Asked by Anonymous
Am planning to JV with a guy friend to buy a property (2nd) for both of us. The property is of value below RM260K (under construction property) and it takes 4 years to complete. Purpose on this JV is for profit purpose. Each person will be taking the loan 50-50 and the SPA with both names in it. Reason for joining names is because will have commitment of RM130K each instead of 260K each. Do one have such experience before joint venture girl and guy friend (basic friend).
My only concern is, any precautionary measure to take i.e. if other party not servicing the loan, will my CCRIS be affected ? Does one need to buy insurance during the construction period ?
My only concern is, any precautionary measure to take i.e. if other party not servicing the loan, will my CCRIS be affected ? Does one need to buy insurance during the construction period ?
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