How to tell savvy investors from average ones?

untitledEating out in Orchard on a Saturday evening, we just placed our order when my husband noticed something special about the restaurant.

“The owner of this place did hire pretty waitresses around.”

“Pretty? Where?”

“See the one over there near the counter.”

I looked in his direction and saw a voluptuous figure at the far end of the restaurant.

“That one really looks sexy. But she is, strictly speaking, not a woman.”

“Not a woman? What do you mean?”

At that moment, the ‘waitress’ walked over to our table to serve the drinks. Now at a close distance it was obvious that, behind the heavy makeup, she’s a transsexual.

“How can you tell it when she’s so far away from us just now?”

“Of course I can. Because all women can tell their own kind.”

It’s like the mother can surely tell the differences of her two identical twins. A plastic surgeon can always tell whether a celebrity has a nose job done. A gemologist can infallibly tell whether the stone is a real diamond.

The only ones who have no clue are the outsiders or the amateurs.


Telling real property investors from fake ones

The same applies to property investment.

Some may brag that they have made lots of money from flipping properties, buying high-profile projects or acquiring properties in overseas countries.

Some may claim that they are ‘successful’ property investors going from broke to owning a multi-million property portfolio, buying properties with no money down or using other people’s money.

Some may promise that everyone can get rich quick by going after their exclusive and super high return rare opportunities in any market.

The stories really sound sexy. But they are, strictly speaking, not investors at all. Because they make more money from the commissions and markups of selling these ‘high return’ deals than from the actual income or return of these projects.

Savvy investors are the ones who can spot the hidden gems from the rough. They can naturally smell a good deal. They are a breed apart from the fake version in many palpable ways.

Go to any sales gallery or flat viewing and they know what to look for and how to ask the right questions.

Show them the sitemap and layout plans and they know how to pick the best block and best unit in the whole project (exactly what we teach at How to Buy Good Quality Properties workshop).

Show them the numbers they ask for and they know how to calculate the net return of the property.

Give them the facts of a shortlisted property and they know how to negotiate for a good deal.

Sign on the dotted line on the Offer to Purchase and they know which bank and lawyer to work with to ensure a smooth transaction.


Telling savvy property investors from average ones

Are people who bought high-end properties savvy investors?

Recently, Bloomberg’s article “Saving Singapore’s Wealthy” disclosed how banks in Singapore identify wealthy clients simply by the value of their home rather than their net worth or investable fund.

This selected group of privileged customers are signed up as ‘accredited investors’ and are qualified to invest in high-risk high-return products, despite the fact that they have borrowed heavily to fund their home.

With hunger for investment alternatives amid low interest rates, they bought lots of energy bonds (think the doomed Swiber Holdings). We already know what happen next – children’s college fees, retirement savings and emergency funds are gambled away just like that.

We can’t tell whether a buyer is well-to-do or an experienced investor from his home address. Some people I know have built an impressive property portfolio for rental income but still prefer to stay in an HDB flat. Similarly, people who have purchased several private properties do not necessarily mean that they are very good in the trade.

Below is a table showing the primary differences between a savvy property investor and an average property buyer.

average-vs-savvy

I am still in my journey to learn and train myself to be a savvy property investor. But I can easily tell whether someone is a value investor in properties by asking him three simple questions:

1. What have you bought?

2. When did you buy them?

3. How much did you buy them for?

If he is not keeping the properties for the long-term, a fourth question will be ‘How much did you sell them for?”.

This weekend I am organizing a Property Investor Roundtable Luncheon for Property Club Singapore. I have invited a group of experienced property investors to share their views and knowledge on ‘Opportunities in New Development Areas’. I know all of them personally and I can say that they are all authentic property investors who meet the above criteria.

I look forward to learning from all of them!

How to tell real property bargains from fake ones?

imag1641Flying back from Jakarta in the evening, I managed to get a few hours of sleep before boarding the early morning flight to Perth for a week-long family trip.

The first part of the vacation was a farm stay in the countryside. After we checked in and made our way to our rented cottage, I could finally rest my body and soul.

I looked outside the windows and found myself being surrounded by cows, sheep, emus and chickens. While I was watching the farm animals, they were also staring at an exhausted ‘animal’ lying on the couch.

The next morning this exhausted animal was almost fully recharged and followed the family to feed the ‘far more energetic’ farm animals.

During the sheep feeding session, a confused sheep suddenly tried to ‘kiss’ the chest of my younger daughter. Apparently, it had mistaken the logo on her jacket as the dried leaves because they were the same color.

I suddenly recalled a similar incident during a school outing to a goat farm in Singapore. We were feeding the goats when one of them wanted to ‘eat’ my child’s windbreaker too. The kindergarten teacher immediately pulled the cloth out of the goat’s mouth.

That left me wonder: Can the sheep really tell if a wolf in sheep’s clothing is in the herd?


Four questions to judge good or bad investments

Similarly, can property buyers tell a good buy from a lousy investment when approached by the marketers?

If they can, why are there so many regrets buying the wrong properties and so many complaints investing in the doomed crowdfunding projects? (If you miss it, read my recent posts “4 things buyers wish they knew before buying a property” and “Can’t answer these 5 questions? Stay clear of crowdfunding”.)

How many of them are like the innocent sheep that can’t tell the differences between the grass and a piece of cloth and choke after eating the wrong thing?

How many of them see all projects or units marketed by developers or agents as good property investment regardless of the quality, location, pricing and return?

The SMART Expo will be back in Singapore again over the weekend. After speaking in three consecutive expos, I am not invited this time.

I am not surprised.

I did manage to draw a crowd every time. But it was awkward for a speaker like me who talked about risks of buying overseas properties and reasons of avoiding unprofitable investments when the sponsors had paid thousands to market overseas projects and alternative investments there.

Just in case any blog reader asks me the ‘is it a good investment’ question after visiting the expo, here are the four questions to ask yourself. And pardon me to repeat myself again.

1. Who are the other buyers?

Are they sophisticated buyers or just laymen of the market? Are they savvy investors or just an average joe like you?

2. Can you trust them?

How much do you know about the developer/marketer? Can you trust that it will complete the project on time and with acceptable quality? Will it run away when the market tanks?

3. Why are the locals not buying?

Why is the attractive investment not being snapped up by the locals? Why the developer/marketer has to spend so much time, money and efforts to go overseas, repackage and market to you?

4. Where is the secondary market?

Is there a resale market and a ready pool of buyers for these type of investment projects? Can you easily find anyone to buy from you or sell it back to the marketer next time?


