I remember my first property purchase, my rule was I want to be able to stay there if needed. If you would potentially want to stay there, then site visit is 100% a must. Partly to verify agent's claims and partly to know what you are going to be paying for for 35 years. And never just focus on 1 potential property. Once you visit a few, you will notice the agent's sales pitches are 80% the same. Then you start becoming numb to it and start to think for yourself. That's where I resonated with Sean since his core tips really mirrored my own purchasing experience.
We invested in Ipoh properties, rent it out as Airbnb, and get positive cashflow every month. During the 4-5 yrs of owning the house, we've only paid for the house installments from our own pocket during the first 3-4 months of renovation. 300k can get a double storey landed, leasehold in Ipoh.
Perhaps she has zero monthly commitment and 100% FULL savings from her entire salary (if you know what i mean), but Sean still giving a very professional advices indeed, good job! Love this kind of video
Thanks for the advice. Quick question, usually if we are looking for a new place, the developer will not allow us to visit the site due to risk of getting injury as its a construction site. any idea how to go about this ?
My current income is just below 3k and there is no property that suites me these days.. currently married staying with parents.. Klang Valley property price is a pain..
Stay in Ipoh, invest in KL? That alone will compound your misery. Property investment is NOT passive income. Things can go wrong with the unit. Can you manage if one day you got a call from unit below saying his unit got water leaking from your toilet floor? You know how to look for water proofing services? Can handle 400-500km drive just to get those kind of problem fixed?
Hi Shawn a.k.a iherng, In this modern era of new developed properties where majority of the pipelines/pipings are normally concealed/built behind walls where we as owners usually have limited or totally unable to access these areas, what if in the long run due to wear and tear or some sort of defects regarding the pipings causing leakages. How do we go about this issue? Will the management take responsibility or its a self responsibility? if self responsibilty, how should we as home owners go about this issue?
This is a very good reminder and lesson regarding risk appetite and risk management. Understanding our own risk profile is crucial before going all in.
@@iherng You're welcomed. Really appreciate your content and knowledge. I think it's important to have videos like this to remind viewers regarding risk. This shows that it's not just about buy, buy, buy. Anyways good work bro, keep it up.
2 options, 1. buy a place that is within affordability for investment (but there are so many more investment options outside). 2. get a higher pay job if insist on 600k unit. Also, calculate the instalment not on the current % where OPR is "still" relatively low, calculate them at a higher rate (like 4.45% or even 4.7%) to see if you can really afford when OPR goes up. lastly, why use a "own stay" scheme for "investment purpose" unit?
Well, if something bad were to.happen to the unit due to tenats negligence. The TA cannot be taken into consideration as you cannot be considered a landlord. There's a considerable risk to the owner to rent it out, there'll be no protection.
It is really true about the advice from Sean. Please always remember to buy property within affordability and site visit & study the place before your buy.
@@ankllkmjd2 its before discount, its been quite awhile already, but if not mistaken i am offered 20k discount. its a nice condo, but too bad i cant take it, i took another one instead.
![“อ.เบียร์ คนตื่นธรรม” มาตามคำเรียกร้อง แหกศาสตร์ฮวงจุ้ย เตือนสติอย่างมงาย | แฉ 7 พ.ย. 67 [1/3]](http://i.ytimg.com/vi/5fc4S3xBNfc/mqdefault.jpg)
I remember my first property purchase, my rule was I want to be able to stay there if needed. If you would potentially want to stay there, then site visit is 100% a must. Partly to verify agent's claims and partly to know what you are going to be paying for for 35 years. And never just focus on 1 potential property. Once you visit a few, you will notice the agent's sales pitches are 80% the same. Then you start becoming numb to it and start to think for yourself. That's where I resonated with Sean since his core tips really mirrored my own purchasing experience.
We invested in Ipoh properties, rent it out as Airbnb, and get positive cashflow every month. During the 4-5 yrs of owning the house, we've only paid for the house installments from our own pocket during the first 3-4 months of renovation. 300k can get a double storey landed, leasehold in Ipoh.
Hi, can share which area in Ipoh you have invested?
