Hey everyone,
Need some opinions.
Heres my status,

Main Income
Net income: RM 3900 (just started work, 1 year in june)

Expenses
Personal Loan: RM 1136/m (100k, 10 years)
ASB Loan: RM568/m (100k,30years)
Commuting: RM 540/month (trains/fuel/parking)
Car maintenance/service: RM 100/month (using gramma's unsused car)
Maxis: RM 100/month
Food: RM 800/month (inc. parents dinner)
Brother's insurance: RM 200/month (self insurance under company)
Gym: RM175/month (this is abit high but i do enjoy the luxury)
Enterntainment: RM 50/month

Side Income
Bussiness A: min. RM 2000/month
Business B: min. RM 300/m
Investment A: RM 550/month (was RM1400, but then they had to restructure thier program and I lost some confidence, so i took out 60% of capital)
Investment B (ASB): Expected about RM 8500 for this year.

I am planning to buy an appartment in 1-2 years time for own stay. Am I on the right track? From my calculation, if everything run smooth. I should be getting all my capital in 2 years, and should have enough deposit for a 500k apartment.

This post has been edited by Musikl: Apr 28 2015, 05:35 PM

OnG. Yeap 100k.

For both businesses and the investment. 3.632% p.a. isnt really high, and it's reducing balance interest.

Thanks for the response. I rarely go out. Most of my friends are old farts with family. Not in relationship. However I do have an expensive hobby. I reserved my bonus for that.
As for the 100k. My investment and businesses can be liquidated easily if anything goes wrong. I plan to stick to this for a year or two.
I'll look into the OD facilities.

Its a special rate for employees of the company im working in. From one of the local banks. But not MB/CIMB/BR

Wow thats great! happy leverage!

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++

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

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

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?

Hey all,
Seek your views on my plan to consolidate my loans.
I am planning to do a top up loan on my housing loan next year when I get VP.
Existing home loan is 355k, and hoping to get 450k, 95k top up. (subject to valuation)
Currently serving the interest, and post-VP, I will be paying RM1626.00 @ 4.5% interest

I got a RM60k PL (was 100k, then I refinance at 16th month and paid some amount, down to RM60k). Outstanding of RM57k
I've been paying this for 9 months already, and got another 111 months to go. RM690.48/m @ 3.81% interest

HP with outstanding balance RM46k (Probably 42k if want to settle now) and currently on 19th month. 65 months to go. RM711/m @ 2.77% interest

So total loan id be serving upon VP is 711+690.48+1626= RM3027.48/m

I plan to do the top up loan so that I can pay up the PL and HP.
This would reduce my monthly commitment to RM2300/m (for the 450k home loan)
Difference of RM727.00.

Worth it to do the top up?

I plan to further my studies and work abroad, and my side business/passive income can cover that no problem. Wanted to focus on one account instead of 3 (and few others) for better management.
Also got cash to pay either one full (HP/PL), but prefer to keep for my study budget.

This post has been edited by Musikl: Jul 16 2018, 03:54 PM

Dog friendly? Mind sharing where this is? Desa park?

Dog friendly? Mind sharing where this is? Desa park?