Well done bro. Good to know from REAL people out there.

Achievers rather than complainers

This post has been edited by meonkutu11: Jul 15 2018, 10:26 AM

with no help from papamama....started to work for 5 years
IF needed at least 8 months ~1 year of proof of income to secure a loan
IF the complete process of getting loan to subsequent dispose of it will take another 6 months

unless worked in the place where the " Asia's No. 1 Uni" is located.....

worked a few years, saved a pool and converted back to RM.....

wow,...must have alot of paycheck amount to sustain the 20~30% to be used for self indulgences KL

This post has been edited by MUM: Jul 15 2018, 10:37 AM

Yup only starting investing in props 3 years ago. I haven't disposed any property before... I worked on and off during study time, came back right after grad

Nolah like I said, am quite frugal in non investment expenditure. Will enjoy life by retiring early, not keep working to sustain a lifestyle.

btw,...worth to consider... aforummer once mentioned something sort of about ....."try not to save too much sex for the old age......for there are things where life is meant to be spend at a younger age....for after that life age range...it won't be that much fun even when having to be at that scenario...."

good to know you did have the 7 digit nett worth at this young age...
so, I guess the important thing is not sorely the capability to invest 70~80% of income, but where that income (USD/MYR, SGD/RMY) had be coming from too

This post has been edited by MUM: Jul 15 2018, 11:01 AM

Mind to share why don't buy from developers? If so, buy from who?

I also did not complete SPM. Always want to continue study. Can i PM you and ask more about how to continue study since it is out topic here.

This post has been edited by perplexedstill: Jul 15 2018, 11:20 AM

Haha sex Don't worry friend, I'm pretty happy with life as whole, I get to travel on business so I don't feel the need to take holidays much and I can live without a good car. Rather be comfortable enough to not worry overly about finances than enjoy doodads. My income is like 95% myr and that's...not so good haha Income is useless without self control...I have a few friends who are at my income level but with their BMWs and Iphones and what not, I can see why they have 0 properties and are in negative net worth territory.

Sure, prop I would buy from subsale, and press hard on the price. Developers all sell at future pricing, future promises, have to wait years to realize any gain (or loss), and you don't get to view the finished product and all yield/gain is hypothetical till then.

This post has been edited by LoTek: Jul 15 2018, 11:43 AM

mid 20's
started to work 5 years ago in KL after graduating from over seas (only do partime there)
no $$ helps from FAMA
70~80% of income used for investment

invested in properties, from just 3 years ago

have not let go of any properties yet. (so no flipping here)

having a 7 digit net worth....yes net worth

I think it is ok to get loans for the 1st one and 2 properties, assuming the pay is used to sustain the repayment of your first 1 & 2nd properties.
assuming again 10% down payment (100k for 1 million property)

the rental yield of these 2 properties must be definitely very good and stable to be able to get sustained income to get another property ...

thus whatever earned from the 2 properties will be use to get the 3rd property (30% downpayment at 300K for the 1 million property)

then, the rental yield of these 3 properties must be definitely very good and stable to be able to get sustained income to get another properties ...

it is amazing, how much money can be made (7 digits net worth) in 3 years

you hit the jack pot....repeat the cycles few times,, one can buy a village.





Ramjade....can try follow this?... since you're having some attributes similarity...young, frugal and money saving smart...

This post has been edited by yklooi: Jul 15 2018, 01:51 PM

don't know choose to trust or not to trust....
seems like living in fairy-tale.....
<5 yrs....
no supp
3 props in KV...
sub sale....
80% income for invest
20% for usage in KV.....
80:20 ratio is doable... when you have 5 digit salary... or the 3 prop must be paid really well.
prop loan....
mid 20... around 25?

wow that's new

First purchase of prop in 2015....that time till now, property price can say stagnant .... means 3 properties can assume no capital gains lah...

Means net worth of RM1mil earned during this 5 years all from salary...average 1 year save RM200k or RM16,700 per month... this means your average income per month is about RM24k (since savings of 70%)....(ignoring income tax because also ignoring employer EPF contributions for ease of calculation )

Otherwise, I also cannot see how net worth of 1 mil...

