Right now, I have another RM40k for investment purposes..
What's the highest value property I can get for my money if this is used as deposit..?
What's the best value I can get..?
What's the best value I can get..?
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Sep 4 2007, 11:17 AM, updated 17y ago
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#1
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Elite
5,626 posts Joined: Nov 2004 From: Klang, Selangor |
Right now, I have another RM40k for investment purposes..
What's the highest value property I can get for my money if this is used as deposit..? |
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Sep 4 2007, 11:37 AM
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#2
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VIP
9,137 posts Joined: Jun 2007 From: Wouldn't be around much, pls PM other mods. |
IMHO, I never felt that property is a good investment tool.
Btw, I quote Dreamer QUOTE 2) Make money when you buy not when you sell A lot of time, property you need to sell only you make money. Yes if the rental income is good; than by all means...go for it.When you can buy investment that guaranteed to make you at least 8% per year without selling, why buy any investment that only make money when you sell?? Dreamer Anyway, back to the topic. It's not the RM40k you are to worry about. It's how much you can afford to pay monthly and what are your expected returns. Here is a good debate/discussion: http://forum.lowyat.net/topic/489695 |
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Sep 4 2007, 06:05 PM
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#3
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VIP
13,469 posts Joined: Dec 2006 From: KL, Malaysia |
@Jordy,
b00n's poing is valid. You need to work out your monthly repayment to the bank too. Assuming RM40k is 10% of the total value of the house, you're still looking at a monthly repayment of about ~RM2.8k [i need to double check this but i made this calculation based on interest of 7%]. For a bank to loan you the $ you need to earn roughly RM2.8k x 3 = RM8.4k. Er....damn.. my figures look like they're quite off !! *gulps* but generally that's how the calculation is like. |
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Sep 4 2007, 06:25 PM
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#4
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Senior Member
3,318 posts Joined: Dec 2004 From: 1Malaysia |
QUOTE(Jordy @ Sep 4 2007, 11:17 AM) Right now, I have another RM40k for investment purposes.. mate, it doesnt matter how much your savings have, the most accurate way to detemine your max financing eligibility would be your monthly salary.What's the highest value property I can get for my money if this is used as deposit..? E.g : If u make 3k a month, your max financing eligibility (90% financing for 30 years at 6% p/a) would be 250k, which translates to 1.5k monthly installment per month. If you earn more anything more than 4k p/m, then your max property value you can get with 40k deposit would be a 300k property. ( Using 30k as deposit and u need aprox 9k for legal fee's) |
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Sep 4 2007, 10:00 PM
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#5
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Elite
5,626 posts Joined: Nov 2004 From: Klang, Selangor |
Thanks mateys..
Then I'm better off putting that 40k into some businesses.. |
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