Parson siudai but just wonder tis deal needs 车震 onot 🙊🙊🙊

Commission $$$ earn a lot oh

I think compress loans very hard to get pass the Banks nowadays especially in current mkt when banks have a weak appetite & are much more stringent & selective due to rising NPLs.

If very hard why poorperly guru still promote?

it is still can be bypass easily,
property guru, earn commisions from developer, classes, and loan,
thats why they become filthy rich and buyer suicide left and right..

Here's a list of compressed loan properties from someone i know,

Utropolis Glenmarie, 2 units
Centra Residence Johor, 2 units
Face Suites Jln Sultan Ismail, one unit (bought using cashback as downpayment from above)
Expressionz Jln Tun Razak, one unit (self staying, zero downpayment i guess)

Total monthly mortgages repayment 30k!!! Total loan amount >5 million!!!
Used to earn monthly salary >20k. Jobless since two years ago, have to sell off late mother's property for 350k, airbnb the units, borrowing from friends to cover the mortgages and miscellaneous, manipulating any friends available to help in anyway. Been trying to sell Face to recover the cash back amount to continue serving the repayments since last year. Negative cash flow all along since cash back used for Face downpayment and other units' renovation. Now selling dumpling online since rejected a few job offers because salary not high enough.
This is a real life story, I don't know how this person got into such mess. Living lavishly while earning good money but never save for rainy days and never bother to learn the right knowledge from the right people, thinking it's that easy to maintain a posh life. Thinking this is what they deserve while others trying to make ends meet. Don't blame on the gurus, blame on greed and ignorance!
If such a person can get out of this mess without being bankrupt, i wonder where's the justice in this world? those who earn an honest living and frugal life might as well kill themselves?

All water fish portfolio, how to survive?
He didn't buy property also kantoi in other things la, the outcome would be the same.

Do what until car shaking?
Alignment not good jor?

Sthg like million rm insolan aunty 🤭🤫

The biggest issue with loan compression to me the people who get it don't know what to do with the cash back and they go on a binge spending.

The property gurus who are teaching this should at least give a plan what they should do with the money.

I meant a guy who knew exactly what to do with his 1 million cash back. He invested in laundry, bought gold and REITS. 1/3 of the cash back money he put aside to cover the monthly loan repayments as he knows his rentals for all the cashback properties will be negative for many years to come. He even sold 2 properties as a loss and use the compression money to pay the difference in the bank loan. Though most people don't have a mind like his.

This post has been edited by Zicoras1: May 23 2020, 11:55 AM

If have good properties from the older days still ok can survive. Compress la as many as u want. All these rubbish property want to compress then die lo.

There is no free lunch in this world. unless he strike gold, almost certain will loss all his properties and even bankruptcy.

Laundry, gold, reits, etc investment is not capital protected or guaranteed success. is he better off than before?

This post has been edited by icemanfx: May 23 2020, 12:34 PM

Not sure but all of his properties are still there and he does not seem to me to be poor . What matters is if you don't know what to do with the cashback you are just going to use it all up!

This post has been edited by Zicoras1: May 24 2020, 06:30 AM

We could revisit after a few years and see.

Good for him, 6 months no need to pay can save up to 180k cash

Let's share some loan compression succeed and became millionaire.

I'm more interest in

1. Honest confession of failure
2. Honest confession of cheating by guru

😊

Too many up car story in this thread, we need some good vibes.

Actually who taste profits from old compress will continue this strategy until current days (until up car) Unless they know when to stop, which is unlikely during their gungho mode.

Anybody who owned property from 2000 to 2015 have enjoyed good capital appreciation compare to just putting the money in cash/FD. But last time not easy to buy property, need to have solid 20% for downpayment, legal fees, etc and loan interest close to 10%.

I think compress loan only appear around 2010 with DIBS and zero downpayment then everyone think like buy property sure earn.