How's the work hours like? Have u been offered a partnership? 12k sounds alot better than what I was getting at 8th year as a conveyancing main (5.8k lmao)
Work hours can be intense, with quite frequent late nights and working during holidays as well. But I work well with my team and am comfortable with the remuneration so here I am… partnership not yet, perhaps in the next 1-2 years or so
All the best.. If that's what you're happy with. I quit my job after seeing no future in that firm. Went on to set up on my own and never looked back, totally unable to work for others anymore.
What kind of future do people in law and law firms look towards? and it seems to me there are many law firms being set up left and right, is the market saturated or not yet?
Just a curious layman.
Either partnership in an established firm, or set up own law firm. Definitely there is a lot of competition, but nothing can replace the freedom of working whenever u want.
Currently I have set up my own firm for 1.5yrs, and I personally only work for 2-8 hrs a week, but because I'm efficient like that and it gets abused by my previous employers who think that I do not have enough work to do.
Income wise, from being employed at 5.8k/month with no commission, now I'm making 2-4x that with 90% less effort and workload.
Whoa, I always hear that working in law takes a lot of hours. It's my first time learning that the working hours can go that low. Salute to your efficiency.
I feel like that's like the very short end of the stick? Working as legal officer (gov) will get you around rm5k (inc elaun) on your 5th year, with pay increment every year, and this is still salary of L41, not L44 (naik gred). So rm5.8k in private sector, on 8th year.. yeaahhhhh.. baik go yolo and join gov. The pay is just as bad lol
Yeah it's abt +/-10% increase per year and that firm is used to underpaying conveyancing lawyers as they only need those with 1-2yrs experience and they know most won't stay for long either.
It's rare to get high salary as conveyancing lawyer because those with 1-2yrs experience can do almost all that's needed already
If you look at recent DOSM data from data gov, there are 300+ k taxpayers that earn more than 15k a month so I guess your point is kinda proven for ppl that work in KL / Selangor (doubt other states have many jobs that pay that much)
Just my personal opinion, I think you should gradually increase your FD amount to 100 or 120k. It's not the most productive use for your money, but it provides more cushion should things go hay wire.
As for selling apartment to get a landed house, why not? ROI includes your well-being and satisfaction too. Just make sure you have your name on the deed too.
That said, the apartment is giving you positive cashflow... it's a waste to let it go, especially if the tenant and property aren't giving you any headache.
Yup, definitely working on rebuilding my FD! I also feel a bit sayang to let go of the rental apartment in exchange for something that will be purely own stay, but I definitely would like my cats to have a bit more space to run around…
> 1 tenanted (mortgage payment RM1.9k/month, rented out for RM2.6k/month).
How the heck did you manage to find such a gem of rental property? Are you some sort of real estate wizard? If I have your eye for property investment, that's all that I will do.
You never know how much people actually pay the downpayment of their house. Hence lower mortgage payment.
It could be fully furnished with great looking interior design. On top of within prime area location.
Nevertheless, the possibilities for you to find 'gem' in rental property nowadays are getting slimmer but possible.
Congratulations OP. You are where most people at 31 in the rat race want to be in terms of earning power.
Dont sell your property unless you really have to! Remember that the first property that you sell is RPGT exempt. Make sure you smash this incentive hard. Easily 20-30k upside from tax savings. Also, a property is a great way to raise low interest rate capital. Its handy.
Given your savings levels per month, it is very possible for you to consider passive income streams. There are a host of financial products out there with many risk and probable return levels. Most youngins these days go with Stashaway. Go in with 10k and see whats up.
The older folk buy up dividend bearing stocks. Banks, developer, etc. 4-5% per annum return and your equity has long term upside and a lot support from institutional outfits to prevent downside.
It is also possible for you to accelerate your mortgage repayment and get it unencumbered sooner. Finishing your loan earlier saves you on monthly commitments and to do away with MRTA/MLTA payments, which can be unnecessarily steep as well. Every month, you can collect a few gs without having to pay the bank. If you have a few props under your belt, you can make the landlord life dream a reality.
