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Property Investment Strategy, tricks n magic
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cmk96
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 Oct 1 2013, 07:07 AM
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QUOTE(hondaracer @ Oct 1 2013, 06:40 AM) To get a 1 million loan, need installment of rm 5000 monthly, means bank will only approve the loans if you have rm 15k income(I.e. 1/3 rule, but today using net income instead of gross income). So it means you need to have net income of rm 15k. That is my basic understanding. 1/3 rule no longer being used nowadays... forget it... some banks can lend up to 75% of nett income... i applied a loan with a few banks few months ago... they told me... ppl can leverage higher than before... no need 5 figures income also can buy a 1M property... try ask the banker yourself to verify. |
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cmk96
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Oct 1 2013, 07:53 AM
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QUOTE(wil-i-am @ Oct 1 2013, 07:42 AM) Lets say yo net income is 10k After instalment, left 2.5k U think 2.5k enuf to use if have family? Wat i think n wat u think its not important. Important is wat the bank think. Ask bank y nowadays they approve up to 75% income. ppl want to flip. Then flip at own risk. Dont blame the bank. U r in control of your finance. |
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cmk96
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Oct 1 2013, 07:09 PM
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QUOTE(endau02 @ Oct 1 2013, 05:44 PM) If u wanna buy hauz now, get fixed rate frm aia la. i just refinance away from AIA fixed rate... its not worth it... u try calculate how much interest accumulated for the next 30 yrs.... faint! |
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cmk96
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Oct 12 2013, 01:07 PM
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Some ppl flip a few condo and managed to fund a new landed without any loan. its a real story from someone who invest since 2008. Isnt that is more rewarding than playing rental? And stay in rented room. But ofcoz, no one can predict the future. Late comer into the party hold the highest cost of entry. need to be extra careful. Thats life. But early flippers already hv hundreds of thousand in their bank. They dont stay in rented room.
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cmk96
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Oct 12 2013, 02:44 PM
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QUOTE(akelvin @ Oct 12 2013, 01:22 PM) When you are talking about reward, do you take into account of the risk that you are assuming? Party doesn't last forever and we will know who is the naked swimmers when the low tide comes. Also, when are talking about being extra careful? What strategy do you have when the storm comes? My income can withstand a 10% of loan interest while no one is renting either of my props. Well, maybe I just don't have the gut. when u plan to hv your own house then? keep renting forever? my income and saving can last me 2 yrs of loan... no need to rent, no need to borrow...n i already hv my own landed house. if u do not have the holding power... then u better play safe... nothing wrong... ppl keep saying crash will come... but who cares? early flippers hv a lot of money to withstand increase in BLR.... as i sed earlier, late comer hv higher entry cost... that's y they need to be careful. |
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cmk96
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Mar 2 2014, 07:19 PM
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QUOTE(iz_meched @ Feb 14 2014, 10:15 AM) thanks for sharing... Same with you... 2010 with salary 2.5k i buy Semi D 40'x80' with built area 3000sf at Melaka about 250k with 1k monthly installment. im lucky that time im apart of first bid group. The developer offer to o many pakej including 0 down payment, free legal fee, stamping, free kitchen cabinet and ect. At same time im working at S.alam... now that properties i rent to people with monthly 1.5k. that time i got extra income rm500 2013 with salary 5k i buy the 550k superlink 24'x80'. also same with my first properties 0 downpayment, free legal fee, free MOT and ect. with monthly payment is 2.5k and rental 3.0k. Now im looking for others properties like shop lot. Any suggestion?? Great story. U didnt buy any property for stay? U stay with parent? |
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