Refinance Your House??? When Is The Best Time To Do It???

This knowledge sharing was given by Milan Doshi in his best-selling book “How You Can Become a Multi-Millionaire Real Estate Investor!”, The main objective for a property investor refinance their house is to gain their downpayment that they invest earlier. That large amount of money will be beneficial for the next property downpayment and others.

From my point of view, this method is a valuable tool esspecially for small time investor (Gaji Ciput) like me. In order to sustain in property investing I need a pile of money for:

1) Downpayment (Currently LTV only covered 70% for 3rd and onwards property I wish to purchase)

2) Legal Fees (So far Rafida Razak gave the chepest rate, if interested contact me for referal)

3) Repairing works (Only purchase a house which required minor repairing works)

4) Hidden cost that I failed to anticipate ( My bad...poor forecasting)

If you are property speculator, I dont think you will adopt this method.. The reason?? Refer to my previous post -----http://firkhld.blogspot.com/2010/11/who-are-you-property-speculator-or.html. Unlike other returns like Rental Yield, Capital Appreciation, etc., it’s not possible to come up with a number or do an “apple-to-apple” comparison against other investments.

Case Study For Reference

1) Purchase Price = RM116,000 (Sub Sale = Below Market Value)
2) Market Value = RM130,000
3) Manage To get 100% loan = RM117,000 (additional RM 1k in hand)
4) MRTA '+' Legal Fees = RM4,775
5) Total Loan applied = RM 121,775
6) Interest = BLR - 1.8% = 4.5%pa (Terapung nih..bkn fixed)
7)Tenure  = 40 years (Coz aku muda lagi...huhuhu)
8) Yearly Installment = RM6,569 or RM547 per month
9) Rental = RM850 per month which is enough to pay the monthly installment and service charges.
10) Hence the Cashflow = Ada la sikit utk anak bini makan....

Assumptions: Interest rate remains unchanged, no rental increase and price appreciation over 40 years

Take a look at how the loan of RM121,775 reduces over time from the Loan Amortization Table below:

 



 

There are 2 situations to derive both figures above:

 

1) I am as Mr. Investor:

 

In 20 years time, the Net Worth would increase from RM 8,225( Consider as downpayment... padahal dpt 100% loan..hehehe) to RM140,362,62. Meanwhile in 40 years time, the Net Worth is RM 411,713.51. This large amount is generated from twin benefits of property appreciation of 3% pa.

 

2) I am as Mr. Opportunist:

 

He is a person which not into properties and afraid taking loans from the bank. He chooses to diversify her RM8,225 into paper assets instead, the 20 years Net Worth grows to :

 

At 10% pa compound interest = RM 50,303.35

At 12% pa compound interest = RM 70,839.96

At 14% pa compound interest = RM 99,158.07


Conclusion Base on 20 Years
1) Net Worth wise, Mr Investor excellant all the way until the 20th year (Aku tak rase nk simpan rumah nih selama ini...huhuh). His Asset Value after deduct outstanding loan remaining is RM 140,362.62 . Wow!!! That is a huge amount.

2) Meanwhile Mr. Opportunist only chalk up compounded return maximum (14%) about RM 99158.07..

3) Pity to Mr. Opportunist, due to his procrastination and lack of self confident, he has missed the opportunity to become richer RM 41204.55 ( Topup sikit bole beli ZX10 mcm abg donny)

WHO ARE YOU??? Property Speculator OR Property Investor

I would categorized myself as an INVESTOR. Which one are you?? SPECULATOR or INVESTOR.. Article below will enable you to differentiate who you really are or what are you going to be.

Different between speculator and investor is SPECULATOR makes money only when he/she SELLS an INVESTOR makes money when he/she BUYS.

For example, a speculator buys a RM100K property for RM100K, and hopes to sell at RM120K. An investor buys a RM100K property for RM60K, thus making a "profit" when he buys. He might sell it at RM100K, but usually he sells it at RM90K (leaving "some" profit behind) for the speculator.

In my opinion, I think a property speculator is someone willing to gamble on the unknown in the hopes of making significant gains. A property investor is someone who decides exactly what it is worth (value-wise) and makes a 'safe' property investment in an established place.

Speculators in property have a short time horizon. Most are looking to flip properties & make a fast buck in times when property prices are moving upwards. They typically want to get out within a year or even weeks if possible.

In terms of knowledge, most speculators do not really comb through the property in detail. They have no interest in looking at rental yield, mortgage cost, location, condition, etc, factors most investors are concerned with. As long as they believe a property will move up in price quickly, they will jump into it. In short, most speculators are only looking for a rapid rise in capital appreciation. An investor on the other hand has a longer time frame & spends lots of time reading & researching his/her investments .

Micro & macro economic factors such as:

1) The rental yield & how it compares with comparable units

2) The mortgage cost, whether rental can cover mortgage cost & have some left over for time when units will be vacant.

3) Specific location of the unit, development & its comparison with similar properties. If other nearby projects are slated for development & how that would affect the property in question.

4) Tax issues, use of properties to offset taxes

5) The economy, how the economy will fare in 3, 5 or longer years & how that will affect the property concerned.

6) Only 70% Loan to Value (LTV) for third house and above

In short, an investor wants to maximize all possible returns from the property from all possible angles: from capital appreciation, mortgage payment, cash flow & taxes. Whereas, most speculators are only concerned with fast capital appreciation. Speculators try to anticipate and profit from price changes while investors seek only to acquire property at a reasonable price.

