ABIT off topic but...

1) when you say compare during good economy days means it's not good now?

if you follow the FD thread though, the promo fd rate has been slightly higher than before, but is also slowing down.

2) actually while i'm not too sure about these buy now pay later scheme is about, deferring the inevitable doesn't really solve the underlying problem of having enough money for down payment or other expenses to own a house. so be wary of the so-called 'pay later'...

Well, compare to prior USD shoot up like madcow, I do think those are the days we still have above average economy. Nowadays is just killing the younger generations. FD is one of the ways for me to do savings. Still figuring which I wanna go for.

As for the buy now pay later scheme by IOI, just wanna see if is suitable. I guess I will go for sub-sales instead of new houses as sub-sales have more choices for me to choose.

Seeking enlightenment
hi. currently i'm self employed. but due to some family issues,
the company is not registered under my name (my parents), and all my shop operations are run using my personal account (regret this)
although i registered a new ssm but it cannot be used (first, its less than 2 years, 2nd, the shop premises was leased to my parents' company not mine, and the contract expires end of next year, so i have to stick to their company temporarily now).
Technically i have no commitments, since everything is under my parents company's name, car, loans, etc.

so technically as an employee, ,my monthly salary is 3k, having EPF too. Am i eligible to apply for loan?
If yes, how much can i apply for and for how long.

Hi, what kind of loan and the loan amount?

In the bank's eyes you're a salaried employee either way. RM3K should be fine. Of course don't expect RM3K to be able to get you a RM1m loan.

Thanks for replying. I'm trying to get around 35K for personal loan, if that's not too much.
Is it possible?

Hello everyone!
Thought of seeking some opinions from fellow forumers on my financials.
Ok here we go.
Income gross: RM4.8k/m (RM4.3k net)
Side income: RM1.5k/m (average)
Last years UT dividend: RM9k
Monthly spend: RM2k/m (fnb, train, car, utilities)

Commitments,
Car: RM 625
Personal Loan: RM 1125
ASB Loan: RM568

Im planning on buying an apartment for rental investment. Property at RM200-220k (havnt neg), and rental could get RM800-1100. Monthly maintenance is RM55.
Bank valued the property at 200k which means ill have to top up the rest, and if loaned 180k, id be paying about RM880.
My plan is to price the rental at RM700 per month, and that the tenant would need to provide 6months of deposit.
I know its low but this is a basic unit, my plan is next year to renovate it abit and set the rate higher. First year id like low risk on the tenant.
What are your opinions on this venture?
26 now and planning on keeping this unit for 5years++

hi, first of all, im not some pro financial guy, just here to offer my opinion
im quite impressed with ur achievement at ur age(side income,UT,etc), I think the property investment is a good choice. 200k can rent at 800-1100 is very good, can cover ur loan installment. you don't even have to pay a cent.
I don't think is good idea if u planning to rent out at low price in the first year only so that you can rent it out faster/easier, better research whether renovating the unit and rent out higher is better or not, ask the agent/neighbor around that apartment.

which area and housing can get 200 k , mind to share?

Thanks for the opinion.
Regarding the first year rental, ill check with the current tenants, see how much they're paying at thr moment. From there ill decide what to put. I just need this rental income for a year so that banks can take this as additional income, and would make any future borrowings easier/increase my credit limit.
But yeah ill make more local insights research. Hehe
Targeting 10k or more by 30!!
Thanks again!


Ill get back to you after I seal of the deal 😆 Heh

This post has been edited by Musikl: Mar 29 2016, 05:01 PM

from what I know, there is some apartment/condo studio room which cost 200k+ can rent out around 1k+ to students,
that area got college and U. it is a good investment, but im not sure where is the one u looking at la.

Just a few question to ask :

1) Do you have enough emergency fund?

2) Are you sure that tenants able to fork out 6 month deposit ? As i know most tenant hardly pay the rental on time.

1) After buying the house. No. What sort of emergencies anyway? Insurance got, car new(warranty), accommodation covered, work secured (stabil company at current economic condition and im a scholar= company spent 400k on me).
The way i see it, emergency fund is being kept not doing anything other than earning the 7.xx+ dividend in ASB. Atleast with property, i could leverage more by refinancing for further business/property ventures. However, note that i can liquidate the side business.

2) Hence why I put it lower than market. 6 months is only 4.2k. By doing this, I believe id get a more long term tenant. And also could control thier late payments by limiting utilities at stated late period. Lowering the risk of defaulting.

Also note that my young mind is being arrogant

Not the same place..

This post has been edited by Musikl: Mar 29 2016, 07:24 PM

Just to hijack to give my input.

As a renter myself. 6months putnme off entirely. Will definitely such places where the deposits is so high.

There were a lot cases where renters run away but also a lot where owners are not giving depo back so 6mths will put off real alot ppl.

Even if the rate is rm300 cheaper? Say most of the ads state the rental to be around rm1000, would you go for high rental low deposit, or high deposit (but not rediculously high <5k) and pay alot less monthly rental? Thing is, the tenant can report to tribunal if the owner doesnt return the deposit, but just make sure it is stated in the contract. Im not entirely sure what the owner can do if the tenant runs away with say 2 motnhs owning. So the 6months deposit balances out tenant/owner's risks. Isnt that fair?

the 6months deposit doesn't make sense to me unless the condo/apartment is very highclass, what is the exchange for tenant? eventhou the rental is lesser but u bind the tenant for 6months deposit, and how many months early notification u need if tenant wan to move out?
a lot tenant doesn't wan to go thru the hassle of reporting for deposit not return by owner, and most of the time the deposit will be directly deducted as last 1 or 2 months rental, and tenant can go after that.

just my opinion

Hi guys can give some advice on my financial :

Just started working
Age 24
Nett income: RM3.5k

House rent: 225
Water + Electric : 170 ( Include parent house)
Motorcycle loan: 431
Parents: 300
Phone + Internet : 140
Fuel : 80
Saving : 1364
Eat : 360
PTPTN : 80
Self spend + shopping : 350

Current Saving :
Tabung Haji 3K ++


Planning to married next year.

Btw I'm thinking to invest some portion of my saving into high dividend stock. It is good idea or i need to save more before start investing ?

This post has been edited by ajin999: Apr 2 2016, 06:26 PM

-deleted-

This post has been edited by T231H: Apr 2 2016, 06:26 PM

ok already fixed.

normally, people would advise having some kind of "emergency" funds filled up before getting into investment.
the amount of this emergency would have to "also" depends on your easy of getting another job of similar pay, your ease of getting loan from family members for those just incase situations.....(like yr bike kena major repair)...... and other considerations.

btw,...you are looking into investment into high dividend stocks......found some articles about danger of high dividend stocks.....
Everyone loves dividends, but reaching for yield can have disastrous consequences.
http://www.fool.com/investing/general/2016...s-to-avoid.aspx

This Stock Has A High Yield Of 6%, But Are Its Dividends Safe?
https://www.fool.sg/2016/03/11/this-stock-h...dividends-safe/

just a note: there is always risks in investment...some are higher than others, and some may have changed over time.....


This post has been edited by T231H: Apr 2 2016, 06:51 PM

thx bro. will read it