Although the no. of cases maybe small but still there are many ppl 'trapped' into this loan compression 'wonderland' of having multiple prop in short term for flipping.

My parents friend also recently keep convincing them to do this. Find a buyer who is willing to sell cheap and then get banks to loan you at market price. Then will have RMxxx amount of cash to use. The property you bought can renovate to few rooms and rent it out to finance your loan or maybe can earn a bit extra from there.

Does all these even make sense? From my point of view I have to service this loans for another 30 years and I would need consistent rental income to sustain this otherwise I will be at the losing end. I will probably need about 10 years "extra" rental income to cover the initial extra cash that were given.

Yes you are right !

The extra money you anyhow also got to pay back in times with interest along the way.

This plan is workable provided you have constant full tenants and rental yield is good. In this case you might not need to top up for the loan installment monthly but the interest portion in the payment will still make u at the losing end.

yes correct, foolish little people follow bigger foolish people especially those fb so called guru and other fb people property doctorDr Victor Gan 房地产价值法 talk alot of koc there etc all those shit people leading people to go holland

What happens when they can't afford to pay.. Will the banks relook into the credit worthiness of the borrower? And then discover there were multiple loans tied to the borrower and take legal action to be the first to recover between all the banks? Would the loan be inherited by all close relative of the borrower?

Or the banks don't care.. Lelong saja.. And slap the balance to the individual?

Auction will be the route for bank to recover the sum and chargeback the shortfall from auction sold price to borrower....no inheritance to borrower relative since borrower are the one taking up loan with the bank

Auction your properties to offset the loans and debts. Black dot in your CCRIS only. Nothing much

No wonder so many willing to take the risk.... Good to know

No bankruptcy?

total net income can encompass things like existing rental income, ASB dividends, interests from fixed deposits, apart from your main income from employment or business

Most if not all are 2x5. We are on the non-guru side. To prevent the public from getting slashed left right centre

I would say it would be a good investing if you only have the amount of money to repay for the installment plans. But you should also look up at the disadvantages side of the loan compression. We wouldnt be wanted to get bankruptcy right.

Property investment is not something that you can just dump your money into and leave alone. There’s a lot of work involved, especially bearing in mind that it is a relatively illiquid investment.

Correcct.. properr knowledge is needed oneee... And alot of work and correct skill setz...

Wow, so all income gone la when tenant of commercial/residential failed to repay? Hope landlord take enough panadol and rest during this time.

Over 20 panadol will be ONE WAY STREET, DO NOT ATTEMPT.

Good luck to the owners. Overextended themselves.