with lawyer.

Then a lot of investors will camp at Dataran Merdeka again...

Still too risky for me
Wat if yo fren/relative suddenly pass away (touch wood)?

Investors may end up facing the four walls (subject to thickness)

It is not a good move.

Dun worry... I think some developers will join too... haha

Actually its not a bad idea. Do it the proper way and beta stil if with a will fr each investor. Spare some marney for the particular jv prop(s) and it wont go too wrong.

Afterall, some youngster oso jv with papa mama rite.

mind to share why not?
i done this with my cousins. what is the impacts?

Heard GOV may limit the number of properties for individual?

😭😭😭📉📉📉

How to implement ?? Reduce LTV??

So now better to BBB first before they implement....

😄😄😄😄

Likelihood of capping number of property per person is almost 0%. Property transaction is part of economic growth, and contribute substantially to gov income (stamp duty MOT, service tax from legal fees etc.).

Interesting, mind to debate the differences between Gen X and Gen Y like you claim?

fresh grade in year 92-94 can earn 1200 -1500 k per month right?
i still remember the breakfast at that time is around 1.50 - 2.00 roti + teh / milo ais fair?
Lunch - nasi campur 2.50 - 3.00 (including water) - 3.50 if really large portion , petrol price? 1.50? (not sure coz still a small kid)
Dunhill (help father buy , 3.50 for 20), car park? free almost every way in KL. Toll? only at federal to pj (that i remember, price forget di... only remember less than RM 1)

Rough calculation for basic need per mth ,
Meal - 3 times a day (including breakfast) = RM 9 ringgit/ day = RM 270 ringgit / mth
Ciggarates (for smoker) = 3.5 / day = 105 / mth
Transport + toll , Petrol (not sure how much per mth, but still remember my father pump 20-30 ringgit each time at petrol station) so 30/week = 120/ mth ,
Toll , isn't necessary , car park = free

rough estimation for meal + transport + (cigarettes for smoker) = RM 390 (smoker RM 495)

Calculation :- 390/1200 = 25% of income ( smoker 495/1200 = 41.2% of income )

clean cut balance after deduct all basic needs (by using the lowest meridian salary RM 1200)= RM 810 (smoker RM 705)
from these clean cut balance than use to pay rent , water , electricity (also one of basic) don't know how much (Hope you can share)??
and please dun forget RM1 = SGD 1 during these time... double story house in Happy garden 40k-60k (average 4 to 6 years annual income)


For myself, (start work in year 2008 basic 2.1k) .
grad at that time can earn basic 1800 - 2400

The breakfast at that time is around 3.00 - 4.00 roti + teh / milo ais fair?
Lunch - nasi campur 5.00 - 6.00 (including water) - 7.00 if really large portion , petrol price 1.90
Dunhill (RM 8.20 for 20), car park? Average RM 10 almost every way in KL = RM 10 / day = 300 / mth . Toll? Have to pay 3.60 per day (going and return) = 108 / month , a must because no any other way around it unless drive a big big round.

Rough calculation for basic need per mth ,
Meal - 3 times a day (including breakfast) = RM 13 ringgit/ day = RM 390 ringgit / mth
Ciggarates (for smoker) = 8.2 / day = 246 / mth
Transport + toll = RM 408 mth (ok not everyday also pay and park the car + pay the toll) = RM 270 , Fair?
Petrol = so 60/week = 240/ mth ,

rough estimation for meal + transport + (cigarettes for smoker) = RM 900 (smoker RM 1146)

Calculation :- 900/2100 = 42.85% of income ( smoker 1126/2100 = 53.62% of income )

clean cut balance after deduct all basic needs (by using not the lowest meridian salary, but my salary RM 2100)= RM 1200 (smoker RM 974)
from these clean cut balance than use to pay rent , water , electricity (also one of basic) around RM 350.00 (my expenses excluding mobile phone and internet to make a fair comparison)
RM1 = SGD 0.50 .... double story house in Happy garden = 800k to 1.x Million (average 31 year and above annual income)

I see these logic, earn less than the inflation and earn less value compare to Gen X (Gen X are earning SGD) + save lesser compare to gen X coz toll and carpark once considered to be avoidable expenditure in year 1992 and year 1994 is now one of the basic . e.g ? look at cyberjaya , you can't go anyway without paying toll . Yes , we can still park for free at KL downtown, if we have time to spare . Some say Time = money , for investor , time is something they cant earn , but money they can.

kindly advs me if the salary and expenditure for year 1992-1994 i mention is incorrect and hope gen X can come in and debate on these issue to raise awareness on how our lifestyle is changing because of the country governance .

edit - why i bash governance?
Ciggarates price increase because tax
Toll is also tax
Car park , the land belong to government, but they rent it to some abc individual to collect car park from us.

