Hi Guys,

I am a noob in property management, however, i would like to take my first investment in property.

After a brief research on property investment, i would like get your opinions (experts) on:

1) Is SOHO having a good rental rate? ROI?
2) What will you consider before your purchase a SOHO?
3) With limited budget , what properties will you invite beside from SOHO



SOHO = Small Office / House office

Best Regards,

u looking at the latest Scotts project @ Old Klang road?

imho, SOHO property would be a good investment if it's in a huge metropolis like London, Tokyo, New York, etc. Unless the property is situated in a very good location in KL (especially near commercial centres), i dun see any prospect in SOHO investment.

Is that mean it is not wise for me to invest to SOHO in malaysia? Do you have any recommendation for me with montly installment RM1500 allowed?



Thanks ya

He already stated the ideal location for SOHO would be in commercial areas like KL.

From what I know, SOHOs near mutiara damansara, and KL city center are good investments, and yields good rentals.

Currently, I don't think there is any completed SOHO out there in the market that we can use as a benchmark. Maybe Empire Subang within the next couple of months......

dont be greedy with 2% downpayment only.. later cant sell wo..
between anyone vested?

is soho really practical nowadays? i mean is there pool of professional really want to work at home and no need to go to office?
sorry, i am stucked with 8-5 working hour in a government office, so i cannot figure out how many of these kind of professionals or freelancers out there.

Yeah~~ That is what i am worrying now. Is SOHO popular for tenants...Is SOHO easy to sell..There is no a formal statistic to show the popularity of this type of property.

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Added on May 3, 2010, 1:22 pmMutiara Damansara..
Does it having any new development now?
what is the price range?


Thanks ya.





This post has been edited by infinite_tsk: May 3 2010, 01:22 PM

empire damansara last dec was good. now rm419k the one at old klang road 8xxsq feet face NPE. non furnish

The truth is - are there any market for SOHO entrepreneur?

In Malaysia - i'm a bit skeptical about the potential of SOHO.

with oversupply of Office space in Klang valley - why would anyone want a SOHO?

rent/buy small office outskirt KL , then rent/buy a house near that office..

Still cheap.

example - got a friend - bought a house in Equine park - paying about 7-800 per month.

Rent a floor 1st floor office - for 1k -1.5k in Putra Permai.

conclusion - unless - there's a SOHO market in malaysia - enlighten me where is the place, I would go out and check it out.

for now.. not a viable investment. (IMHO)

well..actually as i can see most of the soho now meant for entrepreneur or service oriented businesses. so is a viable option not just convenient but also save cost..
For employee..soho = work from home lor...

employee can work at home at link house or bigger condo also wat..

i was at iproperty exhibition in mid valley yesterday and i bought one as well...i think location wise is nice cause so near to mid valley...many chicks lolz......pric ewise...expensive loh rm330k for 700+++ feet soho only...but after 3 yrs only start pay instalment ok what lolz......

many chicks bought this condo or many chicks at the property fair?

he means many chicks in the property fair and also bought this property

yes bro both..... i saw one auntie bringing his daughter wow....damn hot wei....and there is this sales girl wow...damn hot... lolz...but seriously...i think this land is good to invest cause off the area.........

i have been to the property expo too and also very tempted for the soho but at the end i did not buy. The chicks are hot from the booth so it attract more ppl to find out their SOHO and their chicks.

daphyne hwee...one off the sales person.......hot chick wei.......lolz......i just hope soho scott will b good to invest...anyone else bought any unit...mine is block 2 22-16 ...

haha ok. did u buy the same floor?

i bought floor 22 tower b..... when i bought it there is this guy bought 9 same floor as mine...very keng much b big timers.......

beside the hot chick factors, is there any potential for scott soho actually?
i am thinking to book one but still doubt with the potential of soho in malaysia

kak ur even pro then us lah on buying property...i should ask u more lah......hehehe

how come when i when to the office at brickfields got one malay women and indian old man. so different. haha.

btw, i think its overpriced. wanted to go in at first phase

This post has been edited by airline: May 24 2010, 06:58 PM

anyone book this scott soho ?

no la.. Pai is taiko here

location wise, i like this project. jalan klang lama.. at the taman desa junction.
i think if they build regular serviced apartment, it is easier to judge whether to buy or not.

how much rental it can fetch ha?can anybody guess?

this is my first property also....kinda worried cause off so many ppl bought it...if nextime wanna sell off i think will b hard as well....hope those who bought it also can can some feed back


cheers

hi all,

planning to sell, 1 unit here. its possible to transfer name, so if any 1 interested, pls email at subby_1702@yahoo.com.
need to pay less than 2% as a downpayment as a discount and this can be done directly at scott office.
thanks

why you want to sell back?

how many ppl bough & order this property? can share ?

