ASKING SEAN

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Brothers all wanting to live together with their father, that's why they joint name to get a house. What a romantic story!! But in reality, I think it's a mistake because it was totally beyond their affordability.
Now they are even contemplating on how to get money for renovation. My take is since when there is a minimum standard for renovation? The comfort level is absolutely based on our financial situation. Anyway, they have an apartment they shared earlier so the question is whether to refinance? Or to sell the property so they have money for renovation.

[@AtmosJourney]

After listening to this story, I can only say to the brothers to pray hard and hope nothing will happen e.g. job loss, sickness or unexpected surprises that could affect their money incomes to pay off their new mortgage loan. At that late career age for lots of folks and the always uncertain economic outlook, it is highly risky to venture into home ownership in this type of scenario. Live simple and live within your means is the best principle in life. Sean, after following your channel for more than a year, I’ve finally subscribed to your channel 😊

[@ffa6681]

The misconception people have is property price will only go up. If you have bought your property in the last 5 years, there is a chance that your property subsale price is lower than the price you bought it for.

[@AtmosJourney]

@@ffa6681 Rightly true. The good old property investment days are fading giving way for more liquid assets. Don’t even try to think about gold investment too because it’s just as difficult to gain a profitable return.

[@ylihao]

The timely rainfall and thunder really resonate and intensify the seriousness and severity of the conversation 😆

[@iherng]

Yealoh hahahahaha. Thanks for watching!!

[@goldfries]

Haha, calculation in Chinese part - I'm like that too. Chinese school multiplication timetable still applicable many years on. 😁

[@iherng]

Hahahahahahaha!!

[@alvinsoong123]

The heavy rain background in the video indicates that god also felt sad for them.

[@iherng]

Hahahahahaha:)

[@coolaldred]

No money. Don’t renovate.

[@foureyeswonder]

My thoughts exactly.

[@visualnanas9199]

Would sell the apartment.. get 200k... Throw 100k into loan (assumed flexi) allocate 80k for reno... Prudent kaw kaw... Set 20k as emergency fund for the loan... Then set another fund between brothers... Each contribute an amount every month for future reno or investment... There will always be more investment on hand provided if the brothers hav more strategic planning (buying the 1mil house shows lack off 😢) but is a gud start as the brothers hav gud bonding.. just lack of a united vision... But is time to think of how to up the income frm 12k (3 person) frm more income source and investment.. but with planning and determination.. they would make it.. the 1mil mortgage is a good motivation to kick start the master plan... All da best

[@cylouie8423]

Good content plus ASMR bonus video. Keep up the good work 😊

[@iherng]

Thanks for watching!!

[@yeowchongong5608]

Family members buying together for own stay is a recipe for disaster 😅

[@iherng]

Yealoh. Hopefully they manage to get over this smoothly:)

[@RobertMcCalle]

Scenario 1 : rent out the condo Scenario 2: treat landed house as investment. Can sell at finished price. Or rent it out again. Scenario 3 : rent out both house and use that rent to finance a new house that can be rent out.

[@访客一]

Rent them out and stay with a family member or rent a room outside

[@editionlvl]

12k for 1 million is extremely high risk should anything go awry....and of all places, setia alam properties don't appreciate that much especially landed given the size of the project, don't expect it to go up in the next 5 years or so.....Great place if you want to stay but not for investment, in any case properties in malaysia at this moment are meant for own stay, the investment returns is neglible.. Now that you have committed, it's pointless to look back....First of all, you can't afford it...period.. Hopefully you can breakeven when the time comes, sell it off

[@knock-knockwhosthere9933]

The moment one of them decided to end their single status, the commitment of that individual would divert away from this unity. The presence of that woman would change the whole dynamic of the situation. Don't bank in on the fact you can control your wife. As time passes, she would want a final say and the husband has to listen to the wife because they are sharing bed, over the oath he carries. She is not there just to tumpang as opposed to initial expectation. I've witnessed this on the family business affairs of other ppl. The grandfather (founder) just teh-kin-lam-pa because jia-he-wan-shi-xing and things get awkward around the dining table.

[@kennethtan6789]

Hahhahaha, I also revert to chinese when I do mental calc due to chinese primary school. Really feel for the discussed case. Great lesson in the the importance of the early first step. Awesome of you to suggest recovery from the situation.

[@tangchuengkhai]

Sounds like 4 guys with financial crisis YOLO and pursue a bigger debt 😅 landed property require lots of maintenance, in other words more cash flow is required than actual planning. If they going to maintain a shaolin status quo for their remaining life then no problem and go ahead.