This post has been edited by wanted111who: Sep 22 2013, 12:04 AM

In 1995, petrol was at rm1.10 per litre and it is ron97.

Agree that property transaction is part economic growth and it contribution to GOV income.

Any cooling measures will also have the same potential impact... true?

How many percentage of population would have more than 5 properties in KV?? Can GOV say Stamp Duty for individual with outstanding more than 5 properties pay a higher %%?? An upper middle class couple can easily afford 3-5 houses in his lifetime period, but there are people that have a higher allocation to properties, and there are people even flipping.

So implementing a cap may even result in better income for GOV, as these measures are targeted at flippers.

Only those who remains stagnant in their job will struggle. You cannot depend on salary increments alone to catch up with inflation unless the company you work for provides an increment of 10% PA. There are many who choose to hop between jobs to constantly improve their remuneration. Each jump normally nets them between 20-30% jump in salary. So, depending on how many times you job hop, in 10 years, that is quite significant and will catch up to inflation of living standards (not necessarily cost of properties). Now, if a person cannot hop because of lack of experience or just not qualified enough, then that's life isn't it? Who says life is fair? Life is as fair as your make it to be. Depend not on others.

There is no point in comparing other countries. Countries economy is not something we the citizens can do something about. It is what it is. But what we can do is our circumstances.

So, lets look at your example. Started work in 2008, how many times have you job hop? Are you good in your skill that you get head hunted? You have had 5 years since then. Tell me now that your salary has increased to 4-5k a month at least? If you depend on 10% increment per annum, then you are only earning RM3.4k a month in 2013. Mind you, many companies don't even jump 10%. If your objective is to buy a property after 5 years or working, who says there isn't any to meet your budget? The problem is, a lot of people are not looking for property within their capability. Instead, they want property price to come down to meet their needs instead. They get influenced by the the profits that many have made in the past few years, influenced by all the advertised properties, influenced by all the people around them because suddenly, everywhere you go, people ask, "Which property have you bought?" or "Don't wait, price will increase. Buy now". So many times I have heard even those in the mid-20s look for property to invest, not even for their first home.

My time, many were looking for staying. Now everyone wants to buy to make money.

It would be best answered by a lawyer. But any way if you think your cousin can be fully trusted, it is ok.

that's the worrying part. Bubble bubble

My income now is around 6k-7k, but mind you not from my salary.I will never get 6-7k income by hopping job or salary increment, (do you have a son?or daughter?) tell me how much they get after working 5 year? You can only get salary jump only by promotion not job hopping nor normal salary increment. Some innovation and opportunity for me to leverage on money and people is what made me these income.

You're speaking of my salary can get me a lot of property, you're right, there is plenty that i can reach out there . In fact i have been approved for a loan for a 439k property recently but do you know what i get for that 439k now? not a landed property , that's for sure .

Yes , you're right again many buying not for own stay , but what's wrong with that? like i said earlier for some people money = time . for another some ,time we can't earn but money we can earn. If I'm the type of people that think time = money , i think my salary is now same as the salary like you mention 3.4k. But because i know my time is limited to 24 hours a day , i can't use time to exchange income coz there is a limit , i need to leverage on some people and on money to help me build my wealth. 20 years ago, not everyone understand these concept. but people are getting smarter nowadays.

Now on affordable property part, there is a lot of property which are super cheap if we survey around like in nilai , seremban, dengkil etc which are far away from KL , But my mentality is = time i can't buy , but money i can earn. if a property take 30 minutes to reach KL city center , then it only take 30 minutes , that is something i can't change nor buy.Coz for me , time 1st , money second.

Sorry , but I don't see your advs on job hopping nor buying affordable property is going to help. But i respect ur opinion, coz maybe that's how you build your wealth.

Again time is something i cant buy , Gen - X = build wealth steadily and slowly, they will be mid 40 by the time when they build significant wealth (retiring) , for me , i need to build my wealth before my youth expired and enjoyed my youth in early/mid 30 coz i dun want to regret missing my life in mid 30 to 40. It is risky but if I'm not fit to stay alive in these environment, then I'm just not.Simple.

All I'm saying is if i were born 10 years earlier I would have been retired by the age of 30 , but it isn't possible for my generation unless with a support from behind which isn't my idea.I like to take risk on my own behalf, achieve what i can solely on my own without support from anyone coz I'm feeling better that way and it doesn't hurt my ego.

Wouldnt it affect your relatives' ability to accumulate their own properties too?

Me is generation X. I also planned to retire at 30, but failed.

Last time, I always say Gen W has way easier life than Gen X. Now I hear Gen Y say Gen X is better. I feel I am getting old because there is another generation now saying my generation is better

Every generation always thought that the last generation is better