hehe, come refinance your property to cash out in overdraft. then you can have standby fund for future invest or to pay your property installment.
Die with massive DEBTS, A guru told me about that
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 Mar 20 2019, 05:29 PM
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728 posts Joined: Jun 2012 
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Mar 20 2019, 06:56 PM
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QUOTE(icemanfx @ Mar 20 2019, 06:20 PM) As if investment is a sure win. concept is to refinance your property,but to get the loan to approved by the bank is another story. |
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Mar 25 2019, 03:24 PM
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QUOTE(kimhoong @ Mar 25 2019, 03:00 PM) btw, how much "admin fee" (including stamping, lawyer, etc..) incurred in refinancing? Refinance fees will be Legal fees and valuation fees.If you need some figures, take this: house value 300k 2014, current market value 500k 2019, loan 90%. Refinance structure will be show as below : MV 500k, Margin of finance 90% = 450k 1. housing loan , lets said 290k 2. cash out 160k ------------------------------------ total loan 450k legal fees estimated at 11,160 valuation fees estimated at 1,200 the above fees can be finance into your housing loan account. |
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Jun 27 2019, 12:11 PM
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QUOTE(se800i @ Jun 27 2019, 09:55 AM) AW la..... Refinance just a concept of cash out. Is depend how the client utilise the fund. Some may cash out for standby use, expand their business. In conclusion must know to use ur cash out wisely.I got the same feeling as you did as I just attended his 3 hours talk recently..... that is why i am here.... this is his concept... when the buyer die... MRTA will payoff the remaining balance to bank base on current market value... MLTA better? your fren attended AW course and become like that? How is your fren now? borrow ah long? Dont be afraid to say his name out...... ADRIAN WEE he likes to say people sohai.... coz he smart enough |
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Jul 3 2019, 12:38 AM
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#5
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QUOTE(andrewcha @ Jun 28 2019, 11:09 PM) May I ask how do you refinance when you havent settle your current loan from your first props? U can refinance ur property if ur current house value has been increase.Example, current house market value at 500k, ur current outstanding is 200k, so u can refinance and cash out for 250k. |
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Jul 3 2019, 02:22 PM
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#6
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QUOTE(andrewcha @ Jul 3 2019, 07:45 AM) Thanks for the explaination. So whats the advantage of refinance since you still have to repay your loan and starting it all over again? welcome. Advantage of refinance is you can have standby cash in hand. today even you are not doing refinance, i believe you still have to pay the installment.i help client to do refinance cash out with overdraft facility. Overdraft facility is a standby cash in your currrent account. If you didn't use the fund, no interest charge. just like you using credit card, if you need keep your credit card in pocket or house, no use no interest charge. |
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Jan 20 2020, 04:20 PM
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QUOTE(Celine Leong @ Jan 20 2020, 12:53 AM) This one actually in Platinum Course Dato' Sri got teach... i not interested how to use the money, im the banker to help customer to process cash out loan. People attend DWMD only never attend Platinum so take money and don't know what to do with it... Got secret one la... But I cannot share too openly... PM me la I guess =/  |
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Mar 2 2020, 04:18 PM
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#8
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QUOTE(williamchua8 @ Mar 1 2020, 10:22 PM) I know that rentals from property can be used as document to prove income to bank but does bank only use the rental income as supporting document, meaning they won't take it 100%, maybe 20% or something and only use it as supporting document, even only take the payslip income while determining the LA of a borrower? tenancy agreement will take in as income calculation whereby with stamping tenancy agreement and latest 6 month rental bank in. normally bank take 70% from the rental. |
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Mar 3 2020, 04:25 PM
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QUOTE(williamchua8 @ Mar 2 2020, 07:29 PM) I see, means have to do at least minimum 30% reduction on rental when calculating LA. Means it is impossible for bank to take 100% of rental to calculate LA la, no matter it is LA for company or personal. yes. even salary earned also wont take in 100% for calculation. |
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Mar 4 2020, 03:32 PM
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QUOTE(williamchua8 @ Mar 3 2020, 06:50 PM) Oh now I understand more, that’s the 30% reduction for EPF SOCSO necessary expenses etc. salary calculation is base on net income ( afer munus EPF and SOSCO ) then x 80% of the net income. |
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