MY FIRST PROPERTY PODCAST

Рет қаралды 6,156

Күн бұрын

Пікірлер: 24

@brandonling9663 Жыл бұрын

47:34 if I don't choose this time to be money minded, I will spend my whole life to be money minded. Wow, I actually relisten to this part a few times. Very inspiring discussion

@iherng Жыл бұрын

Yea. I learnt a lot too:)

@callmeqi Жыл бұрын

8:30 upfront 25% is a norm in the UK for buy to let mortgage which is mainly calculated based on your rental income. Own stay residential mortgage 90% is quite standard (normally 4 times of the annual salary). However back in 2006/07, people can get 100% mortgage plus renovation cost. It’s insane and that’s why the credits industry burst back then.

@callmeqi Жыл бұрын

10:22 take home £3k net per month means u have a gross average £50k per annum salary. Forster and Partners pay Part 1 architectural assistant about £30k gross pa. So that you can have a feel how much UK average ppl are earning. Why they are not buying? With £30k salary, they can get £120k mortgage, means they need to fork out £180k for a £300k property.

@Simithy Жыл бұрын

Chicken Genius Next?

@iherng Жыл бұрын

Maybe hahahaha. I hope to meet him too hehe;)

@callmeqi Жыл бұрын

48:43 well said. Choose the right and healthy stress/pain and manage it well so all the other parts can be taken care of.

@djdoodooyeah7538 Жыл бұрын

wow, really good talk.....learnt a lot!

@iherng Жыл бұрын

Thanks for watching Doo Doo Yeah!!

@ric3905 Жыл бұрын

I'm just thinking, if you are convenient to put in 25% to invest in property why not play in lelong or subsales in malaysia? I believe 25% put in, installments will most probably covered by rental rite? Just curious 😊

@iherng Жыл бұрын

Exactly!! Spot on!! That’s where I’m struggling with currently on whether do I proceed with the booking or not.

@cheehocklee2071 Жыл бұрын

@@iherng You will probably need more than 25% deposit. I am familiar with Australia property investment but not UK, but I believe there are similarities. Good/experience selling agents can only guide a purchaser through the purchase process but do take note, they cannot control the developer, banks, and managing agents. The purchaser/owner must take ownership to solve whatever problems that may arise. 1) Developer. Selling agents will always play to be in the good books of the developer, else they will not get any stocks to sell. Whatever issues that arise, just don't expect any help from the selling agents. 2) Banks. Loans requirements keep changing. 10 years ago, it was damn easy to get loans from Australian banks. Then they stop lending to foreign investors. Fortunately, I was working in Singapore. Those with SGD salary, there are more options in respect to financing. This is only 1/2 of the battle. To get loan in Singapore/Malaysia for an overseas investment property, one needs to be a premier customer. Each bank has its own criteria. Example HSBC Singapore requires SGD200K in deposit to be a premier customer (Non-PR/Citizen). This is in addition to the deposit for the investment property. In the case for Australia, if purchaser cannot get loan to settle, the deposit will be gone. In addition, the developer can take legal actions to recover cost to resell the property. Example, if the developer can only resell at 250K but the purchaser bought it at 300K, the developer can recover the 50K loss from the purchaser. Therefore, it would be safer to have 50% of purchase price ready, else there will be many sleepless nights. 3) Managing Agents. We are talking about 10-20 years holding period. These days, not many marriages can last that long. We must actively monitor the performance of the managing agents and whichever overseas city we invest in, there must be abundance of good managing agents in the market. We must be able to replace non-performing agents within 1-2 days. The longer it is, the more $ we lose. In Australia, we can replace the managing agent immediately within 24 hours. There are plenty of good one in the market. Not sure about UK.