Property Speculator

1. Makes short term gain (30% or more), 3 months to 1 year.

2. Normally, buy at developer price & resell, and make significant profits

Property Investor

1. Using own system, plan well when buying.

2. Looking for rental/passive income.

3. Long term goals: 5-year plan, 10-year plan etc

4. More on buy & hold property as long as it makes significant passive income.

P/S : Most of the input taken from Properties Guru, Milan Doshi

Maximum Loan To Value (LTV) only 70% for 3rd house and above.

I hate to say this but our nightmare finally came out. To those who are interested to purchase their 3rd house or more.. Think twice, check your financial capability and know your limitation. For big pockets and high profile investor.. this is good news for them because less competition for them to gain houses in strategic places. My humble condolence to small time investor like me who need to work hard and save more for that 30% downpayment... It will took years to save RM 60K for downpayment of house valued RM 200K

Below are statement release by Bank Negara for further understanding:

Bank Negara Malaysia wishes to announce with immediate effect the implementation of a maximum loan-to-value (LTV) ratio of 70%, which will be applicable to the third house financing facility taken out by a borrower. Financing facilities for purchase of the first and second homes are not affected and borrowers will continue to be able to obtain financing for these purchases at the present prevailing LTV level applied by individual banks based on their internal credit policies. The measure aims to support a stable and sustainable property market, and promote the continued affordability of homes for the general public.

At the national level, residential property prices have increased steadily in tandem with economic development and the rise in income levels. This aggregate growth trend remains largely manageable and has not deviated from the long term trend in residential property prices. In the more recent period, however, specific locations, particularly in and around urban centres, have experienced faster growth, both in the number of transactions and in house prices. This is further supported by an increase in financing provided for multiple unit purchases by a single borrower, suggesting increasing investment activity that is of a speculative nature.

The targeted implementation of the LTV ratio is expected to moderate the excessive investment and speculative activity in the residential property market which has resulted in higher than average price increases in such locations. This has also led to increases in house prices in surrounding locations, thus contributing to the declining overall affordability of homes for genuine house buyers. This measure therefore remains supportive of the objective of encouraging home ownership among Malaysians which continues to be an important national agenda.

 

Introduction of the Financial Capability Programme

 

As part of the continuous efforts to raise the level of financial literacy and to promote sound financial and debt management by Malaysians, Bank Negara Malaysia also wishes to announce the introduction of the Financial Capability Programme. This Programme will be offered by Agensi Kaunseling dan Pengurusan Kredit (AKPK) through its establishments nationwide and will commence from January 2011. The Programme is aimed at equipping individuals with important knowledge for responsible financial decisions by gaining practical understanding and skills in money and debt management. This in turn will contribute towards preserving the sound financial positions of households and ensure that debt accumulation is commensurate with household affordability, including their ability to absorb interest rate adjustments and potential volatility to income and expense levels. Individuals particularly new prospective borrowers and young adults are strongly encouraged to participate in this specially designed programme. The details of the implementation of the Financial Capability Programme will be announced later in December this year.

 

Bank Negara Malaysia

3 November 2010 , http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=2159

© Bank Negara Malaysia, 2010. All rights reserved.

Kadar pembiayaan rumah kekal 90% hanya untuk RUMAH PERTAMA dan RUMAH KEDUA

Utusan Malaysia
22/09/10

KUALA LUMPUR 21 Sept. - Bagi memastikan golongan muda dan berpendapatan rendah mampu memiliki rumah sendiri, kerajaan membuat keputusan untuk mengekalkan pembiayaan rumah kepada 90 peratus.Perdana Menteri, Datuk Seri Najib Tun Razak berkata, kadar pembiayaan rumah itu kekal untuk pembelian bagi rumah pertama dan kedua sahaja.

Beliau berkata, kerajaan juga tidak berhasrat mengurangkan kadar pinjaman perumahan daripada 90 peratus kepada 80 peratus pada masa ini."Bagi pembeli yang sudah memiliki beberapa buah rumah dan berhasrat untuk membeli rumah lagi, kemungkinan jumlah pinjaman akan dikurangkan kepada 80 peratus sebagaimana dicadangkan," katanya kepada pemberita selepas mendengar taklimat Lembaga Pengarah Bank Negara Malaysia (BNM) di sini, hari ini.

Beliau berkata demikian bagi mengulas cadangan BNM yang mahu mengkaji semula cadangan supaya bank-bank tempatan mengurangkan pinjaman perumahan daripada 90 peratus kepada 80 peratus.Namun, cadangan itu mendapat bantahan daripada beberapa pertubuhan bukan kerajaan (NGO) yang melihat ia akan menjejaskan peluang golongan muda untuk memiliki rumah.

Malah, ada gesaan supaya BNM menangguhkan cadangan menurunkan nisbah pinjaman berbanding nilai (LVR) pajakan sesuatu hartanah kepada 80 peratus. Dalam pada itu, Perdana Menteri berkata, kerajaan mengambil sikap terbuka berkenaan cadangan untuk membenarkan ringgit diniagakan di luar pesisir, 12 tahun selepas ia dihentikan. Ringgit kini diniagakan pada paras tinggi dalam tempoh 13 tahun pada RM3.10 berbanding dolar Amerika Syarikat.

"Ringgit kita mengukuh seiring dengan asas-asas ekonomi yang menggalakkan dan ini tidak menyebabkan sebarang kesan teruk pada perdagangan dan pelaburan ke Malaysia," kata Najib. Beliau berkata, kerajaan akan mengambil beberapa langkah serta mengkaji secara mendalam sebelum rancangan ringgit diniagakan. Katanya, kerajaan sentiasa berhati-hati dengan langkah tersebut agar kesan krisis kewangan 1997 tidak berulang di samping menjejaskan nilai ringgit yang dilihat begitu kukuh ketika ini.

