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++