Posted by shortinvestor77 > 2018-11-10 12:46 | Report Abuse

Don't lie. All need government regulators especially Bank Negara to approve as long as it involves money collection.

Posted by shortinvestor77 > 2018-11-10 12:50 | Report Abuse

regardless of public or institutions investment. Big liar.

Posted by ks55 > 2018-11-10 16:19 | Report Abuse

What is wrong is wrong.
Morally wrong.

You cannot right a wrong no matter how many times you want to explain.

Why not put this way:
I have done no wrong under existing law.
I don't care if poor buyers will suffer in 5 years' time.
That is their problem not to read small print as they stand to lose big in the event if they cannot top up 20% due from them.

Posted by qqq3 > 2018-11-10 16:23 | Report Abuse

ks...5 years still little bit savings also don't have....no one can help lo.....

people say God only help those who help themselves......

Posted by ks55 > 2018-11-10 16:26 | Report Abuse

So you mean serve them right for not doing their due diligence?

If they are so good, they need not rely on Tong to provide them blood sucking loan .....

Posted by ks55 > 2018-11-10 16:29 | Report Abuse

This scheme is only to safeguard the interest of fund provider (so-called investors).

House buyers whether they will die or not after 5 years is immaterial to Tong Sampah.....

Posted by feimah > 2018-11-10 16:32 | Report Abuse

There could be a lock in period for investor. The scheme design that way to make it slightly better than bank FD but buyer bear most of the risk and developers takes all the benefits

Posted by i3gambler > 2018-11-11 12:30 | Report Abuse

Look at FundMyHome from another angle.

Example,
One young man has 60K in bank earning 4.5% interest,
He wants to rent an apartment for 5 years, say 600 per month + costs,
He will withdraw money from bank for the rental,
5 years later, his bank balance will be 35K.

Now, he find one in FundMyHome, price is 300K,
He needs to pay 60K and can enjoy 5 years accommodation,
For some reason, he confirm that he does not want the apartment 5 years later,
So he could get back more than 60K, or less than that, or get back nothing.

He is kind of person that does not like uncertainty,
He walks into the developer office,
he propose to the boss,
Can they sign another / additional agreement,
Regardless what will be the market value 5 years later,
He just wants to get back 45K, let the developer earn more with some risk.
That 45K is already greater than the bank balance if he rents apartment some where else.

Now, I ask you people,

Will the developer agreeable to his request?

My opinion is:

No developer will agree to this additional agreement, the reason is simple, that apartment is not worth 300K now, and most probably the buyer will not get back 45K.

If there is any developer or anybody else agree to pay you 45K and take the risk on behalf of you, quickly take up the scheme.

Posted by qqq3 > 2018-11-11 12:36 | Report Abuse

in your dream world , a $ 300 k apartment u can rent for $600.

Posted by qqq3 > 2018-11-11 12:38 | Report Abuse

in a stable environment.....the 20% paid is fully recoverable....and so 5 years, no rentals, no installments, no interest costs.......

Posted by qqq3 > 2018-11-11 12:39 | Report Abuse

https://klse.i3investor.com/blogs/qqq3/181848.jsp

Posted by i3gambler > 2018-11-11 16:02 | Report Abuse

qqq3, I said the 600 is excluding maintenance fees and etc, so that I can compare with the FundMyHome scheme.

That is not the main point, my main point is I believe there is nobody want to pay you 45K at the end of the 5 years, to take over the opportunity / risk from you.

He could make money if eventually the valuation of the house is more than 285K (Investor take 240K, and 45K go to Buyer)

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

ks55 > Nov 10, 2018 04:26 PM | Report Abuse

So you mean serve them right for not doing their due diligence?
========

what I saying is 5 years cannot save up a bit of money,,, cannot improve their credit scores.....no one can help them.

Posted by qqq3 > 2018-11-11 16:15 | Report Abuse

what the government can do is to provide a regulated platform...where things are transparent, where there are no frauds, no counter party risks, .....other than that...it is as always caveat emptor.....and this is a good platform...an innovative idea that addresses the issues......

Posted by qqq3 > 2018-11-11 16:17 | Report Abuse

market based solution.....isn't this what voters want? a market based solution.......more choices, more options to consumers.

Posted by speakup > 2018-11-12 09:35 | Report Abuse

https://www.businessinsider.my/malaysians-interest-in-11-11-singles-day-sales-is-skyrocketing-here-are-the-types-of-promotions-on-every-top-online-shopping-site/
malaysians always say no money (can't afford house blah blah blah), but suddenly got plenty money to shopping?

Posted by qqq3 > 2018-11-12 09:36 | Report Abuse

more fundmyhomes more spending power.......

Posted by speakup > 2018-11-12 09:38 | Report Abuse

complain no money buy house, but got money buy Honda Toyota Iphone. WTF! all tipu one

Posted by speakup > 2018-11-12 09:39 | Report Abuse

https://www.malaysiakini.com/news/451427
"show backside" man Ali Tinju now a Bersatu member! WTF!