P/S : Mcm mana nak beli rumah ketiga, keempat dan seterusnya??? Penat nak kumpul downpayment 20% tuh......

Investment Opportunity in Cyberjaya

Is it worth it to buy? You do the Math....

 

Wish to own properties in Cyberjaya....

50% picked property if have RM1 million

Almost 50% of the 1,211 respondents picked properties as the number one item that they would buy if they had RM1 million. For this group, they are in good company. Datuk Tony Fernandes, the group CEO of Air Asia Bhd, was once asked the same question 5 years ago by a leading Malaysian business magazine. His answer? Apart from Air Asia shares, he would definitely invest in property and unit trusts.
“With property, I feel you can never go wrong as long as you buy in the right area,” he was quoted to have said.

The rest of the results were unsurprising. With lingering reservations on the economy, not many would want to venture into a new business, nor even invest in shares, bonds, REITs, life insurance or unit trusts. Fixed deposits were the least favoured by the respondents.

Interestingly, 9% or 106 respondents expressed a desire to emigrate. Again, it’s hardly surprising given that the brain drain is still ongoing since the last few years when our economy dipped. Although, it’s on a recovery trend, some may have had enough already.

Almost 200 respondents or 17% were leery of the RM1 million figure given. And why not? With many property prices straddling the RM1 million figure, the vast majority have been priced out of choice properties in prime locations. The message is clear: Property prices are running ahead of average incomes. This group awaits Malaysia’s Transformation into a High Income Economy with bated breath.

If you have RM1 million cold cash to invest, how would you spend it?

Article from : http://www.iproperty.com.my/news/2400/50-picked-property-if-have-RM1-million-

Penjamin Juga Boleh Diisytihar Bankrap

mStar Online
Oleh IWAN SHU-ASWAD SHUAIB

RAKYAT Malaysia yang menjadi penjamin juga boleh diisytiharkan bankrap sekiranya terdapat perintah mahkamah terhadap peminjam utama yang gagal melunaskan hutang.Ketua Pengarah Jabatan Insolvensi Malaysia, Datuk Abdul Karim Abdul Jalil berkata, ia mungkin sukar dipercayai namun itulah hakikatnya menyebabkan banyak pihak terus mempersalahkan jabatan itu.

Menurut beliau, timbul suara tidak puas hati mengatakan Jabatan Insolvensi Malaysia bertindak zalim kerana turut memusnahkan kehidupan mereka yang tidak berhutang.“Perlu diperjelaskan bahawa kami tidak membankrapkan mereka dan sebagai penjamin, mereka sepatutnya bertanggungjawab ke atas jaminan itu.

“Jika peminjam utama gagal membayar hutang maka penjamin perlu mengambil alih tanggungjawab itu,” katanya kepada Mingguan mStar.Dari tahun 2005 sehingga Jun tahun ini, seramai 81,908 individu diisytiharkan bankrap membabitkan jumlah hutang RM71.36 bilion.

Daripada jumlah tersebut, 4.66 peratus merupakan penjamin sosial manakala penjamin korporat 5.32 peratus.

Abdul Karim berkata, isu penjamin diisytiharkan bankrap menimbulkan pelbagai reaksi dan kekecohan kerana menyifatkan tindakan itu tidak adil.Bagaimanapun katanya, kedudukan penjamin dipinda menerusi Akta Kebankrapan 1967 pada tahun 2003 telah mewujudkan perbezaan antara peminjam utama dan penjamin.

“Pindaan telah menjelaskan bahawa pemiutang tidak boleh mengenakan tindakan undang-undang terhadap penjamin secara terus kecuali boleh dibuktikan di mahkamah membabitkan hutang peminjam utama,” ujarnya.Menurut beliau, Jabatan Insolvensi Malaysia turut mempunyai budi bicara bagi membantu penjamin keluar daripada status kebankrapan dengan persetujuan pemiutang.

Tambahnya lagi, rundingan bukan saja membabitkan permohonan pelepasan kebankrapan malah jumlah bayaran hutang yang perlu dijelaskan atau dividen.Justeru, beliau menasihatkan orang ramai supaya tidak mudah menjadi penjamin dan mengambil langkah berhati-hati.

“Paling penting, kita perlu tahu kemampuan untuk menjadi penjamin, mengenali siapa yang mahu berhutang dan keupayaannya untuk membuat bayaran. “Jangan menjamin seseorang itu atas dasar kasihan kerana kesannya kelak tidak akan mengasihani kita. Buat keputusan dengan bijak,” kata Abdul Karim.

Learn How to become a Multi-Millionaire in Property Investment

This is guest post by Mr.Milan Doshi, Financial Trainer and Best Selling Author of “How You Can Become a Multi-Millionaire Real Estate Investor!”.

Do You Know more than 90 percent of World’s Millionaire either Made or Parked their Money in Properties? It is a fact that Properties Investment provide an Excellent Financial Leverage!

1) Why choose Property Investing as a main Investment Vehicle when there many Exotic Investment Option out there like Stock, FOREX, Option, Gold, Land Banking etc?