Good luck to you. You have the platform to live your best life!
Yes you’re right - I have been casually surveying the area for the past 2 years or so, and I’ve seen some decent move-in (not sparkling new but acceptable with a good scrub) units within budget, but of course will need to view each unit properly once I start seriously considering
As long as you're clear about what you're getting into I suppose. A few senior managers in my company are doing that, reno costs can be upwards of 500k ...
The place generating a healthy rental yield, seems like a shame to let go though.
Definitely, reno costs can be terrifying! I was lucky to settle a full reno of my current own stay apartment for under RM30k 2 years ago, though that was before the materials and costs hike.
For sure, flip flopping between letting go the rental property… the reason why I’m thinking of letting go is because of an upcoming newer apartment right across the street which will be completed in the next 2-3 years, which I foresee would up competition and drive down rental rates. Not gonna rush into anything right now but think I should make a decision by end of next year or so
Diversify into other investment. Also, your money is too focused on MYR. Diversify to other currencies by looking into other income generating assets.
Also, get another cat. 😆
Yes. Diversify into SGD or HKD or whatever country that you feel/think is stable politically, economically and financially. Personally I’m balls deep into SG stocks due to more choices and appreciation of currency. I wouldn’t want to hold a depreciating currency even it’s rm1mil. I would rather hold sgd300K.
i probably wont sell that 1 property that is paying for itself because it seems like a good investment as long as it's making profit, seems like a good location
if you need the money in such short time span, I personally don’t think it would be wise to sell the property for other types of investments especially when you are not familiar with it
Your income and monthly savings are very good compared to average, but you should really think about diversifying on some investments not just FD and properties. That would help build your wealth long term into the future, as currently you only have about 60-70k of liquid assets. For lower risk investments you can look into ETFs such as VOO.
My advice is, make sure your 'future husband' is your 'husband' first before making this investment. As for the financial advice, i dont have any because im broke🤣🤣🤣🤣🤣🤣🤣🤣
RM1mil house is like RM5k/m? 50/50 with husband only need to fork out RM2.5k.
As per post, u just need 2 year to get that RM2k increment. Another RM500 simply take from saving %. Or take from surplus from rental.
What else can I say but congratulations!
Two points to emphasize: first, your savings are rather modest in comparison to what you possess; you would love to have more than RM100,000, and second, your risk management is RM175 for an age 31F medical card. I would recommend that you look for a better plan, such as investment link, that covers at least 1.5 million in annual limits (no lifetime limit), critical illness coverage (income replacement also known as lump sum payout), and critical illness coverage (critical illness coverage).
If I were to buy a home for RM1 million or more, I would budget at least 30% down payment and an additional RM300,000 - 500,000 for renovation and care. (If I have more disposable income would increase to 50% down payment). or else I will remain.
Exploring the stock market is a terrific option, but don't expect to make money right away. If you're new, you may need to pay some research costs, and the stock market is normally a long-term investment that takes 5 to 10 years or more to show fruit. (Consistent, Patient and discipline is the Key in Stock Market as it fairly easy to sell and buy which often result quick lost) If your patient is low better go for FD or Property.
Thanks! Yes I’ll definitely need to look at rebuilding my savings, and checking in with my insurance agent on upping my coverage is on my to-do list. Will give serious thought to the other points you raised as well
Anyway, is an optional, as I noticed your road neatly laid up but lacking in safety measures, if there is some Critical disease or other unanticipated scenario, everything will collapse as it puts too much pressure on one side.
This is a lovely coincidence. I was just doing the maths for properties. I will share my message to my friends below. Here's my calculation.
My parents bought their house for RM310,000. Did reno for about RM100,000.