.


im afraid this scott so is not as good as they say...haiz im also letting it go cause off duplex soho and i dont think its a good investment haiz what a big mistake i have made damn.......

i guess it a little overpriced.

Prima avenue at dataran prima is around 17k . subang soho by titijaya around 28k .
and scot soho now 38 k ?

think twice ...

ambank just call me and inform me my loan has been approved and can b sign on tuesday for god sake i wanna sell this off...who is interested?? i bought block b 22 floor ....

what if u still can't get a buyer..they dun refund your booking fees or rather, ur 10% down pymt? gets forfeited?

yeap will b forfeited cause they mention b4 we purchased....i just worrid this will b not so success like soho subang only since its okr...........damn i make a big mistake

should be many buyers if u want to let go now, went to sales office at brickfields before, many people there. sales agent there say wait for next hase

the scott soho overprice lah.. at first i also think to buy 1 , oredy press rm2k as deposit, at last stop it, they will mention on Tesco Express.. and only 500sq/ft + 200sp/ft = 775... mean ground only 500sq/ft,, very small leh...

I also wanna let go my unit, mine is tower B, level 8, pool view.
Only can get 70% loan, not enough cash, what to do The sales girl said it is easy to get 90% loan, NO SUCH THING!
Who interested can email me: skyem79@yahoo.com or contact 012-3625155.

how much you wanna sell? what is the price after 8% discount?

apparently only few banks only want to do this project i heard.

Location wise i believe is quite good, near to npe,kesas,federal.

location ok, just the abt rm500 per sq/ft a bit pricely..RM362k for 500 sq/ft, upper 200sq/ft.. somemore not double duplex, its 1.5 double storey. maintance also quite expensive leh

haiz who wanna buy my lot?? just pm thanks

i've search the developer, there's no company website about aston villa sdn bhd. anyone wanna share about this ?

according to them .. the developer quite New ..but previous got done few project only.. this is what i been told by the SA during the EXPO property fair..

then i not satisfy SA said RM7k++(down payment) is Non-Refundable.. normally , the developer will refund 90%, 10% is consider penalty for admin fee.. but this project.. they said will ALL forfeite downpayment.. ask us faster book and said very easy to get loan..

exactly thats what sa told me also.....damn......

A reputable developer will do refund no matter how. this is based on experience

yes, i agree with you. no refund seem so cruel and lintah darat.

maybe it is a sign for me to pass this project.
i dont want to make any risk la.. 6K is a lot..

but even the reputable developer will only refund when the purchaser cannot secure loan. u cannot suka suka ask for refund. am i right? pls correct me if i'm wrong.

yes,, we do not suka2 ask for refund. but there is always cases loan not approved. sometimes buyer change their mind after put the booking fee also.
from my experience, some reputable developers refund only fir the first case but i have also experienced refund for both cases. basically developer will deduct rm250 - 300 as the admin fee.

i have a friend who book 1 apartment unit in kajang.
booking 1K, not refundable.
and it is true.. rm1k hangus..
luckily i booked casa idaman in jalan ipoh. when i change mind, they took rm300 from teh deposit and refud the rest

Yes, i agreed with you. cannot suka2 to ask for refund, i have ask them, if the loan not approved, is that any refund, SA said NO! all the money will be forfeit, mean your downpayment rm7k. so they said , you must ensure your LOAN will be approved, then they start to promo.. very easy to get loan d ...no problems.. said use their panel banks...

anyway it depends on the developer's policy. It is adviseable for the purchaser to confirm with the developer whether the earnest downpayment is refundable before paying.
For covillea by Berjaya, they said clearly that RM10K deposit is non refundable for whatsoever reason, i.e. if purchaser cannot get loan or suddenly change mind then the deposit burn la..

i just been inform by ambank only panel bank offer 80% loan only....and i didnt been inform 80% loan approval only...all lies....

I'm a buyer of a unit located on Tower 2. I bought it based on the following reasons:

1) Location : Old Klang Road is very strategic. Its proximity to MV, KL city center, Federal Highway, etc.

2) SOHO concept : Being a commercial unit, I will be able to register my company here. This unit is ideal for free lance IT specialist, lawyer, financial consultant etc....everybody who needed a small space for their business.

3)Scott Garden units downstairs : TESCO is a plus, but I'm looking forward for banks and F&B outlets to come in.

4) Discounts : Well... 8% discount is a plus.

I've secured 90% loan from AMBank. I've also been offered 90% loan by UOB as well but did not take the loan from them because I need the loan urgently(I travel a lot). UOB is 1 day behind Ambank in preparing the offer letter.

