what's your suggestion then?

invest in oneself, go taiwan/ s.korea, do plastic surgery & look like kim kardashian
then go pavillion, buy all those branded stuffs, go the sultan lounge & wear super low cut
when anyone ask anything, jus say, your room or mine?
p/s those anti materilistic forumers gonna flame me okok, its just a suggestion & no need take it up

great idea... damn mean... i get your joke... lol...

This post has been edited by yeowa: Mar 16 2011, 03:48 PM

no offense intended, need move this to kopitiam

From your post, this is what I gather:

1. You are young (mid 20s), just started working, with quite a good salary hence can get personal loan of RM 27k. Normally, banks give personal loan up to 10 times salary so I guess your salary is around RM 3k a month. Not bad.
2. You don't need a house for own stay, so most probably you are staying with parents. The property you want to buy is for investment only i.e. rental now and later for capital appreciation.
3. So far your only debt is the PTPTN loan and even with this loan, you can still afford a monthly payment of RM 900.
4. No car loan, so this is not your priority - probably you are using public transport to work, car pool or using your parents' car. No issue here.
5. Looks like you have loaded parents since you don't worry about lodgings or transport.

What's best for you? This is what I would do if I were in your shoes :

1. Return the RM27k personal loan to the bank - not worth taking this loan as the interest is very high maybe BLR+x%.
2. Buy a condo in Ampang area for around RM 200k. Looking at this forum or iproperty.com, I can see many condos going around RM 200k giving good rental. Try Axis Ampang, you probably can get a SOHO unit (550sf) for around RM 220k subsale and rent it out for RM 1.5k-RM 1.8k. (Got some forumer here even rent out for RM 2k/month but let's be conservative).
3. Taking a 90% loan of 220k (i.e. RM198k) with BLR-2.3% for 30 years, you pay only about RM950 per month, well within your salary of RM 3k. The 10% down payment + related payments e.g. lawyers fees will come to about RM 30k so I suggest you get this from your savings or an interest free loan from your loaded parents. Or take a 100% loan for RM220k (My First Home Loan Scheme from any participating bank - most major banks participate) with monthly payment of around RM 1050.
4. With rental of RM 1.5k-1.6k per month, after deducting monthly loan repayment of RM 950k and monthly maintenance fees (say RM150), you still have a positive cashflow of RM400 to do as you please or maybe to pay back your parents. Even if you have zero cashflow after paying your parents, what the heck...you still have the apartment and increased equity in the apartment every month.
5. After 4 or 5 years, when the value of the condo appreciates and you have been promoted (maybe earning twice your salary now), you can sell this condo and use the returns + your increased credit line to buy that RM 1 mil ringgit dream house which you want to settle down with your future husband. You'll still be young then to enjoy life to its fullest.
Good luck!

Great advice in detail. So still no need to pay PTPTN? Hehe

within a day she post, already reach 3 pages...
why everybody so kan cheong?
sounds like everybody ignore her question and keen to advice her..
hahaha.. where is the tread starter now???

honestly, the scheme doesn't work for a person who hav earning 3k per month with no other loan. and u having ur personal loan somore...
i think government is making more n more youngster fall into their "fairy tale".
i believe she is not the only one who think this way. js wait... few more yrs we can find many house/apartments under AUCTION sign jor.

This post has been edited by totila: Mar 16 2011, 07:57 PM

I totally not agreed what you said. He/She is very fresh in investment world. From what he/she ask, what he/she did....very clear that he/she is totally got no investment intelligent. Long way to go......
I suggest he/she need to return the money to bank, borrow money from parents to settle your PTPTN, then consistenly return the money to your parents monthly. After few years when your salary is better, investment knowledge improved....then only think about investment.
Besides, please consult financial consultnat at the current moment to find the best solution.
Good luck!

Our gov't = phail gov't

Yes, you are right, she is very fresh in the investment world and that's precisely why she is asking those who are more experienced for advice here.

IMO, there's no reason why she should not start investing with a salary of RM 3k , paying RM 1k per month for the loan and getting +ve cash flow some more. Further more, this is investing and not speculating and well within her means.