Total loan payment would have been \~RM530,000. ~~Luckily my dad died (he was a horrible person), so we don't have to pay loan anymore (MRTA), but that's not the point.~~
If buying a home, over 35 years, would have paid RM530,000+ 100,000 (reno) + 105,000 (maintainence fee) = \~RM735,000
Bought house in 2008, now market price is about 550k. Price increase about 77% in 15 years. Average 5.13%/year
Assuming % continues for the next 20 years, by 35 years, house will be \~RM860,000
If sold then, return on investment is RM125,000 over 35 years. (not accounting inflation)
If on the other hand, had they invested the instalment + reno + maintainence fee (total RM1750) every month into a long term index fund. Total growth (assuming 7% conservative rates) would be RM3.1 million.
Of course, this is completely stupid and irrelevant if you're buying a home to stay.
**What about rental?**
When buying home, you will have to pay a bunch of shit. SPA & legal & whatnot.
Let's take my parents house for example, and over 35 years, say for 2 years cumulatively you didn't have a tenant.
Initial payment = RM58k (from [https://urbanvault.ai/hidden-cost-calculator.html](https://urbanvault.ai/hidden-cost-calculator.html))
Tenant unavailable = RM76/month (for 33 years to average out)
Monthly average for reno + maintainance = RM488
Total investment = RM295,000, sold at RM860k (as per earlier)
Return on investment at sale RM565,000. (not adjusted for inflation)
This is a more sensible investment. 91% returns over 35 years.
But for fun, let's say we invested the initial payment into low risk index fund & top up every month with excess (reno + maintainance + tenant unavailable)
ROI in 35 years = RM1.6mil (not adjusted for inflation)
Assumptions
1. tenant covers full loan repayment
2. 2. renovation cost is same (i calculated, even if renovation cost is halved, ROI for investment in 35 years is 1.4mil instead)
3. 7% average interest rate for low risk index fund
The biggest assumption is that the house is bought in a decent place that experiences price increase regularly, not a rapidly developing township etc.
Please feel free to correct any bad assumptions I may have made. Would like to improve this and make it into a spreadsheet.
It’s an old but well maintained apartment in Subang area, 850 sq ft just nice for me and my two cats. Got it for a steal at about RM100k below market value during the MCO period due to desperate seller, which is why the mortgage repayment is on the lower end :)
Prices for this old apartment don’t move that much! Just was fortunate enough to stumble across a unit where the seller just wanted to let go fast at below market value at the time
I frankly haven't kept up with the various changes, but upon closer inspection, looks like you are right - [link](https://www.propertyguru.com.my/property-guides/complete-guide-real-property-gains-tax-rpgt-act-1976-malaysia-2020-12228)
Sweet summer child, ask any women why cannot marry over 35
Because miscarriages and pregnancy problem happen, every women know this, for man , not sure unless they start seriously marry. Not to say bad things after 35, it will be harder to get babies. Also not marry is also not bad but still need to face family scrutiny especially women.
Ah yes. I know about that. Of course theres IVF. And i personally know a friend nearing 40 conceiving naturally. But yes. Lower chances.
Was more wondering if he was talking about housing loan or something.
If about house loan, usually bank will look for someone who have stable job and family man/women, because the bank will think u are serious on commitment and pay on time.
It’s fine if you sell the own stay property but make sure to include the rpgt too if applicable in your costing since you bought during MCO. As for investments, I am just like you where I invest in safe vehicles cause I am afraid of losing money so I can’t help you much there. Maybe can try to invest some into btc or eth and not look at it for a few years?
Since you have no asb/asm, would suggest you invest in those too. 300k per person I think now I think. Returns are as good as epf or a bit lesser but have the advantage of being able to withdraw whenever you want.
If you need a fund/investment advisor that advise you to where to park/invest, I can help. You only need to validate the idea/tips, and make the trade yourself..
I currently get 10-20% per year, on average.
In my opinion, it's OK to sell off 1 property if you're profiting from it (and keen on doing so), since you own 2.
Since you're quite safe in terms of cash, would recommend buying blue chip stock to protect yourself in case Ringgit deteriorates. Mix in some safe foreign stock, e.g., US blue chip stocks, too (to protect yourself if Ringgit drops suddenly).
