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Watch this Onboarding Video to Start Or You can go over to Coliving Kickstart Series here: https://www.skool.com/proptiplyonline/classroom/06aeffb4?md=044b18bc1cf943849f661a53e5b1d066
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Coliving questions
Hi, I have several questions to ask, and hope all of my questions will be answered. 1). 99% and 1% - how does those % work to pay the property tax for the property they share? Is it for HDB only? 2). Say, if we have 2 bedroom condominium, is it hard to do this co living space based on the limit of partitioning? 3). Essential occupier (EO) needs to be removed if he himself wants to buy any new property? 4). Minor repair clause ($200) - if my sub tenant(s) break any home property, they pay $200 at max and I pay the rest? Or visa versa ? 5). Which one is more profitable for first unit? Do co-living space in own condominium or being landlord under bespoke? 6). How will we know which unit is good for space and partitioning? 7). For all co-living units, does the utilities cap vary or we fix a cap no matter how many rooms in the unit? 8). Do we need to declare profits of rental to income tax? 9). Actually what is the disadvantages of co living business? Like, reinstatement after 3 years every time? 10). When we rent from the landlord, can / will it include wifi and utilities bill for 3 years? 11). May I ask when this session recording was taken? Bcos nowadays currently, the rental of condos now are about $5k to $6k. The capital is still $30k? 12). When is the next open house? 13). How does the collaboration with bespoke work like? 14). What if we find a good unit but there are a few other co-living units in the same project? Competitive? Thank you!
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New comment Aug '23
0 likes • Aug '23
Hi Yu Xiang, I answered your questions on 28th Aug 2023. so the answers are based on the situation in this current time stamp. If I am not sure of the answer, I will say I am not sure. 1). 99% and 1% - how does those % work to pay the property tax for the property they share? Is it for HDB only? Property Tax, I don't have clarity and I am of the opinion that I don't care which owner pays so long it is paid. HDB is not allowed for 99% and 1%. 2). Say, if we have 2 bedroom condominium, is it hard to do this co living space based on the limit of partitioning? I will encourage you to view the 2Bedroom unit then determine your business case. Most cases there is limitations of size but there are units that are just nice big enough and these units are usually very low setup cost and very high profitability. 3). Essential occupier (EO) needs to be removed if he himself wants to buy any new property? Not required, once 5 years minimum occupation period up, EO is allowed to buy without incurring ABSD. 4). Minor repair clause ($200) - if my sub tenant(s) break any home property, they pay $200 at max and I pay the rest? Or visa versa ? Your tenants pay $200 according to Minor Repair Clause he/she signs with you. Then you go to your Landlord to claim anything above $200 under the Minor Repair Clause that you have with the LL. 5). Which one is more profitable for first unit? Do co-living space in own condominium or being landlord under bespoke? Unable to determine as both have different context. For me, I recommend for people to start with Rent-to-rent Coliving to build up expertise then move over to owning Coliving unit. 6). How will we know which unit is good for space and partitioning? Go and view it. 7). For all co-living units, does the utilities cap vary or we fix a cap no matter how many rooms in the unit? Set a standard cap. 8). Do we need to declare profits of rental to income tax? Yes, get your corporate secretary to do it. 9). Actually what is the disadvantages of co living business? Like, reinstatement after 3 years every time?
Introduce yourself [YOUR BIG WHY!]
- Introduce yourself​ - Occupation​ - Why are you here?​ - What do you hope to achieve through this course?​ - What is the meaning of “WEALTH” to you?
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Introduce yourself [YOUR BIG WHY!]
Welcome & Introduction to Proptiply™ Online 🏭🏘️🏨
Congratulations 🎉! Welcome to Proptiply™ Online 🏭🏘️🏨. We are excited to have you join our Online Community 1. The Mission of Proptiply: Empowering Lives to create Wealth by building Cashflow. OPR. Scale Up. To get the most out of Proptiply, we recommend for you to join our events and learn more about how Proptiply works and if you like what we teach and you like our style sign up for our Education Programmes. 👨🏻‍🎓👩🏻‍🎓 2. Why we use Skool? As the community grow, we need a better space for us to manage our community and also archive our best knowledge. (Our Mentorship community ❤️ Skool, you will love it too!) Explore around: Classroom (all our Online modules - Free and Paid ones), Calendar (all our upcoming Zoom calls/ Events/ Meetup), Leaderboard (most helpful member will be rewarded) Most importantly: Our Community. with the best searchable functions for people to find old posts and search for information. How good our Skool community is ❤️ = How much effort you put in. ❤️❤️❤️ 3. Let’s introduce ourselves using this template: 🎬🎬 - I am [Name], [Profession] - I joined Proptiply Online because [your Reason] - By the end of Proptiply Online, I want to [Desired Goal] - The biggest roadblock to my success will be [Roadblock] - Looking back a year from now and I have achieved my goal. how does it impact me and the people I love [Answer impact]
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Lionel Lee
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1point to level up
@lionel-lee
Dont think too hard just have fun with it

Active 2d ago
Joined Jun 30, 2023
ENFJ
Singapore
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