because hire purchase rates are ridiculous for the pieces of liabilities.

7) hardly go to orchard or shentonway etc...whenever i go there, i get scoldings++ from my wife cos i take a long way and a long time to park the car.."why u dunno the way there??!!"'. gps doesn't help navigate carparks.

8) i don't do any entertaining. i deligate my staff to do so and they will report to me if anything.

9) my father once commented...see..even ur staff drive a new bmw.. and u drive a lousy toyota.


point 10-100) most impt, i am comfortable and happy with what i am doing.

Ha! Ha!
"HUA HEE TOO HO"
Nothing really matters!
BMW or Toyota, don't compare lah!

Ah yes, you own 2 properties for donkey years. i am going to own one shoebox for rental purpose. Can you give some practical advise how to manage tenant and property to minimise problems. Never want to be a landlord in the past because of "managing problems". Now i am 65 year-old, think i can now. Your advise please.
Thanks.

for shoebox units i think its easier. cos its smaller. less likely got children. more likely singles or just a couple. go for expatriates if poss. sign 2yr if poss. i went thru agent so less hassle. everything stated in agreement. 1st$150/item tenant pays thereafter its landlords. so tenant dowan to anyhow spoil things. must go inspect every 3mths. a bit curry favourvwith tenant useful so he more likely will take carevof ur unit. each time u go visit, buy him a small token eg box of chocolates. remember he's ur cai shen ye!

paulow, i think your point 10-100) is the secret to happiness.

In a Me and My Money interview I would be classified as a spender for sure: I enjoy my sports cars, nice clothes but I do shop at Giant, and I order NTUC online and I bargain hard if there is any leeway (a habit i cannot kick). But most importantly, I am at peace with myself!

(05-02-2013, 10:31 AM)paullow Wrote: [ -> ]for shoebox units i think its easier. cos its smaller. less likely got children. more likely singles or just a couple. go for expatriates if poss. sign 2yr if poss. i went thru agent so less hassle. everything stated in agreement. 1st$150/item tenant pays thereafter its landlords. so tenant dowan to anyhow spoil things. must go inspect every 3mths. a bit curry favourvwith tenant useful so he more likely will take carevof ur unit. each time u go visit, buy him a small token eg box of chocolates. remember he's ur cai shen ye!

Talking about housing agent, from your experience, is it better to use an "exclusive agent or open to the market to source for tenants?

(05-02-2013, 01:25 PM)Temperament Wrote: [ -> ]Talking about housing agent, from your experience, is it better to use an "exclusive agent or open to the market to source for tenants?

Allow me to share my view. I don't see benefit in exclusive agent, unless maybe they charge you lower commission. But even then that is not the main objective. Main objective is to find tenant in the shortest possible time. Most agents specialize in certain areas or segments. Go for those agents that specialize in your area, chances of you finding a tenant would be higher.

(05-02-2013, 01:25 PM)Temperament Wrote: [ -> ]

(05-02-2013, 10:31 AM)paullow Wrote: [ -> ]for shoebox units i think its easier. cos its smaller. less likely got children. more likely singles or just a couple. go for expatriates if poss. sign 2yr if poss. i went thru agent so less hassle. everything stated in agreement. 1st$150/item tenant pays thereafter its landlords. so tenant dowan to anyhow spoil things. must go inspect every 3mths. a bit curry favourvwith tenant useful so he more likely will take carevof ur unit. each time u go visit, buy him a small token eg box of chocolates. remember he's ur cai shen ye!

Talking about housing agent, from your experience, is it better to use an "exclusive agent or open to the market to source for tenants?

My two cents, hope this helps.

For renting out to tenants this is what i make sure i do..

Build into the agreement these clauses:

-late payment % - dont' be afraid to execute this (after 3 -4 times late payment) depending on your discretion. I find that usually when I execute the clause, from that point onwards they won't be late anymore

-to check each 3-4 months - vital to know if your home is still your home. Also to see signs of him using it for other purposes.

-allowing / disallowing pets - really up to you, usually i kiasu a bit and put disallow.

-sub-letting to others - depending on your preference you might want to avoid this

-air con servicing, to be done quarterly / half yearly.

-condition to leave the house as it is.

-clause on use of deposit money to fix the house in the even there's some damage, etc



Inventory:
-helps to take photo graphs of keep inventories at your unit. Things liks your expensive cupboard, tables, TV, etc etc so that there is no dispute on the condition. I once found my tenant dismantled my dining table and i wasn't able to fix it back as some parts were missing.

-share this list with the tenant. They'll think twice of damaging it.


Install:
- Smoke detectors
- sink/washroom capture device - to capture all those rubbish, etc I had an experience whereby a tenant keep dumping cigarettes into the sink.
- put a timer alarm nearby the kitchen - to me this helps the tenant keep time on things he/she is cooking. Make it a habit for them to time their stuff and not overcook (or worse left it on and went to sleep, etc).