Two ways tell a good bargain from a bad deal

It is not uncommon to see some buyers boasting that they just bought a good property or a gem with high potential – while it is very obvious that they are getting the short end of the stick.

There are two simple ways to immediately tell the good deal from a bad one:

1. Above or below valuation

You can always check valuation online (URA or SRX) from the last few transactions of similar properties.

That’s why you can never enjoy good value-for-money if you buy brand new units in uncompleted projects directly from developers when you are asked to pay ‘future prices’ much higher than similar properties nearby.

For a more thorough research, I would recommend checking past transactions all the way back from the last property down cycle.

2. Positive or negative return

There are different methods to calculate the return of a property. A simple way is to calculate the cash-on-cash return for the first year.

Cash-on-cash return = 1st year cash flow – Total cash investment

1st year cash flow = (monthly rent – loan repayment – management fee – property tax – insurance) x 12

Total cash investment = downpayment + stamp duties + legal fee + renovation + miscellaneous expenses

Remember what I said in my book No B.S. Guide to Property Investment?

If there is a probability formula of finding a good deal, it may come one-third from the buyer’s insight, another one-third from the buyer’s discipline (hard work, patience, persistence, etc.), and the last one-third depending on market conditions and opportunities.

And of course, buying the right property at the right time makes all the difference here.

Let me share with you how to tell savvy investors from average ones in my next blog post. Until then, tell me how you know you’ve found a real property bargain or a fake one.

3 investment lessons from the movie Me Before You

me-before-youI was watching the movie Me Before You on a flight.

There was a heartbreaking scene when Will Traynor insisted on ending his life despite all the efforts of Louisa Clark to show him that there were still reasons to continue living.

“But…I need it to end here. No more chair. No more pneumonia. No more burning limbs. No more pain and tiredness and waking up every morning already wishing it was over. When we get back, I am still going to go to Switzerland. And if you do love me, Clark, as you say you do, the thing that would make me happier than anything is if you would come with me. So I’m asking you – if you feel the things you say you feel – then do it. Be with me. Give me the end I’m hoping for.”

I couldn’t stop tears rolling down my cheek.

At this untimely moment, a flight attendant stood in front of me and asked me the irrelevant question “coffee or tea, please?” while waiting for an embarrassed passenger’s answer.

Didn’t she see that I need a tissue rather than a coffee?

The touching story of Me Before You resonates with the complicated world of investment in at least three facts:


1. When something unfortunate happens, the whole game changes and the world is never the same again.

Traynor had been living a good life – being young and attractive, handling big deals in his work, playing extreme sports, and enjoying nice vacations. He had everything men wish for until a tragic accident happened and changed everything. From that moment onwards, “getting through each day requires almost superhuman strength”.

In the past two decades, we have our fair share of unfortunate events that affected everyone in one way or another. Things can’t be intact any more after that fatal day.

  • Widespread bankruptcy and a high unemployment rate of 4.4 percent caused by the Asian Financial Crisis from July 1997.
  • ‘Terrorist attack’ became a generic term in newspaper headlines since September 11, 2001.
  • Retail sales fell 10 to 50 percent and many retail and restaurant chains closed down after the outbreak of SARS in February 2003.
  • Many doomed investments never really recovered from their losses after the sub-prime crisis that started in December 2007.


  • 2. Nothing can save the situation when rules of the game have changed.

    To some property buyers or investors, the day the whole property game changes is the introduction of TDSR (Total Debt Servicing Ratio).

    However, fine-tuning the TDSR rules from September 1 doesn’t guarantee that home owners and investors can obtain the bank’s approval and successfully refinance their housing debts.

    It’s because rules of the game have changed. Banks have been much more cautious in borrowing since 2013. They are not going to benefit their home mortgage department and risk dealing with potential increase in bad debts.

    And this doesn’t apply to new loan applications which are still under the governance of the TDSR framework. Potential buyers are still stuck if their debt obligations are above 60 percent.

    Frankly, the announcement of MAS (Monetary Authority of Singapore) serves to kick the ball to the court of the banks in case interest rates climb up later this year.

    Even relaxing other cooling measures is not going to revive the property market. Not even the tweaking of Additional Buyer’s Stamp Duty and Seller’s Stamp Duty.

    Because times have changed. The economy has slowed down. The supply and demand gap has widened. The buying craze has died down.

    It’s just like Clark’s ambitious plan to take Traynor to horse racing, a concert and a vacation in Mauritius – all in vain to convince Traynor that his life was worth living.

    Clark’s biggest mistake was that she forgot Traynor was no longer the same person before the accident. He was no longer that invulnerable ‘me’ before but a sensitive and bitter patient now.

    Just as what Traynor’s ex-girlfriend explained to Clark,

    “You know, you can only actually help someone who wants to be helped.”


    3. It is much more painful to lose something you once own, then you never own it before.

    Traynor didn’t have to die. Despite the fact that his was immobile, he still lived in a beautiful castle, with the company of his loving parents, a personal doctor and a lovely caregiver who’s in love with him.

    But what made it unbearable was the painful memories of his glamorous past.

    It is similar to someone being a winner all his life. But suddenly one day he is under the curse to be a loser for the rest of his life. It is tough to be put in hell when one used to be living in heaven.

    In investment, it is more painful to end up with losses and debts after the taste of profits. In reality, the buying regret is more unbearable than the missed opportunity.

    Many property owners who bought at the peak of the property market in 1996 got burnt and lost their investment. Some took almost 15 years to just breakeven and finally saw the prices of their properties recovered.

    Investors who went after the high-end property market in 2007 were still stuck with properties that they paid for $4,000 psf. Average loss is $1 million for units purchased in 2007 and sold recently.


    “Some mistakes … just have greater consequences than others. But you don’t have to let the result of one mistake be the thing that defines you,” Traynor told Clark.

    We all make mistakes. But how many of us can learn from our mistakes and avoid repeating them again?

    What is so ‘grande’ about Lake Grande?

    IMAG1145During the first weekend launch, MCL Land managed to sell 436 units or 60 percent of 710 units at Lake Grande. Buyers paid an average price of $1,368 psf for the units. Singaporeans accounted for 17 out of every 20 buyers.

    Two weeks later on National Day, the developer has moved a total of 470 units. Sales has slowed down significantly since then. According to the URA records, 483 units or 68 percent were sold as of today.

