Oct 17 2013, 10:08 AM
QUOTE(lamode @ Sep 30 2013, 03:53 PM)
Before I start, let's have this thread focus on strategies n methods instead of bashing others, I'm sure there are other taikor, leng lui, leng chai and smarter people with better strategy out there. 
Saw some comments @ MOVE TO COOL OFF PROPERTY INDUSTRY COULD BACKFIRE, so let me share mine in here since I am 25 and I believe in knowledge sharing.
2007 - I had my first fulltime job when I was 19 with about 2k+ package in IT industry, renting room here n there. Prior to that I was a student with about 3 years exp in FX trading and fundamental of investment, played it on my own free time as an interest n source of money.
2009 - close to 3k package. I had enough of renting, after few month of searching, i bought my first property, a 3 rooms condo in cheras @ 210k. It wasn't easy to get a loan from bank, but it was do-able and I did it. I used my savings + money from investment n trading + loan from my mother + loan from bank. Moved in with minimal reno n basic Cavenzi furniture, rented out the master room n mid sized room...
2010 - Bought second property, 1120 Park Avenue, it was the HOT n affordable, so called high end flat at 265k. I shared name with my brother as we both wanted to invest, but lack of cash & borrowing capability, by joint name, we secured the loan. btw, we applied few banks, only one approved.
At the same time, I realized that I had to somehow increase my income to increase my borrowing capacity. Took some professional certs n started to job hop, by the end of 2011, my package was around 5k.
2012 - Getting some side incomes, played around with 0% credit card balance transfer etc etc, nothing much to shout.
2013 - This is the year of reaping of what was sow
- Planned to refinance my first condo, as the bank valuation is ~360k, but decided against it due to failed to get a loan with early exit penalty waiver.
- 1120 PA is completed, before the VP, I sold the unit to my bro at about 380k (market price was about 400k at that time tho), we will sort out the paperwork next year. He then rented out with our names in tenancy agreement.
- Just before CNY, I bought two units of SOHO in Cyberjaya, for a total of around 550k under commercial title. Managed to get loan by standard income docs, tenancy agreements and some FD certs.
- With package close to 5 figures. Now looking at EkoCheras which is less than 5 mins walk from my condo, the project priced at ~750k, hopefully it works out fine
Think positive, learning, planning and actions are main drivers in my life over the years.
For a better or worse future, now my debt exceed 1M, and for greater good, it might be 2M in 2014.
Excellent. .Saw some comments @ MOVE TO COOL OFF PROPERTY INDUSTRY COULD BACKFIRE, so let me share mine in here since I am 25 and I believe in knowledge sharing.
2007 - I had my first fulltime job when I was 19 with about 2k+ package in IT industry, renting room here n there. Prior to that I was a student with about 3 years exp in FX trading and fundamental of investment, played it on my own free time as an interest n source of money.
2009 - close to 3k package. I had enough of renting, after few month of searching, i bought my first property, a 3 rooms condo in cheras @ 210k. It wasn't easy to get a loan from bank, but it was do-able and I did it. I used my savings + money from investment n trading + loan from my mother + loan from bank. Moved in with minimal reno n basic Cavenzi furniture, rented out the master room n mid sized room...
» Click to show Spoiler - click again to hide... «
2010 - Bought second property, 1120 Park Avenue, it was the HOT n affordable, so called high end flat at 265k. I shared name with my brother as we both wanted to invest, but lack of cash & borrowing capability, by joint name, we secured the loan. btw, we applied few banks, only one approved.
At the same time, I realized that I had to somehow increase my income to increase my borrowing capacity. Took some professional certs n started to job hop, by the end of 2011, my package was around 5k.
» Click to show Spoiler - click again to hide... «
2012 - Getting some side incomes, played around with 0% credit card balance transfer etc etc, nothing much to shout.
2013 - This is the year of reaping of what was sow
- Planned to refinance my first condo, as the bank valuation is ~360k, but decided against it due to failed to get a loan with early exit penalty waiver.
- 1120 PA is completed, before the VP, I sold the unit to my bro at about 380k (market price was about 400k at that time tho), we will sort out the paperwork next year. He then rented out with our names in tenancy agreement.
- Just before CNY, I bought two units of SOHO in Cyberjaya, for a total of around 550k under commercial title. Managed to get loan by standard income docs, tenancy agreements and some FD certs.
- With package close to 5 figures. Now looking at EkoCheras which is less than 5 mins walk from my condo, the project priced at ~750k, hopefully it works out fine
Think positive, learning, planning and actions are main drivers in my life over the years.
For a better or worse future, now my debt exceed 1M, and for greater good, it might be 2M in 2014.
I know a dato sifu who conduct training for investment property. How to choose a correct location, timing and price. ifyou interested I can share the info. But is in chinese
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