PR
This post has been edited by 123help: Oct 31 2021, 12:57 AM
How much of a property I can afford?
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 Oct 5 2020, 03:10 AM, updated 5y ago
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#1
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Newbie
33 posts Joined: May 2017 
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Oct 5 2020, 03:27 AM
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#2
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Junior Member
210 posts Joined: Sep 2011
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QUOTE(123help @ Oct 5 2020, 03:10 AM) I’m 24 currently and I have 1million in cash from my business (still up and running) and I’m currently thinking to buy a house in the near future (maybe 3-5 years time?) Why would u want house since u so young, no gf i might say.. not gonna married soon.. get a car.. buy 3 cheap apartment like rumahwip 300k each for future investment.. or any housing near some university or similar to that... Rent.. since u gonna be rich on what ever u doing... Might hire good income tax people, n maximize ur profit..good company secretary manage the profit... Always call a lawyer.. level up ur game.. oh yaa.. get a land pun better dude..cheers mate..Currently my dad settling my loan for the car he bought for me (under my name)(worth 150k) and a house (joint name)(worth 1.6M) which happens to have my name also. Both of the car and house going to be paid finish within 1 year. My business currently making about 80k-150k net profit every month, while I paid myself 10k gross per month into my personal acc from my business and I managed to built up a cash saving of 1million. I don’t have any loans beside the ones that my parents bought for me and I have ZERO PTPTN and cc debt loan. How much of a house can I afford to purchase right now? Would the 2 car and house loan affecting me?  This post has been edited by jin^manusia: Oct 5 2020, 03:30 AM |
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Oct 5 2020, 03:38 AM
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#3
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Senior Member
6,427 posts Joined: Jan 2003 From: Autobiography!!!
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Too much cash but don’t what to invest 😂
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Oct 5 2020, 04:45 AM
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#4
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Newbie
33 posts Joined: May 2017
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QUOTE(xander83 @ Oct 5 2020, 03:38 AM) Too much cash but don’t what to invest 😂 Most of my net worth relies on stocks/crypto. Again, I’m trying to ask how much of a house can I afford given with my net worth and my business earning capabilities?I’m not here to talk about how “good” is my net worth or what investment should I be doing. I already knew all that |
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Oct 5 2020, 06:21 AM
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#5
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All Stars
14,511 posts Joined: Sep 2017
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QUOTE(123help @ Oct 5 2020, 04:45 AM) Most of my net worth relies on stocks/crypto. Again, I’m trying to ask how much of a house can I afford given with my net worth and my business earning capabilities? Buy your house like buying stocks/crypto ... buy sell buy sell buy .....I’m not here to talk about how “good” is my net worth or what investment should I be doing. I already knew all that |
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Oct 5 2020, 07:26 AM
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#6
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Senior Member
1,296 posts Joined: Nov 2019
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Looks fake to me with that username.
If u are that rich no way that u dont know ur finances. |
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Oct 5 2020, 09:10 AM
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#7
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Junior Member
708 posts Joined: Apr 2008
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since u have cash, go find a financial adviser or finance planner to talk about it...simple right?
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Oct 5 2020, 09:40 AM
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#8
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Junior Member
296 posts Joined: Aug 2012 From: Subang Jaya  
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With that amount of cash, you're better off asking banks/financial advisors/professionals, then people here.