    The sales performance is a far cry from MCL Land’s launch of the 738-unit J Gateway on 28 June 2013, when buyers jumped on the Jurong Lake District bandwagon and submitted 1,400 blank cheques for balloting. The project was sold out on the first day of launch with the ‘lucky ones’ forked out $1,400 to $1,800 psf for their units – only to have the government’s Total Debt Servicing Ratio thrown in their face on the same evening.

    (Lesson learned: Next time remember to call an acquaintance who works in the relevant government department before taking the plunge.)

    However, the results are still better than another Jurong Lake project next to Lake Grande, also by MCL Land. On the first day of launch in April 2014, the developer only managed to move 180 out of 696 units in Lakeville at an average price of $1,300 psf.


    What is the hype about Jurong Lake District?

    During the National Day Rally, our Prime Minister mentioned Jurong Lake Gardens and the new Science Centre in the new Jurong Lake District.

    If you can still recall, it was also in his 2014 National Day Rally that PM Lee first showcased ‘Jurong Lake at sunset’.

    Two years on, what have we completed for the Jurong Lake District plan?

    Let’s go back to the time when the project was first announced with the draft Master Plan 2008. So we can at least say that the Jurong Gateway part, one out of the three precincts, , is more or less done, leaving only the Lakeside and the Lakeside Gateway targeted to complete beyond 2020.

    By then, there should be three Jurong Lake Gardens and the New Science Centre. On the side of the Jurong Gateway, we can expect the Lakeside Village (for F&B, retail and hotel), a second Central Business District, and a High Speed Rail Terminus to Kuala Lumpur by the year 2026.
    jurong lake districtWill properties inside the Jurong Lake District command high prices in the future? The answers are in my old blog post “Is Jurong Lake District the next hotspot for property hunting?


    What’s wrong with the project location?

    The sales gallery of Lake Grande is located at Jurong East Street 31 and a short distance away from Chinese Garden MRT. But the actual site is in between Boon Lay Way and Jurong West Street 41. The entrance is on a side road known as Jurong Lake Link. It takes only 5 minutes’ walk to the Lakeside MRT station.
    Lake-Grande_mapThe 17-storey project overlooks the scenic Jurong Lake. However, the artist’s impression of ‘where stunning lake views surround you’ stated in the sales brochure has conveniently missed the MRT track and the busy two-way three-lane traffic along Boon Lay Way which are standing in the way of the stunning lake view.

    In other words, units facing the lake will have a tradeoff between a fantastic view from the lake and the air/noise pollution from the vehicles.

    The neighboring project The Lakeshore is built on top of a multi-storey carpark, with units on the lowest floor just above the MRT track.

    For Lake Grande, it will be an underground carpark. According to the property agent, the project will be built one to two metres above the ground. That means units on lower floors may have the potential to be below or on the same level of the MRT track, with owners seeing the traffic or trains rather than the lake view.


    What is not so ‘grande’ in Lake Grande?

    Buyers like me can’t help but wonder what the word ‘Grande’ means in the project name Lake Grande. We know it means large in Italian. Perhaps it implies the vast Jurong Lake or the 360-hectare Jurong Lake District. Or someone from MCL Land simply likes Ariana Grande.

    But it definitely has nothing to do with size and space of the project.
    IMAG1152
    1. Space not enough

    1-bedroom unit is 409 sq ft and 614 sq ft is already a 2-bedroom unit. 3 bedrooms have to fit inside 904 sq ft.

    Mind you, the sizes above include the big balconies and aircon ledges which leave even smaller actual usable area in the units.

    If owners are targeting the expatriates sending their kids to the Canadian International School nearby as tenants, the unit size must be over 1,000 sq ft to make it a decent living space for a family. That leaves only 51 units for the 4 and 5-bedroom units which can just fit the bill.

    Despite being a 9-year-old project, units of the neighboring project The Lakeshore are obviously more spacious than those in Lake Grande – with 2-bedrooms above 900 sq ft and 3-bedrooms above 1,100 sq ft.

    Above all, there is no balcony in this project. And units are selling at just above $1,000 psf. The Lakeshore sounds a better buy in terms of both price psf and ‘quality of the square foot’.

    Even Lakeville which will be TOP next year comes with more spacious units and are selling at an average price of $1,250 psf.

    2. Carpark lots not enough

    Lake Grande is a big project with 710 units. But the underground carpark only offers 568 lots. Only 80 percent of residents are entitled to one carpark lot.

    So do we expect the rest of the 142 owners and other family members of the 568 units to take trains, buses or boat across the Jurong Lake to get to school or work?

    3. Finishing not good enough

    Although the sales brochure mentions ‘quality finishing and top-of-the-line fittings’ for a ‘luxurious home’. The living rooms have marble look-alike homogeneous tiles instead of marble flooring. Bedroom floors are laid with laminated timber flooring rather than parquet flooring.
    IMAG1160IMAG1162Bathtub is absent in this project. There is also no utility area in all the 1 and 2-bedroom units. Expect to air wet laundry in the balcony.

    4. Distance not long enough

    The property agent claimed that the block-to-block distance between The Lakeshore and Lake Grande is 30 metres while the block-to-block distance between Lakeville and Lake Grande is 40 metres.

    He may be too optimistic.
    IMG-20160809-WA008An examination of the actual site shows that the construction site of Lake Grande is at most 15 metres away from the nearest block in Lakeville.

    Given that MCL Land has placed the top bid for the Jurong West site at S$338.12 million or S$630.13 psf, the developer has all the reasons to maximize the site to build as many units as possible.

    To preserve your privacy, avoid buying units on the far left and far right of the project.


    Which are the best units and layouts?

    There are 42 different units in four blocks (Block 2, 6, 8 and 10). Almost all the units in Lake Grande are northeast or southwest facing.
    sitemap
    1. Units with west sun

    – Avoid units 9 and 19 which have direct west sun in living room and all the bedrooms.
    – The balcony of units 29, 30, 40 and 41 face west sun.

    2. Units facing inside

    – Beware of the distance with the opposite block. There is a lack of privacy as units overlook each other at a close distance.
    – Units affected are 1, 2, 3, 12, 13, 27, 28, 29, 38, 39 and 40.

    3. Units facing outside

    – Avoid unit 8 and 18 which are too close to the street with heavy traffic from Boon Lay Way.
    – Avoid units facing the back in block 8 and 10 which face HDB blocks along Jurong West Street 41 and have no view.
    – Avoid unit 23 and 24 for the tennis court and ‘Main Distribution Frame’.
    – By all means avoid unit 34. Opposite is the rubbish collection centre which is next to the substation and genset.
    – Also there is a childcare centre on the ground floor of unit 34. Expect some noises during school open and dismissal time.

