Jul 8 2020, 11:47 AM
QUOTE(Zenph @ Jul 8 2020, 11:33 AM)
Hi guys,
I’m about to clear my tax payment in august from my business which roughly cost me about RM30k for year 2019.
I received a few advises from business people and relative is that since I already paid RM30k for tax, I’m eligible for a full loan to buy a house which they recommend me to invest in properties and start to collect rent.
I’m a stock investor so idk much about properties. All I know is that beauty of investing properties is able to leverage it with loan IF USED CORRECTLY.
From what I see, it’s recession period now, property prices dropping and I most likely can apply for a full loan. Is this move necessary?
Most of my business income will go to stocks and reinvest to the business. Should I be adding a property to my portfolio? I’m only 24 by the way.
Paying 30k tax is NOT equal to eligible for full loan.I’m about to clear my tax payment in august from my business which roughly cost me about RM30k for year 2019.
I received a few advises from business people and relative is that since I already paid RM30k for tax, I’m eligible for a full loan to buy a house which they recommend me to invest in properties and start to collect rent.
I’m a stock investor so idk much about properties. All I know is that beauty of investing properties is able to leverage it with loan IF USED CORRECTLY.
From what I see, it’s recession period now, property prices dropping and I most likely can apply for a full loan. Is this move necessary?
Most of my business income will go to stocks and reinvest to the business. Should I be adding a property to my portfolio? I’m only 24 by the way.
As a businessman, I am surprised that you dont know much about loan.
Before you invest in a property to become a landlord, I think you do more reading in the internet on the pros and cons esp in this forum property section where there are plenty of stories to form your own judgement.
This post has been edited by mini orchard: Jul 8 2020, 12:22 PM
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