Fund My Home , Government Authorized Money Game?

Posted by 蔡发达 > 2018-11-15 17:59 | Report Abuse

Hi All, I am starting this because I have a questionsk that buffering me. I tried to search for an answer from FundMyHome website, but it seems the website is like all other commercial website, where no full details provided (only show you the good thing). Assumption: House price 300k. Buyers need to come out with 60k (the fund is put aside for interest), Investor come out with 80%, Developer only collect 80% of the selling price, remaining will be collect in 5 years time. Now, the scenario is after 5 years, let assume the house price is flat (remaining 300k), so the question now is: 1) The purchase price is 300k, so logically buyer needs to get a loan of 300k right? I am questioning this because the 60k is for interest, so the investors will take it and 80% of their investment. Lets not forget the developer also need to take back their 20%. So this means that buyers still facing hard time to buy the house right, because the monthly installment buyer need to pay is RM 1250 , plus buyer need to pay for maintenance fees and others, so easily an extra of 300 - 400 per month. 2) After 5 years, when buyers can afford to buy the house, need to pay lawyers fees and MoT again? I am not smart enough to understand, hopefully someone can help....

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20 comment(s). Last comment by davidkkw79 2018-12-08 03:10

qqq3

13,202 posts

Posted by qqq3 > 2018-11-15 18:14 | Report Abuse

assuming house price is flat is easiest.....the owner is given first option to convert to traditional mortgage with 80% loan ( 20% already paid by him 5 years ago).....that means take over from the investors.

if house price is flat....developer only gets 80% of the price, investors gets 20% as income for 5 years holdings.

KillBuffett

349 posts

Posted by KillBuffett > 2018-11-15 19:48 | Report Abuse

Sure moh? Developer got so good meh,,,,20 % leh,,,don't want? 1 unit 60k, if 300 units,,,the 1.8 million joh..Developer sure find a way to earn back if like that, so the housing price will increase lah

qqq3

13,202 posts

Posted by qqq3 > 2018-11-15 19:51 | Report Abuse

that's what the terms are....some more regulated market......

qqq3

13,202 posts

Posted by qqq3 > 2018-11-15 19:54 | Report Abuse

developer only get back full 100% selling price if property goes up by 20% after 5 years.

KillBuffett

349 posts

Posted by KillBuffett > 2018-11-15 20:12 | Report Abuse

If so, then this will be caused property price increase, and developers will make more money. Businesses will make sure they earn what they want 1st, then if later price increase 20%, then they earn more.

Without this program, the market price is300, so in order to block profit, then the selling price is 360 loh. If later the price increase 20% sharp, then buyers become sohai already

qqq3

13,202 posts

Posted by qqq3 > 2018-11-15 20:24 | Report Abuse

borrow 20% personal loan....easier than borrow 90%.....participating banks can lend u one.......

qqq3

13,202 posts

Posted by qqq3 > 2018-11-15 20:26 | Report Abuse

can borrow 20% and charge your share to the bank la......funding/ borrowing no problem at all.

qqq3

13,202 posts

Posted by qqq3 > 2018-11-15 20:27 | Report Abuse

bufett..the scheme is fair to all stakeholders.

qqq3

13,202 posts

Posted by qqq3 > 2018-11-15 20:28 | Report Abuse

they say no free lunch....but got free stay for 5 years, think 3 think 4.

qqq3

13,202 posts

Posted by qqq3 > 2018-11-15 20:35 | Report Abuse

and if price go up after 5 years...the owner to pay a bit more in mortgage.....no sweat,....he already enjoyed free use for 5 years....

without this scheme, he probably also cannot buy at present price....and no free stay.

KillBuffett

349 posts

Posted by KillBuffett > 2018-11-15 20:51 | Report Abuse

Developers sure increase the selling price lah. Average profit is 50% for a whole project, provided developers sold all units and no delay. So if the 20% is not certain, do you think developers will do nothing？　

Besides, for those who can afford, sure losing side. What I see is: Developers sure winner, Investors (bank) second winner...

I really don't understand what you call fair here?

lizi

1,968 posts

Posted by lizi > 2018-11-15 21:02 | Report Abuse

aiyoyo....encourage b40 borrow along ka....aiyoo..believe me, this is not the right to build your first bucket of gold...

Posted by qqq3 > Nov 15, 2018 08:24 PM | Report Abuse

borrow 20% personal loan....easier than borrow 90%.....participating banks can lend u one.......

qqq3

13,202 posts

Posted by qqq3 > 2018-11-15 21:07 | Report Abuse

lizi...cash flow...learn from Rich Dad...cash flow is the start of pot of gold...this scheme very good for cash flow of young families.

qqq3

13,202 posts

Posted by qqq3 > 2018-11-15 21:08 | Report Abuse

bufett...its win win win....only a genius can do it....

lizi

1,968 posts

Posted by lizi > 2018-11-15 21:10 | Report Abuse

how much is the cash flow...aiyoyo.....peanut cash flow can do what oh? those peanuts cash flow will go to entertainment and spending...believe me...

KillBuffett

349 posts

Posted by KillBuffett > 2018-11-15 22:07 | Report Abuse

Malaysia all of the sudden alot genius come out...

qqq3

13,202 posts

Posted by qqq3 > 2018-11-15 22:17 | Report Abuse

d by KillBuffett > Nov 15, 2018 10:07 PM | Report Abuse

Malaysia all of the sudden alot genius come out...
=============

good sign

qqq3

13,202 posts

Posted by qqq3 > 2018-11-16 10:47 | Report Abuse

Harapan coins....worth exploring

qqq3

13,202 posts

Posted by qqq3 > 2018-11-16 12:09 | Report Abuse

good explanation

https://www.thestar.com.my/business/business-news/2018/11/16/crowdfunding-platform-to-cater-for-some-homebuyers/

what went wrong is not the product....but misunderstandings and expectations.

history shows a lot of good products can be killed by misunderstandings and wrong expectations.

general public not very smart one........critics not very smart one.

davidkkw79

5,068 posts

Posted by davidkkw79 > 2018-12-08 03:10 | Report Abuse

Mari mari to cari wang

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