Monday, January 23, 2012

Property J-V

So much for my earlier protestations of financial prudence. The Wongs are determined to sink money in property... and we are now committed. In a three-way joint-venture, we've pooled our resources to purchase a SOHO unit in an upcoming waterfront development.

Location is easily accessible as it incorporates a public transport hub; offers immediate access to a mega shopping and entertainment complex; and proximity to outdoor recreation and watersports facilities. The inclusion of an additional 'shareholder' spreads the cost outlay and risk to a more bearable load. And because the unit is a SOHO, the rental pool opens up not just to tenants looking for a place to stay but also to businesses looking for office space as well. Or even a combination of both.

It also helps that the units in this development are selling fast. All the while we were looking at the showroom, the in-house announcements kept us up-to-date with unit numbers just sold. It wasn't long before a familiar number boomed over the in-house speakers, sealing the deal.

Here's hoping that at least our new piece of real estate can eventually pay for itself. Either way, it looks like voluntary retirement is still a long way off.

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