But a lot of times the "sales" oftenly promise the sky and moon. That is the kind of sales to avoid.
Anyway, I guess we've gave enough advice. It depends on TS to consider and think through his plan.
We're just a bunch of nosy ppl throwing all kinds of ideas and thoughts for him to analyse himself....

Btw, still stand firm on that minimal information provided by TS here; it's still not the time for him to venture out. Maybe get a lower end property like suggested by suiteng.

Yup, lower end properties might be good for a bachelor. But he said he wanna share with his future wifey, so, a middle range can be ok also. The thing is, with an income of less than 2k I guess the best you can do to get a loan is to combine your future wifey's income (which is not really recommended). Then, buy a property with at least 2 more rooms to rent out.

Home loan last for 30 years, are you sure your partner is the one you wanna marry or not

P/S: I'm currently not touching my family home so now I'm doing all the flipping using the place that I'm staying. So, I move a lot

i quite rarely see 1 room or 2 rooms houses/apartments...
either studios or 3 bedrooms ...

Yeah I do trust the bankers as the best position to advice based on what is my financial state and salary

Be careful which banker you're taking advise from.
Well got 1 here is an exception.

Seems like u guys had some fun... dang i sure missed out a lot of stuff


Sleepless,

to be frank, you can do that. but since i'm attached to a bank i cant tell you how to do it. (not here at least )

You can even make 0 down payment in some scenario.

but getting a house and loan is one thing, being financial and emotional ready to commit yourself is another. And i strongly suggest you consider your current financial status before making any decision.

It alot easier to get loan these day as long as you have documents and its justifiable (is there such word? ).

whats the apartment for actually? plan to move your family there? or renting it out?




This post has been edited by merce: Feb 27 2009, 11:56 PM

Even in Indonesia will cost you more 150K le for apartment in Jakarta..lol..

depend on the developer, some of the agent direct from the developer can make 95% loan.

I dont really care how much u earn . For taking a 140k loan from bank with 6-7% interest rate, your monthly payment is most probably about 1.1k every month.

Yes , you can cover ur monthly payment through rental of ur apartment. But if the rentee is delaying ur rental payment or stop rent from you or hard/no 1 want to rent, will u still able to afford to settle ur loan monthly payment with ur limited salary?

IF U CAN..Yes u definately can go and buy it because even no body rent for certain of time ,u still can stand for it

if the house prices is Rm150k..... i think some property developer allow 5% deposit, so u still need to pay Rm7500 as deposit..

so just saving more then can pay the down payment, but really have to think of can u pay the installment when it no body want to rent it.

Or just get your future wifey to work at a bank for better interest rates, lower monthly payments

FYI:
1)Loan Amount RM140k with 7% interest rate(Let say in BLR-2 package, BLR need to as high as 9%)30 years is bout RM931.42
2)Loan Amount RM140k with 3.55% interest rate(Let say in BLR-2 package,based on current BLR now(5.55%))30 years is bout RM632.58.

If sleepless wanna buy now with loan amount 140k, with this BLR-2 package ZMC. will need to pay bout RM632.58.
Bear in mind that, Instalment amount will change depending on thi BLR.
1)If BLR = 5.55(now), instalment = RM632.58
2)If BLR = 7, Instalment adjusted to RM751.55(may vary depending on ur outstanding loan amount)
3)If BLR = 9, Instalment adjusted to RM931.42(may vary depending on ur outstanding loan amount)

extra rm300++, u need to pay monthly if BLR up to that high. Just to let you to have some preparation and scenario.
Im 26 too. Lets gambateh together in this real world!


Saw someone mentioning metroview, i did know that the selling price up to as high as 280k now.
when i bought it last time, it cost me 172k only for each unit(i got myself 3 units). instalment about rm700++, rent out now at 1.3k. Its a nice location tho, but the workmanship of this condo is poor. dont worrry of the tenant, demand is still there. but even at the price of 250k, not advisable to buy, coz you cant put much to your pocket.

This post has been edited by hacker6280: Apr 10 2009, 06:21 PM

This has interestingly swerve from the TS's question, but it actually made it more ...interesting.

5k to get 150k prop is not impossible as many sifus here have proven time and again. Nevertheless I'd strongly encourage you to read up, discuss many times and have a guiding hand if possible to go through your first property. Sifus like Pai or Phoeni can probably look at a property and almost instantly know whether it's worth investing, and if yes, if it can be done for "free" This is from experience, and sometimes you will find new ways to do things which works well for you.

When I was young (they say young man no scared wan )..I bought 4 properties in a year, and 7 in 2 years. Being naive/greedy/agressive/eager, it was a really steep learning curve, and I don't wish it upon anyone. It was not a totally bad decision though, it's just that there are better ways to have sleepless nights. (Again, being so daring when young, those nights were not that frequent also la)

Anyway, long story short, now I'm having a short list of properties that I've studied and plonk my blood and sweat cash into, and along the way get much help and help others on new ways to do things. I learned that in property investments, it just squeeze so much brainjuice out of me, and from there many ideas, silly and not so, came about. All about passion, if not how do you think Phoeni and his Mrs. can drive around on weekends hunting for bargains?

If you are serious in investments, have something like mission statements. The objectives of diff ppl can be diff, to such extend 2 competent investors can look at the same condo and disagree on whether it's a good investment or not.

Anyway, I've digresses quite a bit too. Good luck TS.

meejawa

with the 4k salary(no commitment), can i get a 230k loan repayment in 30y?

wat about the epf? how many % can withdraw from account 2 for house d/p?

This post has been edited by jam_lennon: Apr 11 2009, 01:24 PM

Loan Amount $230,000
Annual Interest Rate 3.55%
Term Length (in Years) 30
Payment $1,039.23

You afford up to RM1600 monthly instalment now. you can loan this amount as below.

Loan Amount $350,000
Annual Interest Rate 3.55%
Term Length (in Years) 30
Payment $1,581.44

For the EPF, i dunno, coz im not working in Malaysia since after graduate, dunno anything about it XD

This post has been edited by hacker6280: Apr 11 2009, 01:59 PM

the economics of scale......looks like your networth is already up by at least 240k for this right call

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Added on April 11, 2009, 5:31 pmwah boss, u must be doing fairly well to be able to afford 7 props when you were young

This post has been edited by Pai: Apr 11 2009, 05:31 PM

woot, thanks for the info, however, i dun think i could get 1.6k, as 4k is my gross income, 3.4 is my nett income

if not wrong, we're not allow to have more than 1/3 of our nett income, dont we? 1.6 x 3 = 4.8 which quite a number become my nett income

Then should hav another new calculation which based on this 3.4k.
Your instalment rate cant exceed 40% of your salary, Most bank advise us to hav instalment up to 1/3 as benchmark not a base rule.
If you have other side income statement, much better, can strenghten your financial profile.
I got my first property at instalment more than 1/3 of my salary.

This post has been edited by hacker6280: Apr 11 2009, 06:51 PM

cheap cheap wan laa