Serious investors. Gauging intrerest. Legit, real estate investment

[sadfa]

Originally Posted by Slaveatwork

No idea what you are saying at all.

Hahaha .

You can't novate tenancy to u if you're not the owner of the property. Novation is all three sign la. If you sign a separate agreement between two of u, a bit fishy.
Tenant can novate to another tenant. landlord can novate to another tenant

but if u take over landlord. How does it work. Do u know? Who take over landlords obligations. Tenant pay u rental, air con spoil how? Look for you?

Don't pay rental, your fren have to take action cos he's ths owner n landlord. Not you. So u understand what's going on..or u think u take action cos you're the landlord. Don't own property can b landlord meh

Or do u mean you're to be the tenant n the company is sub tenant n they pay to you. Damn weird n both u n company should be wary

Superman ask his employer to pay 100% salary to his mother. It simply means money goes to her. Superman still employee n he do all the work. Company can't touch mother even if they overpay to her.
Your fren not so dumb la.
What does he get in return???

Haha go ask a lawyer or ask properly
_______
Exchange points dreaming ma

[unicornboy]

Originally Posted by Slaveatwork

No idea what you are saying at all.

I dont blame u. That lau chee bai sadfa like to talk cock. Hes talk cock in every thread.

This is year of the cock. Be prepared to hear more of lau chee bai sadfa cock reply.

[unicornboy]

Originally Posted by sadfa

Haha go ask a lawyer or ask properly

Lau chee bai talk cock so much. Then ask people to go ask lawyer. Ler ki cui tuck lan lah.

[tabloid]

Originally Posted by Slaveatwork

It is a 3 year corporate lease. So the upfront amount would be for a discount on the total 3 years.

Condo is already mortgaged. Too bad SG does not have a concept of secondary mortgage like US

Originally Posted by Slaveatwork

Novated contract would mean that the original rights and obligations under my friend would be passed on to me. There will be a separate contract signed.

Only break option is a diplomacy clause as per standard contract.

But you raise a very good point on 3). He may not pay his mortgage which results in bank foreclosure. But what happens to the tenant then? Will tenant get kicked ouT

ts, think this is very risky business.

in hk quote "where have a big toad jumping in the streets"

looks like your friend not paying the mortgage.

If the bank repossessed the property then the bank may continue the tenancy with the tenant till the bank sold the property away in an auction or may inform the tenant that the lease may be void.

best consult a lawyer to be sure..

[chickenworm]

Should always understand motivation of your counterparty. In normal scenarios, rental income is used to repay mortgage instalment. In your case, the landlord upfronted the rental for 3 years. He will need to service his mortgage instalments from other sources of income. Granted that he will not walk away with say 9% of property value (assuming net rental yield of 3% p.a over 3 years) when he has 20% equity in the property (assuming 80% financing) and he's liable for default. But he sounds desperate to even contemplate this. He will likely come to you to borrow money to service the loan instalment if he gets deeper in financial difficulties. By then, he's your friend plus you are already drawn into the mess as your income stream is dependent on the rental continuing. As I said.. very bad deal

Originally Posted by Slaveatwork

Novated contract would mean that the original rights and obligations under my friend would be passed on to me. There will be a separate contract signed.

Only break option is a diplomacy clause as per standard contract.

But you raise a very good point on 3). He may not pay his mortgage which results in bank foreclosure. But what happens to the tenant then? Will tenant get kicked ouT