ya....with such a low monthly expenses and also 150k in saving, you are certainly ready to buy a house. unfortunately, its vy hard for you to get a property at the range of 300-400k nowadays.

Yo bro! Manage to find such a cheap condo in island?

Would you mind to share the condo's name?

RM 379/sqft is reasonable in Penang Island in my opinion.

Instead of dumping RM 250k as downpayment, why dont you just dump in minimum deposit and invest in 2nd unit.

alliance personal loan is offering the lowest for rate right?? 7.88% pa if loan repayment between 3 years

Interest Rate :
9.88% per annum (flat rate). (Effective Interest Rate: 17.09% per annum based on 5 Years loan tenure)


hi.... i dont understand... what is the different between the flat rate 9.99% and the effective interest rate 17.09%...
the banks always make us confused...

Property is one of the main ways to build wealth.

Those who bought pre-2009 would have laughed all the way to the bank.

tak ada baca news ka? where got gold to grab also dunno...

Cheah highlighted that Platinum III is competitively priced between RM360 and RM380 psf, which compared to other projects around the area going for RM500 psf onwards, makes it a good choice.

As an added incentive, the developer will also absorb legal fees for both the Sales and Purchase Agreements and Loan Legal Fees for a limited promotional period.

http://www.starproperty.my/index.php/artic...-to-be-popular/

On the RM200mil Platinum III condominium scheme in Teluk Kumbar, Cheah said the project, comprising 357 units with built-up areas of 1,230sq ft and 1,330sq ft, was priced at RM380 per sq ft.

http://www.tppt.com.my

http://www.propertytalk.com.my/project/pen...3/platinum3.htm

Ppl comment buy/no buy can read here..
http://translate.googleusercontent.com/tra...EjqDRHzzF4tugWg

yo bro we are taking half a million dollar property here, invest 2 unit need more than a million...Look at my salary where can get approve? Which bank want to loan me RM850K?

This post has been edited by AAAABBBB: Aug 1 2013, 11:52 PM

It SHOULDN'T HAVE BEEN at the first place.

wah DP 250k I also just took a mortgage of about 300K recently. your current condo is fully paid up?

that's why last time i opt to study for my degree part-time, and they still offer PTPTN for part-timers. I die die also pay up myself. really cham that time, low pay because qualification is only STPM and ride motor only. But it's worth it that now i'm roaming around freely without the RM200/mth for 15yrs

Angpow money since newborn....

Hi there! Congratulations on your upcoming nuptials.

Base on what you have indicated, your expenses is RM2080 per month which leaves you about RM1000 per month free. Nowadays with RM1000 per month you can only buy a property less than 200K. If you are willing to live in a medium cost apartment priced between RM100K to RM200K, your income is sufficient. Otherwise you need to have a gameplan.

Plan A

Let's say your target is a place priced at RM500K, this is what you should do for the next 5 years (I would suggest not having children until the end of five years. At 27, your advantage is time :-
1. Reduce your expenses to no more than RM1500 per month. Save RM1500 per month into an interest bearing account. If you are a bumiputera put it in ASB. If you put it in an account that gives you 3% per annum, at the end of 5 years you will have RM103K. I would recommend putting at least 60% of any bonuses you have and 50% of any increment you get to the pot and at the end of five years you could possibly save close to RM150K. If your wife can save the same amount you can get this money in half the time i.e. by the time you are 30.

2. Buying a 500K property, you will need 20% of the price as a deposit, legal fees and some minor renovations.


Plan B (which is what I did)

I bought a medium cost apartment for RM200++K and stayed for five years. Then I sold it for a nice profit of 150K. Then I bought another property and sold within a year for a nice profit of RM180K (for this property I was lucky as the seller was desperate to sell). In the span of 7 years I made more than 300K. This does not include my initial outlay and other monthly savings that I contribute to in the last 7 years. Recently I bought a property for RM400++K and am looking at another for RM700K.

The most important is that you save and cut expenses. That is the first step to being financially sound. Once you have a big amount saved up, you will have the ammunition necessary to invest in the investments you are familiar with. You must be familiar with the investment instruments you intend to invest in (whether it is property, shares, gold, unit trusts etc) as the surest step to financial disaster is to make investments base on tips from friends and family.

buying 500k property need 100 k deposit ?

You need 50K deposit minimum. Then there is legal fees, stamp duty and renovation costs. All this cost $$$$.

If I come out to work next year, should I work for 3 years first before get a house or buy a house after work for half year. I believe that we will be able to accumulate 6k + 6k ＝ 12 k per mth. With 12k how much loan I will be able to get from bank for 300 to 400k property?

Bro not ang pow money la.....it is from scholarship and the living cost is extremely low for this ulu ulu place
sumore we still haven't started to gif money to our parents so we are able to save more

Bro, seriously u feel that I'm boosting?
We are now 27+ d, with total income of 5k we won't be able to save 150k? But our expenses are considered extremely low.
How much saving u expect from two person with total 5k of salary?

dump in more down payment to adjust the monthly installment to RM1.4-1.5K so that current condo rental can pay the installment when rent out..

yes current condo fully paid (settle)..

thus I can have time to do more savings and investment...


Sifu out there...

Do u know any calculator that I use to see after 6 yrs of installment,,,show how much exactly I paid principle and interest and how much balance left?

Not the graph type but in actual figures

Sifu need advise...

My loan repayment after 6 yrs...principle paid RM34K, interest paid XX , balance RM266K still owe bank..

If I savings RM25K per year, thus I will have RM150k in 6 yrs. Let say I able to get 5% interest, thus in 6 yrs I should have RM26K

My new condo installment every month came from rental of my existing condo...


Is this formula doable? The money I still owe bank balance

=Money I borrow from bank - principle paid up in 6 yrs - savings in 6 yrs - savings interest in 6 yrs

= 300k - 34k -150k -26k

= RM90K

Balance little money..I think I do not wish to borrow from bank anymore...

If I borrow the balance RM90K from my dad, I give him 5% interest....

1st year RM90K, 5% interest - I pay my dad RM4500 for interest, from my savings RM25K pay principle, thus still owe dad RM65K
2nd year RM65K, 5% interest - I pay my dad RM3250 for interest, from my savings RM25K pay principle, thus still owe dad RM40k
3r year RM40k, 5% interest - I pay my dad RM2000 for interest, from my savings RM25K pay principle, thus still owe dad 15k
4th year RM15K, 5% interest - I pay my dad RM750 for interest, from my savings RM15K pay principle, thus no owe dad anymore..

Total interest paid to dad RM10,500, ok ok...It is like I borrow RM90K, Repay RM100K in 4 yrs time to my dad..

Thus I can settle my RM300K bank loan in 10 yrs time..

Is my plan ok? Can recommend how to do better? Pls. use simple financial term in calculation...I am not so good with formula..

This post has been edited by AAAABBBB: Aug 3 2013, 10:07 AM


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U did mention u have scholarship n tat ur saving is mostly based on it?
So, meaning tat both of u already secure a job after graduation n have a net salary of 5k? (after deduct EPF n SOSCO)
If still able to maintain such low monthly exp, why not.
congrats for graduation n marriage ya..

1. No need give parents money?
2. After u work, I don't think RM130 petrol is enough, expect at least double of that UNLESS your office is just across the street
3. Think about car maintenance
4. U mean 5K + 5K or 5K only? I don't think pay house and children expenses can cover with 5K. After u have family, u gotta think about insurance too

what are the best investment plan for non-bumiputera?