Sep 13 2009, 01:21 PM
QUOTE(watekungsik @ Sep 13 2009, 02:52 AM)
Hi Forumers,
Now I've manage to rent my apartment which I bought at 142k (still under bank loan of coz).I've rented the apartment at RM 800 (which I still get a small profit after pay my loan to the bank).Now with this RM 800 cash in my hand...I quite confuse on what should I do with it. Here are the option that I've manage to come out :
1 - Pay double the amount to the bank ( e.g tenant = rm 800 + my money = rm 800 = RM 1600 monthly to the bank ) so that I can cut the interest that has set by the bank. ( my loan is in 30 years so total amount after 30 years is more than RM250K!)
2 - Invest it to another investment scheme ( e.g Mutual Funds, Gold, Stock..etc)
3 - Save it as my extra buying power.
Those who has experienced like this do share some of their knowledge. Its good for the newbies too.
. Thanks!
I will choose No. 1...Is not just reduce the interest but reduce your financial burden. Pay it all before you committed for next properties investment. Ask yourself, if your tenant cant rent out for 6months or more and you are tight with other properties investment burden(if you invest 2nd apartment), or worst your 2nd tenant purchase cant rent it out, what will be the consequences? Will it be your emergency can sustain or cater for that? How if more than 6 months?Now I've manage to rent my apartment which I bought at 142k (still under bank loan of coz).I've rented the apartment at RM 800 (which I still get a small profit after pay my loan to the bank).Now with this RM 800 cash in my hand...I quite confuse on what should I do with it. Here are the option that I've manage to come out :
1 - Pay double the amount to the bank ( e.g tenant = rm 800 + my money = rm 800 = RM 1600 monthly to the bank ) so that I can cut the interest that has set by the bank. ( my loan is in 30 years so total amount after 30 years is more than RM250K!)
2 - Invest it to another investment scheme ( e.g Mutual Funds, Gold, Stock..etc)
3 - Save it as my extra buying power.
Those who has experienced like this do share some of their knowledge. Its good for the newbies too.
. Thanks!
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