with due respect to all investors of 288 residency -- isnt this setapak and its surrounding areas of this condo a bit salah??? And you guys are investing so much in setapak? Two days ago, my fren told me he bought a unit there. I asked him his target tenant, and he told me he intend to rent to students. And guess wat..... i nearly fainted ......... that proves that he never thought much before his purchase. Frankly i think he is a bit silly to park his $$ in 288. There are so many safer areas to invest in

Can share with us your views ar? hehehe....why so salah/silly ler park money in 288?

haha. First of all, welcome to 288 thread, my humble opinion:

Yes, if your friend intend to buy for rental income. student is not the right audience for this or surrounding project. Instead, graduated student, especially those students who tend to continue staying in KL working and trying to start a living. These project provide them an upgrade to what they are staying. Their spending power is growing day by day. This contribute greatly to the development in Setapak, this is also another reason why PV project is selling like hot cakes, because these group of people all trying to buy a house to stay.

It is way premature to claim silly to park $$ in 288, the word of mouth is good, the prospect of the area is good, it is a pretty good project to flip.

I am not sure whether you are familiar with the location or not, but the last time i went to the place, i cant stop myself imagining, how its gonna be in 5 years time. Even now, with pilling and construction started, i can imagine high rise, busy shoplots, even starbucks or coffeebean.

There is a total of 1000 units on total for 3 projects (222, 288, SG) But many of these units is for own stay due to upgrades. This area in fact is perfect for own stay due to:

1) Its near to the new Festival mall development, but not too near as if it will affect our daily life.
2) It's more exclusive, and far from student area
3) If you staying nearby, and your current house is in high demand for rental or subsale, upgrade your living quarters and free up your current house for rental / sales.
4) As i already mentioned earlier, there's already shoplots nearby, which will get revitalized pretty soon
5) Its near to the primary school, (a bless and a curse) but still, for many of the parents, this is good
6) While i can understood the jam and traffic concern, It is infact better than PV area in terms of proximity to KL.

Feel free to add in or correct me if im wrong.

highlited in red.

bro contrary ler to many of us actually spending power are getting lower each day due to inflation and stagnant salary hike. LOL

Thos buy houses then who are going to rent from us? should we say the demand on the properties in setapak and its vicinity location is high. LOL

if your fren bought a unit for rental, he/she should target expat or corporate... not student...

RM 500K unit... at least 2.5K rental to cover installment + expenses... Can student afford 2.5K rental?

For those who start working in KL, they rather fork out 2.5K for their daily expenses or pay installment for their first home with 100% loan.

Logical thinking, besides expat and corporate, who want to fork out 2.5K to rent a condo?

jm2c

Hi, not really, there are many 80s citizen doing very well and financially health…is just putting themselves in low profile. Most of them are ex-Tarcian include myself. Opt to stay in Setapak for lifetime if possible.

There is no proper gated and guarded terrace community in Setapak, therefore, SG and 288 are the good choices for dwelling.

Add to Hiddie’s point, the only hurdle for 288 is unknown developer.

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Added on March 17, 2011, 9:33 amGetting expat rental is unlikely to have, Setapak is still not their choice unless you referring it to negro, then plenty of them wish to rent i guess.

Potential tenant or ideal tenant should as Hiddle mentioned : rookie to corporate world.

This post has been edited by SG hardcore: Mar 17 2011, 09:33 AM

you can rent out to different people. let say 5 people those who start working and could spent lil higher rental but has not stable in term of financial and would like to have a better living condition. This is very common but the thing is you will need to deal with few tenant rather than 1. Or someone might rent the whole unit and seperate to rent out to others. This is very common.

For my point on this 288, it should be nice for own stay provided a good security system and low density, ease to access to kl and genting klang. The only thing is either the brand new developer will deliver 80% or more from what they promises in terms of quality of build.

just my opinion

with all due respect.

there's no such thing as salah or what so ever.

but as for wat your fren said rent to student maybe is a little bit wrong target.

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Added on March 17, 2011, 10:18 amWoooohooo....

this indirectly shows that SG Hardcore is financially healthy with freedom yeah.

This post has been edited by cybertechmkteo: Mar 17 2011, 10:18 AM

Chief, what I meant for financially health is no debts in credit card, overdraft, and personal loan while still enjoying month positive cash flow after all essential commitment. That’s is financial health (but may still afar to reach financial independent in some extent). Most Malaysian could reach financial health with a proper state planning which I believe most 288 buyers are having the same norm, otherwise, why buy a condo at 500k.

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Added on March 17, 2011, 10:38 amI did introduce 288 and SG to some friends under the same age group and they just grab it (mostly 288 coz low entry level). So its proven the above stmt.