[@petiachoo1615]

Spouse and spouse buy property together already a bad idea. So many names share will have estate succession issues in the future.

[@kjbon]

I have not seen you so stressed up replying to a reader. I hope the brothers would get along. If not, gg.

[@iherng]

Wow you could tell. I’m genuinely worried about their next step actually… hopefully they’ll make the right moves.

[@chanhonyew1]

Recipe for disaster. Greed is the cause. Also buy first worry later attitude.

[@iherng]

Maybe it's just less informed. Hopefully the brothers will find a way. Thanks for watching!!

[@207history2011]

12k per month salary for 3 is risky

[@iherng]

Yea. Plus it's by 3 person, hopefully they will be prudent with their spendings now.

[@207history2011]

@@iherng 3 persons meaning chances of getting retrenchment is higher.

[@jessgan2055]

Won't 3 person be better cos more ppl can contribute and able to withold longer?

[@patoises]

it seems the bank does not think it is a risky loan and happy to lend to the brothers

[@fkmyoutube]

Option 3: Increase income

[@wayneoh7710]

I wonder, can AKPK help in this situation?

[@iherng]

Nope. He is not in debt problem.

[@jessgan2055]

Defect fixing not covered by developer?

[@iherng]

It’s covered. But it’s about the time required because it also means they need to rent a place outside before defect is completed.

[@lokix19azxc13]

Last Resort, Sell the landed at breakeven + closing cost if possible, then rent a new place at a lower amount. This will crush the dream of owning a landed house, but at least in terms of lifestyle is still manageable as down the line and there are other personal expenses to worry about other than just the housing loan that comes with age.

[@fm41380]

i one person with 10k above salary also not dare to buy 1m house lol so brave

[@iherng]

Well that's why it's good for them to share such stories so we can learn from each other.

[@jessgan2055]

What about the MOT fees? Have it been included in the purchase price ? Otherwise need to plan for it.

[@iherng]

Well I'm not too sure on the sales package they got for the house but that's very good point!!

[@edwardch1858]

How about renting a single storey at cheaper price which good enough to cater 4 grown man, and rent out their own double storey house at higher price. The family should to save up to 1k monthly

[@iherng]

It does not work to rent a place and to pay installment for a double storey house where the rent is lower than installment. Landed house very hard to get the rent to cover installment wan.

[@lykong8]

Possible to sell the landed instead? Definitely with a loss, though but it's a short term pain

[@chickenchopfriedrice]

more issues la. bear the loss evenly? later finger pointing each other

[@iherng]

It's too soon. Most probably they will sell at a loss.

[@lykong8]

Knowing that they will be paying mostly interest to the bank for the next few years + probably 100k for renovation... That would be considered a 'loss' as well.... it will affect their quality of life and maybe relationships just to sustain this house long term. My 2 cents.

[@chyu89]

Definition of no woman no cry.

[@iherng]

Er.... hahahahhaa.!!

[@sndseen]

Hi Sean, new sub here! Love your insightful and honest contents. This is off topic but would you mind elaborating how u got 304 after the 7:41 chinese calculation bit?? my chinese brain is just not braining.. 😵‍💫😂🙏🏼

[@shinovasion6826]

You just scare the shit out of them by sharing the potential issues of living together.😂😂

[@iherng]

Well that's reality right?? Thanks for watching yea;)

[@Skrr776]

New phoneeeeee! Can’t believe this dude is spending money on things other than property and watches 😂 your life my dream

[@iherng]

No lah. It’s been a while since I changed. Well it’s to allow me to have better workflow. Thanks for watching :)

[@oceanblue1211]

Setia Alam landed is doing really well, potentially the price goes up after VP-ed so can consider selling right after VP. Lots of landed houses rental is very low in Klang Valley so can consider renting a place to have all family members staying together to save cost paying rental individually. Not sure about the rental yield for the apartment but can consider selling to get a better yield unit for investment, or spend some money to do up to maximise the current unit rental. Do consider not making the same mistakes again while getting an investment unit.

[@c.syoong9668]

Hi Sean , Are you interest to review my new property rumahwip in Bukit jail ?

[@iherng]

Yes. Can you send me an email on this so I can arrange:)

[@c.syoong9668]

@@iherng can share me your email

[@indderkumararsaythamby8172]

Drama weiii😂😂

[@fkmyoutube]

Me and my wife have combined income of rm16k, but we stay in a RM 450k condo only. 1 million property with 12k income is asking for trouble.

[@207history2011]

Myself and wife combine income is rm 65k per month. Staying inside rm 800k landed.. lol

[@fkmyoutube]

@@207history2011 fuh 65k, T1 ni