Comments on: Assets Class under Property

By: CKWong

CKWong — Wed, 16 Dec 2009 09:37:39 +0000

Hi,
If you purposely setup a company to run your properties I dont think its worth it. Unless all of your 4 properties is collecting 5 digit rental per month otherwise please remain under individual names. Bear in mind, to maintain a S/B annually might easily cost you RM3K-RM5K per year. So better don’t touch it until your portfolio is receiving rental more than RM20k-RM50K per month. Happy Investing.

You cannot Grow Land.. CK Wong & My Dad

By: KY

KY — Wed, 16 Dec 2009 08:08:09 +0000

Hi, I read that for income tax reasons i.e. to qualify as business income, we should set a goal to achieve 4 rental properties. Presently, I own 2 properties on my own, 1 property joint name with my wife and my wife had 1 property on her own. In order to turn the 4 properties into a business, do we need to set up a company and transfer the properties into the company?

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By: CKWong

CKWong — Thu, 08 Oct 2009 06:31:13 +0000

Hi Jamie,
There is no short cut. You can ask your parent to be your guarantor. Once you recieved your rental make sure you bank into your saving account before use it to repay your loans. You are very lucky knowing how and where to start at young ages whereby alot of them still sleeping. Happy Investing.

You cannot Grow Land..CK Wong & KH Wong

By: Jamie

Jamie — Thu, 08 Oct 2009 05:47:55 +0000

Can I know how you convince the bank to lend you the money when you first started??or you use your own savings? You started quite young too and I don’t want to waste my time either (but of course i won’t rush into anything without proper understanding)…perhaps i can ask my parents to act as my guarantor or find a partner that is already working,anyway i believe there will be a way for me and i will find it.
Thanks for replying. Have a nice day!

By: CKWong

CKWong — Tue, 06 Oct 2009 11:05:24 +0000

HI Jamie,
That is the whole idea. Getting rental to offset your repayment to the bank. Anyway if you purchase condo/apartment how are you going to prove your earning capability since you are student now? Anyway its a good problem. Time is your best friend now. Happy Investing.

You cannot Grow Land..CK Wong & KH Wong

By: Jamie

Jamie — Tue, 06 Oct 2009 07:16:11 +0000

Hi, I have my eyes on a condo unit very very near to a private uni and is in a strategic location. i predict the demand for it will increase. rent is about rm500-600 per month and tat s just for a room (there’s 3 rooms in a unit). Thing is, I am a beginner in this property thing. I will graduate half year later and already started invest in unit trust (stock market is next,am studying the market first now). So if I borrow from bank to purchase a condo unit (as interest is low) then i rent it out, is it a good thing??i can use the rent to cover the loan every month right?
Anyway, nice blog! have a nice day!