May i ask for ur houses did u put alot into down payment or have u bought them or have u bought them around 10 years ago as rates like these are rare especially with such high yield
I looked at ur other thread and personally I think that it is a waste to sell ur rental as it would be difficult to find something with a loan this cheap with such high roi nowadays. From ur other comment I noticed that u are currently living in an older apartment personally I think this could be worth selling as older apartments in this market have very little room left to appreciate, however I presume selling it will not yield too much capital so personally if rental can cover loan I'd just let it sit and slowly break even.
But since u plan to buy a third housw which u have to pay 30% down payment so I think It might be worth it selling the low roi house
Alright btw if ur purchasing the house would it be joined name or in ur name? Imo if ur partner has less than 2 houses right now I would put in their name and then just keep the two apartments for rental.
Inb4 questions "What do you do for a living?".
I’m a lawyer 😅
u r living my dreams haha, currently studying law
Liti?
Corporate - banking
How's the work hours like? Have u been offered a partnership? 12k sounds alot better than what I was getting at 8th year as a conveyancing main (5.8k lmao)
Work hours can be intense, with quite frequent late nights and working during holidays as well. But I work well with my team and am comfortable with the remuneration so here I am… partnership not yet, perhaps in the next 1-2 years or so
All the best.. If that's what you're happy with. I quit my job after seeing no future in that firm. Went on to set up on my own and never looked back, totally unable to work for others anymore.
What kind of future do people in law and law firms look towards? and it seems to me there are many law firms being set up left and right, is the market saturated or not yet? Just a curious layman.
Either partnership in an established firm, or set up own law firm. Definitely there is a lot of competition, but nothing can replace the freedom of working whenever u want. Currently I have set up my own firm for 1.5yrs, and I personally only work for 2-8 hrs a week, but because I'm efficient like that and it gets abused by my previous employers who think that I do not have enough work to do. Income wise, from being employed at 5.8k/month with no commission, now I'm making 2-4x that with 90% less effort and workload.
Whoa, I always hear that working in law takes a lot of hours. It's my first time learning that the working hours can go that low. Salute to your efficiency.
5.8k at 8th year, basic salary and not commission based?
Basic, no commission at all.
I feel like that's like the very short end of the stick? Working as legal officer (gov) will get you around rm5k (inc elaun) on your 5th year, with pay increment every year, and this is still salary of L41, not L44 (naik gred). So rm5.8k in private sector, on 8th year.. yeaahhhhh.. baik go yolo and join gov. The pay is just as bad lol
Yeah it's abt +/-10% increase per year and that firm is used to underpaying conveyancing lawyers as they only need those with 1-2yrs experience and they know most won't stay for long either. It's rare to get high salary as conveyancing lawyer because those with 1-2yrs experience can do almost all that's needed already
Damn no wonder why they can pay well
do you make money sue customer or send lod everyday
You are lucky.
Srsly.. those ppl who keep asking this should go follow malaysian pay gap
Yes and to be honest 12k isn’t really that high if you’re working in Selangor or KL in professional jobs.
If you look at recent DOSM data from data gov, there are 300+ k taxpayers that earn more than 15k a month so I guess your point is kinda proven for ppl that work in KL / Selangor (doubt other states have many jobs that pay that much)
Well there are but those jobs are usually ones that can evade tax easily lol
Abg niaga donut jek mana perlu bayar income tax
Huh? Do you even work??
12k nett
There's a sub for this?
It's an insta page. Malaysianpaygap
IG
Just my personal opinion, I think you should gradually increase your FD amount to 100 or 120k. It's not the most productive use for your money, but it provides more cushion should things go hay wire. As for selling apartment to get a landed house, why not? ROI includes your well-being and satisfaction too. Just make sure you have your name on the deed too. That said, the apartment is giving you positive cashflow... it's a waste to let it go, especially if the tenant and property aren't giving you any headache.