Unfortunately there is no “perfect” investment that gives you the best of everything. Each investment vehicle have their plus and minus points. Hence, there are No Right or Wrong investments. You need to know what is available out there and find the right investment vehicle that suits your unique investment profile. I choose Properties to be my main investment vehicle as real estate is able to provide Great Financial Leverage. You only need to come out with a small down payment in order to own 100% of an asset because the banks are willing to lend money for the property purchases. Your chances of becoming rich via Properties is Slow, Steady and Surer compared to other Volatile Investment like Stocks, FOREX, Options, etc. One year from now, you can estimate up to 95% accuracy your Net Worth (ie Assets less Liabilities) in Property Investments. In other investments, you will be unable to do so. Your investments may be up by or down by 50% or more.

“If you think education is expensive, try ignorance” -Derek Bok
 
 
2) How to get start in Property Investment?

First, get the Knowledge by Reading Property Investment Books and Invest in Property Investment Seminars. Just by doing these two things alone, you will be far Great ahead compares to people who do it via the more costly Trial and Error method. However knowledge alone will be any Good if you do not take ACTION! It’s good to start off with Low or Medium Cost Apartment to get the experience before going for higher end properties. The first few property purchases are usually the most challenging as there is a lot of learning taking place. The good news is that things become easier and easier in property investments. Subsequent purchases become very easy and you can literally buy with your eyes closed once you have purchased more than 10 properties.

3) What Are the Investment Formula or Strategies To be Use?

There are more than Ten Investment Strategies like Buying from Developer, Buying for Rental Returns or Capital Appreciation, Property Flipping, Commercial Property Investing, Auctions, etc. Based on your Unique Investment Profile, pick maximum three Investment Strategies and specialize in those three areas.

The Key here is Focus.


4) What is Zero Down Property Investment?

It simply mean Buy with little or zero money. In another word, take out little Capital and Borrow to the maximum

5) Do Zero Down Property Investment Exist?

YES


6) How the Zero Down Property Investment is Possible and do you have any Real life Case Study?


Read my book called “How You Can Become a Multi-Millionaire Real Estate Investor!” I have entire chapter dedicated to this topic.


7) What skill are needed to be successful in Zero Down Property Investment?

•Negotiation skill

•Ability to look up for not just Good but Great deals

•Very close and in touch with the current Property Market

•The most important is Patience. Only One out of ten properties could qualify for this Zero Down Property Investment method.


8.) Is the Negotiation skill an Inborn skill?

Almost everything can be learn and nothing is inborn. In short, all Skills are learnable!


9) What is your advice to those who are Weak in the Negotiation skill ?

Read books on Sales, Neuro-linguistic programming (NLP) and Negotiation. Other Highly recommended books to read are “How to Win Friends and Influence People” by Dale Carnegie and “Personality Plus” by Florence Littauer

10) Do you encourage to buy Uncompleted properties(buying from developer)?

As an investor, your Goal is to have Minimum Risk with Maximum Return. As long as the developer is reputable, the location is good and the property fairly priced, why not? I have even encountered some occasions where the developer made a mistake in pricing in my opinion.

11) Is having a Supportive Spouse Important in Property Investment?

There is a saying that two heads are better than one. Having a Supportive Spouse or Partner is a huge plus Point as Property Investment involves Risk and Financial Capital. Besides your spouse or partner, always mix with the other like-minded investors as your Property Investment journey can be very Slow and Boring. With investment buddies, you can Challenge or Push one with another to make your Property Investment journey more fun.

12) What are sacrifices are needed in Property Investment?

Top of the list will be Delayed Gratification because you need to Save in order to get the Investment Capital for property investments. Savings can only come by spending less or earning more.


13) What is your advice on Getting Bank Loan?

Bank Loans are given based on Your Earning Ability and Good Track record. All your credit application and late payments for credit cards, car and housing loans are recorded in the Central Credit Reference Information System (CCRIS). If possible, get into professions where your Earning Potential is Unlimited like Sales/Marketing, Trading and doing your own Business. This will make it easier to borrow more money from the banks.


14) What is your advice to those who want to achieve Financial Freedom?

•Keep Investing and Improving yourself.

•Take ACTION!

•Do not be afraid to Make Mistakes

•Network with Right Minded Peoples

•Earn and Save as much as Possible

•Invest Wisely as much as you can.
 
 
P/S : This article is originated from http://www.alantanblog.com/property/learn-how-to-become-a-multi-millionaire-in-property-investment-milan-doshi.html

Banking loan growth remains strong: MIMB

News

Loan growth in the Malaysian banking sector remains strong, despite an increase in the base lending rate (BLR) and average lending rate (ALR) recently, according to a research house. MIMB Investment Bank said the gross banking system’s outstanding loans were higher in April this year with loans applied and loans approved, increasing compared to previously across both business and household sectors.

 

"For household loans, the demand to purchase residential property rose 10.7 per cent year on year (YoY) and that for personal use increased 19.5 per cent," it said in a research note today.Bank Negara Malaysia (BNM) raised the overnight policy rate (OPR) for the second time last month by another 25 basis points to 2.5 per cent, in another move to normalise the monetary condition. The research house said the total loan in the banking system grew 10.0 per cent YoY in April this year vis-a-vis the 9.8 per cent in March.

It said the growth was in-line with its 2010 total loan growth forecast of 9.9 per cent on the back of the higher end, real gross domestic product (GDP) growth estimate of 5.9 per cent. However, MIMB did not rule out that such strong loan growth, despite the interest rate hike, could be due to an attractive loan pricing offered by banks given the underlying keen competition. "This can be seen in the narrower estimated interest spread of banks that has not improved in tandem with a higher ALR. The estimated interest spread of banks declined 17 basis points (bps) to 2.65 per cent from 2.82 per cent in Febrary 2010," it said.

