seriously??? got so many hse but dont have calculate to count your debt at the beginning????
must let go 1 hse already..use the RM 50K to pay the minimal payment of the loan la...
also go and get another job

if u die2 wanna hold on all the houses, cars, and loans then use the 50k to invest and make more money with it, increase your monthly income so u won't feel so tight to pay off the monthly payments

Hi bro homosapien,

Which bank is this may i ask? the interest rate offered to you is very attractive

Cheers

enroll in akpk debt management programm

You didn't provide info on your job/income status, so here is general advice: pay off personal loan, liquidate house 1, generate rental income from house 2 and get a cheaper car, leave cash untouched for emergency usage, this should improve your cash flow.

you are walking on fire

First up... you are an idiot.

Second up.... those financial institutions that loan you the money are greater idiots for making you an idiot in the first place.

OK, now come the advise part....

You said your DSR is 90%. Your total monthly commitment is about RM 8,400.

Max ceiling for DSR is 70%, so you need to reduce it by 20%. 20% of RM8,400 = RM1,680.00

You have RM 50k on hand. Pay off your PL with the RM50k and you immediately would have bring your DSR to 70%.

Good luck and sell one of your property if isn't generating positive cash flow. investment should make you money, not make you a poorer!

Xuzen


This post has been edited by xuzen: Jan 19 2015, 11:55 PM

You made a big mistake for buying a new car while having such high commitment.

Where got Personal Loan interest only 3.13%?
Which bank?
If that is the case, borrow some more lah

are you sure your personal loan is 3.13% p.a? need to judge on your personal loan interest before paying it off. DO NOT finish 50k as you need it as emergency fund if anything happens. Rent out 1 of your unit cheaper, sure got people want to rent 1.

settle Personal Loan.
Get a tenancy for the first house

You Should be fine from there.

Why Keep your 50k standby if the interest charged for Personal Loan is crazy !

Rates at 3.13% is usually only available when the BANK calls the customer, and not the other way. Though at 3.13% p.a. flat interest, effective interest is still about 5-6%, depending on the tenure.

i'm not saying it's good to take P.Loan but if the TS indeed took one at 3.13%, well NOT all P.Loan has THAT crazy interest.

If the properties are condos, then can easily rent out lah to cover the monthly payment. Houses? Good luck renting out to cover your monthly payment. Also "high valuation" of landed properties all mostly bullshit one. You have to depend on another greater idiot to take over from you then only you can exit.

TS is one job termination letter away to financial disaster.

True to that ...

meh~~

i will never let my spouse be in this situation. when you're getting married, you are marrying with everything he got..even his depts..what if the other half passed on? insurance sure will help but for how long? talk to her. teach her. educate. at least you left a good legacy

just my 2cents

high net worth individuals can usually get a good rate from the banks.

3.13% is flat rate and not actual effective rate which is a lot higher.
He borrowed 41,000 x 1.0626 (2 yrs interest) = 43566.6 / 24 mths = RM1815 mthly.

Small head wear big hat

Water reaches eyebrow still don't know, hahaha what a fool!