This guy drove all the way from Genting to meet me and wanted too buy more properties but has since got stuck due to 70% LTV.
I asked them why they even bother looking at properties as they are already doing so well in business. Just keep doing what you do then.
You see, I like buying and keeping properties but i dont necessarily enjoy managing them, maybe that’s love. Or maybe it is not.
I’d like to declare this is merely an opinion of mine. The information shared in this post isn’t a recommendation for anyone
However, out of the 4 properties he purchased, one of it worries me as I felt he might have overpaid for the property.
The problem with JV is that to make things worst, they don’t have sufficient cash reserves to hold the property during downturn.
Don’t attend Sarjana Hartanah else you will be like this 24 year old guy who recently purchased and secured a loan for his 5th property.
In this case I recommended for them to move to the semi-D instead despite its costing them over RM3000 per month
People often ask me why I only invest in cashflow based properties and not other property asset class or other investment vehicles.
I told them that with their limited income that it will be impossible for them to buy another 4 properties unless…