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> What's the best value I can get..?

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TSJordy
post Sep 4 2007, 11:17 AM, updated 17y ago

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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..?
b00n
post Sep 4 2007, 11:37 AM

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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

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
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.

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
tinkerbel
post Sep 4 2007, 06:05 PM

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@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.
Pai
post Sep 4 2007, 06:25 PM

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QUOTE(Jordy @ Sep 4 2007, 11:17 AM)
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..?
*
mate, it doesnt matter how much your savings have, the most accurate way to detemine your max financing eligibility would be your monthly salary.

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)
TSJordy
post Sep 4 2007, 10:00 PM

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Thanks mateys.. smile.gif
Then I'm better off putting that 40k into some businesses..

 

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