Dear,

1. Property investor doesn't play by normal game

2. They invent and create their income.

3. THere's so many ways to do it, even if you are employed to a 9-5 job, you could be investor getting lots of loan and invest multiple units at a time. All you need is technical knowledge in how to do it.

DO be aware of the risk of accumulating too much loans.

Cheers

This post has been edited by Madgeniusfigo: Jul 8 2016, 12:41 PM

3. THere's so many ways to do it, even if you are employed to a 9-5 job, you could be investor getting lots of loan and invest multiple units at a time. All you need is technical knowledge in how to do it. <--- where can I get more info on this technical knowledge seems like investors only talk about how to generate passive income through rental, zero down, motivated sellers, capital appreciation etc... not much info on how to qualify for bank loans for your property portfolio (not referring to your first home loan), I'm talking about getting loans for your second, third, fourth, fifth property which will exceed your average 9 to 5 job salary....

Dear,

1. Well, there's lots of seminar from guru out there that teaches you how to exceed your limit and but with huge risk and with unlimited loan. Some of them collect fees, some of them give out this info for free.

You can try search

2. Technique that people uses:

a. Creative accounting, whereby following close guideline of the bank and within bank policy, there created new passive income that adhere to banks guideline. Such as, new tenancy agreement, new income other than his own passive income.

b. They partner with their friends and families to invest in property, either 1 party paying the Downpayment and another securing the loan or vice versa or both securing the loan together.

They would use either Investment holding company (Which is suitable only for commercial property at best), or legal tools such as power of attorney or trust of deeds to secure the partnership and invest the property

c. Use your families, aunty abang adik ah ma ah kao 90% loan quota to secure new loan

d. Have your income increase via promotion or commission, slowly acquiring one house at a time and rent it out, get tenancy, accumulate enough income for down payment then repeat the process. (Slower process but mitigate risk of partnership)

Well, you see, there's plenty of tools and ways to do it, Just briefly writing it, there's already 4 ways to help you get more loan. Knowledge is king.

Cheers

While there are techniques that are used, it's more or less understanding how the bank system works, my advise is to buy within your own mean and don't get over creative with the system.

You may learn these things through financial seminar but becareful of some of the things being applied that might be illegal. Please make sure it's done in proper channel and if not sure, always check with the banks or accountants.

dear sifus, for 2nd home, is it better to loan from a different bank or stick to the same bank? any pros and cons? (assuming rate is same, full flexi loan)

thanks.

More or less the same in terms of facility type, different banks will have different interest rate that they will grant you but sometimes if the bank is the same then approval might be more lenient as they have your payment credit track record with them and you're their existing customer.

the con is probably you have another different bank to work with so if you're the person that don't like to deal with different banks for your banking need then you might consider to stick to the same bank although sometimes it might not be advantageous as the same bank might charge you higher interest rate if you don't try to get another banks offer to compare.

Feel free to let me know if you would like me to calculate your DSR for your next purchase

You may provide me the info below for a preliminary assessment

Age
Gross pay
Nett pay
Rental income
Asb
Bonus 2 years total

Commitment
House
Car
Personal loan
Credit card outstanding
Ptptn

What's the house purchase price and loan % you're looking at?

Any late payment in the last 12 months ?

This post has been edited by lifebalance: Jul 9 2016, 12:54 AM

Dear nutella

1. All the bank package all almost the same, but certain fine print policies are different, but not that much.

2. As you say, rates and full flexi same throughout the bank, so I should advise that you look at below few criteria before you opt for any banks:

a. Are your bank treating you good with your current loan? is the customer services being responsive, do you like your current bank

b. Do you want lock in period?

c. Do you wish for zero moving cost

d. Fixed rate for your new loan packages

e. what are the best accessible banks to your vicinity, so that you won't trouble your self to travel to the bank

d. is it a subsales property or a new project property? Which it makes different

f. If subsale, different valuers will give different value, whereby not all banks uses the same valuer.

3. It also boils down to your objective for your new housing loan

4. Before that, it's better to assess your profile, knowing your max loan amount before proceeding with signing the booking fees.

Do fill in below templates for me to do a preliminary profile assessment on you:

Is Uber income taken into consideration for DSR?

Can but certain banks will not entertain due to instability of the job. Will need you to submit 6 months payslip from uber together with bank statement.

Dear,

1. This is risky to the bank, as the income is not consistent and the job isn't secured. If you have secured 1 year or more of consistent monthly income from uber, bank will have higher chances of accepting your income and finance you housing loan.

However, this is subject to bank decisions.

2. If you have a full time job and work uber as part time job income, with 6 months of consistent income from Uber, bank will consider this income and factor into your loan calculation.

However, this is subject to bank decisions.

Cheers

I need an advice, I have a strata title property to refinance, already > 10 years without individual title yet. I have check with RHB and CIMB personnel but they told me they didnt accept for loan.

Does anybody know any banker that accept this? Can PM me? Tq.

Firstly, you need to check with developer status whether is in negative listing such as bankruptcy or credibility issue. Do follow up with developer on issue of title transfer and understand what's the process and procedure of title transfer. As title is a security for a bank for discharge, hence not many banks are willing to finance a property without any collateral/security.

Nevertheless, I can assist you on loan application, mind if you provide your financial details for assessment.

Age :
No of Housing Loan
No of borrower

Income
Gross salary
Fixed Allowances
Variable Allowances
Commission
Bonus
i) contractual 1 year
II) performance 2 year
Side income
i) Rental
ii) Shares
iii) ASB dividend
iv) UT
v) FD


Commitment
Housing Loan
Hire Purchase
Personal loan
Credit card total outstanding
PTPTN loan
Other term loan such as ASB loan
Overdraft


Current market value of property
Outstanding of housing loan
Cash out amount

This post has been edited by ngph988: Jul 10 2016, 11:49 AM

Need to check with you the developer are they still around for have they gone bankrupt already ?

Do you plan to convert it to individual title if the developer is still around ?

Not many banks I'll accept if property still under master title beyond 10 years.

What's the purpose of the refinance ?

What's your outstanding loan at the moment ?

The market value of the property

And the amount you want to cash out ?

Bosses,
If anyone come across with PBB's full flexi home loan, the only 70% of the extra payment will be deducted from the principal? How about other banks? Thanks ya

Yep pbb got that restriction, other banks may not have that kind of restriction.

How about MBB and CIMB?

No such restriction so far from these 2 banks

Dear,


1. Strata title most of the time for condominium, individual title most of the time for landed property.

I assume you trying to say currently it is on master title?

no such thing as exist 2 title for a property at the same time

2. Certain bank can proceed if more than 10 years without individual title, it really depends if your property developer status.

Whether they are apply for the strata or they had already bankrupt.

3. I need to know below details:

a. property address and name
b. developer name

to help you check on it

Cheers

There is one shop lot in which the owner wants to sell and rent back from the new owner.

If I am going to buy and use the tenancy agreement to show bank that this rental income is sufficient to cover the loan instalments, will bank consider this?

Cannot. That income is not yours yet as the property is not owned by you yet.