Property Investment “Workshop” @Credit Savvy

I attended a 2 hour property workshop by Credit Savvy. Besides the usual “ra ra” and impressive background to get you to sign up for their 3 day course, below are some of the key points which I picked up.

  • You get to join their investor’s network group. And the elite few with more than X properties get to join a elite group where the trainer will personally pay for the meetup.
  • Leverage is a double edge sword, but use leverage to your advantage.
  • Gear up.
  • The trainer mission statement is “…for all of you to own X number of properties”
  • The basic strategy is to sell (upgrade) from your current HDB and buy a Private Property and a Commercial Property – the trainer will be teaching how one can do this without paying anything
  • The rich don’t time the market, they buy undervalue property when they see one.
  • Location is everything – not current hot location but location to be the next hot spot e.g. near Thomson and Downtown line.
  • How older folks can increase your loan period by partnering with their children. If you don’t have one – the trainer can teach you a way.
  • How you can get 80% loan even if you do not have a job.
  • Another tip is to buy a a dual key and the trainer can teach you how to create one yourself.
  • Bigger area usually means a lower value psf.
  • Your first property is the most important.
  • Never sell your private property unless you can sell it to buy two more.
  • Savvy investors do not sell a HDB only to get another HDB.
  • The trainer has created a system to seek out undervalue property.
  • How to touch up your house to ask for a higher valuation.
  • A good property is where its rental is 1.5 times the monthly loan.

Some of his views he shared about property investment is uncannily seemingly to stocks:

  • Undervalued property akin to undervalued stocks.
  • People sitting by the sidelines waiting for the price to drop which never come.
  • Not taking action and lamenting when people make a profit.
  • A network of like minded people.

I will be attending more seminars to build up my knowledge. One thing that irritate me is why does a network has to be exclusive? Information should be readily available to everyone. The differentiating factor is the person who act and the person who do not.

Hmm… , maybe I should also “leverage” upon my site to start a property investment group for like minded people?


    • says

      Hi Wai Lin,

      Not for me. The actual workshop cost $3K+. It’s quite a substantial sum of money which I can put to better use. While the workshop has its merits, I would believe the people who will benefit most are those who are actively engaged in property investment and not for the ordinary home owner.

      If I remember correctly there were one or two property agents who attended the free workshop.

      • Reddy says

        Hi Derek,

        My Agent attended the seminar (think paid like almost $3K and then another $5k to receive 1 to 1 advise from the chief trainer by the name of Eirc Cheiw) and then shared with my mrs and me, on how to “sell away our HDB and buy 6 more properties.”

        That’s when our real combined income were even less than $7K but our HDB almost fully paid up. So our agent taught us how to do it ” without paying anything”. Actually a lot sleepless nights were involved and a lot of cash too. But you will get it back, continue reading and you will know why.

        First you need to find a good under valued property (near popular MRT stations, int’l schools, high floor and dual-key convertible, mid sized– min 250 units condo project). Our agent did the job, we just trusted our agent, it’s FH.

        After that we sold our HDB which was easy then sign the option to buy the condo, we needed to sell with an extension stay request just in case complications/delays arose.

        Sales proceeds less the balance owing to HDB from the sale of HDB returned into the CPF of mine and wife respectively, plus a handful of cash say almost $220
        Used that to pay the condo (bought under my name using float rate) and top up with some more savings in cash. Then reno the condo (wonderfully done by my agent’s relative) into a dual-key unit. Technically speaking this unit must be big and can accommodate two families. So that my family of 4+1 stays in the larger part of the condo and rents out the smaller part to another couple family. We each have our privacy as the doors to our living area are spaced apart. Besides the tenant couple paying almost $2k were seldom home since they do a lot of flying/ traveling. During this 3-4 months’ time frame, due to a lack of income figures on my wife side, my agent started a ”real” company to ”employ” my wife and up her salary till an amount that allow her to take loan from bank. After accumulating 3 months of salary statements from bank then her bank loan was quite easily approved- this salary thingy all done with real cash on hand, and mind you CPF statements will reflect wife was working 2 jobs, Meaning our money in left pocket went into our right pocket in order to get wife’s loan approved. Agent did a good job I must say. the timing wise was so perfect.

        Then we went in search for the second under-valued property nearby to be purchased under wife’s name.
        At this juncture about 4 months after my 1st prop, agent advised was to take out a re-finance program on the condo- I managed to increase my loan tenure by many more years since the re-finance program allowed the debtor to loan up to 75 years old vs the initial 65 years old, it came to me as a pleasant surprise as the loan tenure stretched longer my installments amount also became less stressful. (cash needed to pay the re-financed installments)

        We used the re-financed cash (remember I used cash to pay for the 1st property, it must be cash, i dont know why, its something to do with CPF money once locked in cannot be released). of about 80% of the loan amount (of 1st property and top-up a little of cash to buy our second ”dual-key” condo under my wife’s name,

        Also simply renovated by the same contractor, he seemed to be so pro to design and separate the one unit into 2. Around this period of time, my wife also resigned from my agent’s ”real” company- hence I need not pay the agent any more ”consultation fees”- which amount to her extra take home pay and CPF. Bear in mind this money was to pay the agent to pay my wife so no money loss except a small token of appreciation of couple of hundreds. We found the money well spend. The second dual-key units were rental quite quickly due to the location.

        To cut the sharing short, the 2 properties are giving us 3 rental income from 3 different groups of good tenants, We service the 2 loans using the returned CPF from the sale of HDB plus these monthly rental income X 3 and still have quite a bit of spare. We are working towards the third one (a commercial unit after I set up my company and then rent out also using the same method of re-finacing on the second property) which we think we will then stop there. Not that we are not interested in making more money, but the whole process is very taxing and tiring and full of serious hard work, no BS. Now, we just want to relax a bit and take it easy. The 4th property as advised by our agent must also be a commercial property under wife’s name meaning she will have to set up a company to buy it. And then the 5th and 6th can be overseas properties, maybe we will skip the 4th and go to the 5th unit (Australia) somewhere near to the university which our kids can go.

        My humble advise – Having a solid agent is a must, Lousy one will only want to close the deal, our agent from E realty company became our friend.

        Thanks for reading the long winded sharing

        Have fun investing in Properties.
        S 2 cents worth

        • says

          Hi Reddy,

          Thanks for sharing. I enjoyed reading your comments – instead of just sharing how easy it is to make money in properties, you gave your honest views that you had many sleepless nights as well as lots of hard work.

          Finding a good agent is already hard enough and I find it very hard to believe that your agent will go to the extent of opening a company to hire your spouse. Finding an undervalued property is also another tough ask. It’s like stocks – we all know that we should buy low and sell high but it is not easy.

          I’m glad that you can now take a step back and both your agent and you can enjoy the fruits of your labour.

  1. sharon says

    Hi Reddy
    Thank you for sharing very informative details above. I also signed up with Eric Chiew but have not implemented his strategies yet.

    Do you mind to share with me the project name of the under-valued properties, your renovation ID, and your agent contact?

    Thanks a lot!

  2. Chloe says

    Hi Reddy,

    Could you provide your agent contact? I’m also looking to invest but just don’t know how.


  3. Mel says

    Hi Reddy,

    Do you mind sharing the agent? Happy that you have an agent who went to the extends.
    Hoping to get more feedback if the 3 days course really benefit?


  4. Rachel says

    Hi Reddy,
    Thanks for sharing.
    Would it be possible to share the contact of your housing agent. As am keen to learn how to invest in property.


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