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Financial how to calculate interest, for unfinished property

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BEANCOUNTER
post Nov 8 2018, 12:32 AM

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QUOTE(Ai20 @ Aug 28 2014, 10:14 AM)
hi ...can  help me to calculed the progressive interest ?
my loan rm 480k , and bank give me BLR minus -2.4

mean for the 1st bank disburse the money to developer
then i will need to pay the interest on 4.45%?

My project will be complete on 4 yrs time. =(
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yes. assume 10% payment (48k) you will need to serve interest 4.45% p.a. aggregate to monthly per month.


when the next disbursement (usually 15%), then the amout will add on to 48k and total will be charged at 4.45% interest divided by 12 months to give you monthly interest payable.
BEANCOUNTER
post Nov 8 2018, 12:37 AM

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QUOTE(Sand Dust @ Sep 4 2018, 06:25 PM)
Read somewhere SD handover Elmina without water & electricity, meaning the 15% being released without following the guideline?
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read your spa.

as long as developer provided the hardware necessary for the utilities.

not everything developer can do. TNB and Syabas need to provide the rest.

it has been an issue lately for TNB and Syabas. the reasons given ranging from 'tnb and syabas new to strata title landed' to 'run out of meters'.

all big developers like Sime and Setia have been building homes forever. they cant be negligence on their parts to fail to apply for utilities.
BEANCOUNTER
post Nov 8 2018, 12:38 AM

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QUOTE(emilywhite @ Oct 18 2014, 02:51 PM)
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everything in life is numbers related.

think about it.

BEANCOUNTER
post Apr 2 2019, 06:52 PM

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QUOTE(warrenbuffett @ Apr 1 2019, 09:30 PM)
Question,  if my loan is 500 000, so at the 3rd years, total money disbursed will be around 80%, so is it I need to pay 400 000 *4.5%  = 18k per year.

So, it looks like the total progressive interest I have to pay for a rm500k project will be 20k ++.

Is my calculation correct?

Why people keep telling me buying new launching is better than sub sale, can save that save there but I don't see it. The progressive interest might even more than all cost involved for a subsale project.

Correct me if I am wrong.
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yes you are right above

new launch is 'better' than subsale bcos

1. banyak freebie and lower entry cost, misc fees all pau by developer.
2. you can bet on the final completed price and hopefully it can be flipped for much higher price (only during good times)
3. bragging right for ' new' paint smell.


BEANCOUNTER
post Jun 18 2019, 07:58 PM

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The last 20% only be payable when yr property is vped.
And the 1st 10% is payable when you sign spa.

Therefore at best progressive interest payment if you are on ltv90 only limited to 70% of the property price.
BEANCOUNTER
post Aug 16 2019, 11:56 AM

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QUOTE(martinezhollyc @ Aug 16 2019, 06:09 AM)
How do I calculate cost of goods sold for Schedule C?
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sch C of what Act?

 

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