So do you suggest TS to sell and cut the loss now ?

At least by renting you can hold longer instead of it becoming a liability

Same situation with u 8-10 years back. Stuck with condo. Cant sell...but luckily rental demand very good.

So i just rent it out. Every end of the year whatever extra saving i got i pump to clear the principle...also am quite lucky my mom frm time to time also help top up to clear the principle faster...

Past 2 years the house fully paid up. Total rental minus maintenance fee, misc billls nett income to me monthly rm1.3-1.4k...plus small dividend/interest from my liquid saving asset monthly passive income around 2k+- monthly...

Yeah house is quite risky nowadays...illiquid asset...ur capital/asset stuck there for years. Thats why i dont buy many house. 2 units only. Even my bro in law, FIL try to dispose their investment unit also no takers....

Cash is king to me. In time during emergency i can even withdraw loan from my overdraft cash pledge facility...

location pm me all the detail...price?

hahahahahaha

consider refinancing your loan first to lessen the monthly repayment burden.

then consider renting it out, while you move to another place. Suddenly, your mindset will change from selling to keeping.

This post has been edited by Liamness: Jul 1 2020, 09:24 AM

Why you no rent out?

And rent out lower than your monthly installment. You'd profit in capital appreciation (+"subsidized" installment from rental) when you dispose the property in the long future.

not just rent out. if more than 5 years, should also consider refinancing the home loan. Get a fresh 35 year loan, to lessen monthly commitment. If TS can rent out the condo for 2k, he will already fully cover the loan + maintenance fee..

Why do so many think that expensive properties are good investment????

Same story as well with landed.

Its like asking to bleed twice or more monthly topping up the commitment...

My FIL landed house beside, her neighbours try to sell the house for yearsss, no takers...market value 650k++ wolling to turun until 500k baru ada buyer...buyer also lucky is datuk cash rich...500k landed subsale frankly speaking u need to standby minimum 20% cash bro...10% dp, the other % legal fees, change of ownership stamp duty, misc emergency repair, minor reno.... not many ppl have that cash and willing to splash it around. If they hve also probably think 10 times or more want to splash to get house or not...

yup. that's the benefit of having a house..

If you rented it out, it is more like a business than a sinked cost. Especially if the rental entirely covers your house loan (interest + capital)..

there are plenty of things you can do with a home that has your equity saved up such as the highlighted bold part.

And the best thing is, so long as it is being rented out, you are making money from the property. A house then becomes a net positive to your retirement fund..

So many waterfish pay rental higher than monthly installment?

I didn't say rent out at 2k. Rent out lower than monthly installment. Say 1.5k. That's how rental used to be in old days. Landlord help the tenant get a place to stay, tenant subsidize landlord's monthly installment. But nowadays people trying to look for waterfish to rent at price higher than monthly installment. If rent is higher than monthly installment, better buy lah

my brother's condo next to paradigm mall still unsold.

location doesn't matter now. where also cannot sell

lol padan muka flipper pi mampus lebih baik

which condo specifically?

Tak baik jangan ini machiem taukeh kaya incubus_skj

Price also important. Anything above 600k would be unattractive to most people already.

?? you don't understand the property game..

TS already been paying his outstanding loan for 5 years already.. if the condo was 500k, & he took a 450k loan, in 5 years, the loan outstanding balance is now 340k.. it is reducing..

around 5 years, you should look to refinance to lessen the monthly commitment.. That means TS takes up a fresh 340k loan on the outstanding balance for another 35 years.. So your monthly repayment will also be lesser..

That is how you can reduce your monthly commitment, meanwhile, rental prices generally hover around the same spot. So TS can take advantage of this by renting the unit out at market rate.. Which should definitely be more than his monthly loan repayment...

Do you understand now?.. Unless you are buying the condo at 70% loan, no way you can fight TS monthly commitment after refinancing.. Because his loan is much more lesser than yours.

This post has been edited by Liamness: Jul 1 2020, 09:39 AM

during good time dont want to sell...

bad time only want to sell... conlanfirm the price nosedive lo....

What do you mean bad timing?

Even before covid you couldn't sell out your condo because the market was saturated already.

u want to buy ka pundi