On the OPR, the research house said: "It is not a surprise to see the OPR increase further as it is still at the lower-end of the historical range since end-2004." It said the average OPR was approximately at 3.0 per cent, 50 bps higher from the current level but the central bank might pause the hike due to the sovereign debt problems in Europe. MIMB said BNM is likely to maintain the OPR at the current level in the forthcoming Monetary Policy Committee (MPC) meeting in July.

Bernama

Kelebihan Malam Nisfu Sya'aban

Malam Nisfu Sya'aban 1431H akan tiba pada hari Isnin (26hb.Julai 2010) malam Selasa ( sebaik saja masuk maghrib), dimana bermulanya 15 Sya'aban 1431H. Oleh itu, marilah kita sama-sama mengambil masa keemasan ini untuk menutup catatan amal ibadah kita kpd Allah dengan baik dan seterusnya berazam untuk

memperbaiki diri kita untuk catatan yang baru. Riwayat yang muktabar menyatakan Hari Nisfu Sya'aban adalah hari dimana buku catatan amalan kita selama setahun diangkat ke langit dan diganti dengan buku

catatan yang baru. Berikut adalah antara amal ibadah yang digalakkan di hari Nisfu Sya'aban:

1. Selepas solat maghrib (15 Sya'aban 1431H, Isnin malam Selasa)

Solat sunat nisfu sya'aban, 2 rakaat
Rakaat 1 : baca Al-Fatihah & surah Al-Qadar 1x
Rakaat 2 : baca Al-Fatihah & surah Al-Ikhlas 3x


2. Membaca Yasin 3x selepas solat Maghrib(15 Sya'aban 1431H, Isnin malam Selasa)
i) Selepas Yasin pertama : mohon dipanjangkan umur untuk beribadat kepada Allah
ii) Selepas Yasin kedua : mohon rezeki yang halal untuk beribadat kepada Allah
iii) Selepas Yasin ketiga : mohon ditetapkan iman dan Islam & mati di dalam iman & pohonlah segala yang baik dan munafaat.

Kemudian baca Istighfar 11x & selawat 11x. Baca doa Nisfu Sya'aban (ada didalam Yasin Majmuk)

3. Baca surah al-Ikhlas 1000x

4. Berpuasa pada siangnya)

Abul Khair Al Talaqaani r.a. mengira nama2 malam Nisfu Syaaban sebanyak 22.

Antaranya yg termasyhur adalah:

1. Malam Dimustajabkan Doa
2. Malam Pembahagian Takdir
3. Malam Rahmat
4. Malam Berkat
5. Malam Pengampunan (Taubat)
6. Malam Penebusan
7. Malam Syafaat
8. Malam Penulisan
9. Malam Keagungan dan Kemuliaan
10. Malam Rezeki
11. Malam Hari Raya Para Malaikat
12. Malam Penghidupan

Antara kelebihan bulan Sya'aban:

1. Sesiapa berpuasa sehari dalam bulan Sya'aban maka Allah haramkan tubuhnya dari api neraka dan dia akan menjadi teman kpd nabi Allah Yusof d ida lam syurga.

2. Riwayat dari Osman Bin Abi Al-As, Sabda Nabi Muhammad (saw) : pada malam nisfu sya'aban setelah berlalu 1/3 malamnya, Allah turun ke langit dunia lalu berfirman : adakah orang-orang yang meminta maka Aku perkenankan permintannya, adakah orang yang meminta ampun maka aku ampunkannya, adakah orang yang bertaubat maka aku terima taubatnya dan diampunkan semua orang mukmin lelaki & perempuan , melainkan orang yang berz ina atau orang yang berdendam marah hatinya kepada saudaranya. Sebaik-baiknya minta ampun dengan ibubapa sebelum hari nisfu sya'aban kerana amalan kita akan terhalang dari diangkat ke langit sekiranya kita derhaka/berdosa dengan ibubapa kita.

Wallahua'alam

My Latest Project....Mentari Court Apartment

This is my latest project. Alhamdullilah LO already signed and proceed with SNP...
Why I decided to purchased this house???

1) Location ===> Very..very..very..strategic
2) Purchased price ===> Below market value
3) Ready with tenant ===> Unitar student.
4) Demand ===> Very..very..very..high
5) House condition ===> Grilled with fully tiles.
6) Loan ===> 100% loan with good rates BLR-1.8%
7) Deposit ===> Only RM2k no need to pay 10%

Wooow...This is a good deal that difficult for me to resist.. Below are few pics that i manage to snap during site visit...

Unit at Block B located nearest to Kurnia's building. My tenant's class located there.

KTM komuter station is nearby

Playground for kids

Badminton Court

Swimming pool for all

Covered Parking "Pay for Service"

Rows of bikes...

Later I will share estimation of ROI for this investment.

100% Housing Loan???? Believe It or Not....

I plan to buy a property of rm200K++ but i dont have a lot of cash to pay the deposit. Is it possible to get 100% loan?

hm.. i think today i want to share the answer for this question. The answer depends whether it is a subsale unit or a new project.

If it is Subsale:

For subsale unit, anyhow, you need to pay the 10% deposit that is rm20K. if you dont have enough, try borrow from your father, mother, siblings, friend who trust you or even your boss. Promise them to pay them within 6 months - 9 months after your loan disbursed.

Then, you need to find a property offered below market value. let say you find a property to be sold at 180K but market value 200K. Then if the seller agree, mark up the price in the snp to be higher as long as not higher than market value.

So let say we put 200K in snp and you pay rm20K for the deposit. Then apply bank loan based on 200k price

90% loan from 200K = 180K loan

Since the real price of the property is only 180K, this means you get 100% loan for the house.