Note that Public Bank will offer only 80% loan.

Hope this helps anybody eyeing this property.

p/s: I do agree the sales person had been too pushy. They sounded more like 2nd hand car salesman rather than property salesperson.

hahaha... that salespersons also want to SECURED their commision mah.. lolz

It is RM354K after discount.

wah.. why so expensive? i tot after discount should be rm310k?

SOHO property not practical to live. If one bought it for biz usage, that's good. Rental wise, don't think there's market - Msia has got abundance of office space and a very strong management team is a must to manage SOHO property - doubt this developer can do that.

i really hope that this developer wont cabut cause,i will b so heartbroken......hmm... i think mayb this will work eventually...

Oh. Mine is pool view, can view KL. The original price is RM384K, after 8% discount, then is RM354K.

have u guys found buyers already?

ya... hows the update...

ok guys i got the latest update on this development...first off all so far i can only manage to get 80% loan from ambank public bank only for this property..reason?? i been inform by bank officer they say that this developer is not well know....even the bank is not confident this developer...so who ever say can get 90% loan yes but only block A im sure block B all also can only get 80%....beside.....im sick off applying anymore.........

80% loan... hm...

not all banks can do this project cause got title problem is that true

So Cheong, still want to sell ke? What price did u buy it?

Aston Villa Developer is very rich, therefore need not to worry about this project.

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Added on June 17, 2010, 11:44 pmHi Cliff, I have few units of Scott Soho which i able to have 90% loan. Alliance Bank limit for this project is full. Try to check with UOB. Ambank is giving 90% as well, but change their rate to BLR -1.5 because new rules from Bank Negara as Scott Soho under commercial project.

No need to worry about this project because the location is terrific. It is near to Midvalley. The whole Old Klang Road Area going to have a massive development in the near future, as all those houses already demolished and old shop lots going to be phased out very soon. The whole stretch of the Old Klang Road will have new faces and full of condos and offices in the future. Whoever purchase the properties at this area at the moment, will enjoy a better return once new building comes up in the future.

Those who purchase more than few units are using it as their own office.

Tesco has signed 30 years agreement with this project and need not to worry about it.

This post has been edited by RomaNce: Jun 17 2010, 11:44 PM

Hi RomaNce,

I noticed that you just registered to this forum yesterday. Are you a rep from the developer? Seems like u are kind of promoting the place and have a lot of insider information

No offence, just curious.

I visited this forum before but kind of lazy to register and not too familiar with forum. Last night read a lot of negative issue therefore just register and join the forum give some infor.

Tesco is my client which i know about tenancy.

I staying very nearby for more than five years which i witness the change of whole Old Klang Road area inclusive of Taman Desa and OUG, traffice getting more, pubs, offices and etc. At the riverside, few years ago full of wooden houses and resident staying there from the past, which already move to other area. There going to be a lot of new development at the riverside.

Check out on the No.28 Old Klang Road as well....new. Those shop lots already there for long time, going to move away as well.

I check out on the developer from most of my friends and relatives (developer, architect and investors) which i found that is ok to get it.

Therefore, no worry to get Scott Soho.

I am not working for Aston Villa or their promoter.

I believe the rental for the Scott Soho should be roughly RM1500 - RM 2000/month. If you cannot get RM2k, just rent it out for few years, you still able to make profit from there in the future once you sell it off.

Whoever has bought it, just no need to worry, the completion date is 2013/2014, thich construction and building price has already goes up...just be patience.

sound nice

wah it that case right.......why dont i sell off my unit to u?? 22 flooor block b?? since sounded so nice u wont mind taking my slot also right bro??? u can rent it out..im tired of this stupid loans.... i giving myself time ....if uob and alliance also 80% then im letting it off.....

Sorry, i cant get anymore, my loan limit is full.

im sure u did mention to ur friends that scott soho is that good.. mayb u got friends still interested in it...mine is avaible for sale ...do pm then if anyone interested.....

How about Zetapark at Junction of Jalan Genting Klang and Jalan Ibu Kota?...is on top of Festival Mall own & management by Parkson Group?

Is your unit facing swimming pool? what is the size and the selling price? How to contact you?

Yes, all my units are facing pool. I bought those units around 360k (loan figure) each (775 sqf) as almost on the top floor. Have you got your loan yet? The terms and condition for Alliance is better. Have you signed the SPA? You can contact me here.

anyone still have units to let go, do let me know for first phase nearer to highway one. my friend want go in, but not last block.


This post has been edited by airline: Jul 13 2010, 11:50 PM

Do you have any unit to let go? i m intersted to get a unit facing swimming pool. Preferably early two (2) blocks..
i think your units is the last block,right? But the last block (3rd block) already too expensive.. If u have unit in earlier 2 blocks, i ll take..btw, are u an agent?

