Hi Sifus, ayam waterfish and new to property investing. If one day Siu Dai wash toilet and saves enough money to buy 3rd property, since ayam no longer eligible for a 90% loan margin, are there other ways to get a higher loan margin? So far I only know 2 ways, please let me know if I'm wrong, Siu Dai appreciates your advice. Break time over, go back wash toilet first ~

1. Get a commercial property (SoVo, SoHo, etc.)
2. Get a mortgage/ financing from non-traditional banks (insurance companies, etc.)

1) Refinance with insurance co to free up 90% quota
2) Finance the residual margin with developer financing subject to higher interest rate
3) FAMA bank

use gf, scandal, awek, siambu name to buy

ok serious, u cant

so gotta save up the deposit from now for 3rd prop onwards or u clear first property loan

Thanks Sifu. For the second point is like paying the down payment by instalment right? In that case I don’t think they will let the tenure to be too long.

Not much issue with 70% actually

- if you have rebate, very likely your dp is only 10-20%, which is quite manageable
- if you are buying undercon, you will have time to save up for the second and third 10% until the stage is completed

Markup 30%

This post has been edited by ahkit123: Aug 4 2024, 04:35 PM

Do markup loan, for this to happen, the seller has to agree.

Does markup loan works for undercon properties?

Nup it’s the differential of approve loan vs balance payable into term loan by developer tenure wise diff by developer

In my experience, certain developers (so far, I have found two) offer a maximum duration of 12 months for the residual margin to purchase properties under construction.

No

settle your 1st and 2nd mortgage

Cash back property, but it was not advisable.

Can explain why cashback properties are not recommended? I remember watching one famous YouTuber recommending a viewer to buy a huge cashback property to cover his previous personal loan used for renovations.

Any pitfalls that I should be aware of? Property gurus seems to love cashback properties.

imagine u are selling a damn good products and people are buying

what for u wanna offer ur buyers cashback or any offer or promotions for that matter

plus these types of props as u said urself and by guru, is bought by people who has debts or loans wanna cover

so they are already in hot water

higher risk they wont pay maintenance fees, and become lelong also in the future

Those who take cash back never calculate how much is the total repayment they have to pay in 30 years.

I really net one of my younger cousin's friend who think the 80k cash he received from developer was the profit he earned. I said ppl use your name to borrow from bank to give you this money, and you will need to pay back in 30 years with three times more than the amt you received now.

wow 80k can pay DP for bmw adi yayyyyyy

How my friend does is that he uses the cash back to keep rolling the same cash back properties until got 10+ units in the same project, surprisingly doing very well for room rental.

How my friend does is that he uses the cash back to keep rolling the same cash back properties until got 10+ units in the same project, surprisingly doing very well for room rental.

Sure or not? Tell us the name of the project if it is true.

Project near Sunway/ PJ South, VPed few months ago, do student business

Nice

Go for Project with 30% rebate then

Are there such properties? I though developers would rather give hefty cash back than huge rebates..

30% rebates and you take 90% loan = cash back 20%

30% rebates and you take 70% loan = 0 downpayment

If you already have a friend that is doing extremely well with this method, why still ask here? You already got your questioned answered 🫠

got ya, be patience and wait for it