However, since you already pay 20k, the balance to be paid to the seller is only 160K

So your lawyer will refund back the extra 2oK from the loan to you, minus the legal fee and stamp duty to be paid to them maybe about 4k- 5k, depending you get discount on the stamp duty or not. But there are cases whereby buyer can kawtim with seller to pay less than 10% depends on how good your relationship with the seller or how desperate the seller to sell the property but dont have any other buyer except you.

For New Project:

It is possible since some developer offers rebates and discounts. Try get a project whereby the developer will put the price in the snp based on price before discount. Then you will get 90% loan from the undiscounted price then, after minus all the discounts and rebate, the 10% deposit will be almost covered.

At the end you will be required to only pay a small amount of deposit, depending on the package.

I have found projects which at the end you only need to pay rm2k for the deposit and that's all.

p/s : The article was taken from http://rohaniahnoor.blogspot.com

I Got Free Entry To "The Donald Trumph Way"

Just got confirmation email from AZEA personal coaching on my Free entry to Property Investment Strategies "The Donald Trumph Way" This will be my first time to attend property investment talk. Looking forward to gain knowledge and info on property investment as much as possible.

For those who have received your FREE tickets please take note that that venue has changed from level 6th to level 12th. See you there...

Do You Want To Be Someone Like Donald Trump??? Grab this Opportunity.

Grab your seat now...... Free for Iproperty members...

Latest Update On Taman Medan Cahaya

Good news that I awaited for so longgggggg…..


Received a phone call from my lawyer and she requested all receipts related to Taman Medan Cahaya Case. Bank A requested it and I believed we are the winning team. Hopefully all the losses are well covered and everyone is happy ever after.

I remembered last week when Miss J told me if this case still not as our expectation, she will bring up this matter to CEO of Bank Negara and she will asked her freinds from newspaper to write a report on discrepency done by Bank A. Wow...that is something that i'm not thinking off...

I hope I'm not going thru all that process..." Finger Cross"

DESA MENTARI LOW COST APARTMENT..Problem continues...

Problem....Masalah...Problemssss.......

Below are the chronology of headache and blunders happened until today...



1st JANUARY 2010


A letter from my lawyer to the Desa Mentari's Owner

17th FEBRUARY 2010


A letter from my lawyer to inform Bank A's lawyer that I already proceed with housing loan and request for extension.

18th MARCH 2010


A letter from my lawyer to Bank B (Loan Application) to inform they act on my behalf.

18th MARCH 2010


A letter from my lawyer to Jabatan Galian dan Tanah for "Permohonan Memasukkan Caveat"

`

25th MARCH 2010

A letter from my lawyer to Desa Mentari's lawyer on follow up of extension status.

 m

31st MARCH 2010


A Request to Lembaga Peruahan & Hartanah Selangor for a name Transfer

25th MEI 2010

First auction unit that I won on 29th October 2009 still in huge mess..... I decided to drag Bank Negara as a middle man and let my lawyer and Bank A's lawyer arguing each other...

Corporate Communications Department

Bank Negara Malaysia

P.O. Box 10922

50929 Kuala Lumpur

To Whom It May Concern

I would like to file a complaint on discrepancy caused by Bank A on auction of low cost apartment in Taman Medan. I am deeply regret and disappointed with Bank A instruction to terminate Proclamation of Sale dated 29.10.2009. All the dream, hard work, time and money are wasted. I did understand I need to settle everything within 120 days after POS date. I did talk to the owner and mentioned that I'm will take over the house. They denied my rights they will never let go the house and even threaten to report to SPRM.

After almost two months the owner didn't feedback on how to moving forward, I decided to apply for housing loan. My Bank B housing loan approved and I leave the rest to my lawyer A. Due to wrongly info stated on Bank B letter of offer, my lawyer did apply for 3 weeks extension to Bank A dated 17th February 2010. Then they apply for transfer of name and put a personal caveat on that unit. If I'm not mistaken on 20th April 2010 I did call up someone name Mr. S from Bank A on status of extension? He did reply his boss agreed to accept current owner proposal to take over the house. My question is why he didn't feedback earlier??? or at least reply the letter of extension that my lawyer send dated 17th February 2010 and 25th March 2010. Why after I called him up the bad news spill out.

After that telephone conversation with Mr. S, I'm straightly contact my lawyer to seek the truth behind all of this. I am regret that despite my attempts to settle the transaction, Bank A decided to terminate the POS. The transaction is 90% .completed but only pending release of financing amount to Bank A. Only one document is pending which is again the extension letter from Bank A. I want to ask Bank A, Are there any untold stories between BSN and the current owner which result to unfair decision to my side???

Therefore, I would like to seek for Bank Negara attention to settle this matter as soon as possible. As this matter has been delayed for far too long unnecessarily, and if this transaction has to be aborted due to Bank A or solicitor to act in a professional, ethical and efficient manner, I want to claim all my loss. Please find attached documents to support my complaint. I also will send the hard copy to respective recipient.

Thank You.

Yours truthly

(FIRDAUS BIN KHALID)

4th JUNE2010

Bank Negara revert on instruction to Bank A to investigate my case

 

2nd JUNE 2010

BSN reply to Bank Negara and to me.... Pantas tul...

14 JUNE 2010

Bank A's lawyer send a warning letter to me. (Hang ingat aku takut???... Lawan tetap lawan...)

 

To be Continued.....