Conclusion: average ktards income per month is above RM20k

Bnm report on kv property is unaffordable to most, epf statistics on income, elevated household debt is fake news.

This post has been edited by icemanfx: Jul 15 2018, 05:06 PM

The nodded one I experienced myself.

All this talk talk talk easy job.. talk and hold no water.. come here and make people feel bad feel jealous only.

You are probably in the negative net worth territory tbh, might be wrong though. We mostly all are, those who took a loan from the bank. Unless you're overly optimistic about your properties current worth.

I see my post is dubious to many.

Since my studies was fully covered including expenses, whatever I earned part time, i slowly brought back home, its 5 figures in SGD. And no I'm not in some illegal or immoral industry. I worked all sorts of jobs there in whatever spare time I had, photography, crew, promoter, tutor...anywhere from 8-50 sgd an hour type of jobs. Since starting full time work, which started in KL and still is in KL, my income has always been in 5 figure territory. I do not only rely on FD to grow savings that is not invested in props.

1st and 2nd prop is residential, subsequent is commercial. 1st was a mistake, bought from dev, yield is just over 4% which don't even meet the interest: am trying to exit. 2nd was the effort of 8 months of patience, non stop viewing and lowballing sellers until I got a unit more than 6 figures below market value. Believe seller was in dire financial difficulties, and he actually already had an interested buyer, who just wanted to push him another few k down from his asking, I offered to buy at the asking price and got it. Student rental play prop, yield is 9% counted at the market value, more than 10% at the price I got, incl renovate and furnish. I don't think I am not overestimating the value of my props: I take an average of the latest transactions listed on brickz and from the owner group chats.

Sorry to those who feel bad or disbelieve me, I'm being honest, I don't want to boast, I just wanted to inspire some young people my age and its not about the income. Its about the discipline in work, expenses and investments. Some of my work days are as long as 14 hours when I need to. Never buy investments without weeks (or months) of study, made that mistake on my first prop. Never overspend. Some of my friends with 4k income a month probably think I earn less than them, from my lifestyle. I grew up in my grandfathers' attic, sleeping on the floor, eating rice with fruits and veges that me and my grandma stole from neighbours' gardens (sorry guys XD) or expiring old meat that my uncle, a wet market worker, was allowed to bring home. When I see people my age spending 110% of their income, with the 10% from parents or credit, and all the spending going to non investment expenditure, it just pisses me off.

This post has been edited by LoTek: Jul 15 2018, 07:25 PM

Don’t worry mate. Let them in their non-believers and denial.
You know yourselves better.
Some of them in that position maybe because they are older than you but not started early or maybe just ignorance.

Keep it up! Keep positive.

Impressive! At such young age, u r already at least top 1% or less of your peers. Once yr assets snowball, your wealth will grow exponentially. You now have capital, discipline, high income and most importantly time on your side. Your future is limitless! Kudos!

Now, this only clear all my doubt. your previous post isn't complete with the details. You can re-read back.
1st official job already 5 figures. That's a very good start. In fact a huge jump start. And with the attitude, no surprise for owning props. Nice one.
Almost having same pattern with you except the 5 figures salary la, but my life damn boring :|

Besides, another conclusion.
Picking up a job or field is very important. Some people work for 16 hours in hospital (junior doc) end up only 5-6k per month lol. Some teachers work 9 hours in school also 5-6k lol. But on the other hand, same rank doc in Australia pays higher than in Malaysia with better benefits. Malaysia oh Malaysia.

Looking forward for FIRE during my forties. Currently will be there in 20 yrs. But i could achieve it earlier if i increase my income over the years. I have maybe about 80% savings now of my income.

People could believe in many things e.g Robert kiyosaki's "rich Dad poor Dad". The question is how realistic and practical?

Oh ya, "rich Dad poor Dad" is as real as Harry Potter.

This post has been edited by icemanfx: Jul 16 2018, 09:35 PM