My First Property Podcast
ฝัง
- เผยแพร่เมื่อ 5 ต.ค. 2024
- Link to join my team in property investment club: bit.ly/3DxoxWS
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In this episode, we will listen first hand to an audience sharing his relationship experience after getting a property. This is also why I do not encourage couples to share name for a property purchase.
Interesting episode=)
I am in a similar case as Nicholas, work as a programmer in Malaysia, bought first property at 23 around the same price, currently same age, similar family background, slightly higher income, and similar girlfriend issue (but foreigner). Although I live alone in a different state from my family.
What I don't understand is:
- How did the bank approve the joint-loan when it is only a BF-GF relationship?
Because when I tried, bankers will generally reject such propositions. (Is this a sales tactics?)
- Mindset of affordability
for him, there wasn't even enough capital to pay a RM1000 downpayment, and isn't elligable to afford the installment alone with his income. Even with the massive salary increment mentioned I still think that his definition of "affordability" is to be able to use half of his income for a house. I am not sure about everyone but what was the thought process to think that going for a 580k property with an uncertain career/relationship path ahead, because for my definition of affordability was to keep mortgages below 10-15% of my total income.
- Due Diligence
there was a lot of comparisons with his siblings, and friends. In my two-cents, being the first sibling to purchase a property doesn't always translate to be a good thing, in my case, I was fortunate enough to have older siblings with real-estate knowledge to talk and discuss through. So I think when you know there are people in your circle that has these knowledge, it would be better to social network with them, it would be better to find advice and thoughts before your first purchase.
Although I believe its fortunate to have parents to provide a property/finances and safety-nets (a house to live in) to their children's journey, I don't think as a son/daughter of that situation should be proud of taking that in and thinking that is a good thing. And with parents that has significant amount of knowledge of real-estates, it is questionable why there wasn't any communication with parent-child about this.
And lastly some additional advice as a fellow programmer, although trying to get your income higher is the main priority, how to get there is the main question, start planning on your career path, and do research on languages or industries that paid the most that you are comfortable with, don't just blindly look for courses but look for valuable ones
💩
5:09 Ehhh why cut out this part! We need to hear the juicy story 😂
Aiyo, later the ex reports this video hahahahhaa. Thanks for watching!!
I got my first property this year at 22 years old and I glad I bought a house after watching a lot of ur video cause finally I broke the tradition my family of rent only no need to buy property
This video is so inspiring! I am motivated to do better and plan my future ahead. Love to hear stories from others. Thanks.
You can do it Aaron!!
9:28 "screw up each other a? OK"
Bro I recognise that smirk bro 😂
Hope everything works out well for you chief!
=)
Thanks for watching!!
Hope everything works out for you buddy!
good sharing.....thanks a lot!
Thanks for watching MG.
on the tv, wheres the food wtf HAHAHHAH LMAO!
Luckily he got increment until 5k salary up til now. If not fama have to step in again
Yea. I'm just so motivated to do more such videos so less people would make mistakes.
After listening to this Podcast, I was confused is my wife really my wife.
Huh!? Er…. Hahahahahaha:)
How much was the booking fees? Would it take such a long period to repay?
It differs from developer to developer. There are no standard processes.
Sean looking for kai zai or not
Not yet. Hands kinda tied with one at the moment hahahaha=)
Amazing experience for the sheer dumb luck involved. He's lucky not to be on the road to bankruptcy (Parental resources excepted).
Don't even have RM1k even when staying at home? I doubt your spending habits are sustainable. If the relationship is the money sucker, then that's unsustainable too.
Parents= property investor , but didn't consult.
Parents has the resources, but didn't send the kid overseas for exposure - this is out of the norm for typical middle class Malaysians, but hey, to each his own.
Clearly even if the parents have the financial knowhow and resources, this may not be passed down to the children.
Something is missing here, there is so much more untapped knowledge the parents didn't pass down.
The first step should be to consolidate finances before even looking to invest. Even at RM6k gross, RM 2k+ instalment is not a healthy ratio considering his failure to save RM 1k.
Work for money 35 years, questionable 😩
Gar Yao Bro
soo young
Half salary goes to house ady. Ma man is living dangerously
His father is always there to assist him 😁
Relax la wei. Got back up plan 😂