For non-conventional methods, try hitting the same bank over and over again, you will get preference treatment especially when negotiating early settlement penalties.

If you are confident of a deal and your credit with bankers are up to the max, there are always other institutions others than bankers!

Tenancy agreement is not optional is a must!

Use a fat loaded up guarantor as a last resort…

Hohoho .. good luck people!

You cannot Grow Land..CK Wong & MY DAD

Good Day.

Please advise me if my name appear on CTOS report. What should i need to do? Once all debt are settled, my record will declare? Where i can get my personal credit report during i working at oversea?

Last time, my bro use my name to get the car loan, end now the car under for auction. The balance still haven’t settle, so what should need to do?

Currently, i still at W.A. Should need come back to settle the problem by self?

Regards,
Xin

You cannot Grow Land.. Ck Wong & KH Wong

i’ve invested in a total of 3 properties so far (2 residential and 1 shop lot), and has seen a reasonable cashflow from it… while i am looking for another property to invest, i received a kind advice from one of my best friend, who himself is a very successful, seasoned investor (who had owned many properties both local and abroad..and is a selfmade multimillionairre)

here are his piece of advice and it would be very nive if i could also get a second opinion from you on his advice:

here we go:

I would like to give you some free advice on investing in to real estate at this time of the world economies.
Only last week i read a report on global real estate market and i am in big shock what is about
to come in the next one to two years to the Real estate Market globally.
As you probably know the residential Housing market in usa, england, Germany Russia is in a free fall.
same areas have entire city section under power of sale people just leaving there house and let bank or government take it.
Price have fallen as much as 60% in some areas of the world. ( take a house some one paid 500k 2 years ago now selling for 200k and nobody buying)
Now here is my future view of the next shoe to drop it is the commercial real estate market.
Vacancies rates in Russia 63 % Singapore 34% America 30 to 40 % Germany 25% and the list goes on.
So far Canada Malaysia not affected at all but it will be only a matter of time before things cross the borders and every one will be infected.
Today could be the start of a global sell of in stock market lead by Asia in china stocks drop 6% in one day
This could last till the fall September October time frame are the worst times for stock market and always have the big drops in history.
A drop in Commercial property price will be followed by a another wave of Bank closures and Bankruptcy and businesses around the world.
Investing is somewhat like Fishing one needs to be patient and willing to wait for the right time and place to act.
A statement by Warren Buffet the worlds great investor ( one should be buying when the masses are selling and be carefully when every on is lining up to buy)
From what i know Real estate has jumped a lot in the last few years in Malaysia every one jumping on the wagon to make quick money.
History has shown this type of behavior is very dangerous and usual a sell of in the market no matter what area or country real estate is a commodity
and can go just as quick down as up and always has in the past.
Buying a property with only 10% down is very risky and just a small 10% drop will result a total loss of your investment.
The best time to buy is when power of sales are high people are walking away from there property and taking
loss and every one talks bad about real estate investing like it is a bad thing.
My first house in Canada i buy with $ 3000 down and the seller financing for me he so happy i take the house from him
i buy for 47 k and sell 18 month later 88 k he take a loss i make a nice profit on my investment in short time.
At the time i did not know what i was doing but years later i realized how perfect my timing was buying when every on was scarred and sell for loss.
I did the same with the house on Winona 4 p lex i sold last year, when i bought it was on the market for 5 years from 1992 till 1997 asking 380 k at first
after 5 years the slowly drop the price to 240k and i end up buying for 235k.
The moral of the story is human are guided by great and fear and have there emotion make decisions for them on investing is always the wrong thing to do.
Take a moment and think and think some more before you but down your hard earned money

You cannot Grow Land.. Ck Wong & KH Wong

You cannot Grow Land.. Ck Wong & KH Wong