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 Buy two properties in the same time, can sign both LO?

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icemanfx
post Jul 15 2018, 10:34 PM

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This is a trick many flippers used to buy multiple units during the bull run.

If either or both bank check ccris before first drawdown, and bank found out your financial standing has changed, they could cancel the loan.

icemanfx
post Jul 16 2018, 08:40 AM

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QUOTE(newsongfashion @ Jul 15 2018, 10:30 PM)
That's what most investor doing it. Some do it 3 or more at the same time but better with same loan amount.
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QUOTE(gooberhock @ Jul 15 2018, 11:03 PM)
That's more like gambling than investing dy. There are guidelines for a reason. If everyone had multiple props at 90% leverage we would really see the prop bubble burst.
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For reasons, foreclosure is rising.

QUOTE(fades @ Jul 16 2018, 12:03 AM)
Property A is a service residences and my unit is facing the beach. If let the unit managed by developer, can cover the monthly installment. But 30 months contract. I prefer to let agent to manage. Per night stay is rm200 profit.

Property B is a dual key studio top floor next to a lift. I plan to stay in one of the studio once completed and rent out the other studio to students nearby.

It's subjective. In my opinion both unit locations are very strategic. 😅
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How many grr work? If rental demand is strong, developer could become hotel operator.
icemanfx
post Jul 17 2018, 02:12 PM

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QUOTE(tongyk @ Jul 16 2018, 01:50 PM)
Take both loans, as long as you sign both LO at the same time and get ur loan executed on time, then u r safe.

Housing loan is usually easier. My agent usually do 3 to 4 units 1 shot, didn't seem has problem before. 2 houses is sap sap sui
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This was how subprime was formed.

QUOTE(gooberhock @ Jul 17 2018, 01:43 PM)
Ha ha... kamikaze... I've tried that before. 5 props within an 8 month period....all with cimb. With the lowest price first till the last prop being the highest. The last loan was rejected by cimb without even processing.... excuse was 'due to aggressive buying'... finally had to take the last one with Citibank.  But all 70% for residential and 80% for commercial la. So no hanky panky all straight forward.
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Mean cimb stock price likely to drop further and stay depressed for extended periods.

This post has been edited by icemanfx: Jul 17 2018, 04:39 PM

 

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