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> cash out from loan A or take new loan? Investment

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TSciderblue
post Apr 22 2019, 09:50 PM, updated 5y ago

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Hi all sifu/financial/investment expert,
my senario is...

loan A (full flexi) which can cash out 350k

new property price is 340k (for investment)
new loan up to 70%
need to pay loan agreement/disburstment fee
need to pay MRTA

I dont have any other invesment (share martket, bond etc)

should i take new loan or cash out for new property?

your comment/advise/suggestion is very much appreciated.

thanks in advance!
gld998
post Apr 22 2019, 10:51 PM

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QUOTE(ciderblue @ Apr 22 2019, 09:50 PM)
Hi all sifu/financial/investment expert,
my senario is...

loan A (full flexi) which can cash out 350k

new property price is 340k (for investment)
new loan up to 70%
need to pay loan agreement/disburstment fee
need to pay MRTA

I dont have any other invesment (share martket, bond etc)

should i take new loan or cash out for new property?

your comment/advise/suggestion is very much appreciated.

thanks in advance!
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Do the math... which one cost less? Ask your banker to calculate for u.
ManutdGiggs
post Apr 23 2019, 03:34 AM

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U hav irb to handle for buying cashi via ur flexi loan moolah

They r hungry now
Darth_Maul
post Apr 23 2019, 10:22 AM

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QUOTE(ManutdGiggs @ Apr 23 2019, 03:34 AM)
U hav irb to handle for buying cashi via ur flexi loan moolah

They r hungry now
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Boss, use your own saving money to transfer from 1 account to another also will kena ah? Or is the cash purchase of RM350k property that will trigger the IRB?
ManutdGiggs
post Apr 23 2019, 10:25 AM

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QUOTE(Darth_Maul @ Apr 23 2019, 10:22 AM)
Boss, use your own saving money to transfer from 1 account to another also will kena ah? Or is the cash purchase of RM350k property that will trigger the IRB?
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The purchase without loan is considered cashi buy regardless of ur moolah is withdrawn fr flexi loan or own pocket

This post has been edited by ManutdGiggs: Apr 23 2019, 10:25 AM
gld998
post Apr 23 2019, 11:00 AM

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QUOTE(Darth_Maul @ Apr 23 2019, 10:22 AM)
Boss, use your own saving money to transfer from 1 account to another also will kena ah? Or is the cash purchase of RM350k property that will trigger the IRB?
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Aiya.. just show u buy property. brows.gif brows.gif brows.gif
Darth_Maul
post Apr 23 2019, 01:49 PM

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QUOTE(ManutdGiggs @ Apr 23 2019, 10:25 AM)
The purchase without loan is considered cashi buy regardless of ur moolah is withdrawn fr flexi loan or own pocket
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Boss so to avoid trigger IRB, we can take a minimal loan of let's say... 30%?
ManutdGiggs
post Apr 23 2019, 03:16 PM

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QUOTE(Darth_Maul @ Apr 23 2019, 01:49 PM)
Boss so to avoid trigger IRB, we can take a minimal loan of let's say... 30%?
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Take a bit higher then dump in ur cashi to save interest lo
Darth_Maul
post Apr 23 2019, 03:58 PM

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QUOTE(ManutdGiggs @ Apr 23 2019, 03:16 PM)
Take a bit higher then dump in ur cashi to save interest lo
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Okei! Tq for the advice!
gld998
post Apr 23 2019, 06:45 PM

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QUOTE(Darth_Maul @ Apr 23 2019, 01:49 PM)
Boss so to avoid trigger IRB, we can take a minimal loan of let's say... 30%?
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Why u scare unless u doing something illegal...
Darth_Maul
post Apr 24 2019, 09:19 AM

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QUOTE(gld998 @ Apr 23 2019, 06:45 PM)
Why u scare unless u doing something illegal...
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Why start a fire when u have a microwave?
BeastB
post Apr 24 2019, 09:34 AM

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What was the interest rate of the old loan?

What is the interest rate of the new loan?

Based on the two answers above, I think common sense is enough to make the right decision.
gld998
post Apr 24 2019, 11:08 AM

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QUOTE(Darth_Maul @ Apr 24 2019, 09:19 AM)
Why start a fire when u have a microwave?
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Which also means you have something to hide. I kena b4, just submit documents only what... let them findout.
Your credit rating will improve as well. brows.gif

 

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