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 Loan Compression, For Property Loan

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Harry_Bobinski
post Feb 23 2019, 09:16 AM

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QUOTE(cutealex @ Feb 21 2019, 04:49 PM)
mana? smile.gif
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Bintang Fairlane
Harry_Bobinski
post Feb 23 2019, 09:17 AM

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QUOTE(MNet @ Feb 22 2019, 08:54 PM)
How big is the unit?
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All 904 sqft
Harry_Bobinski
post Feb 23 2019, 11:05 AM

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QUOTE(MNet @ Feb 23 2019, 10:49 AM)
based on the lelong price the owner still make profit as they enter price is lower
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In a way, yes. But it depends on all the auction fees, agent fees, misc considered (I think a few rounds of auctions have been held already)

This post has been edited by Harry_Bobinski: Feb 23 2019, 11:06 AM
Harry_Bobinski
post Feb 23 2019, 12:50 PM

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QUOTE(icemanfx @ Feb 23 2019, 11:17 AM)
Auction fees is pay by bank/borrower. Incidental by buyer is like subsale.
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Woot I misunderstood. I thought he meant on the borrower side lmao but yes it is borne by the borrower whether profit or loss
Harry_Bobinski
post Feb 23 2019, 12:50 PM

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QUOTE(mangoproperty @ Feb 23 2019, 12:20 PM)
Who is Gary Chia?
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Supposedly a property guru
Harry_Bobinski
post Feb 23 2019, 04:32 PM

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QUOTE(Syahrim Naim @ Feb 23 2019, 04:25 PM)
If loan covered by tenant, get +cf some more, low downpayment, price already increased, why have to think about inflation/interest etc?
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If we are talking about auction, as we originally are, low down payment isn’t that low -.- you got to pay all of it upfront, 5% for LACA, or in Tupai’s post, subsale, which means 10% + stamp duty + legal fees all upfront, that’s a lot of cash and at risk of loan rejection, which you may forfeit the sum you pay.

To most who did not profit from bull market back in 2011-2014, those new developments like for example EcoMajestic’s 6 units that are being auctioned, those owners are definitely suffering a loss.
Harry_Bobinski
post Apr 24 2019, 02:58 PM

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QUOTE(AskarPerang @ Apr 23 2019, 11:53 PM)
Cristal Serin, Cyberjaya by Villamas:

Here presenting example of multiple submission project / compress loan + offer big cash out possible?
Many many lelong units incoming from here:

user posted image

user posted image

user posted image

1. Pang - 6 units
2. Azril - 4 units
3. Tan - 7 units
4. Lim - 5 units
5. Teh - 6 units (all her units already sold in lelong at around 400k. minimum 250k lost for each unit)
6. Loke - 3 units
7. Mifzal - 6 units
I salute property guru/sifu and the Sales Agents that managed to sell them all units here.
This is trully die with massive debt.  thumbup.gif
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There is another method coming into place. Michael Tan's Property Stacking as "opposed" to loan compression. No idea what it is, but I believe it also relates to buying multiple properties at a go.

The lelongs no doubt are giving better opportunity for people to buy their place for own stay compared to HOC and rebates.
Harry_Bobinski
post Apr 24 2019, 03:09 PM

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QUOTE(cutealex @ Apr 24 2019, 03:05 PM)
very sad case indeed, but this is a good study...

for this particular project/ case:-

If the buyer no buiying this property = $0
She bought this property = -1.25Mil debts

so you prefer 0 or -1.25mil

no doubt, there are some succeed cases but the % is lower, and tough especially in this tough and buyer market.
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The one buying this property was promised an appreciation of 10% or more I believe. I cannot find who advocated this project or even what was promised. But I believe the greed took over and got the better of him/her. The $0 thought that it would be +$100,000 minimum after selling each unit
Harry_Bobinski
post May 2 2019, 12:32 PM

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QUOTE(David_77 @ May 1 2019, 10:18 PM)
Money.. profit... commission... kpi 😏
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You're indicating that the banks that have approved these are mainly panel banks?

 

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