When I was 28, I bought my 1st house for RM 110k. My pay that time was RM 1.8k and I was paying a monthly instalment of RM 635 for the housing loan. I rented out the house for RM 750 to a multinational company which rented the house for 10 years. So, every month I got +ve cash flow of RM 110. Then, I sold the house for RM 230k and bought a RM 1 mil semid in Setia Eco Park. By patiently investing, I managed to buy a RM 1 mil house.

So, my advice is based on my own experience. It's ok to invest even when still young and earning peanuts as long as it's within your means and can earn some +ve cash flow. The challenge is to look for affordable property which can give good returns and this is the advice TS is looking for.

bcoz everyone see d same thing, TS want to make a suicidal move, so we better help ts to avoid that. Loan to cover up loan, lolz its like a story i read on newspaper, a person that hutang to along, borrow from another along to settle it, later borrow from another along, along and along. do u know how much he endup with? haha but like always, hutang sana sini, go gamble, later all run to police n newspaper and make sad story.

what to do.. government offer 100%loan to these ppl wor, sounds like anybody can js buy a house like buy a handphone in lowyat. if i'm below 3k and newbie to the prop, then ppl keep saying "wahhh i made 200k within a yr of selling my prop, now is the best time to get into prop market!" then the greed frm ur heart would start tickle ur brain... then the size of the brain will start squeezing itself into bird shape..

why did you apply for personal loan at the first place? this is the thing with people nowadays. take loan as if they get free money. you still hae to finance that personal loan! and your PTPTN as well (black***t or not).

may i know who the donkey's heaven to take the personal loan to pay off the low interest PTPTN loan? p/s: my friend kena tahan to go overseas because PTPTN not paid.

hahaha ... sulifeisgreat ... you have been flamed!!!

radio ads continued: personal loans add to more personal debts (and high interest ones under current environments), restructure and move on.

Thanks for the advices & teguran membina.. hehehe.. especially to baharinsav62 with the long detail reply. U're correct.. For the rest, in case you don't know, for PTPTN blacklisted interest can reach to 8%-9%, they are going to CTOS, LHDN & EPF to do all they can to find the borrowers back, and when that happens, no more chance to buy property next time... And, FYI the loan actually under my good sister's name who works @govt sector & the interest is less than 4%. So please dont think I didn't do my math in this, OK...

About the property, thank you for the advices, I was ONLY just thinking about it, not even serious to take that risk. Only ask in the forum curious of what are the real risk involved if I really do it. Of course la I'm gonna pay for the PTPTN & settle my loan within a short period of time.

Hayaa... why so serious? Someone think that someone gonna jump off from building..

This post has been edited by jessecca8600: Mar 20 2011, 02:05 AM

hei, i thought u bought semi d in ambang botanic 2? or u bought both ambang botanic and setia eco park. rich man!!! by the way,ur advice is good. mind to reveal ur age?? i doubt i can do the same with u, my 1st house was bought when i was 29... let's see wat happen after 10 yrs. are u invest in only 1 hs or several house??

uh... why is thread even still alive

This post has been edited by ydingo: Mar 22 2011, 06:27 PM

lol, 14th floor, i scare u still breathing when u reach ground floor, take it to KLCC better, 100% works

27k
can buy property in KL ah
Rawang maybe
if not bukit beruntung

Be realistic
you are not ready yet
friend

sorry

Why do you need to buy a 1M dollar semi-d house btw? Is it because you have huge family, i.e. 6-8 members?
Wouldn't it be more worth investing if you purchased 2 terrace link, or probably 2-3 condos for positive cashflow anf capital appreciation?

---

Added on March 23, 2011, 10:19 am27k, you could still pay booking fees to purchase a house/condo.
Why not? If TS has 3k salary per month, I don't see why TS couldn't purchase a 200-250k condo or apartment.
The loan instalment for 30-40 years are less than 1k.

This post has been edited by HappyA_Q: Mar 23 2011, 10:19 AM