Give it to me

thanks 4 yr advice..

house 1 cannot rent out
maybe can rent out the house 2 once ready

i also keen to make a will... haha in case anything happen...maybe will find a suitable time n will do if got promotion.

i already had insurance. nowaday insurance is a must.

if you can rent out house 2, it would be great. but for safety calculation purpose, i'd normally leave out uncertainty things like this. lousy tenants can just lari....kena before.

With that income debt ratio you can declare bankrupt already. Your prize for trying to be smart and cheating Bank Negara with your loan application. Keep the 50k under pillow in case you got sick or fired from your job.

Personal Loan of RM1,815*18months=RM 32,670. Since cumulative interest rate is only 3.13%, you should fork out ~RM 33k from your cash stack of RM50k into FD monthly-auto renewal with interest rate higher than 3.13%, therefore it should be able to cover your personal loan with interest stacked up.

Since the personal loan is settled, your debt ratio should drop to approximately 65% (assuming the house 2 installment of RM2.1k is taken into account of your 90% debt-equity ratio), with free cash of around 3.5k monthly to roll (assuming your salary is approx RM10k nett of SOCSO,EPF,etc), and with the remaining RM17k cash in hand (suggest to put it into FD monthly-auto renewal), should be able to give you a breath, and with an increasing salary, you should be able to hold off without doing a part-time job.

But still, I suggest you to do something with house 1, as it is a major burden. At least rent it out if you're holding it for reason of capital appreciation.

What car are you driving exactly? Is it a new Benz or bmw? If it's just some rm150k and above japanese car then my advice to you is to sell it and get a second hand Benz. The year of the car model should not be before 1995. An e series 1995 model ranges around 30 to 40k plus maintenance after purchasing it should go up to 40k for the car. You still have some image there as you're driving a Benz. The balance of money from the car sold can be rechanneled into fixing your debt of yours.

The reality in life is harsh as you may have now know. From the statement you made, you need to change the people around you. Good salesman are only interested in creating value in others. If he or she judges you only from the car you drive, then they are just interested in making money out of you.

This is probably the hardest to change, you gotta get quality friends that are going to support you through tough times. That's what friends are for. So what if you're not doing well? It's the up and down of going through life.

You gotta act fast and make decision my friend. It's not going to be easy but it's possible. All the best in the future.

TS is asking how to use his 50k cash only.... Obviously he is not in any financial trouble..... So many ppl asking him sell this sell that for what?.......

thanks my new car 140k
prefer new car lower car maintanence,,

i m having the same thought about that.

bigger size... probably high end toyota/honda/inspira.. assuming new...

Refinance hard???? I thought u always says refinance super easy??? undertable or whatsoever mah........

u r absolutely right....i m not in financial trouble. after years of prudent spending...
i just want to maximize my 50k
at the same time try to restructure my debt to create better value for my financial planning

If your 1st house is under full flexi loan or semi flexi loan.. then my suggestion is dump in all the 50k to your first house loan, not as advance payment, but as capital to contra the loan principal. You will be charge 50k less of interest which is better than any FD you can be getting out there.

Current BLR at 6.85, your first hse interest rate is 4.55
if you need emergency cash, full flexi or semi flexi acc can let you cash out your capital.

but if you are taking conventional loan, then is a but risky to do this.

your option to refinance is very slim, because your dsr already burst. Moreover, the difference in the value cannot be stretch for more than 10 years, which is a super big portion in repayment.

Haha!
TS relax only

a very good suggestion
i m also thinking about that now FD 4 %
but bank BLR- 2.3 = 4.55%

where to dump money in

Never go for prepayment for bank. It is a stupid idea because you earn no interest and bank earn your interest while holding your money.

rm600 wor...

house loan 1 semi flexi

house loan 2 full flexi

Yalor.....ask A. Get answer for B. He already mentioned he has strong holding power....n many thinks he is in financial trouble.

that is provided one still have credit left.. those who do not stretch till max, 90%, bank negara only 70%..

the undertable mark up valuation report for refinancing is allowable provided you have credit left..

at the end, both are stretching till max effect, but refinance in this way , you have cash in hand

my few cents

wasting time saja giving advise.

sudah foresee will be in trouble sumore 1st house can not rent, car too new can not sell.. all full of excuses.

if everything also can not, ask advise for what?