The 'limit' per each bank is difference, perhaps you could try Standard chartered they can give up to 80% margin off your gross salary/income...

I am no an agent. My units are on block A and B and not to let go at the moment. Sorry.

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Added on July 16, 2010, 6:19 pmThanks numbertwo. My loan limit full not because of Scott Soho, i have other properties as well.

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Added on July 16, 2010, 6:23 pmSorry i will keep my units, from block A and B. No, am i not an agent. U can check with cliff who said he wanna sell off his.

This post has been edited by RomaNce: Jul 16 2010, 06:23 PM

Hi R,

The margin of installment vs. your gross salary is often determined by the bank.
Say your gross income is 10K. Some banks only approve your loan if your existing commitment has not reach 4K or 5K. But some banks will give go ahead even if your commitment has reached 70%!

So, as long as you have not reach 80% threshold .. can still try..

Thanks numbertwo. I know about that. My limit is max...therefore at the moment i cannot get any new property till i sell off one then replace by a new one oh.

i just got my loan approve 90% and i just sign snp...so finger cross guys!!!!

congratulation Cliff. Anyway, what is your unit number? Mine should be on the same floor as yours. Maybe we are neighbours. Yours is for investment right?

which bank give u 90%? mind to share. is it UOB

Lucky i never bought any units there. went to visit the site and shocked to discovered a sewerage pond nearby this project site. And it smells badly when the wind blow. Next time, difficult want to get tenant and not a good investment. The developer also try to avoid giving any explanation of the sewerage pond just nearby the site. So must visit the actual before any investment...

Try AMBNK, they give us 90% loan

but according to fren, now bank wont allow 90% loan.

Me & fren bought a unit together. Block A..... hehe

hopefully is a good investment la

definately is a good investment. Some of my friends called from East Malaysia ask me to get them few unit unfortunately no more for Block A and B.

Ambank no more offering 90% loan, they only provide 80% or 70% loan with BLR -1.5 only.

I'm a buyer of a corner unit on Blk B, with 300++ sf balcony as well. If remember correctly, the price is RM 460k ++. This is my 2nd property on OKR, & I'm fully confident this place will be a good investment.

Anyway I got my loan from UOB, 80% only. I have many other loans going on, so no choice.

Anyway the showroom is ready soon. I had a peek 2 weeks, very nice finishings.. many glass. Totally opposite to Empire Subang.

Blk B have few units left facing river, pool view all sold out. Blk C is already launching, I think price up by 5% at least compared to Blk B.

Happy hunting

showroom at Aston Villa's office or at the project site?

I am confident this place will be a good investment too.

My loans from Alliance with 90% and BLR-1.8%.

I have visited the showroom next to Aston Villa office. Is there any showroom opposite Empire Subang? THe one next to Aston Villa office should be ready soon or is ready by now.

Yes, price of Blk C is 5% higher.

You can have a search on the net on Empire Subang... their units are really bare. Only a staircase leading to the loft floor. Even the stairs have no railings.

Scott stairs have railings, & the loft floor have partition. The lower floor have big tiles, loft is timber I think. The ceiling height is 20 ft, Empire I think only 15. We are also given kitchen cabinet, 3 x a/c & 2 x heaters.
Less hassle to furnish the unit in the future.

yes bro for investment 22-16

Looks so excited and happy...i thought previously you wanna sell.... Mine are in the middle on the same floor. 22-06/07. I have also units on the 23a.

Good investment? Anybody have any comments on the oxidation pond behind the project? Will it bring down the value of the property? Any body have any concern about that oxidation pond? Its quite a major sewerage oxidation pond just behing this project....

There is water treatment on the pond. No worry about the pond. Look at 3rd mile sq, there is no problem as well. If u interested in the soho, just no worry and go ahead. If there is pond problem, what do you think about Tesco clients in the future....defintely no problem.

Hope what you said is right..But what if you are wrong? This property price is not cheap either, must think carefully before make final decision..i m still undecided whether to invest or not..very worry about the bad smell from the big sewerage oxidation pond just behind the site.l. The developer seem also try to avoid talking about the sewerage pond when i try to ask him.Is this going to be a good investment?

Being a investor, u have to make up your mind. If you feel like you not comfortable, just move on with other property. If you like it, just purchase it.

So, u are taking a big risk in this investment? Even though u know that the sewerage oxidation pond is just beside the project side. Is it worth to take this big risk? dont you think the risk is too high? Please advice..

not just the smell.
would u like to park 5 floors up.
then stay above tesco. which caters to mostly low end
am still considering.