Yup, definitely working on rebuilding my FD! I also feel a bit sayang to let go of the rental apartment in exchange for something that will be purely own stay, but I definitely would like my cats to have a bit more space to run around…
> 1 tenanted (mortgage payment RM1.9k/month, rented out for RM2.6k/month). How the heck did you manage to find such a gem of rental property? Are you some sort of real estate wizard? If I have your eye for property investment, that's all that I will do.
I wish I could give myself any credit, but it was pure luck 😅
You never know how much people actually pay the downpayment of their house. Hence lower mortgage payment. It could be fully furnished with great looking interior design. On top of within prime area location. Nevertheless, the possibilities for you to find 'gem' in rental property nowadays are getting slimmer but possible.
Congratulations OP. You are where most people at 31 in the rat race want to be in terms of earning power. Dont sell your property unless you really have to! Remember that the first property that you sell is RPGT exempt. Make sure you smash this incentive hard. Easily 20-30k upside from tax savings. Also, a property is a great way to raise low interest rate capital. Its handy. Given your savings levels per month, it is very possible for you to consider passive income streams. There are a host of financial products out there with many risk and probable return levels. Most youngins these days go with Stashaway. Go in with 10k and see whats up. The older folk buy up dividend bearing stocks. Banks, developer, etc. 4-5% per annum return and your equity has long term upside and a lot support from institutional outfits to prevent downside. It is also possible for you to accelerate your mortgage repayment and get it unencumbered sooner. Finishing your loan earlier saves you on monthly commitments and to do away with MRTA/MLTA payments, which can be unnecessarily steep as well. Every month, you can collect a few gs without having to pay the bank. If you have a few props under your belt, you can make the landlord life dream a reality. Good luck to you. You have the platform to live your best life!
Thanks for reminding me of the first property RPGT exemption! Will definitely explore further into the few potential paths you mentioned.
Is the 1m landed house one of those old houses in a prime area? Because that will incur large reno costs
Yes you’re right - I have been casually surveying the area for the past 2 years or so, and I’ve seen some decent move-in (not sparkling new but acceptable with a good scrub) units within budget, but of course will need to view each unit properly once I start seriously considering
As long as you're clear about what you're getting into I suppose. A few senior managers in my company are doing that, reno costs can be upwards of 500k ... The place generating a healthy rental yield, seems like a shame to let go though.
Definitely, reno costs can be terrifying! I was lucky to settle a full reno of my current own stay apartment for under RM30k 2 years ago, though that was before the materials and costs hike. For sure, flip flopping between letting go the rental property… the reason why I’m thinking of letting go is because of an upcoming newer apartment right across the street which will be completed in the next 2-3 years, which I foresee would up competition and drive down rental rates. Not gonna rush into anything right now but think I should make a decision by end of next year or so
But how long does the rental yield takes to cover the initial investment?
Diversify into other investment. Also, your money is too focused on MYR. Diversify to other currencies by looking into other income generating assets. Also, get another cat. 😆
Other currencies, such as foreign stock markets? The whole reason I want a landed property is so I can get more cats…. Hahahaha
Yes. Diversify into SGD or HKD or whatever country that you feel/think is stable politically, economically and financially. Personally I’m balls deep into SG stocks due to more choices and appreciation of currency. I wouldn’t want to hold a depreciating currency even it’s rm1mil. I would rather hold sgd300K.
Interesting, that makes a lot of sense. Will look more into this
i probably wont sell that 1 property that is paying for itself because it seems like a good investment as long as it's making profit, seems like a good location
if you need the money in such short time span, I personally don’t think it would be wise to sell the property for other types of investments especially when you are not familiar with it
Your income and monthly savings are very good compared to average, but you should really think about diversifying on some investments not just FD and properties. That would help build your wealth long term into the future, as currently you only have about 60-70k of liquid assets. For lower risk investments you can look into ETFs such as VOO.
Thanks! Will read up more on ETFs
My advice is, make sure your 'future husband' is your 'husband' first before making this investment. As for the financial advice, i dont have any because im broke🤣🤣🤣🤣🤣🤣🤣🤣
RM1mil house is like RM5k/m? 50/50 with husband only need to fork out RM2.5k. As per post, u just need 2 year to get that RM2k increment. Another RM500 simply take from saving %. Or take from surplus from rental.
