ASKING SEAN
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- čas přidán 7. 09. 2024
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In this episode, we will discuss with this audience on how to maximize financing for a deal. However, it's not as direct or easy as we think. So I listed out ways that we could source for more money.
Also, would you go ALL IN for one property deal?
There is pro and cons
All my property is markup one. But there is extra cost needed to bear. For extra SnP n Lawyer fee..near 10k extra payment then average 90% loan (4 property).. and extra insurance
but at the end Im owning 4 property by pay 10% of Selling price. 3 house and 1 shoplot.
Need to pay 131k for 1.3mil of property after markup loan.
If purchase normally I need to pay 231k.
If markup loan I need to pay 131k but 10k more charges in lawyer+setem+rgpt seller
Enjoyed this insightful and equally stressful topic. The more I listen to these podcasts, the more I feel it’s getting harder for common folks to buy property- especially the M40 folks- not only there’s economic issue (stagnate wages vs inflation) but now it requires discipline to withstand lifestyle traps in order to save up a housing fund.
Maybe that’s why fancy cafes are thriving nowadays; if it takes me years of discipline to save up for a house AND still might not be able to afford it, I might as well go enjoy my 20 bucks coffee this weekend 😅
Great question and a great answer from iherng as well. With the scheme of borrowing against a higher amount and indicating a discount in the SPA on a reduced price, the downside is the interest rate which determines the monthly installments will always reference against the higher amount. ($280k Vs $245k). At the end of a loan tenure or in the event of a sale, the bank will ask to repay the outstanding balance against the higher amount. So you will have to sell the property at more than the higher price ($280k) in order to make money.
some genuine and realistic questions to answer by Sean at the end the video
Glad you like it MrKanap!!
CAn you do a Review on Dorsett Water Front Condo Subang Jaya
For bank-auctioned houses, the loan one could get would be 90% of the auction price, as opposed to 90% of any bank valuation before the auction?
Yupe. It's the finalized price. Buyers can choose to refinance later if they want to.
great info👍
Sean minta review KL hotest project Pudu Skyline. TQ bossku.
Tapi sudah habis jual sebelum launch pun.
pm vacuum cleaner 🤣🤣🤣
This call mark up right ?
Yupe. But I just explained the technical terms lah hahahaha.
Thanks for watching;)
😍😊