Traditional Propping

Conventional formwork proppring system is different from the system formwork.

The above photo is the conventional propping method. The typical erection with a contraint of a limitation of height of propping from the supporting base to the top.

A horizontal 2"x3" timber is supporting the span in the required interval of spacing of 2 feet or more, depend on the beam size and height.

Two diagional branch supports are firmly nailed to connect the horizontal 2"x3" support and vertical 2"x3" strut. The centre 1"x2" is forming the T- propping.

The magic portion is the wedges slot in between the both sides of the beam to prevent the beam bulging and secure the bottom size of beam.

Things need to be taken note here are the width of the beam must carefully take into the consideration as the prefabrication of the propping size must be firmly fix to secure the bottom of beam.

The second thing is the height of the beam must be approximately 8-12 feet, as if higher beam shall replace the propping either scaffolding or closer spacing of prop.

This kind of conventional propping is normally used in the normal housing project as the floor to floor height is consistent and about 8-12 feets height only.

Besides the cost of timber is cheaper than other system formwork, the portable size of light propping is another encourage point.

Wondering can this kind of timber propping material to replace by those steel support as the durability and recycling times are soon to be one of the important factor to be consider.

Timber formwork will be obsolete while cost of the steel form comparatively go lower than timber.

Build Your Strong Base

“I think new property investors should focus on growing their property investment portfolio to a size where they meet their short and mid-term goals.

They have to reach a stage where their investment capital is sufficiently large before they can shorten the timeframe needed to attain their long-term goals.” quoted from Renesial Leong.

I agree with her. Beginning is always tough and difficult! Face it, reap the sweet result at the end when you grow bigger.

Conditional Redrawal- Loan

Whenever you see the REDRAW facility stated in the loan packages, try to ask few questions to the banker to clarify certain thing as it may vary from one to another.

1. How many time of redrawal is allow?
For instance, Public Bank got one loan package which only allow 1 withdrawal per annual.

2. Charge of Redrawal.
Friends, Nothing is free, all administration work will not be free. It imposed certain charge on every redraw! It could be Rm 50 per withdrawal.

3. Limitation of Withdraw Amount
Don't think you can withdraw whatever amount as you like and don't be too naive to tell, because there is your money. No way, since you sign the loan agreement you are bond to it. Understand the amount for withdraw is allow, eg. Public Bank allow minimum Rm 5k per withdraw and subsequent multiple of Rm 1k. So in other word, if your advance payment is only RM 4,500. Then, sorry you don't allow to withdraw that portion of money.

4. Notice of Redraw
Recently, i found Citibank offer a very attractive package as their loan product can allow for whatever amount of withdrawal (advance payment) without any notice and charge. Usually, for those who required to withdraw money are used for emergency, what if you still need to serve 1 week notice or more. It is killing off, right?

5. Commencement of Redraw Facility
Most of the borrowers thought that the redraw facility is implemented upon the signing of loan agreement. Here, to advise you again to read carefully on the book thick agreement note or ask the banker if it is not clear.
For completed property, it should be no problem, but for under construction property, it is always a risk or wrong interpretation that the redraw facility is upon signing of loan agreement. Most of the bank only allow withdrawal upon full release of loan, as for them to earn back their targetted profit because usually they offer a very low interest under construction stage.

Understand better on what you have signed can lead you to a safer position.

Redraw Facility - Loan

In current market, most of the home loan packages are offering REDRAW facility. It is a good for borrowers as they can put in their extra money to offset the loan interest and principle to shorten the loan tenure, and in other sides, it also facilitates the withdrawal of any extra payment once the borrower need some money for emergency or any.

Here, what i would like to highlight is that, Loan Agreements are varied from banks to banks and the clauses insides have to be read through thoroughly, at least once. It will give you a better picture of how the condition and the facilities apply. Get banker to explain if you have any doubt, as this is their duty to explain any question raise under the agreement.

For under construction property, some of the banks allow for Prepayment and gives daily rest interest facility. However, it imposes a condition that NO WITHDRAW until fully release of loan. Take Note on this points, under construction period is about 24 months or 36 months, as this period no withdraw is allowed. To prevent any cash flow problem within this period, do spare some money on hand as to avoid the misinterpretation of REDRAW facility given.!!