    4. Best unit of the project

    My choice is the 2-bedrooms on unit 14 (despite the inauspicious number) for the following reasons:
    – The living rooms and bedrooms are south facing and with unobstructed view.
    – Can choose units on higher floors overlooking the Jurong Lake yet are a considerable distance away from Boon Lay Way.

    5. Best layouts of the project

    The biggest problem of layouts in Lake Grande is the big balconies and aircon ledges that make the already tiny units even smaller.

    Buyers are advised to pick layouts with no balcony for the bedrooms in order to enjoy more usable space in their units, for instance, layout B3 and B4 of 2-bedrooms and layout C3 of 3-bedrooms.


    What is the final verdict?

    Let me bring back the PCS (Property Club Singapore) Rating System to have a fair evaluation of the Lakeside Grande according to the 7 important criteria.
    Lake-Grande-PCSA final piece of advice: There is no lack of condominium projects in Lakeside. Lake Grande won’t obtain TOP until year 2019 or 2020. The Jurong Lake District will complete beyond 2020. High Speed Rail won’t be ready until 2026. From now till then, take your time to take your pick.


    Visit the Facebook page of Property Club Singapore for more pictures of the Lake Grande construction site and show suites. Don’t forget to Like us on Facebook!

    How far will you go for your Olympic Gold?

    Singapore is in celebration mood when Joseph Schooling made history after winning Singapore’s first Olympic gold medal.

    The significance of Schooling’s success is much more than bagging the first gold for Singapore.

    It is the touching story of a young boy who met and inspired by his idol, the reward after his hard work to compete in the same contest as him, and the happy ending of the magic moment to beat him.

    He reminds all of us who are stuck in the mundane world that we can choose to do something different; that it is important to aim high in life; that we should never give up; that childhood dreams do come true.


    Winning gold despite all odds

    Exactly two decades ago in 1996, windsurfer Lee Lai Shan won the only Olympic gold medal for Hong Kong during the Atlantic Olympic Games.

    Growing up on the island of Cheung Chau where most inhabitants are fishermen, she took up windsurfing at the age of twelve. Her childhood dream was to be world’s number one in the sports.

    However, Lee’s journey to windsurfing gold was far from smooth sailing.

    There was almost no funding from the Hong Kong government. Nurturing local athletes was not the colony’s priority.

    She couldn’t find sponsorship from large corporations either. They would rather sponsor celebrities than athletes.

    Everything had to be self-funded.

    One winter, she flied to Europe for training with her coach and another national windsurfer Sam Wong (her boyfriend at that time). To save money, three of them had bread for lunch. Hot meals were only available at dinner.

    They couldn’t afford to stay in hotels. Under sub-zero temperatures, a tent was set up outdoors. Every night they used rock, paper, scissors to decide who slept inside the car or on the cold floor outside.

    In 1990, she represented Hong Kong to participate in Europe’s Windsurfing World Championship, the most important event of the sports. The organizer wanted to invite more non-European countries to compete. That antagonized the European contestants. One of the coaches said,

    “Those athletes from Hong Kong are rubbish. They shouldn’t even enter the event.”

    From that moment, she vowed to prove herself whenever she was given the chance.

    But life was tough. Despite winning at many international competitions, the government’s athlete subsidy was a humble sum of HKD2,000 (SGD400) a month. Training and preparations for events required lots of money.

    Lee Lai Shan and Sam Wong knew that they could only afford to have either one of them to continue pursuing the windsurfing dream.

    To support Lee’s dream to be world’s top windsurfer, Wong gave up his own.

    For years he did all sorts of odd jobs to raise money for his girlfriend. Day and night he would help Cheung Chau fishermen to mend their fishing nets for some extra cash.

    windsurfing_goldLee finally won her gold medal at the Women’s Sailboard category at the 1996 Summer Olympics.

    There was no million-dollar prize money waiting for her. But politicians and tycoons placed ostentatious congratulatory ads in local papers. Organizations showered her with sponsored gifts.

    At the press conference, she told the media emotionally,

    “I prove that Hong Kong athletes are not rubbish!”


    Secrets of having no regrets

    John B. Izzo’s The Five Things You Must Discover Before You Die is one of the best books I have ever read.

    To learn the secrets of living a purposeful and fulfilling life, the author interviewed 235 wise elders aged 59 to 105 who claim that they have lived a meaningful life and have no regrets.

    Izzo finds that there are only two things that humans want most: to find happiness and to find meaning.

    You will find happiness if you put love as priority in your life and give more than you take in this world. You will find meaning if you can be true to yourself, follow your passion and leave no regrets.

    These two things have nothing to do with money and material things.

    You may have worked hard in your life to buy a BMW. But your BMW won’t come and visit you when you are in hospital or in an old folk’s home.


    Pursuing your childhood dream

    In early 2016, a skincare brand conducted a survey on 5,400 women in 14 countries. Results showed that one in two respondents have given up on their dreams and are unsatisfied with their current lives.

    Women from Japan, Korea, and Singapore are the top three countries with women giving up their dreams. Lack of financial support, fear of leaving comfort zone, and dreams not fitting into traditional definitions of success are the main reasons for not pursuing their childhood dreams.

    Compared to their western counterparts, only 30 percent of women in the US and UK have to give up their childhood dreams.

    To encourage women to pursue their dreams again, the brand launched the ‘Dream again change destiny campaign’ with a heartwarming 4-minute commercial (watch it on youtube).

    As a child, I don’t just have one dream. I have many.

    I’ve dreamed of traveling around the world. I end up traveling most of the time for business.

    I’ve dreamed of staying at my own place one day. I end up buying five properties in five years.

    I’ve dreamed of being a novelist. I end up writing a book on property investment.

    Do you remember your childhood dream? How far have you gone for it?

    Have you forgotten how to dream?

    Should we give properties to our children?

    Aug11'16Time flies. My younger girl just turned five today.

    Still remember my old blog post “A letter to my new born baby“? I thought I just wrote that yesterday?

    Five years on, when her little hand reaches for mine; when she holds me tight and plants a big kiss on my lips; when she looks me in the eyes and says ‘Mommy I love you’, I realize I must have done something really right in my last life.

    Wherever I travel, I buy her stickers printed with her favorite cartoon characters. We often review our proud collection together, recalling when, where and how much we got them.

    With fellow property investors, we review a different collection – our portfolio of properties acquired over the years – recalling when, where and how much we got them.

