QUOTE(TOMEI-R @ Nov 4 2018, 03:54 PM)
Agree on that. They are banking on catering to those who cant get a loan from the banks, yet have a bit of cash at hand. They are also banking on the younger gen of buyers who believe in crowfunding and these kind of 'investments'. Most important is, there is no "guarantee" on your investments and this is the biggest catch.
https://www.fundmyhome.com/how-it-worksFrom How to Contribute tab:
"You
stand a chance to get back your principal PLUS a share of the upside if the property price goes up in year 5. If the property price falls by not more than 20%, you will still get back your principal"
Reading between the lines, getting back your principal is up to chance!
Thanks but no thanks, sounds like gambling in this market condition.
Also, homebuyers interview here can't even fork out the 20%:
https://www.edgeprop.my/content/1441326/too...irst-homebuyers"“My parents helped me with the 20% payment"
“However, my wages have remained stagnant in the past three years while the cost of living and house prices have both gone up. And even if I have saved up enough money to pay the downpayment, it is very difficult for me to repay the loan,” -- boy you're in for a world of pain 5 years from now.
"I’m very excited to finally own my dream home with the 20% payment that my family assisted me with,” he said.
This post has been edited by Aurora Boreali: Nov 4 2018, 04:16 PM