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Thread: Rich man house

  1. #21

    Default Re: Rich man house

    most likely it will be cash for shares in the investment vehicle which owns the mansion
    宁愿遇见丢失幼崽的母熊,也不愿碰上做蠢事的愚人

  2. #22

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    Quote Originally Posted by 9V-Orion Images View Post
    Billionaires also take loans what.

    Why purchase one property at say 30% of your net worth when you can purchase 10 similar properties with loans.
    Billionaire will clear 1 time. It's not easy for a bank to loan a person 100 mil. If he go bust, the bank also have problem selling the property.

  3. #23
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    When u call someone a billionaire, doesn't mean they have a billion in cash. Just like Singapore got a lot of millionaires but I guess it is networth. Not many have a million dollar in cash handy.

  4. #24

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    Yes, we all know that. But I'm just saying for a person (no talking bout his investment wing) to even consider buying a 300 mil property, how much declare income are we talking about here? To get a say 200 mil loan?

    So my point is if this billionaire is buying for his own stay, my stand is that he will pay 1 time.

    Assuming this is his 2nd property, needs to pay 300k in stamp. If 3rd best still.

    Madness....

  5. #25

    Default Re: Rich man house

    Smart property investors never own a property outright. Investment vehicles and holding companies are used.
    Why?

    It may be possible to avoid stamp duty by selling the vehicle instead of the property. A sale of company shares might be taxed less. You can hold 10 properties under 10 vehicles and have 0 under your own name so no need pay incrementally higher taxes...hmmm.

    Well I am not a property lawyer or biz lawyer or tax consultant though...i believe this is how it works.
    宁愿遇见丢失幼崽的母熊,也不愿碰上做蠢事的愚人

  6. #26
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    Default Re: Rich man house

    For a multi-billionaire who can afford to buy a 300 Million SGD ppty, of course he would have more than 2 houses already.
    Buyer cannot be only a billionaire. Because 300 Million is 30% of his net worth. Too much to spend in one go.
    Has to be a multi-billionaire. Someone who has say, for example, 30 billion SGD.

    Mr. Wingtai may be trying to push the envelope. In the hope that by establishing new upper limit benchmark for property, it will help to raise all of the other new property prices in SG. This will benefit him, being a developer.

    There are other similar attempts, such as $1 Million HDB flat resale purchase and so on.

    Regardless of the dollar amount, whether $1 Million ppty or $300 Million ppty, it is nevertheless a LOW CLASS trick.

    Something that Mr. Wingtai should never have stooped down to try.
    Last edited by ricohflex; 13th April 2013 at 10:01 AM.

  7. #27

    Default Re: Rich man house

    Quote Originally Posted by ricohflex View Post
    Regardless of the dollar amount, whether $1 Million ppty or $300 Million ppty, it is nevertheless a LOW CLASS trick.

    Something that Mr. Wingtai should never have stooped down to try.
    i don't think it's about class but about $

    what's low class? Owning lots of property near Orchard then having the political power to redevelop Orchard area as a major shopping mall, secondary business district, etc...something to think about.
    宁愿遇见丢失幼崽的母熊,也不愿碰上做蠢事的愚人

  8. #28

    Default Re: Rich man house

    Quote Originally Posted by Shizuma View Post
    Smart property investors never own a property outright. Investment vehicles and holding companies are used.
    Why?

    It may be possible to avoid stamp duty by selling the vehicle instead of the property. A sale of company shares might be taxed less. You can hold 10 properties under 10 vehicles and have 0 under your own name so no need pay incrementally higher taxes...hmmm.

    Well I am not a property lawyer or biz lawyer or tax consultant though...i believe this is how it works.
    Yes, this is one of the ways. My friend's uncle owns many properties but none under his name.

    It's a rich man game. Your lawyer and Tax Professionals will advise you what to do.
    Last edited by Jedi; 13th April 2013 at 04:53 PM.

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