More than one casual friend (Philip and a Prudential road show manager) recently remarked that I looked like semi-retired. They said that for different reasons actually, but one common factor is what I told each person about property investments.

Sometimes, it feels too tiring trying to maintain this salary. Therefore rental yield is the relief I have always dreamed of. Grandparents’ Beijing home can’t rent out (rental would be something like RMB 10k/m), but I hope all my other properties can generate S$5k/m

You said your neighbor collected 7Y of rental income (total 200k?) but used it all to restore the home. Now I feel these numbers are questionable — The damage caused by the Mexican tenant was perhaps less than (say 70% of) the total rental income. Perhaps your neighbor decided to spend the rental income on renovation. Renovation is more than restoration! Some people say “I have to spend all this extra income just to restore …” as a way of self-justification.

( Compare my sister, who used to spend her year-end bonus within weeks …)

So I don’t know if your neighbor actually need to spend 7Y worth of rental income just to restore a house. I think in most cases rental yield exceeds the cost of restore. My cost of restore was below $500 after renting out my flat for 3Y.

Anyway I have lost my appetite for stocks and bonds. In one investment account (FSM), I earned about S$22k (+/-2k) profit till Mar 2017, over 4 to 5 years. I invested very roughly S$100k (50k to 150k excluding money market). Low but positive return! I’m fine with that, because in this account liquidity was my priority. I put relatively small amounts into risky markets. Low risk, low return. For example,

• very roughly $5k within that portfolio was invested in U.S. stocks. It generated roughly 50% return, better than the rest of the portfolio.
• my big US high-yield investment (S$50k – 80k) generated very low net return perhaps 0 to 3% over 4Y
• Some small amounts ($100 – $500) generated roughly 10% return

Around 2013/2014 I did email you about my goal to generate higher profit (like S$2k/month) from my stocks/bonds investment. I know it Didn’t work out but not sure why. I think the dividends can be relatively steady but the NAV  has been unsteady.

Now I feel in Cambodia, Manila and Singapore, property is a superior asset class for both passive income and capital appreciation. Perhaps that’s one reason I look semi-retired.