    Sometimes we talk about buying properties for our children. One would have bought a bachelor pad for the son. Another plans to set aside two houses for each of the two kids. Some are waiting for the lifting of Additional Buyer Stamp Duty to buy something suitable. A few are saving for the deposit.

    When I ask people why we have to help our kids to buy properties, the three most common reasons are:

    1. Property prices have climbed faster than inflation. Their children might not be able to afford one in the future.

    2. We love our kids and give them only the best, including food, clothes, housing and education. Why not properties?

    3. When we pass on one day, it’s good to leave something behind so that they will remember us.

    If we can afford, why not?

    For me, I am hesitant to give any property to my children for three simple reasons:

    1. Hopefully they inherit that property investment gene from me. If not, so be it.

    2. We can lead a happy life even without having the very best. Things we treasure most almost always have nothing to do with money.

    3. It is far more important to impart values and wisdom to the generation. What I want to leave behind is a legacy – not a physical property, but my vision and beliefs.

    I hope they remember me for who I am. Who cares about an old property? The one that has an outstanding loan and desperately need a major renovation?

    You might worry about not buying any property for your children even though you can afford it. If you die without leaving anything for them, they might blame you one day.

    But wait, by that time you have already died. So that’s not a problem anymore, isn’t it?

    In my book No B.S. Guide to Property Investment, I have touched on the legal implications for you and your children if you are buying properties for the next generation.

    One of my favorite Taiwanese writers Liu Yong (刘墉) has just published his latest book to share his advice for the elderly.

    He has been staying in the US for some time now. He says if you tell a lawyer that you want to put your property under your child’s name, the lawyer will ask you to add one special clause – you no longer own the property but you always have the right to stay there.

    One day your child will get married. You have no guarantee that you can get along with your son or daughter-in-law. With that special clause, at least you won’t end up in an old folk’s home.

    Another advice: if you want to share your wealth with your children, do it early and timely. Our life expectancy is getting longer. By the time we pass on, our next generation are most likely in their 60s. They no longer need that wealth in their retirement years. But they wish they had that when they were struggling to pay bills while supporting a young family.

    Another dilemma: You tell your children to study hard, get a good job and they will be able to enjoy what they have later in life. Don’t be surprised that they will ask you why. If you have already bought them a nice place to ensure that they will have a good life, why do they need to study hard and get a job?

    Lastly, you might want to take some hints from the book The Millionaire Next Door to understand how the millionaires manage to raise successful adult children.

    1. Never tell children that their parents are wealthy.

    2. No matter how wealthy you are, teach your children discipline and frugality.

    3. Assure that your children won’t realize you’re affluent until after they have established a mature, disciplined, and adult lifestyle and profession.

    4. Minimize discussions of the items that each child and grandchild will inherit or receive as gifts.

    5. Never give cash or other significant gifts to your adult children as part of a negotiation strategy.

    6. Stay out of your adult children’s family matters.

    7. Don’t try to compete with your children.

    8. Always remember that your children are individuals.

    9. Emphasize your children’s achievements, no matter how small, not their or your symbols of success.

    10. Tell your children that there are a lot of things more valuable than money.

    Really, you don’t have to leave your children a legacy. They are your legacy!

    4 things buyers wish they knew before buying a property


    regretThe radio is playing Cher’s “If I Could Turn Back Time” when an email from a blog reader popped up on my screen,

    “Property Soul You’ve Got Mail.”

    It’s another message about a home buyer’s remorse.

    Every week there are so many messages on disappointment and regret after buying properties. They all go like this:

    “I wish I had … before I bought …”

    “Why didn’t anyone tell me …”

    “If only we knew …, we wouldn’t have …”

    “We should have … but we had no idea …”

    So many look-backs. So many regrets. What’s the use of crying over spilled milk?

    The killing part is that these messages all end with an inevitable request for advice like “What do you think I should do now?”, or “Do you think I should … or … “.

    How do I know? I am not you.

    I have been advocating for prudent investment in private properties in my blog since 2010. I am doing my job as a nutritionist, not a surgeon. I take preventive measures, not remedial actions.

    Why don’t buyers do some research on the market? Why can’t they check with the bank first before placing a deposit? Why do people let their impulse and greed take over?

    If only they knew the 4 facts of property investment before taking the plunge, there would be less home buyer remorse, and I would have received far less regret purchase messages.


    1. Showflat is for display. Bare unit is for your stay.

    You said the showflat in the sales gallery was so nice. You couldn’t help but imagining yourself staying there too.

    There is nothing wrong visiting new launch over the weekends. There is also nothing wrong dreaming about the high life staying in a posh condominium. But please wake up and get back to life after you step out of the showflat.

    “The truth is like an alarm clock. You might not want to hear it … but it will wake you up from your dreams and bring you back to reality.”

    – Anonymous

    Look beyond the bells and whistles. Things that are glamorous on show are often humble in reality.

    After you collect the key to your bare unit, you suddenly realize that all the nice views and for display only ID designs at the showflat are all beautiful misunderstandings. The space constraint, developer defects, poor workmanship, etc. are the reality you have to deal with.

    Like lovers when they first met, they show their best to impress. But after they sign on the dotted line, they begin to show their true colors with eyes wide open.

    You get the picture?


    2. Properties are not safe investment. Fixed deposits are.

    You said you want to develop a habit of regular compulsive savings by putting your money into a property and paying the monthly mortgage.

    All adults should have no problem training themselves to put aside money for a rainy day. If you lack that discipline, consider giving a considerable monthly allowance to your parents or better half.

    Forget the BS saying that money left in saving accounts will be eroded by inflation. Stop saying how property prices have jumped multiple times in the last decades. Singapore has long passed the exponential growth stage evolving from an emerging to a developed country.

    Do your maths: Property prices have fallen 9 percent since September 2013. Singapore inflation rate is 2.4 percent in 2013. After 2013, it is hovering around 1 percent. Which side of your money is eroding faster: your property investment or your bank savings?

    Just take a look at the performance of currencies in our neighboring countries, who won’t wish that they are holding the strong Singapore dollar?

    Remember property prices dropped 44.8 percent from its peak in 1995? Would you rather hold cash in a low interest rate environment or jump on the bandwagon to buy overpriced properties?

    An article in the Edge Property pointed out that in the last quarter 1 in 3 sellers of high-end properties incurred losses, with the majority bought in 2007 and 2010. Average loss is $1 million for units purchased in 2007.

