Hey Sean, i got a question and its been affecting me quite badly. I bought my first property in 2016. A 2 bedroom 2 bathroom 865sqft apartment in KL (like 10mins away from TRX / IKEA Cheras) thinking this would explode in value. I bought for 600k. My monthly repayment is around rm2.5k and since then it has gone up to 2.8k because of interest rate hike. Ive been renting it ever since i got the keys but rental is only at rm2k for somewhat fully furnished. I spent around 40k to furnished the house. My maintenance is around 350 per month. So every month, im forking out about 1k to top up from the rental ive been getting. Recently ive been thinking of selling it but when i checked the property sites, the highest price was 580k and the lowest is 500k. I still have 501k for my loan. What should i do? Cut my losses and just sell to cover off my loan at bare minimum or continue to top up monthly 1k and hope that price will increase? I am afraid that come year end, my tenant's contract is ending and i have to quickly find a tenant again. This is my 4th tenant since 2016 and sometimes it takes me 3 - 5 months to find a tenant and its super difficult for me during those times without a tenant. Oh also, i just got the lawyers informing me to do the strata title which would cost me about 17k in total and i dont have that much cash with me. Any advice please? 😢
Sean, I have a question: Suppose the bank valuation (BV) is 1 million while the asking price from the seller is, say, 850k. How much bank loan can I take? Is it 90% of BV, which is 900k. And since the selling price is only 850k. I would end up with 50k extra cash? If it's a bank lelong gotten at 850k, would I still end up with 50k extra cash? Or is it that for bank lelong, the BV would always be set as the auction price I got?
Hi Sean, I been following your channel recently. It so benefits for me and I think for others too. Here I have a question of buying property. As we know low cost is for first time buyer to own it. But recently I just got known low cost property also can own by second home buyer by using “consent letter” provided thru lawyer. Issit true? Thanks for the feedback and advise. From Alan
I do not encourage people with homes using low cost property as investments. Just let those who need it have it, instead of exploiting this social tool by the government. So I don't agree to whatever consent letter...
Hi Sean, thanks for the reply. understood. Because I believe consent letter is also a tool for the low income to have their property right now as we know the 10% of downpayment and lawyer fee added up will be costly too. So consent letter work for those who face this kind of problem issit? Thx
Hey bro, really enjoy your vidoes. I just purchased my first property at Dwitara Residence PJ South, itd be great to hear your review on it 😃
Sean, consider doing a property review of Sentral Suites..Looking to hearing your opinion😃..Prolly the last residential building in KL Sentral
Hey Sean, i got a question and its been affecting me quite badly.
I bought my first property in 2016. A 2 bedroom 2 bathroom 865sqft apartment in KL (like 10mins away from TRX / IKEA Cheras) thinking this would explode in value. I bought for 600k.
My monthly repayment is around rm2.5k and since then it has gone up to 2.8k because of interest rate hike.
Ive been renting it ever since i got the keys but rental is only at rm2k for somewhat fully furnished. I spent around 40k to furnished the house.
My maintenance is around 350 per month.
So every month, im forking out about 1k to top up from the rental ive been getting.
Recently ive been thinking of selling it but when i checked the property sites, the highest price was 580k and the lowest is 500k. I still have 501k for my loan.
What should i do? Cut my losses and just sell to cover off my loan at bare minimum or continue to top up monthly 1k and hope that price will increase? I am afraid that come year end, my tenant's contract is ending and i have to quickly find a tenant again. This is my 4th tenant since 2016 and sometimes it takes me 3 - 5 months to find a tenant and its super difficult for me during those times without a tenant.
Oh also, i just got the lawyers informing me to do the strata title which would cost me about 17k in total and i dont have that much cash with me.
Any advice please? 😢
still young, rempit je. no jammed + less maintenance. best transportation in KL.
RM1300 rent for 3-bedroom apartment? Isn't this very cheap?
My point exactly!! It's more ideal to keep renting.
I fell into that vicious loop that u talked about. 😂 how to get out?
Thanks Sean!
Sean, I have a question: Suppose the bank valuation (BV) is 1 million while the asking price from the seller is, say, 850k. How much bank loan can I take? Is it 90% of BV, which is 900k. And since the selling price is only 850k. I would end up with 50k extra cash? If it's a bank lelong gotten at 850k, would I still end up with 50k extra cash? Or is it that for bank lelong, the BV would always be set as the auction price I got?
Hey Sean, How is your ionic, is the maintenance ok ? Ive been really debating whether or not to get a 2nd hand hybrid car
It's doing great!! Absolutely no problem.
Hey Sean, my wife and I always watch your video. Today she asked a funny questions, why is Sean always on the floor ? LOL
😂hahaha
Isn't that a Malaysian thing?? hahahaha!!
8:52 many couples never see this coming
Thanks for highlighting!!
Hi Sean, I been following your channel recently. It so benefits for me and I think for others too.
Here I have a question of buying property. As we know low cost is for first time buyer to own it. But recently I just got known low cost property also can own by second home buyer by using “consent letter” provided thru lawyer. Issit true? Thanks for the feedback and advise.
From Alan
I do not encourage people with homes using low cost property as investments. Just let those who need it have it, instead of exploiting this social tool by the government. So I don't agree to whatever consent letter...
Hi Sean, thanks for the reply. understood. Because I believe consent letter is also a tool for the low income to have their property right now as we know the 10% of downpayment and lawyer fee added up will be costly too. So consent letter work for those who face this kind of problem issit? Thx
Thanks! Great insights.
12k monthly income, what is the real problem lol? many family or people income much lower than this, bought houses on KL area
Well it depends on how many houses you want ;)
Thanks for watching Ballista!
great advice❤
Always 💯
Thanks for watching Mun Kit!!
😍
:)
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