has anyone attended this seminar before?

How much is it for attending her course and what is your experience after listening to it? does it help ?

here is her website http://www.masteryasia.com/propertymastery/index.htm

she offers 50 first free seats. otherwise need to pay RM58 per seat.
I havent attended, just registered only, hoping to get free seat.
seems she's really good, but im more interested how can she invest in property with little or no money.

i have attended a similar seminar but not hers...

LITTLE or NO MONEY - is actually quite simple.

Example :-

Price of Condo : RM 100k
Buyer and seller confirms the selling price. So when applying for loan. they will STATE a higher selling price ie RM 150k. since the price is higher thus they tell us its little money (legal fees lor) or no money...heheh

PS : if you are attending her seminar ask her this question.

PLEASE PROVE YOUR ARE A MILLIONAIRE AND YOU OWN LOTS OF PROPERTY. If she has bank statements or property contracts have a look at them so as to prove she is a genuine millionaire and property magnet...

This post has been edited by ParaOpticaL: Apr 18 2006, 08:11 PM

Renesial Leong? Property queen ? who d heck is she? Yeah...how many properties she owns?
i heard of Dato Alan Tong, the Condo King, and the ex-Sunrise chairman la...now, he is one property-man la.....

One is the buider / developer of real estate.

The other one is purportedly, the one who makes money by investing in properties.

Hmm! true also.. should ask her which of her celebrity client that has make so much money by now.

anyone attended her course before?
according to my friend , she buys property by buying her first property and than expanded to 78 properties now.

eg.

First house is RM 400K
Deposit of 10% is only Rm 40K
You Rent it out RM 1800K

1 year you take Net Profit (RM 300 x 12 months) you earned about RM 3600 per unit per year.

You do the same for the next property and multiply them in 10 year time.

Same time your property appreciates too.

This post has been edited by hackwire: Apr 20 2006, 08:30 AM

in the 1st place...do you have RM 40k ?

something you got to understand...not everyone has money...you got to be realistic...
i am assuming she is buying some high-end property to be able to rent out @ 1.8k

can you ?

i do agree with you. these days those condos also cost around RM 400K at least. Rm 40K is very hard to find also.

but i think if you already own the first property , maybe you can mortgage to get the second home and then mortgage the second one to get the third one. possible right.

no every place u'll find ppl to rent ur house.

They all say now is the good time for property. But actually it's not. It's buyers market now not sellers market. You have to really buy those prime area without competition, then sure ppl willing to pay high price for your rent. Else forget it.

I know Azizi Aziz, the book hartanah jutawan. Renesial Leong? dunno la But now alot of this kind of seminar. Feng Sui seminar, online business seminar, how to close sales seminar, etc

Hi,

Did you do any calculation?? To take a 30 years loan at 6.6% for 360K, your monthly payment is $2,300. If you rented it out at $1,800, you lose in cash flow of ($2,300 - $1,800) = $500 per month. If you do it a few more times, you will be bankrupt..

Where is the net profit?? You have negative cash flow.

To make a profit of $300 per month, your monthly payment need to be $1,500 aka you can only take a loan of 235K. That means you must put in 400K - 235K = 165K.

To put in 165K and only earn 3.6K per year, your earning is only 3.6/165K = 2.67%

Why don't I just my money into FD and earn 3.7%??

Please noted that I have not put in any maintenance or quit rent and so on...

Dreamer

Bank also not so stupid to give 150% loan coz they have their own valuers. Unless give some bribe maybe la.

whether they are stupid is another thing...this Strategy has been proven many times...

rest my case

How about this?? You buy a house at 100K which is way below market value but the house is actually valued at 150K. The house seller is very desperate. Since the bank is giving your loan based on the market value as opposed to the actual selling price, it might happen.

Is this posible with banks in Malaysia??

Dreamer

yes very possible with banks in malaysia.
like i said it has happened many times.

sometimes you need a 'good' helping hand from the Valuers at times.

Are you sure stating that you bought the house for RM150k when you are buying it for Rm100k to get more loan is a good idea? I dont think so....here's why: -

1. You have to state your price of Rm150k in the S&P aggrement. And upon signing, you have to pay 10% of value...meaning RM15K. So say you make verbal agreement with the seller earlier that the actual price is RM100k, but later the seller decide to screw you and say that misunderstanding...actually RM150K....then you either lose RM15K by not buying(forfeit deposit) or cough up somemore RM 135K....

2. S&P Lawyer's fees is based on value of property transacted. As S&P is stated RM150k, it'll be based on RM150k

3. Stamp duty is also based on property value....and as per no 2.

4. Loan agreement Lawyer's fees & stamp duty are also based on loan amount, so same as 2 & 3.


minolta

Mod: can we hav a single forum on Property Discussion?

This post has been edited by adrianocy: Apr 21 2006, 08:51 AM

yup me too suggest for a property discussion because its very crucial information for house buyers to know a lot of grey areas in property purchase in malaysia.

Dreamer 101, thanks for highlighting my mistakes. are you in this line, u seems to know alot of this thing by looking at the calculation you makes.

Hackwire,

I am not in this line. I am an engineer. I learnt financial stuff on my spare time. You can do this too easily as long as you know how to use Excel.

Dreamer