ASKING SEAN

In this episode, we will discuss about loan application. This audience went through rejections earlier due to misplacement of income into different accounts.
Hence what should be the right procedures? And what other factors contribute to loan rejections.

[@vineshrajoo2805]

Thanks for another video with lots of your personal insights. Times are hard right now and with all the scams going on right now in the property market, I am not surprised that banks are more careful right now.

[@iherng]

Well said Vinesh!!

[@kelvinyong7761]

Good morning Sean. Cannot sleep and then your new video mari.

[@iherng]

Hope you enjoyed it! Hahaha. Really appreciate it=)

[@kasyfialifkamaruzaman9329]

Hi Sean, can you make a video on how to get favourable interest rates for home loans? Thanks!

[@iherng]

Erm, hmmmm..... I don't think you can but let me try!

[@propertystories]

Hawkers, pasar malam operators, and those who run small businesses like this is hard to get loans. This is due to; 1. nature of business 2. proof of source of income (cash collection hard to proof) 3. not having the right knowledge (tax, operations, accounting) 4. not having the right people on team to advise (accountants, bankers, lawyers, and etc) These are the steps I would recommend for everyone in the same boat; 1. Register a company (sole proprietor also can) 2. Open company account 3. Bank in money consistently (remember banks are conservative institution). Example, you close your accounts for the week on Friday, hence you bank in some cash on every Friday without fail so you can show the bank that you have business and how much you can collect. 4. Give it some time. Most banks don't lend to young business

[@iherng]

That's some great advice man!!! I really appreciate it!! Wow=)

[@propertystories]

@@iherng Welcome man!

[@christopherchong592]

leaking and all that, only insider will know. even the current issue unless you stay there else you wont know. good information sharing.

[@iherng]

Thanks for watching Christopher 😊

[@mohdshahrulhafizi]

Sean, what are the pros and cons of serviced residences which built on commercial land plot. Is it all leasehold?

[@iherng]

Erm, commercial or residential are just express conditions (usage) of the land. Freehold and leasehold is a whole separate thing altogether and they are not correlated at all. Then another thing is whether the building is registered under HDA. Since it's rather complicated, let me try to do a video on this=)

[@ngrobert5054]

Banker is inwards not out of the box

[@iherng]

Well, we will need to play in accordance to their rules unfortunately. Thanks for watching Robert.

[@hafizyyyyyy]

Hi Sean any recommendations on cyberjaya property for ownstay budget 300k+

[@iherng]

I would suggest to look via property portals yea. But you'll need to decide whether ownstay or investment.

[@ngrobert5054]

Offffficer wrong

[@atengku9660]

Iherng, are you orang kaya or anak orang kaya? If you aren't, for sure you won't be interested to do reviews on property which is not cheap.

[@iherng]

Have you seen all 132 episodes A?! There are a mixed of developments. But unfortunately I don't easy access to rumahwip or rumahselangorku if that's you mean. Well, I sure strive to be orang kaya but I'm grateful that my family is doing okay.

[@atengku9660]

@@iherng Just knew about you. And I subscribed immediately.

[@iherng]

Wow!! I really appreciate it. Do share with your friends and families as well yea hahaha:)

[@atengku9660]

@@iherng Hope the media and tv stations will notice you one day to do interviews.

[@lytloccverymuch2009]

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