This post has been edited by SG hardcore: Mar 17 2011, 10:38 AM

Not everyone have the spending power to buy a house. But still their spending power should increase substantially. we are looking at a niche group of ppl here, not a general statement.

Can share where is d safer area? Not obligation no worry. thank you.

lol no need explain la was just pulling ur leg

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Added on March 17, 2011, 11:31 ami oso wanna know what does it mean by

"safer" area.

This post has been edited by cybertechmkteo: Mar 17 2011, 11:31 AM

[quote=cybertechmkteo,Mar 17 2011, 11:30 AM]
lol no need explain la was just pulling ur leg

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Added on March 17, 2011, 11:31 am

Chief, I don’t want my name crowned with richman which actually is not the real case:-

financial health
Definition
A description of the state of a person or company's finances. Someone with good financial health usually deals well with their finances, makes their payments on time, and knows how to manage their money. Someone in poor financial health usually owes a lot of money and isn't making their payments on time.

haha no worries la

the more u explain the more u cover up LOL...

Yes your are right winterad99. Only expats or bod corporates will pay that kind of rental money.... but frankly is setapak an area you find expats?
Historically Setapak is a student mecca. Furthermore, even if a person is willing to pay 2.5k per month for rental, there are many other more 'glamourous' options to choose from eg condo in PJ, Damansara and etc. Will you for example pay 2.5k for wangsa maju or cheras? Just ask yourself this same question. Of course not .......unless u work around setapak or gombak area.

And also no prejudice, setapak and wangsa maju area has always been student or malay populated area. When these happens, normally the
appreciation level will be lower... Malay area = no appreciation. The only exception in the whole klang valley is Taman Tun..........

Wat KH 6886 is correct.... each dollar that we earn now will be worth less and less from now on as inflation steps in. I forsee, inflation will increase further, no matter wat the government actions are ........ this is reality ....... food will definitely cost more in the future...... property will definitely cost more in the future ......... everything will go up and up.....

So If you guys are buying for own stay, you can go ahead to buy anywhere u like ...... so for those who bought 288 for OWN STAY, then there is nothing wrong with it....

But if u are buying to flip or buying now to stay and Hoping to sell with capital appreciation, think again.......... this area is not where the rich playing ground is .........if you are buying for rental income, this is not a place to consider either .........

every one in this blog should know that PJ, Damansara, Bangsar, Subang, MK always command higher rental premium. The perception is this ......... most people staying in these areas seem to feel that they are richer or more high class than those stayin in cheras, setapak, jalan ipoh etc..... eventhough they earn the same amount of income.......

That why, even places like sentul (again no prejudice ya ..... sentul is known to be indian community populated previously). When this happens, chinese buyers dun like it........ not that we are prejudice, but this is a fact ok....... this is how investors think...... YTL kinda slow down abit......... becos it really takes time for peoples perception or mind set to change...........and of course YTL is also channeling their funds to YES and other fasdter profit yileding project .......... the Sentul project is still stagnated due to inavailability of access roads......... etcwelll i am not saying the YTL Sentul area is a bad area to invest but i guess probably it takes another 6-10 years before peoples mind set can be changed to accept that area even though it is located in the central cbd.

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Added on March 17, 2011, 12:27 pmOh one more thing .......... never ever be carried away with those low entry home owning scheme offered by developers.........

Be firm! If you are buying for own use, no problem ........ go ahead but buy somewhere near your work place ceteris paribus or near public transportation etc lrt. mrt.

But when u buy for rental or capital appreciation, think who you plan to rent it to............ please dun buy wat your like or buy base on your emotions .......... wat u like may not be the same as wat your tenant likes ........... instead buy wat your potential tenants like but also make sure your target tenant can pay the kind of rental to cover your loan amount + maintenance fee + etc etc ....


cheers and good luck

This post has been edited by innocuous76: Mar 17 2011, 12:27 PM

well said...

but do u think a bit sensitive when u said this clause

"Malay area = no appreciation"

My Fren .......... it is the truth la ....... if you know any rich people .... just go ask them ....... even the rich malay people know that ....... even the rich malay people wont buy in malay area .........

BUT again there is one place in Klang Valley that defies this law " TAMAN TUN"

haaha too bad i know no rich ppl @ all coz i come out from those paria kampong kampong place lucky u come and advice tqtq oh.... so seems like u really in a prestige level leow sallute sallute

define law? Taman Tun?

eh mind sharing whats so good about tis Tmn Tun in ur opinion heh?

This post has been edited by cybertechmkteo: Mar 17 2011, 12:44 PM

OMG..then how now? I bought 222 for flipping...how how how???? can sell ar???? @_@