wuqi, don't take it to heart for the unpleasant words for others. For all we know, you are a very kind soul! Always trying to help / share wherever possible. Bad things will pass and good things will come!
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New developments to share
- Thread starter wuqi256
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Thanks Funniman, yes its hard, very hard but as the man of the house, it has to be done and its sad that we all went through something similar. You have much to be proud of as well, given the circumstance, you already did the very best you could. The best lotus may yet still stem from the lowest muddy depths of a pond.
I do not wish my early life and childhood on anyone, even my most mortal enemy. I am glad i am still here though and now i can look after my parents and my loved ones. Nothing more to ask for except happiness and long life for all of them and i can pass on happily.
Thanks kawan, hope it will. Just now, fetched my sister after she came back from KL, took a detour and saw fireworks from Legoland. Very beautiful and i stopped at road shoulder of the highway roundabout for a view. The fireworks made me feel better somehow.
There is a jeans shop outside Mydin mart and near the 24 hour prata shop, pretty nice promos that they have there and the jeans they will do some adjustments to make sure it fits you.
Bros who need to do a u turn after the toll at the 2nd link can go to the extreme left lane and tell them that you are doing a u turn. Give them your touch and go card, let them deduct their 7.50 RM and then be given a slip and your touch and go card back. Pass the slip and card to the extreme left lane on the other direction once you made your u turn so that they won't charge you again.
Ok, back to work for me. Wishing all the very best in 2013.
I also don't understand why one is buying into a trap if one buys for own stay and for lifestyle if he/she can afford it.
But I'm not saying that all your points are silly just because of a few which I don't agree. You did made many good points and you're definitely quite an intelligent person.
IR always analyses things very comprehensively, I'm really glad that I've learnt a lot from all the great inputs by all our intelligent members here in all the threads, 2 thumbs up to you people and thanks for making the effort to share. Happy New Year everyone
Some how everyone know someone whom are still stuck with a mortgage.
It can trap you for 20-30 years, even if your property appreciate 50%. Because when you sell, you will need to buy back at high price. (Unless you rent)
Hence for own stay, usually you get trap easier than investment property which you can sell without ever buying back to replace it. Unlike a home.
My friend whom trade forex still stuck with his condo and mortgage after 15 years.
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Not silly nor intelligent. Just a bit crazy when talk about property investment.
No need to be polite, just shoot ...haha.
You will see a lot of people will tell your they buy for own stay when...
1. It is at ridiculous price level. (Now in Singapore. People buying $2m EC, all claiming it is ok. Buying for own stay)
2. When market crash. (Loss money is ok, as buy for own stay) I notice this during SARS when Singapore property drop by 30% in 2 months.
My mentor told me he took me in because I am a bit crazy.... Happy new year.
Let make more money in 2013.
PS: my entry and exit point is only 2-4 years period. Just to clarify as some whom buy and hold forever got the wrong picture.
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That's why the key words here are 'if he/she can afford it', which also means to buy within own means if it's for own stay.
Losing ones job and thus being unable to pay is another issue.
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If buy for own stay , one must clear the mortgage as soon as possible. Otherwise your RM2m mortgage become RM4m when fully paid.
The only one left happy will be the blood sucking bankers whom are always ready to take back their umbrella when the perfect storm come.
In summary, try not to loan to much from the banks whether for own stay or investments.
Otherwise, when property market crashed, the bank is ready to ask u to pay the different of the existing house valuation. (the diff could be 100k or more..cash hor).
That's why many ppls were killed.. so take loan from gov safe safe..
All kor kor,.. tio bo?
Otherwise, when property market crashed, the bank is ready to ask u to pay the different of the existing house valuation. (the diff could be 100k or more..cash hor).
That's why many ppls were killed.. so take loan from gov safe safe..
All kor kor,.. tio bo?
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Sometime also very hard to restrict one self when bull is ragging.
In bull market every one feel 天下无敌。
aunties and uncles all become experts.Should be able to play fire crackers tis yr..si buai fun.
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Why entry and exit point only 2 - 4years? What if your property still gives you good rental more than cover all debt service/ expenses?
PS. I think buying an EC at S$1m is also too too too high!
PS. I think buying an EC at S$1m is also too too too high!
In SG, buying a SG500k is high for local ppl.
In MY, buying a RM500k is also high for local ppl.
somerset puteri harbour
I used to have this thinking. But I have since changed my own strategy after
realising that the tax savings from the interest on loans is very substantial, especially
if you can find fixed deposit rate promos at high 3% cos interest income is not
taxable. The overall return will be higher than having fully paid mortgage. (:p sorry that
is assuming if we all pay our taxes on rental income)
The other advantages of doing so is having extra leverage power, there is no need to go till 80-90%,
even 30-40% will still make the overall Internal Rate Return better.
And also not forgetting, the income taxes we declare will help u secure
better banking facilities in future.
realising that the tax savings from the interest on loans is very substantial, especially
if you can find fixed deposit rate promos at high 3% cos interest income is not
taxable. The overall return will be higher than having fully paid mortgage. (:p sorry that
is assuming if we all pay our taxes on rental income)
The other advantages of doing so is having extra leverage power, there is no need to go till 80-90%,
even 30-40% will still make the overall Internal Rate Return better.
And also not forgetting, the income taxes we declare will help u secure
better banking facilities in future.
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