same here.

ALtho not sure if banks has really tighten their lending policy since then

meejawa,

you made me think of getting another property. was cleaning out one of the houses my uncle asked me to jaga and it reminded me of how much i enjoy being a landlord . summore maybank just revised their monthly repayment installment and there are more cash in my pocket now (enough for teh tarik, mee goreng and kuih2 ). ah, good times

Pai, they did.

I was talking with UOB and found out their lending policy for apartment just went to 80%.
Luckily my banker got me 83% of the SAP price, or 100% of the seller asking price.

thats bcoz you have more than 1 prop, no?

First property nia.
No credit card, no loan.

Talk to my agent today, she said some of her client are not able to secure the loan.
Loan may be cheap but now more stringent.

my exact fear just a year ago

is that true ? In Penang, I can still get 90%. For uncompleted, I can even get 95%.

good for you. I mean think abt it, current times don't tell a bit on when and where the bottom is, so what to do?

New:
There are not many new launches, but those with reputable developers can afford to offer 0% interest during construction, and some even payment free for 12-24 months after VP. By then hopefully economy will pick up, but no one knows. This is the biggest risk. But reputable developers don't translate into good products at good locations. Eg, I'm not touching Sime's at all, but IGB, Mutiara Rini, Sunrise is ok.

Sub-sale:
This can be found in many places, but in prime location, the drop is not much except maybe in KLCC and Mont Kiara. Do you know MK10 is selling lower than developers' price now? That's why they are offering the MK11 (reputed to be the KLCC of MK) at 0% interest, and 2 years pay-nothing-scheme. Imagine the savings! This will be completed by Q4 2011. Is this a good investment? You make the call. Bangsar's prices surprisingly hold up pretty well, hard to find a killing there. KLCC aim now, accumulate bullets, and in 6 months' time, can start shooting.

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Added on April 12, 2009, 10:19 amPai,

Use some tactics. Remember loans don't show up in CCRIS/banks' database if you have not sign the loan offer letter. If maneuvered well, at the end of the day you will get much more than banks allow. (this is how I got the 7 props early on with RM4500 salary )

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Added on April 12, 2009, 10:20 amwith MRTA? I guess maybe due to freehold and limited land space, and not too much speculation in the past few years. LAunches also I think pick up only last year, unlike KLCC.

This post has been edited by meejawa: Apr 12 2009, 10:20 AM

90% is with MRTA. 95% is without MRTA.

ei? terbalik issit?

No gua.
90% loan . So bank can loan you the money to buy MRTA lor.
95% loan . Bank don't want to loan you money to MRTA coz u take too much loan liao. You need to pay MRTA in cashl\

Interesting...

First time hearing of this.

which bank is this?

Maybank? I tot its normal practice???

Very good point boss

And lemme guess, when you were earning 4.5k p/m, u bought few properties at 1 go and submit to different banks?

I am almost having the same salary bracket but onli manage to get 2 prop now.. Respect ur maneuvers..

But I can imagine the countless sleepless night that you had those days ..

This post has been edited by eugene jk: Apr 12 2009, 03:05 PM

Salut, i never think of this. lol
I still have some loan buffer, is marc a good buy now? I only can afford smallest unit...
or should wait till it drop until 700-800psf? cheapest 920psf i saw from iprop.

This post has been edited by hacker6280: Apr 12 2009, 03:29 PM

IMO, Marc will never be a good buy unless you can get smallest unit for less than 350k. Wont touch anything above that.

BTS is a better alternative IMO

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Added on April 12, 2009, 3:44 pmIMO, Marc will never be a good buy unless you can get smallest unit for less than 350k. Wont touch anything above that.

BTS is a better alternative IMO



This post has been edited by Pai: Apr 12 2009, 03:44 PM

350k??? I doubt it will reach 350k for the smallest unit.

i think 850 would be a good entry. Look for Tower A. It comes with car park.

850? hmmm, try idaman, dua, hampshire. but i do agree at that price you can get decent return as well.

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Added on April 12, 2009, 6:25 pmBingo mate, even within same bank there're ways to do it. There are some banks (will let you do a little search) where your "other commitments" are not shown in their database, ie they only compare against what you have with them. Don't bet on good rates or features though. I'm sure all these not new to you la.

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Added on April 12, 2009, 6:27 pmThat's because you props are mahal ones i guess. The ones I got was all below RM250k, mostly below RM200k. Students market. Felt good for a while, until I saw the way my props are turned inside out crazy. Since then, no more students market.

This post has been edited by meejawa: Apr 12 2009, 06:28 PM