Asked by Anonymous
Hi there, I am a Malaysian working in the US exploring buying a property in Malaysia for investing purpose and plan of moving back in the future.
Question 1 - Is it possible for me to get a loan?
I do not have any credit history in Malaysia. No credit card, no loan, nothing. My credit score in the US is very good, but I am not sure if that is applicable in Malaysia or not.
I am currently making USD10k (RM41k) gross, and net is around RM38k. The only debt is my car, which is USD500/month or RM2.1k/month.
My max budget for down payment, renovation and etc is around RM500,000, which should translate to RM2.5m budget if I am planning for a 20% down payment.
Question 2 - How to find someone to manage our properties?
It will be challenging for us to manage our properties in Malaysia. Other than the obvious distance issue, time zone is also a big problem. Are there people who can manage our property (renting it out, taking care of issues, etc.) and take a cut from the rent? What are these people called? Google doesn't seem to help me answer this...
Question 3 - How to research the rental market?
I might be missing something here, but it seems to be extremely challenging for me to research the rental market in Malaysia like how much I can expect the rent to be, how fast I can rent it out, etc.
This will help me decide if I should split my budget into multiple houses instead of buying a RM2.5m house, which might be hard to rent out.
Question 4 - Hidden costs
In US, there are a lot of hidden costs of owning a property like HOA fee (due monthly), property tax (due annually), and maintenance. Are there any hidden costs I should be aware of?
Question 1 - Is it possible for me to get a loan?
I do not have any credit history in Malaysia. No credit card, no loan, nothing. My credit score in the US is very good, but I am not sure if that is applicable in Malaysia or not.
I am currently making USD10k (RM41k) gross, and net is around RM38k. The only debt is my car, which is USD500/month or RM2.1k/month.
My max budget for down payment, renovation and etc is around RM500,000, which should translate to RM2.5m budget if I am planning for a 20% down payment.
Question 2 - How to find someone to manage our properties?
It will be challenging for us to manage our properties in Malaysia. Other than the obvious distance issue, time zone is also a big problem. Are there people who can manage our property (renting it out, taking care of issues, etc.) and take a cut from the rent? What are these people called? Google doesn't seem to help me answer this...
Question 3 - How to research the rental market?
I might be missing something here, but it seems to be extremely challenging for me to research the rental market in Malaysia like how much I can expect the rent to be, how fast I can rent it out, etc.
This will help me decide if I should split my budget into multiple houses instead of buying a RM2.5m house, which might be hard to rent out.
Question 4 - Hidden costs
In US, there are a lot of hidden costs of owning a property like HOA fee (due monthly), property tax (due annually), and maintenance. Are there any hidden costs I should be aware of?
97 views