    In the city fringe, 1 out of 8 resale deals are in the red. In the mass market, 9 percent of secondary market transactions is unprofitable. A majority of the units were purchased in 2011.

    It sounds ironic but how many investors can survive a property downturn or a housing bubble burst with profits higher than interest earned by an average Joe from his fixed deposit?


    3. Income and appreciation are not guaranteed. But fees and taxes are certain.

    You said you joined the huge crowd of buyers because it was rare for retail units in centrally-located malls for sale.

    You bought a unit at Alexandra Central, a 99-year hotel and retail development next to IKEA@Alexandra, during the launch on January 21, 2013. It was just after the government introduced the 7th round of cooling measures on January 11 when Additional Buyer Stamp Duties were raised to 7 percent across the board.

    Didn’t you read the signs?

    Even though asking prices were a whopping $4,300 to $7,000 psf, all except 2 of the 116 shop units were snapped up on the launch day. One upper floor unit below 200 sq ft even attracted 150 cheques from eager buyers.

    How much rent can you fetch from a 200 to 400 sq ft shop in a 3-storey shopping mall? How many bowls of noodles do you need to sell in a day to cover the rent? Are you aware that the mall is not even accessible to any MRT station?

    I went there for dinner last month on a weekday evening. A year after the mall was opened in 2015, far more than half of shops at Alexandra Central are still vacant. There are more shopkeepers than visitors. It is that kind of mall that, after you see how quiet the ground floor is, you don’t bother to go up the second and third floor.

    Supposedly you bought a 400 sq ft shop at $1.8 million and pay a monthly loan of $3,200, if you are lucky to find a tenant to pay a rent of $3,200, your return is close to zero.

    But wait, you haven’t taken into account the high monthly maintenance fee and property tax, on top of the stamp duties and legal fee you already paid.

    In this market, it is also not easy to find a buyer to take over a vacant unit in a quiet mall. Above all, commercial properties are subjected to a 5 to 15 percent Seller Stamp Duty in 3 years.

    Honestly I don’t think any buyer benefited except Chip Eng Seng Corporation. Because of their best-selling project Alexandra Central, the property developer’s quarterly net profit jumped $167.6 million, a 383.9 percent increase from the preceding year.

    Think about generating income and capital appreciation from property investment? Think again.

    In properties, nothing is certain except fees and taxes.


    4. No Freehold is not a problem. No holding power is.

    You said you pay more to buy a freehold property because the value of freehold properties can hold.

    Have you over-estimated the investment value of freehold properties? Just because developers bought the freehold land at higher prices doesn’t mean that it is justified for you to pay a premium too.

    Afterall, the property game is all about affordability and holding power. And did I not mention enough buying the right property at the right time at the right price?

    Don’t complain that you can’t finance or refinance your properties because of the restrictive Total Debt Servicing Ratio. Before you place a deposit, read my 3-3-5 rule again please.

    Both freehold and leasehold properties appreciate in value during good times. The reverse is also true.

    Tenants rent a place for its location, quality and value. They don’t give a damn whether your property is freehold or leasehold.

    No freehold tenure is not a problem. No tenant is.

    How long can you continue paying mortgage, maintenance and taxes when you can’t find a tenant? If you have no holding power, you’ve got to cut loss at certain point of time and let it go.

    Regardless whether your property is leasehold or freehold, it is not ‘free to hold’.


    Don’t buy anything before you attend my Buying My First Private Property Workshop on July 31 or you’ll regret it (again?). Learn all the tips and traps of buying properties from presentations, exercises and group discussions. See you on Sunday!

    Is No Indian No PRC rental discrimination?

    Despicable-Me1
    Right after settling a social media boo-boo created by an Aussie employee, 99.co’s CEO Darius Cheung was quick to divert the media’s attention to another sensitive topic – the alleged discrimination of Singapore landlords on Indians and PRC tenants.

    Telling his story in a blog post, Darius shared how they had been rejected by 20 percent of the landlords just because his wife is an Indian. At the end, they had to pay 15 percent more to rent a place.

    After the unpleasant personal experience, Darius launched a ‘Say No to Racial Discrimination’ campaign. From now on, listings with ‘All Races Welcome’ rather than ‘No Indian No PRC’ will be prominently featured on the property portal.


    Can landlords choose their tenants?

    Frankly, I am surprised by the initiative of 99.co.

    No one can deny the importance of racial equality. But is the local rental market a right platform to fight for the cause? Or has 99.co just opened a can of worms?

    We are not discriminating against any race here. This is locals versus foreigners (or foreigners from certain countries). In Singapore, most landlords are locals and majority of tenants are foreigners. With our HDB home ownership scheme, we have far more owners and landlords than tenants.

    Article 12 (2) of Singapore’s Constitution states that ‘no discrimination against citizens of Singapore on the ground only of religion, race, descent or place of birth’.

    Unfortunately, this only applies to ‘citizens of Singapore’, not non-citizens residing in Singapore.

    Racial harmony is a core value in multi-cultural Singapore. But political propaganda and personal preferences are two different things.

    In fact, nationality is only one out of many leasing criteria. Singapore landlords also have concerns over pets, smoking, profession, family size, sexual orientation, relationship of a couple staying together, etc.

    The question is: When I am investing my money in a rental property, and I am paying the housing loan, management fee and property tax, do I have the right to pick my tenant?

    If my exclusion list is discriminatory, what about those resorts that are not accepting tour groups from China, or only accepting those from China’s tier 1 cities? Aren’t these also discrimination?

    What about the taxi driver who refuses to drive me home, or that store owner who doesn’t want my business?


    Johnny-English
    What’s wrong with that curry smell?

    Do you know what they call Indians, Pakistanis, Bangladeshi, Nepalese, etc. in Hong Kong? They just give them one name: South Asians.

    Due to the legacy of British colonial rule, Hong Kong has 61,400 South Asians. Despite being the third generation and speaking fluent Cantonese, they still face a lot of discriminations in education, employment and housing.

    It is almost impossible to find any local Chinese landlord who is willing to rent to a South Asian. A recent documentary interviewed landlords who claim that the strong smell of curry South Asians prepare is a source of neighbor complaints. It is also impossible to get rid of that smell after they move out.

    Sounds familiar? Remember the curry war between two neighbors and the “Cook and Share a Pot of Curry” campaign in 2011? We even have a story on BBC News.

    I like to cook different types of Thai curry too, especially panang curry, massaman curry, green curry and red curry. Once I even bought the authentic small garlics, green and red chillies from a Bangkok wet market to prepare the real thing. And I like to open the kitchen doors to let the smell notify my two little ones who can’t wait to taste their favorite dish.