TENANCY AGREEMENT ENDORSED BY LHDN

Hari Khamis lepas aku uruskan tenancy agreement rumah sewa abg aku kat Taman Medan... Tenant dah sign pada agreement tu and basicly he agreed with all the term & condition stated in the agreement. At first abg aku ingat kene endorsed agreement tu kat pesuruhjaya sumpah.. Rupa2nye kene pi matikan setem hasil...

Dia bagi setem hasil bernilai RM10 dan suh aku setelkan coz he quite busy... Aku pun pi la ke LHDN, Plaza Perangsang Shah Alam, tingkat 9... Nasib baik orang tak ramai...  Tanya abg kat kaunter, dia pon explain la document yg perlu aku isikan terlebih dahulu.

Rupa2nye LHDN ade standard fee mengikut jumlah sewaan dan tahun sewaan. Bagi tenancy agreement umah Taman Medan, nilai sewaan ialah RM650 selama setahun. Oleh itu jumlah fee utk matikan setem ialah RM22. Bagi aku fair enough la.. Tak mahal sangat...

Kepada sesiapa yang nak matikan setem hasil utk tenancy agreement, make sure dah fill in borang2 di bawah ni dahulu sblm proceed ke kaunter

1) LHDN PDS 1

 

2) LHDN PDS 49A

Make sure before fill in form ni mintak carbon sheet kat kaunter coz ade 2 keping form yang sama perlu diisi.. Ade carbon sheet tu sng la skit... tak perlu la tulis 2 kali.... Jimat masa n jimat tenaga.

Selesai saje isi sume form just hand over to person at counter dan dia akan tgk and go through tenancy agreement tu... Aku tgk dia selak2 jek... Tak baca sangat pon. Prepare cash and bayar ape yg sepatutnye..

Itu saja. Semudah ABC...hahahah

OD - ASB (Base on True Story)

1. Over Dratf (OD)

2. OD Settlekan credit loan credit card

3. OD untuk pelaburan hartanah (rumah lelong,emas public gold, sewa, jual/beli)

Pengenalan...

Saya dah buat/guna pasal OD nie dalam 1 tahun lepas. Oleh kerana sibuk dengan urusan kerja, tak amik port sangat, tapi bila ada masa free2 tu, saya baca balik thread pasal OD nie, terus ternampak jalan (Allah tunjukkan jalan).

Mungkin ramai orang kat luar sana yang expert pasal OD nie, saya baru je nak buat. Tapi, saya dah pun buat langkah pertama. Sebab pada saya, kalau setakat belajar teori saja, memang boleh, tapi kalau kita buat secara praktikal, kita lebih faham dan akan ingat.

Apa yang saya faham pasal OD?

Saya faham OD nie merupakan satu facilities yang ada ditawarkan oleh bank untuk kita buat pengeluaran lebih dari jumlah duit yang kita ada dalam account. So, lebih kurang loan la. Tapi dari segi interest charges dia berdasarkan BLR and gunakan konsep "daily rest" (caj hari-hari). Kalau kita tak guna duit dalam OD nie, tiada sebarang caj dikenakan. So, kalau kita nak pakai duit urgent, boleh le kuarkan duit OD nie, lepas tu bayar le balik. Tapi, lately nie saya jumpa banyak blog and forum yang bincang pasal OD nie, and saya dapat info banyak yang kita boleh manipulate kemudahan OD ni untuk langsaikan hutang credit card kita, buat insvestment property dan sebagainya.

Mengenai interest OD nie, lebih rendah berbanding dengan credit card (18% p.a). So, kalau kita guna OD utk membeli barang2 yang biasa kita pakai credit card (easy payment) dan sebagainya, kita boleh jimatkan duit kita daripada membayar interest kad kredit yang tinggi kepada bank.

Saya faham benda nie pun lepas masuk banyak forum dan blog2.

Tapi, macam mana nak mula?

p/s: Seribu langkah bermula dengan langkah pertama.

1- Pakai Pelaburan ASB sebagai cagaran untuk bukak akaun OD.

Dari post2 dalam forum yang saya baca, rata-rata semua gunakan pelaburan ASB sebagai cagaran untuk bukak akaun OD ni. Ada jugak yang cagarkan rumah yang dah habih bayar. Tapi, kalau yang muda2 nie, mana ada rumah dah habih bayar. Semua masih under loan lagi.

So, apa yang saya buat adalah, tukar kan ASB (dalam bentuk buku pelaburan ke sijil). So, caranya amat mudah. Bawa buku pelaburan ASB ke PNB, (HQ atau mana2 cawangan). Kalau saya hari tu saya pergi ke cawangan Shah Alam. Tak ramai orang. Sekejap je dah siap.

So, sampai je, lengkapkan borang "Penukaran Bentuk Buku ke Sijil" mcm kat bawah nie.

Ok, lepas lengkap, pegi kaunter dan diorang akan tukarkan pelaburan kita dalam bentuk sijil ASB mcm nie.

So, lepas tu, bawak sijil nie, bersama dengan photocopy IC, slip gaji sebulan ke bank yang kita nak apply account OD. Mcm saya, saya try tanya kat Maybank (sbb senang nak manage maybank2u dan dah ada current account serta commission masuk account nie) atau RHB ( yang nie proses fee murah sikit).

Ok, minggu lepas 3/11/2008, Maybank call saya, staff bank tu cakap, akaun OD saya dah approved dan ready untuk sign letter offer. So, apa lagi, bergegas le ke Maybank Ampang Park. So, dah settle semuanya, dapat le surat macam kat bawah nie.