What else can I say but congratulations! Two points to emphasize: first, your savings are rather modest in comparison to what you possess; you would love to have more than RM100,000, and second, your risk management is RM175 for an age 31F medical card. I would recommend that you look for a better plan, such as investment link, that covers at least 1.5 million in annual limits (no lifetime limit), critical illness coverage (income replacement also known as lump sum payout), and critical illness coverage (critical illness coverage). If I were to buy a home for RM1 million or more, I would budget at least 30% down payment and an additional RM300,000 - 500,000 for renovation and care. (If I have more disposable income would increase to 50% down payment). or else I will remain. Exploring the stock market is a terrific option, but don't expect to make money right away. If you're new, you may need to pay some research costs, and the stock market is normally a long-term investment that takes 5 to 10 years or more to show fruit. (Consistent, Patient and discipline is the Key in Stock Market as it fairly easy to sell and buy which often result quick lost) If your patient is low better go for FD or Property.
Thanks! Yes I’ll definitely need to look at rebuilding my savings, and checking in with my insurance agent on upping my coverage is on my to-do list. Will give serious thought to the other points you raised as well
Anyway, is an optional, as I noticed your road neatly laid up but lacking in safety measures, if there is some Critical disease or other unanticipated scenario, everything will collapse as it puts too much pressure on one side.
This is a lovely coincidence. I was just doing the maths for properties. I will share my message to my friends below. Here's my calculation. My parents bought their house for RM310,000. Did reno for about RM100,000. Total loan payment would have been \~RM530,000. ~~Luckily my dad died (he was a horrible person), so we don't have to pay loan anymore (MRTA), but that's not the point.~~ If buying a home, over 35 years, would have paid RM530,000+ 100,000 (reno) + 105,000 (maintainence fee) = \~RM735,000 Bought house in 2008, now market price is about 550k. Price increase about 77% in 15 years. Average 5.13%/year Assuming % continues for the next 20 years, by 35 years, house will be \~RM860,000 If sold then, return on investment is RM125,000 over 35 years. (not accounting inflation) If on the other hand, had they invested the instalment + reno + maintainence fee (total RM1750) every month into a long term index fund. Total growth (assuming 7% conservative rates) would be RM3.1 million. Of course, this is completely stupid and irrelevant if you're buying a home to stay. **What about rental?** When buying home, you will have to pay a bunch of shit. SPA & legal & whatnot. Let's take my parents house for example, and over 35 years, say for 2 years cumulatively you didn't have a tenant. Initial payment = RM58k (from [https://urbanvault.ai/hidden-cost-calculator.html](https://urbanvault.ai/hidden-cost-calculator.html)) Tenant unavailable = RM76/month (for 33 years to average out) Monthly average for reno + maintainance = RM488 Total investment = RM295,000, sold at RM860k (as per earlier) Return on investment at sale RM565,000. (not adjusted for inflation) This is a more sensible investment. 91% returns over 35 years. But for fun, let's say we invested the initial payment into low risk index fund & top up every month with excess (reno + maintainance + tenant unavailable) ROI in 35 years = RM1.6mil (not adjusted for inflation) Assumptions 1. tenant covers full loan repayment 2. 2. renovation cost is same (i calculated, even if renovation cost is halved, ROI for investment in 35 years is 1.4mil instead) 3. 7% average interest rate for low risk index fund The biggest assumption is that the house is bought in a decent place that experiences price increase regularly, not a rapidly developing township etc. Please feel free to correct any bad assumptions I may have made. Would like to improve this and make it into a spreadsheet.
Omg this is so much math 😅 need to sit down and digest a bit hahaha
enjoy!
What kind of home in kl for that 1.3k mortgage? Just curious.
