hi , my debt is about 1 million, hope to get advice from sifu here
i got 50k cash now, how should i use it now?

house 1 , debt 443k installment 2600/month , interest rate blr-2.3 - no rental
personal loan 41k, 24 month now left 18 month , rm1815, interest 3.13%
house 2, debt 460k - DIBS, will need to serve the installment 1Q 2015, installment about 2.1k a month, BLR-2.4
car loan , 100 k , interest 2.48 % monthly installment 1874, 5 year,

how should i restructure my debt?

my income to debt ratio is 90 % at this moment

This post has been edited by homosapien8888: Nov 10 2014, 06:37 PM

which house are u staying in?

U need to sell 1-house ASAP.

Hopefully, the value of your house has appreciated enoug to pay off your P-Loan also

so yr monthly comitment is around 8k and yr income is around 10k

rent out one of yr house if possible ?

if can get 3k its good enough. At least u still have half of yr income.

wow, you're one of the hero who contributed to malaysia high family debt to gdp ratio.

rent can get 3K ?? what type house ?? where ?? also want !!

lose 1 house, lose the car..get a cheaper car

Settle the loan with the highest interest first.
I presume the personal loan will be the highest interest among all.
Settle the 41k personal loan with your 50k on hand.
Try rent out 1 property, aim for rental at least equal to your installment, therefore less 1 worry.

car is a new car, cannot sell
house no1 is landed house, buying for capital appreciation, not selling unless bankrupt.
rental sure not good.my wife dont let me rent out as she dont want any1 to damage he house. Currently i m staying with my family. i m leaving the houseno 1 empty

This post has been edited by homosapien8888: Nov 10 2014, 06:53 PM

guys normally if house 1MIL
can get rent like how much ?
5k - 10k ??

i got 50k cash now. what is my option>?

value for house no 1 is 850k (last bank valuation)
shall i refinance?

personal loan is settled now will get penalty 5 %. so not worth it since the interest is only 3.13 %

Few good options given above by other sifus d...It's clear enough that something needed to be done to restore your finance health index.

Nothing can be changed, if you yourself dun change the mindset.

Anyway, no worries, you'll automatically know what to do exactly, when the real situation comes..

Interest 3.13% per month or 3.13% per year?

3.13% PA ..yearly

Trade in to a smaller (and cheaper) car. Improve your cash flow by getting part time job.

This post has been edited by tohtiengchiah: Nov 10 2014, 07:11 PM

ok.. on & off doing part time now
how to use my 50 k at this moment?
put in FD or dump into loan..?

i still haven't touch my money in EPF...

I too think sell of 1 house is best option, other method consists high risk of losing more, if you die2 wanna keep the 1st house then sell off the one VP soon, settled your personal loan with the profit you made.

Why keep an empty house not renting out nor live in ?

I can only says you can't afford both house with your current income.

I would give up the first house as 850K is quite high even if it reaches 1M on day it's quite difficult to find buyer, then you have huge surplus to play with, unless you intend to live in it near future.

Now you paying for nothing apart collecting dust & spider webs,...LOL

Talk to wife would she rather you go bankrupt soon ? Quite sure she understand.

Keep the 50k for emergency lah ! 50K really nothing nowadays, already you over indebtedness still wanna Hantam till zero saving meh.

salary increasing, more interested on how to max up the 50k lol...
my holding power very strong.. not thinking to dispose my property.
...
well supported in case anything happen