So, kemudiannya staff maybank tu suruh saya tunggu dalam masa 2-3 minggu untuk bank readykan amount OD tu dalam current account saya. Tapi, saya check dalam account maybank saya, dalam seminggu selepas saya signed letter offer tu, saya tengok balance dalam account dah bertambah ikut amount OD yang saya apply. So, maknanya, OD dah boleh pakai......

Penggunaan OD

1. OD untuk settlekan credit card.

Ini merupakan tujuan utama saya apply OD, untuk gantikan penggunaan credit card. Sebab siapa yang tak tau interest credit card?...18% per annum. Amik kou.....so, bayangkan kalau dengan OD BLR+0% daily rest monthly compounded. So, sekarang nie BLR 6.75%, berapa banyak jimat interest tu berbanding credit card.

Sebagai contoh, credit card saya ada hutang RM 5,000. So saya keluarkan RM 5,000 dalam account OD saya untuk settlekan hutang credit card. Bila account OD saya dah berkurang, saya kena interest OD (BLR+0% daily rest), tapi oleh kerana saya nie agent insurance (komisen masuk 2 minggu sekali, bila komisen masuk je, saya terus pindahkan ke account OD, so account OD saya pernuh balik. Tak kena interest beb. Lepas tu, kalau saya nak pakai duit untuk bayar bill atau perbelanjaan lain, saya keluarkan duit tu sikit demi sedikit. Then dalam masa 2 minggu lepas tu, masuk commission lagi, saya pindahkan dalam account OD. Jadi, interest yang saya kena bayar teramatlah kurang compare dengan credit card.

Tapi kena ingat, kita dah tak bayar credit card kan?..(sepatutnya kena bayar kalau kita tak guna duit OD)...so, duit untuk bayar credit card tu, masukkan dalam dalam ASB, tambah duit dalam ASB dan kalau dah cukup amount utk convert jadi OD, saya akan convert lagi.

So, itu je dulu sedikit info OD yang saya dah amalkan untuk settlekan credit card.

2. OD untuk pelaburan hartanah

- Untuk modal beli rumah lelong

Yang nie, ada banyak perkara kena consider, bukan terus redah. Aku sendiri menuntut dengan geng2 hartanah nie.... . Baru aku faham dan start buat.

Tips : Cari umah lelong yang below market price (and cuba nasib utk bid). Make sure study dulu lokasi dan keadaan rumah serta persekitarannya, adakah ianya sesuai untuk disewakan. Dan berapa rate sewa kat area situ. Kena buat home work sikit. Then, gunakan duit OD nie, utk bid.

Secara konsepnya...kita biasa dapat harga umah lelong below market price, kalau lebih..(rugi and kena menuntut lagi)...then, bila kita nak buat loan, loan ikut market price, of course ada margin loan kat situ. Tapi, sure korang akan terfikir, siapa yang nak bayar loan tu pulak, sebab kita buat loan baru. Sebab tu, aku cakap, perlu survey dulu, bukan main belasah je amik umah lelong, sekali tak sedar, umah kat Bukit Beruntung....masak le korang.

Jadi, bila kawasan yang tenant ramai nak sewa, duit sewa tu cover duit loan. And tenant akan bayarkan loan kita. Lepas tu pulak, ingat tak tadi , kita buat loan ikut market price...so, ada lebihan cash...apa lagi...-> ASB-OD kan lagi (top-up) sampai le ASB dah penuh. Kalau penuh, sumbat pulak kat ASW, utk buat investment rumah ke-2 dan seterusnya....

Ini yang aku buat. So, so far on track la....you all boleh cari info kat internet pasal jutawan hartanah muda2 lagi. Bermula dengan account OD-ASB ni la

Pesanan drp FIRDAUS BIN KHALID : Sebagai bumiputra marilah kita manfaat kelebihan ini dgn mencarum dalam ASB. Dah byk duit dalm ASB tu bolelah kita apply OD dan buat investment utk menambahkan pendapatan. Banyak contoh2 orang melayu yg berjaya dalam memanfaatkan kelebihan OD ni seperti PIE2020, Pokli, Hizam and Dodi.. So..tepuk dada tanyalah selera....
For futher info please click to this link http://www.pokli.com/2010/01/ilmu-overdraft-ulanganpada-yang-tak.html

Sign LO utk Taman Medan Cahaya

At last LO utk Taman Medan Cahaya dah complete. Aku submit pada En Izham Cimb banker and he promise me by 22/01/2010 bole sign LA. Adik aku balik dari Sabah on that day. Senang la cite utk sign agreement tuh. Rumah ni aku JV dgn adik aku and looking forward to JV other units in the future. Early December owner rumah tu ade contact aku utk setelkan rumah dia. Dia willing bayar blk duit deposit RM3k tu. Aku kata tak semudah tu.. Byk bayaran lain yg dia kene tanggung and bayar. Ade panalty yg dikenakan. At least dia kene prepare almost RM6k utk setelkan sume. Itu aku sesen pon tak amik untung. Aku kata klu ade lebih aku pulangkan. Aku bg masa kat dia sebulan utk pikirkan before aku sign LO. Tp senyap je.... Ok fine.. Aku proceed dgn LO and hopefully dapat sign LA 22hb ni. Tinggal 2 bln lg utk setrelkan umah lelong ni. Aku menang auction pada 29/10/2009. BSN bg 120 hari utk selesaikan nama and process pertukaran nama. Entah sempat or tidak tawakal jek... Aku mmg expect beli rumah lelong ni.. mmg benda2 ni lah dugaannye... Aku rasa owner masih tak kuar rumah lagi. Aku just tunggu umah ni jadi official milik aku n adik aku baru aku pi confront owner. Hopefully sumenye ok.....