blue ship should be ok, but it takes very very long years baru see the fruits.... thou properties took like 5-10y at least too but still i can stay in properties but i can't do anything to the bluechip

currently targeting those 150k apartment so if anything goes wrong it wont harm my wallet

Not many choices within this range in Klang Valley...Mentari court or Miharja Apartments?

Backkom, .
u r very good, care to give me more tip why there are good or not worthy? 1 thing puzzled me which is, y ppl wanna sell their chicken which lay golden egg?

Because they want to get back their capital to buy kambing or cow which give better return?

Haha... very good point!
Or people sell for various reasons - bigger house for own stay, wedding, children... or some bad reasons such as break up, divorce...

maybe when they bought, they only bought a little egg. then egg become little chick, and chick become big chicken. owner has eaten enough eggs, so when festival comes, time to slaughter the big fat chicken for big meal

This thread is turning kopitiam-ish, but i like!
Haha everyone's investment goals is different after all, it all depends on the individual's risk appetite, philosophy, expected returns, etc.

Dear All,

Any condo recommended at Kepong/Jln Ipoh, Jln Kuching
FOr rental 1st, and slowly convert to own stay after 5 years.

Budget RM300K

Sri Putramas? Think still can get something in Sri Putramas 1 below 300k?

Corerct me if im wrong

Sri Putramas 1 is the 1st phase
Sri Putramas 2 is the 2nd (2nd hand selling RM350K)
and the new Sri Putramas 3 is selling RM400K and above?

Does that area really worth the price?
As the 1st 5 years i will be renting out before own stay.
Also heard the quality of Sri putramas 1 is the lowest.

You pay peanuts, you get monkeys.
You have to decide how to balance among price-quality-location. Only you yourself can tell whether it's worth it or not.

You asked for something along Jln Kuching below 300k, I provided my suggestion.
Personally I think 300k is too low to get anything decent these days (especially if Sri Putramas 1 is low quality for you). Even leasehold condo in deep deep Puchong costs more than 300k.

You should do your homework, shortlist several properties that you think are worth buying, and bring it to the forum for feedback.

Dear All,

Someone please enlighten me if vendor financing exists in Malaysia?

This is how it works:
When you sell a property, you could:
This strategy is not well known, it involves breaking down the amount owing into a series of instalment repayments over an agreed time frame, instead of a lump sum cash payment. For example, you could take the RM100,000 property and sell it on the basis that you receive a RM10,000 deposits and the balance on vendor's terms, which might be 1300 weekly repayments (25 years) of RM173.86. If you're not paid out earlier, over the term of the contract you'll receive RM226018.

The fundamentas behind the sale are:
1) Your client has the beneficial ownership of the property. This allows him to rent or sell the property.
2) You retain legal ownersip because the title of the property remains in your name until the purchaser makes his.her final payent due under the contract.

Anyone heard this before?

It has been done before during the recession by developers but only for 1 or 2 yrs instalment for 10% deposit. I don't think anyone would go thro the trouble now (due to hot market), some more for 25 yrs cos it is very bad for cash flow (instead of receiving 100%of hse price in 2yrs, now stretch 25yrs) & purchaser might default on payment yet can't be evicted from the property - the spa will have to be very tight to protect the vendor yet will stil have to b involved in headache of legal eviction process. As ownership/title is in vendor's name, if the property appreciates, if i am the vendor, i might just ask purchaser to leave & sell the property at higher profit. Wonder if vendor can earn interest, might be disallowed by bankNegara. Very bad for both parties. But i'm keen to hear other side of story ..

This post has been edited by dripinrain: Mar 6 2011, 01:54 PM

No dripinrain,

it's win-win situation. Let me explain. For this to work, the purchaser must meet the following criteria:
1) He/she is capable of servicing the loan but didnt get approved by bank for mortgages
2) He/she is renting a house and looking to buy a new home. For example, graduates who has a decent income but no deposits etc.

Well, here is the way i help:
1) I purchase the property and have the title transferred to my name
2) Draft up vendor agreement, increase the property cost and interest rate to be changed to the purchaser. For example, i bought the property for 100k, variable loan at rate of 7% for 25 years. Now, on vendor's term, i sell for 130k, 2% additional rate for loan 25 years.

The purchaser win by:
1) getting a house
2) Own the house instead of paying rent.

I win by:
1) Higher cash flow every month.
2) If purchaser decide to cash in, i win by higher property price.

Subject to the following terms:
1)Puchaser has the beneficial ownershop of the property. THis allows him.her to rent the property or sell it.
2) I retain leagal ownership because title remains in my name until he/she makes his or her final repayment

Does it work here in malaysia?

Scout for good potential area. Know what is going to happen in that area soon.
Then enquire for the bank value for the property prices there.

Sometimes, the property prices will be below what the bank value them. You can then "mark up SPA" in order to borrow full loan. Thus, your bank approve 90% will be able to cover mostly everything (Property, agreement fees and misc)
Then rent them out

With the spare cash, continue to roll and roll.. Scout for good location.
Then repeat the same process again..

Of course 1 thing to consider is your current cash inflow, must be able to fit the requirements..
If a place is valued at 600k, but selling at 500k.. But your income does not even meets requirement for 500k.. Then too bad

Sounds easy eh? Haha.. But the hard part is to be able to get that property at good prices.

This post has been edited by Bonescythe: Mar 6 2011, 02:30 PM

Anyone?

any comment for me, i plan to invest at nusajaya!

szeki

It will not work in Malaysia, perhaps other country but definately not Malaysia.

First of all, your concept is good but to for 25 years of loan, who can gurantee the furture.

Secondly, your concept only "BEST" benefit the owner not the purchaser. Purchaser service the loan half way, lose his ability to pay, he default on your payment, breached the contract. He lose everything.

If your concept can work, I got 11 properties in hand to sell using your concept.. but who's willing to buy right ?

Last but not least,

1)Puchaser has the beneficial ownershop of the property. THis allows him.her to rent the property or sell it.

Purchase must have a PA from you as the owner for him to sell the property, and I'm not sure are you well versed with the law, just to share with you a PA can easily be challenge in court and worst scenario if you do a irrevokable PA to your purchaser, he or she can just sell the house without your consent at all and you don't get anything after he sell it which benefits the purchaser. As an owner, are you willing to do that ?

Your concept got too many loop holes in the legal matters, and don't tell me you're going to buy the property with cash as an owner then re-sell it through your methods ? If you have a bank loan on that property, you will definately need the bank's consent to empower it to another person which usually is likely to fail, plus without any empowerment of rights on that property, who's that stupid to buy from you over some contracts which can easily challenge in court ?

Think again ???

Just my 2 cents.

MeLz