Recently I have been approved personal loan of RM27K. Initially I applied to settle off my PTPTPN black***t. But now I'm thinking of buying a property first, rent it out & use the rental money to pay for house instalment + ptptn bit by bit. But since I have never buy a property before, I'm afraid of ending up choosing the wrong property & end up in mess. Please all property expert here give me some advice in choosing a property. My preference is Ampang (Selangor) area, near LRT/public transport, near amenities, preferably below RM200K (condo) and size 900sf up. Prefer the monthly instalment to be below RM900. Moreover, I notice most of the properties in the advertisements are way too high than they're suppose to be. How can I negotiate on this prices? Can someone also enlighten me regarding the new 'My First Home' scheme launched by the government?

Personal loan...how much the interest? What is the highest rental yield you can get?

i dont think you have the ability to buy a house. Please remember that you still need to service this personal loan apart from the loan from PTPTN... I suggest that you pay off your PTPTN loan, pay your personal loan then only think of buying a house. With your personal loan and PTPTN loan outstanding, i dont think you will get approval also.

Using personal loan to settle PTPTN
-No, PTPTN interest 1% while personal loan 8 to 12%, why pay more =.="

Using personal loan to buy property
-No, you will end up with more debt very easy as you have not much experience with property. Personal loan installment + mortgage loan installment + PTPTN = how much of your salary? If your income is ok, why not save up more and buy property with cash for deposit. It's not easy to get a good return rental from property with RM200k+-. (If you really found it, then go for it. If not, better don't)

My first home scheme, I think you are not entitle to get it as your salary should be more then RM3000 (since you get RM27k of personal loan)

My 2 cents.

Using a loan to pay another loan.. Not advisable mate unless the ROI is sufficient to cover both loans with a little extra for yourself.

Totally agreed !! Just pay PTPTN whatever you have to pay up to date but not settle it unless you really got excess saving (not loan). Take loan to invest could end up with more debt unless you are really sure on what you invest could generate more than the interest. In property if you want to generate 8-12% from rental is tough.

yes, investment is not using other loan to pay other loan... if you are doing business then is different story since the money will come fast.. but investment need time. Forget it.. pay your loan..

I am just wondering why u take personal loan to settle ptptn? Even if you r blacklisted, I believe if you write in, you can pay at a much lower interest rate than your personal loan...

+1

personal loan interest prob wiped off all the benefits ...

Come on ts, take responsibility to clear d ptptn loan first, u r getting more liabilities...

IMHO... you are not ready for property... I suggest you settle off your personal loan first...

I am totally amazed by your decision! who taught you to get personal loan from BANK to pay off PTPTN????????????

my 2cents is, bring the 27k back to bank and return them before they start charging you interest!!!!!!!!!

I second this.

She said she was getting blacklisted. Maybe she didn't pay a single cent since the payback start.
If I'm not mistaken, once u get blacklisted by PTPTN, they will require u to pay one lumpsum and can't nego anymore to pay monthly, else will be facing legal charge.

Write in to PTPTN to take you off the blacklist and show good faith by paying your PTPTN loan now, return the 27k personal loan before they start charging you interest, and withhold any thoughts of getting a property until you have enough savings.

You sound like a recipe for bankruptcy in the near future.

Buy stock lah....now market down already...

Hehehe, u want her/him to go holland is it?

why u take loan for another loan? its suicidal..

if ur house is a big mistake? den u will straight away 14th floor man.. seriously speaking here

hahaha...take personal loan to settle PTPTN...

nice try.........

he must be failed in math or financial subject........

take personal loan for downpayment!! bank will not approve your housing loan unless you have huge monthly income.