    Can you imagine the strong smell coming from my house? My neighbors can enjoy my curry smell for free and no one ever complain.

    Is strong smell a personal preference, or just an excuse out of discrimination?


    What are landlords and tenants looking for?

    Being a tenant for 7 years and a multiple-property landlord since 2002, I can empathize and understand the concerns of both parties.

    It is not the just the landlords who are picking the tenants. The tenants are also choosing the landlords.

    As a tenant, I am looking for a nice and reasonable landlord.

    Reasonable means my landlord does not come over to spot-check all the time and let me stay in peace. Reasonable means my landlord does not give me old furniture or appliances that he wants to dispose them. Reasonable means my landlord understands the kitchen is not for display only but can be used for cooking.

    As a landlord, I am looking for a good tenant.

    Good implies my tenant always pays his rent in time and in advance. Good implies my tenant doesn’t give me any trouble during his stay in my property. Good implies my tenant will return the unit in its original condition at the end of the contract.

    When I first started as a landlord, I didn’t mind any race and nationality. My preferences are gradually formed after years’ of experiences, both good and bad ones.

    Now I know exactly which nationalities and what profiles of tenants will give me peace of mind, and vice versa. And I can tell you that the background of the tenant is more important than the nationality.

    Leasing a property is based on mutual agreement. We can’t avoid the fact that landlords have stereotypes of different nationalities, their living habits and ways to upkeep their house. We can educate the public to understand and accept foreigners. But landlords also reserve the right to sign contracts with tenants that they are comfortable dealing with.


    Is it nationalities or personalities?

    You want to know the nationalities of my ex-tenants? I have had Americans, British, Danish, Japanese, Koreans, Canadian Chinese, Hong Kong, Indians, Singaporeans, you name it.

    Which is the worst tenant I ever had? Sadly, it is a local Singaporean.

    I had two properties that were very popular with Japanese and Koreans who, in my opinion, are good tenants and great housekeepers. I always marvel at how they master the art of tidying and organizing the house.

    But there are exceptions.

    Once I was working nearby and decided to DIY for a flat viewing. My tenant was a single Japanese guy on company lease. He was out of town and asked me to go any time. There was a single guy coming for viewing that evening.

    I opened the door and was choked by the cigarette smell. I immediately knew that I need chemical wash of all the air-conditioners and whole house cleaning to get rid of the smell as soon as the contract ended.

    There were household items lying all over the floor. We had to hop around the mess to avoid stepping on anything.

    When I finally reached the living room, I was shocked to see a full collection of porn videotapes, VCDs, DVDs and Blurays with international cast – all proudly and orderly displayed on the TV console and the sofa.

    I suddenly realized why my property agent told me that the tenant was very happy I could find him a VCR player “to watch cricket match videotapes”.

    Despite that incident, I don’t have rental discriminations against single Japanese tenants because I know that this is an exceptional case. But from then on, I let my property agent handle all the flat viewings and handovers for me.

    Crave for more tenant stories? Share yours with me and tell me what you think about rental discrimination in Singapore.

    Property Tool Review: PropertyGuru’s Virtual Reality Showroom

    VR_showroom
    On June 27, PropertyGuru showcased its latest technology of showflat viewing using virtual reality (VR). In the bustling CBD at Raffles Place, an ordinary truck was converted into a PropertyGuru VR Showroom for passers-by to test the VR demo.

    A few months back I just had an amazing ‘virtual theme park roller coaster ride’ at the Samsung Galaxy Studio in front of Ngee Ann City. Wearing that heavy Samsung Gear VR on my head, it was a thrilling 5-minute sitting in the 4D Theatre plunging down at high speed during the virtual ride.

    So when I read that the PropertyGuru VR roadshow would be in Jurong Point, I couldn’t wait to have my first-hand experience viewing a showflat through virtual reality.


    Virtual Reality for Properties

    Allow me to talk about virtual reality in properties in less than 150 words.

    Virtual reality is a concept developed in 1968; though the world only started using VR technology in buildings in the 1990s. I first learned about VR in the early 2000s when Second Life created a software that allowed users to live, make friends, rent and buy properties in a virtual world.

    There are also virtual events that can save costs in travel and venue booking. Say there is a seminar or exhibition marketing overseas properties. Buyers attend the sessions or visit the virtual booths online. Developers and marketing agents interact with prospective buyers using online technologies like webcasts and live chats.

    Start VR, a virtual reality studio based in Sydney, offers Virtual Reality Real Estate service for developers selling off-plan projects. The technology offers prospective buyers with a VR headset the experience of a virtual tour of the actual property by simulating the scenes inside the property.


    Verdict of PropertyGuru VR Showroom

    It took me some time to find the exact location of the VR Showroom outside Jurong Point. Because the demo was installed in a vehicle, the truck could only be parked along the roadside instead of inside the shopping mall.

    Although PropertyGuru hired a professional emcee and a few promoters, there was almost no traffic on a Sunday afternoon. Maybe it was the location. Or perhaps people didn’t like the hassle of walking under the hot sun to see something they have not heard of.

    I took a few photos of the truck, the demo and the promoter. The emcee announced that they managed to attract a ‘tourist’ to the VR Showroom!

    The VR headset was too heavy for a wearable gadget. I was surprised to find that the simulated scenes of the showflat were utility area and a tiny toilet next to it. I was expecting to see scenes of the living room or the master bedroom with fancy interior design concepts.

    There was a game to find 3 vouchers hidden in the 360-degree showflat in 5 minutes. I found them within seconds and was rewarded with a $50 furniture/decor voucher.

    PropertyGuru probably gets the idea of VR Showroom from the pop-up stores along Orchard Road marketing all sorts of stuff such as popular toys, new fragrances, sexy lingerie and local designer collections.

    One suggestion is to show the VR Showroom in a mobile cart so that it is flexible to showcase in a booth at the shopping malls or at tradeshows.

    Instead of giving away vouchers with minimum purchase, PropertyGuru can consider what Samsung Galaxy Studio managed to draw the crowd – free gelato for everyone and lucky draw to walk away with a Galaxy S7 edge 4G+ Injustice edition!


    Do we need virtual reality showflat?

    Steve Melhuish, CEO of PropertyGuru, told the media that their VR products and services will be ready in 12 to 18 months’ time. And in 5 years, some developers might want to save a million to build a showflat. It is a more cost-effective way to help developers to do concept testing for consumers on new architectural designs.

