Young man with a knack for making money

Young man with a knack for making money

SINGAPORE - While most people his age might be scouting around for their first property to live in, the bachelor bought an investment property last year.

Mr Wan, a tax associate at PwC Singapore, took about a year to do his homework - reading up on the market and visiting many showflats. He eventually zoomed in on a shoebox apartment near Serangoon MRT station.

He made the choice because it is freehold, bite-sized but not in Geylang, next to a mall and just a few bus stops away from the upcoming Paya Lebar hub. These factors mean the unit will likely be easy to rent out or sell.

After this experience, Mr Wan's advice to potential property investors is: Do not let your emotions cloud your investment decisions. It is something that many people do not heed, he says.

An investment property is different from one where you intend to live, he says.

"People always think they should buy a bigger unit. They will think: What if I want to live in it in the future?

"But when you buy an investment property, you should think about what the tenant wants and what the next buyer wants."

Q: Are you a spender or saver?

A saver. I save most of my monthly salary and plan to invest some of it in the stock market.

My main aim, though, is to save enough to buy another property.

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