ehl,
u don't need 30yrs to get 9units, u can get next 9units in 10yrs. U may need 20-30yrs to fully own the 10units with the income generated from the 10units.

Any way to speed up the investment process?

This post has been edited by ehl: Sep 14 2009, 10:04 AM

Yes, you can loan at 100% or more, putting nothing down.
I don't recommend you to start doing it this way if your personal finance is not in order.

Some say it's illegal, there are legal ways in doing it.
Just state in the SAP that the seller will rebate back 20% of the purchase price to the buyer after closing.
There are other ways, you have to be creative, creating assets out of nothing.

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Added on September 14, 2009, 7:42 pmOne word:

"Start"


Start by looking at 20 deals around your area.

This post has been edited by jasonhanjk: Sep 14 2009, 07:42 PM

Jason, will the bank agreed to such term of 20% rebate? if yes which bank so that is easier to nego with them.

Secondly, if already started the process of collecting property, I still find that 30 years is a bit slow. Any other ways?

Isn't one's ability to buy more properties limited to one's income level? Or do banks give unlimited financing as long as you have positive cashflows?

Involve in forex...thats truly financial freedom... I want to buy cellphone... trade today and buy tomorrw... I want to buy new lee jeans... trade today and buy tmrrw and so on... but of course la u need to learn forex first... forex is not gambling, its involve skill in reading the market in terms of sell or buy... thats all

This post has been edited by ValdoranT: Sep 14 2009, 09:43 PM

boss, the figures I mentions was me being conservative, hence I mentioned AT LEAST. Didnt factor inflation into the picture as I dont want to be seen as painting overly rosy pictures

Anyway, 2mil retirement asset + 15k income per month is sufficient for me, as my maintenance cost should be quite low once I retire

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Added on September 15, 2009, 2:02 amthats the idea.

btw ehl, patience is a virtue especially when it comes to properties investment. Its not as exciting as stocks or FX, but returns wise is just as good if not better over long term.



This post has been edited by Pai: Sep 15 2009, 02:02 AM

True, is based on income, but not sure whether is there any limits.

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Added on September 15, 2009, 2:26 pmPai, I think, I have solve the speed problems and hope to figure it out soon.

BTW, have you incorporated a S/B that you wanted to have?

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Added on September 15, 2009, 2:31 pmPlease give us some brief concept & example.

This post has been edited by ehl: Sep 15 2009, 02:31 PM

I was under the impression that bank look only at your salary but apparently some banks based on +cashflow i.e. take into consideration rental income but need tenancy agreement

Exactly.

If your rental is 125% higher than your expenses, you are quite safe for taking another loan.
Some banks look at tenancy agreement, some also wanted to look at the money being enter into your account.

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Added on September 15, 2009, 4:59 pmNot all banks give unlimited loan, they are some that do give.
I have yet to find them but I know they do exist.

This post has been edited by jasonhanjk: Sep 15 2009, 04:59 PM

What you mean by 125% higher than expenses?
1) Total personal expenses?
2) Rental expenses only excluding the total installment?
3) Rental expenses (quit rent, assessment, maintenance fee & misc charges in repair & maintenance & interest?

I think its rental - (installment + maintainance) = cashflow but need some confirmation as I did not utilise YET

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Added on September 15, 2009, 5:47 pmHeard Citibank only look at your total loan obligation with them and not with other banks. Not unlimited but higher leverage

This post has been edited by rakyat: Sep 15 2009, 05:47 PM

Expenses and cashflow is different.

Oh yea .. tenancy agreement (make sure stamped) can be used as proof of income as well. Along with your current account statement

That would be number 3.
The total expenses for that property, including vacancy.

If your expenses is RM1k, you need at least RM1250 in rental.

Ok, another question is why 125%?

It's a guideline given by one of the US banker.

Treat it as a safety valve.
Just in case your property is vacant for 1 month, you still can break even in 4 months.

If it's 100%, one month vacant will show a loss in that year.

It make sense.

BTW how is your aution experience today?

Err.

I didn't bid and earn some profit.
Which is something illegal so I won't say much.

This post has been edited by jasonhanjk: Sep 15 2009, 10:19 PM

Need to get more info on aution thing, as I got zero experience..any suggestion where to look at first?