    Is Singapore’s property industry ready for VR?

    Yes and no.

    With declining profit margins, developers are trying to find ways to minimize cost. A sales gallery with a showflat needs close to $2 million to build. In a slow market, it takes months or more than a year to clear all the units. It is not cost-effective to continue paying rent, utility bills and staff to maintain the sales gallery. A Virtual Reality Showroom truck is much cheaper to maintain and more flexible to reach out to prospective buyers in different parts of Singapore.

    However, a big constraint of VR Showroom is that buyers cannot touch, measure or take photos of the simulated scenes.

    Above all, we know that most things in the showflats are ID concepts only. It is more practical to use VR to see the actual unit or the bare unit – minus all the ‘artist impression’ and ‘for display only’ bells and whistles in the showflat. If only developers can be honest with buyers and be transparent to the point of WYSIWYG.

    Afterall, buyers are not playing Pokémon Go location-based mobile game here. What’s the point of using augmented reality to enhance our perception of our future home when we are paying for something totally different in the real world?

    See more photos of PropertyGuru’s Virtual Reality Showroom in PropertySoul Facebook at https://www.facebook.com/propertysoulblog. Remember to give me a ‘Like’ if you can spot me there!

    Property Tool Review: SRX’s Sevi Chatbot

    SeviLast Saturday, I decided to try out Sevi, a new property tool newly launched by StreetSine Technology Group . It would be good to know whether it is useful for a first-time buyer or an ordinary property investor.

    For your information, Sevi (Search, Evaluate, Valuation, and Initiate transactions) is an AI (Artificial Intelligence) chatbot that answers property questions from property agents and end users. It helps to find the exact information the users are looking for, without the hassle to comb through the site looking for answers.

    Similar to chatting with someone on instant messaging platforms like Whatsapp and WeChat, Sevi can interact with humans using common English text (also known as NLP or Natural Language Processing).

    By coincidence, Dr Vivian Balakrishnan, Minister-In-Charge of Smart Nation, revealed to the media this week that IDA (Infocomm Development Authority) will also be using chatbots as virtual assistants to answer questions from the public in the government websites.


    The green hair girl avatar

    Sevi can be easily located on the homepage of SRX.com.sg, right at the bottom right hand corner.

    The avatar of Sevi is a girl with green hair and green eyes. Although it is far from the typical Singapore property agent look (dressed in white shirts black jackets, with the face heavily touched up by Photoshop), it has the future potential to become a Singapore mascot like the Courtesy Lion, Bobo the Elephant and Captain Green. (Maybe they should consider Professor Owl?)


    An interesting conversation with the robot girl

    I started testing the property tool with questions often raised by my blog readers. If Sevi can come up with good answers, next time when someone asks a similar question, perhaps I can direct the person to the SRX website.

    Below is an abstract of my conversations with Serv the chatbox.

    Sevi: I’m Sevi, your personal assistant.
    You can ask me basic property questions about transactions, listings, project info and X-value. Some Examples: … Type RESET or HELP whenever you need.

    Me: Is it a good time to buy now?

    Sevi: Location is required for Project Information. Please enter a location.

    Me: Should I buy overseas properties?

    Sevi: What would you like to know about the following?
    Sale

    Me: Do you think GEM Residences is a good buy?

    Sevi: GEM RESIDENCES is the latest residential condominium set to redefine the skylines of Toa Payoh. Conveniently located in the Central Region of Singapore, various amenities such as prestigious schools, community clubs and stadium in the area offer great conveniences to residents.
    Gem Residences’ In…
    View details

    Me: Should I go for HDB, Built-to-Order or EC?

    Sevi: I have some suggestions for your location “EC”.
    Please choose one from below by replying 1, 2, 3, etc.
    1. ECO
    2. ECO SANCTUARY (CONDO)
    3. ECHELON (CONDO)
    4. PARKVIEW ECLAT (CONDO)
    5. ECOVILLE (CONDO)
    6. None of the above

    Me: Where are the good deals in the market?

    Sevi: What would you like to know about the following?
    cheap, market

    Me: When will the government lift the cooling measures?

    Sevi: Are you switching topic on me? A simple Yes or No would be helpful.


    Tips of using Serv chatbox

    Oops, I think I am not asking the right questions or talking in the right robotic language. I should have followed the instructions to ask “basic property questions about transactions, listings, project info and X-value” only.

    I can’t emphasize enough the importance of following instructions and standard operating procedures. I should have learned from the recent bank robbery case: If an unarmed and muted customer gives the bank teller a written note to demand for money, the standard procedure is to ask him for his IC and to fill in the account withdrawal form – not to offer S$30,000 in cash.

    Anyway, below are the type of queries that you can or cannot rely on Sevi to give you the answers:

    1. The Can Do list

    – The basic info of a project
    – Project location and nearby amenities
    – Project floor plans and photo gallery
    – Latest transactions and valuation
    – Monthly loan repayments using mortgage calculator
    – Related sale and rental listings in the SRX portal
    – List of projects available for sale/rent in a location
    – Market data released by SRX
    – Topics that have been covered in the site previously (e.g. cooling measures)

    2. The Can’t Do list

    – Project comparisons
    – Return on investment calculations
    – Market forecasts in property sectors
    – More in-depth analyses
    – Recommendations on good buys
    – Qualitative questions


    A casual conversation with Sevi

    What I like about Sevi is that it stores my questions in the cache and always brings me back to focus on ‘property questions’ whenever I am distracted.

    Me: Why are you called Sevi?

    Sevi: Fantastic! Except for the fact that I don’t understand what you’re trying to say… I do understand Property though🙂 Type “Help” if you need assistance.

    Me: I think your green hair is cool.

    Sevi: Hmmm.. What would you like to know about property? Choose below.
    1. Listings
    2. Transactions
    3. Home Value
    4. Project Information
    5. More Options
    Type RESET at any time to start a new conversation.
    Type 1, 2, 3, etc. to reply.

    Me: Can we go for coffee one of these days?

    Serv: What would you like to know about the following?
    Let me clarify. Do you mean you want to know about project information?

    Me: What about next Saturday afternoon?

    Serv: Sorry, I don’t quite catch you. What would you like to know?
    1. Listings
    2. Transactions
    3. Home Value
    4. Project Information
    5. More Options
    Type RESET at any time to start a new conversation.
    Type 1, 2, 3, etc. to reply.
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    Here are some rent listings for condominium.
    View details
    Show 10,247 condo properties for rent
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