@@ccchannel4824 one in Taman Kampar, and another one in Gunung Rapat
@@eikichan316 thanks for your sharing
Perhaps she has zero monthly commitment and 100% FULL savings from her entire salary (if you know what i mean), but Sean still giving a very professional advices indeed, good job! Love this kind of video
Good advice. Don't rush to purchase property just to keep up with the trend of "You should buy a property in your age now!".
Agreed!! 100%!!
Thanks for the advice. Quick question, usually if we are looking for a new place, the developer will not allow us to visit the site due to risk of getting injury as its a construction site. any idea how to go about this ?
You can ask from your sales staff for site progress photos but they are not obliged to provide.
The property agent also not professional. How to introduce a RM600K unit to a potential customer with RM3000 salary.
My current income is just below 3k and there is no property that suites me these days.. currently married staying with parents.. Klang Valley property price is a pain..
Then I will suggest to rent first unfortunately. Focus on building knowledge and skillset first lah. Stay positive yea!!
Stay in Ipoh, invest in KL? That alone will compound your misery. Property investment is NOT passive income. Things can go wrong with the unit. Can you manage if one day you got a call from unit below saying his unit got water leaking from your toilet floor? You know how to look for water proofing services? Can handle 400-500km drive just to get those kind of problem fixed?
7% interest rate will mess you up, 11% interest rate with no job and u are waiting for bankruptcy
Obviously, the property is beyond your affordability. You are just too optimistic about the rental income.
3000 to buy something like 600k lol, i dont even think to buy any house unless i have a solid 5k as a single guy
Yealoh. Thanks for sharing JY=)
Hi Shawn a.k.a iherng,
In this modern era of new developed properties where majority of the pipelines/pipings are normally concealed/built behind walls where we as owners usually have limited or totally unable to access these areas, what if in the long run due to wear and tear or some sort of defects regarding the pipings causing leakages. How do we go about this issue? Will the management take responsibility or its a self responsibility? if self responsibilty, how should we as home owners go about this issue?
This is a very good reminder and lesson regarding risk appetite and risk management. Understanding our own risk profile is crucial before going all in.
Yupe. So glad that message went through. Thanks for watching!!
@@iherng You're welcomed. Really appreciate your content and knowledge. I think it's important to have videos like this to remind viewers regarding risk. This shows that it's not just about buy, buy, buy. Anyways good work bro, keep it up.
2 options,
1. buy a place that is within affordability for investment (but there are so many more investment options outside).
2. get a higher pay job if insist on 600k unit.
Also, calculate the instalment not on the current % where OPR is "still" relatively low, calculate them at a higher rate (like 4.45% or even 4.7%) to see if you can really afford when OPR goes up. lastly, why use a "own stay" scheme for "investment purpose" unit?
Just invest in a lower price property. That is ridiculous to go "all in" in a single investment. Sounds like a suicide decision.
Exactly!!
Correct me if I'm wrong. For houzkey, you are renting from bank. Can you make tenancy agreement? I don't think it is allowed.
Maybank banker confirmed there is a clause in the agreement saying renting out is Not allowed.
Yes it stated but we shall see yea. Malaysians are very creative hahaha=)
Well, if something bad were to.happen to the unit due to tenats negligence. The TA cannot be taken into consideration as you cannot be considered a landlord.
There's a considerable risk to the owner to rent it out, there'll be no protection.
Nice episode! Is always good to buy something we can afford vs we die die want to afford.
It is really true about the advice from Sean. Please always remember to buy property within affordability and site visit & study the place before your buy.
Thanks for watching Giat Man.
Do consider subscribing so I get to help more people yea=)
found a condo in cheras last time for about RM370k, they even offer me discounts lol thats alot cheaper than anything at my place.. and its freehold
370k is after or bfore disc?
@@ankllkmjd2 its before discount, its been quite awhile already, but if not mistaken i am offered 20k discount. its a nice condo, but too bad i cant take it, i took another one instead.
I earn RM3900 I only qualify for RM235,000 loan.
nice advice
Glad you think so Shane!! Thanks for watching=)
Sean, great advise. 👍
Glad you think so CY =)
I always hear the ending song and really love it... What song is it ah?? @iherng
That shall remain a mystery hahaha. Anyway, thanks for watching!!