QUOTE(Pai @ Mar 13 2009, 04:39 PM)
boss meejawa, called a few bankers, stanchart, uob, pbb and cimb all can give approx 80% margin only for residential properties bought under company. They say 90% is impossible leh......
Bigboss pai,
All depends on the banks, especially nowadays hor banks are so reluctant to give >80% financing, not because they can't due to purchase under company, but because the max margin itself that they can give. What to do, blame everything on amelika la hahahah
In good times, they can give up to 90% (I didn't ask for more la..should hor?
). Foreign banks are more flexible in this regards (if follow rules la)..If no follow rules you can get >100% with local banks also, but rate sucks laa..and "more upfront investment"
SCB always give low margin wan, but they're my fav bank, citi and hsbc also similar, but all can haggle wan with the approving managers.
Added on March 13, 2009, 6:14 pmQUOTE(livingmonolith @ Mar 13 2009, 04:37 PM)
so it means as long as we're dealing with residential properties it'll be the same except we get taxed less right?
great thread pai, and really good information from meejawa. thanks for bringing this topic up, i've never contemplated this method with properties.
Correct correct (can oni say twice if not become lingam d
)
I also quite new la using company, abt 2 years oni, but I've been very very malas and inactive in property scene for a while now. I've been following pai's comments in a few other threads and are sure that I can learn much from him. Now that the economy so "bad", it can actually be turned upside down to become "good".
Oni need 2 ingredients:
1. CASH
2. HOLDING POWER
The recipe pulak is always same same, keep repeating it until you become automatic millionaire
Added on March 13, 2009, 6:15 pmQUOTE(Pai @ Mar 13 2009, 05:06 PM)
the idea is to pay zero tax
Added on March 13, 2009, 5:17 pmu know anyone?
It's also possible to pay zero tax without companies, I incur expense around 5k a year to just maintain the company with almost zero transactions....( need some calculator with more digits..)
This post has been edited by meejawa: Mar 13 2009, 06:15 PM