ASKING SEAN

Currently, our government has set a rule to only allow Malaysians to be entitled for 90% loan for our first 2 residential properties. This a cooling measure implemented to curb the property bubble back then.
However, that created a lot of anxiety for first time home buyers as they try to strategize every move correctly. What would I do??

[@vineshrajoo2805]

Thanks for another great advice. Good of you to talk about the maintenance quality of different properties, as we have really bad maintenance culture in Malaysia.

[@iherng]

I believe that will change because generally most Malaysians are still getting used to strata living where we are responsible to communicate within the community and work together to maintain the neighbourhood. Thanks for watching Vinesh. I really appreciate your time and effort to share your side of the story all the time!!

[@holybring2]

Thank you so much for answering my question! It was very helpful! Happy New Year to you and your family!

[@iherng]

Thanks for reaching out Jenn Hua. Hopefully it helps!!

[@helmiefiqri631]

I really how you explain stuff. Good takeaway and thanks for all the free sharing knowledge! Keep it up!

[@iherng]

Thanks for watching Helmie=)

[@TonyBeanify]

It's only considered as wasted quota, if you wasted your precious quota on bad investments.

[@iherng]

That's so true!! Well said Tony

[@Onion_Knights]

I still have multiple 90% quota... Bcos banks wont give me loans -.-

[@cheewaidavidwong7256]

thanks sean for good video and nice advise😊

[@iherng]

Thanks for watching David:)

[@gayathrisurjitsingh9333]

Thank you...

[@iherng]

You're welcome Gayathri=)

[@propertystories]

No need to YOLO because FOMO can be a costly mistake especially in real estate investing. Good advice Sean!

[@iherng]

Absolutely!!

[@TheKindcitizen]

Great advice! Sean you mentioned some of the well-maintained units in Mont Kiara, care to drop a few names for me to do some research?

[@iherng]

They're basically old projects developed by Sunrise back then:)

[@geoffreycxn3695]

Malaysia really need u my brother

[@iherng]

Hahaha. Thanks Geoffrey!!

[@403424034]

but if i spend 20-30k in renovation to get that 300-400 extra rental, it will still take 5 to 6 years for me to recuperate the furnishing investment cost in addition to opportunity cost and maybe by that 5-6 years time, the furniture already old and need to refurbish again. Feel kind of like back to square 1 wor... If i were to sell the house, like mentioned in your previous videos, you mention that furnishing cost is burn de ma. The potential buyer may not be willing to pay that 20-30k for a furnishing of my style

[@iherng]

RM 20k - 30k is merely enough to get the unit 'tenant' ready. By the time you put in essential items such as kitchen cabinet, air-cond, furnitures, lights, fans, washing machine, water heater, it's almost around that amount already. But with that RM 400 extra rental, indirectly your unit already worth RM 100k more. This is because a RM100k 30 years loan is around RM 400 a month. Plus with such competition in the market, it's pretty rare for tenants to rent bare units. It doesn't make sense for me to move into a place where I need to buy my own dining table since it's not mine after one year. Thanks for asking KL=)

[@403424034]

aha... alright. Now I get it how you calculate this

[@patoises]

hi sean, logic a bit difficult for me to follow on this one. question was 200k vs double/triple for first investment. But you also talk about old versus new, positive versus negative cashflow, capital investment, KWSP, maintenance etc. So rambling on a bit? What's the key takeaway to the question, assuming everything else being equal? thanks

[@iherng]

I even gave the exact scenario of what I would do already hahaha. The answer is take the positive cashflow property first. Then following that, would be every move that I would make:)

[@insyirahamirul7029]

Sean what do you think about buying furnitures on credit in order to invest more money (for more return in long term)? And, any advice for first-time home buyers on budgeting the moving-in cost?

[@ifeelhalfnaked484]

talk to makeoverguys, there's a reason why they charge you professional fees.

[@iherng]

Hi Insyirah, I would buy furniture on credit only if it's for investment purposes. I will do that for own stay unit. As for budgeting, it really depends on the intention of the property. For investment, there's somewhat a guide but it differs to market segments. For own-stay, there's not much limit. Budget is the only limit:)

[@mkt8394]

Hi Sean, regarding on the withdrawal of EPF account 2 for downpayment. Are we limited to restrictions for example only applicable to my first home purchase? Or restrictions like only can withdrawal once in my life time?

[@iherng]

If not mistaken, you can only withdraw once for one property at a time. It means if that property is sold, then your next one you can do the same. Then it's max 10% of your SPA value or everything in your account 2. Another option is to take money out to offset your installment. It means the fund from your account 2 from KWSP will be transferred directly into your loan account.

[@mkt8394]

@@iherng thanks for the kind reply!

[@ahaha731]

6:29 haha free advice ma

[@iherng]

Yupe. Just ask only... hahahaha=) Thanks for watching Ji hu!!

[@kribrigdefoo]

Hi Sean, how do u still get 90% finance on your third property?

[@iherng]

I didn't get 90% for my third property haha. A trick is to share with a 'fresh blood', which means you leverage on his or her name but you share your opportunity and money haha=)

[@naqiuddinkamal4331]

New normal. Newer phase a lot of cheaper. Earlier phase are struggling in subsale market because new launch is cheaper than earlier phase.

[@bejijat]

220k unit for 900pm is not profitable

[@UnappreciatedTaste]

‘i’ herng or ‘e’ herng?

[@lianglu5217]

E

[@iherng]

It's okay:)