Don't get me wrong, we may give great advices, but I believe with that amount of money, you can afford to pay for subject matter experts. |
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Oct 5 2020, 10:58 AM
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#9
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Senior Member
2,610 posts Joined: Aug 2011
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QUOTE(123help @ Oct 5 2020, 03:10 AM) I’m 24 currently and I have 1million in cash from my business (still up and running) and I’m currently thinking to buy a house in the near future (maybe 3-5 years time?) For that level of money, it's better to seek professionals in financial planning. Forums like these are great to get "unfiltered" tips but it's never a replacement for sound advise from industry professionals.Currently my dad settling my loan for the car he bought for me (under my name)(worth 150k) and a house (joint name)(worth 1.6M) which happens to have my name also. Both of the car and house going to be paid finish within 1 year. My business currently making about 80k-150k net profit every month, while I paid myself 10k gross per month into my personal acc from my business and I managed to built up a cash saving of 1million. I don’t have any loans beside the ones that my parents bought for me and I have ZERO PTPTN and cc debt loan. How much of a house can I afford to purchase right now? Would the 2 car and house loan affecting me? People here could be anyone and they aren't liable if they give you bad advice. |
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Oct 5 2020, 11:12 AM
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Newbie
33 posts Joined: May 2017
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QUOTE(infernape772 @ Oct 5 2020, 09:40 AM) With that amount of cash, you're better off asking banks/financial advisors/professionals, then people here. Thanks for the advice. I posted a same thread over in the serious kopitiam and most of them deemed it’s fake and I’m stupid. Don't get me wrong, we may give great advices, but I believe with that amount of money, you can afford to pay for subject matter experts. Shows how ignorant they are ☺️ |
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Oct 5 2020, 11:12 AM
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Newbie
33 posts Joined: May 2017
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QUOTE(infernape772 @ Oct 5 2020, 09:40 AM) With that amount of cash, you're better off asking banks/financial advisors/professionals, then people here. Thanks for the advice. I posted a same thread over in the serious kopitiam and most of them deemed it’s fake and I’m stupid. Don't get me wrong, we may give great advices, but I believe with that amount of money, you can afford to pay for subject matter experts. Shows how ignorant they are ☺️ |
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Oct 5 2020, 11:46 AM
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#12
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Junior Member
191 posts Joined: Jan 2012
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Hey you're that same guy with self-esteem issues honsiong liked this post
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Oct 5 2020, 11:47 AM
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#13
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All Stars
14,511 posts Joined: Sep 2017
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QUOTE(123help @ Oct 5 2020, 11:12 AM) Thanks for the advice. I posted a same thread over in the serious kopitiam and most of them deemed it’s fake and I’m stupid. If one believe everything written in the forum is the bible, something is wrong.Shows how ignorant they are ☺️ Readers will judge depending in the content and how is wittten. This post has been edited by mini orchard: Oct 5 2020, 03:35 PM |
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Oct 5 2020, 02:21 PM
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All Stars
13,681 posts Joined: Mar 2006
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QUOTE(123help @ Oct 5 2020, 11:12 AM) Thanks for the advice. I posted a same thread over in the serious kopitiam and most of them deemed it’s fake and I’m stupid. You post in kopitiam, of course you get a "kopitiam" answerShows how ignorant they are ☺️ |
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Oct 5 2020, 02:44 PM
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Junior Member
411 posts Joined: Jan 2018
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QUOTE(123help @ Oct 5 2020, 03:10 AM) I’m 24 currently and I have 1million in cash from my business (still up and running) and I’m currently thinking to buy a house in the near future (maybe 3-5 years time?) You can run a successful business and your dad has lots of money to invest in you yet you think it is prudent to take advice from a public forum? There is a reason why ppl think you are either boosting or stupid.Currently my dad settling my loan for the car he bought for me (under my name)(worth 150k) and a house (joint name)(worth 1.6M) which happens to have my name also. Both of the car and house going to be paid finish within 1 year. My business currently making about 80k-150k net profit every month, while I paid myself 10k gross per month into my personal acc from my business and I managed to built up a cash saving of 1million. I don’t have any loans beside the ones that my parents bought for me and I have ZERO PTPTN and cc debt loan. How much of a house can I afford to purchase right now? Would the 2 car and house loan affecting me? |
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Oct 5 2020, 04:31 PM
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Senior Member
6,427 posts Joined: Jan 2003 From: Autobiography!!!
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QUOTE(123help @ Oct 5 2020, 04:45 AM) Most of my net worth relies on stocks/crypto. Again, I’m trying to ask how much of a house can I afford given with my net worth and my business earning capabilities? Seriously you need a reality check. Go find alegal and proper financial lawyer, accountant, tax consultant and private banker as there abundance in the market who are willing to advise for a fee I’m not here to talk about how “good” is my net worth or what investment should I be doing. I already knew all that Otherwise read more and ask more intelligent question instead of stupid questions No wonder you get troll your intelligence belies your sense when the fact if you have the money, knowledge and sense will grow better instead of asking stupidity question online  |
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Oct 6 2020, 09:36 AM
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Senior Member
1,035 posts Joined: Feb 2007
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QUOTE(123help @ Oct 5 2020, 11:12 AM) Thanks for the advice. I posted a same thread over in the serious kopitiam and most of them deemed it’s fake and I’m stupid. You actually got the same mixed response there as you got here. No offence, it seems alot of ppl think you're seeking validation kid.Shows how ignorant they are ☺️ PS If the company is really yours, there's really no need to worry about tax implications with regards to the cash pile your company is sitting. If its a Sdn Bhd just declare a dividend , its already taxed. This post has been edited by 9m2w: Oct 6 2020, 09:37 AM |
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Oct 6 2020, 08:16 PM
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#18
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Junior Member
503 posts Joined: Nov 2006
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You may have 1 million in cash but you may not be able to borrow much if you do not have good credit or did not pay income tax. How much tax did you pay for 2018?
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