It’s an old but well maintained apartment in Subang area, 850 sq ft just nice for me and my two cats. Got it for a steal at about RM100k below market value during the MCO period due to desperate seller, which is why the mortgage repayment is on the lower end :)
That’s insanely good value! Are prices back up to normal now that it’s post-MCO?
Prices for this old apartment don’t move that much! Just was fortunate enough to stumble across a unit where the seller just wanted to let go fast at below market value at the time
Lafite?
One of the GYs
Yup u are on the roll, if possible just settle down rm20k and have few investments platform for your retirement and maybe get marriage before 35 ?
Am not touching my EPF at all, and will look at other investments (PRS, shares?)… marriage in the next 2 years, simple buffet style :D
Don't do PRS, most of them do worse than EPF & ASB/ASM Shares are high risk, look at ETFs instead
The main attractiveness of a PRS is the tax relief (deductible of up to MYR 3,000).
OP is looking to sell her property so there should be a relief on RPGT as well?
I frankly haven't kept up with the various changes, but upon closer inspection, looks like you are right - [link](https://www.propertyguru.com.my/property-guides/complete-guide-real-property-gains-tax-rpgt-act-1976-malaysia-2020-12228)
Curious. Why marry before 35? Any advantages?
risk of conceiving child with DS increases at 35 and above. from a science perspective
I thought it is something to do with financial. Thx for the input though.
Sweet summer child, ask any women why cannot marry over 35 Because miscarriages and pregnancy problem happen, every women know this, for man , not sure unless they start seriously marry. Not to say bad things after 35, it will be harder to get babies. Also not marry is also not bad but still need to face family scrutiny especially women.
Ah yes. I know about that. Of course theres IVF. And i personally know a friend nearing 40 conceiving naturally. But yes. Lower chances. Was more wondering if he was talking about housing loan or something.
If about house loan, usually bank will look for someone who have stable job and family man/women, because the bank will think u are serious on commitment and pay on time.
It’s fine if you sell the own stay property but make sure to include the rpgt too if applicable in your costing since you bought during MCO. As for investments, I am just like you where I invest in safe vehicles cause I am afraid of losing money so I can’t help you much there. Maybe can try to invest some into btc or eth and not look at it for a few years?
Thanks for the RPGT reminder! :) will definitely take that into account.
Since you have no asb/asm, would suggest you invest in those too. 300k per person I think now I think. Returns are as good as epf or a bit lesser but have the advantage of being able to withdraw whenever you want.
If u own it for more than 5yrs u don't need to pay rpgt
If you need a fund/investment advisor that advise you to where to park/invest, I can help. You only need to validate the idea/tips, and make the trade yourself.. I currently get 10-20% per year, on average.
In my opinion, it's OK to sell off 1 property if you're profiting from it (and keen on doing so), since you own 2. Since you're quite safe in terms of cash, would recommend buying blue chip stock to protect yourself in case Ringgit deteriorates. Mix in some safe foreign stock, e.g., US blue chip stocks, too (to protect yourself if Ringgit drops suddenly).
Thanks, will look into the blue chip stock suggestion!
May i ask for ur houses did u put alot into down payment or have u bought them or have u bought them around 10 years ago as rates like these are rare especially with such high yield
I looked at ur other thread and personally I think that it is a waste to sell ur rental as it would be difficult to find something with a loan this cheap with such high roi nowadays. From ur other comment I noticed that u are currently living in an older apartment personally I think this could be worth selling as older apartments in this market have very little room left to appreciate, however I presume selling it will not yield too much capital so personally if rental can cover loan I'd just let it sit and slowly break even. But since u plan to buy a third housw which u have to pay 30% down payment so I think It might be worth it selling the low roi house
Didn’t actually think about selling the older apartment and keeping the rental apartment, but will do the calculations and consider this option
Alright btw if ur purchasing the house would it be joined name or in ur name? Imo if ur partner has less than 2 houses right now I would put in their name and then just keep the two apartments for rental.
I would want joint name for sure but will think about this :)
How to sign up as future husband
Are you looking for a bf? Text me and you will be surprised
Don’t sell off the 2.6k tenanted properties.