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Investment M CITY, JALAN AMPANG [OWNERS' THREAD], Mah Sing presents its most iconic

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BEANCOUNTER
post Dec 3 2018, 11:06 AM

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No one really know the net price.

All online portal only show gross spa price.
BEANCOUNTER
post Dec 11 2018, 10:29 AM

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QUOTE(puchongite @ Dec 11 2018, 08:49 AM)
That explains why this design does not get as good rental per sf when compared to smaller build up.

Normal 10xx sf can have 3 rooms already.
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this is Ampang lah…

not your normal university taman where 1000sq can fit 10 people and 5 cats.
BEANCOUNTER
post Dec 11 2018, 10:41 AM

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QUOTE(puchongite @ Dec 11 2018, 10:34 AM)
That's not the point. The point is that a normal 10xx sf unit at the same location could easily fetch higher rental than this duplex 10xx sf unit.

You can go check the same m city other slightly lower build up units, like 8xx sf or 9xx sf, they fetch comparable or better rental.
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not every owner is for let.
and this is the SOHO block, the owner could have let out as office and can demand better yields..

if one can only think about maximize bedrooms, maximize beds, then might as well just buy rumawip for better rental yields, why nak susah susah look for any other products.
BEANCOUNTER
post Dec 11 2018, 01:03 PM

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QUOTE(puchongite @ Dec 11 2018, 11:13 AM)
It is not so susah susah. Auction process helps to screen that for us. It can happen that an auction higher end unit fetches better return than an auction rumawip.

Furthermore a rumawip is renting illegally and resale time is quite an unknown.
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Its only illegal to rent out runa if there is clause stated in spa or dmc or a seperate ruma act prohibit it

Right now its just morally wrong to rent out, if one holds on to his or her moral high ground.

Now back to tis duplex for highrr end popety (sold 1000ps), the notion of max bedrooms might not take centrestage. Ppl that buy property of such budget also might not be looking at max. Bedrooms.

Bear in mind that tis m city was launched before the 3bed 800sq era



This post has been edited by BEANCOUNTER: Dec 11 2018, 01:08 PM
BEANCOUNTER
post Dec 11 2018, 01:22 PM

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QUOTE(puchongite @ Dec 11 2018, 01:12 PM)
I also have terrible experience of renting out lower end units. Bad in term of rental collection.

Maybe it is confirmation bias.
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But ruma is not exactly lower end housing.

Before there is low cost flat (below 50k)

Low mid cost apartments (below 150k).
BEANCOUNTER
post Dec 11 2018, 01:29 PM

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QUOTE(puchongite @ Dec 11 2018, 01:18 PM)
I cannot imagine one who only wants 1 bed room to go and rent a 10xx sf unit, particularly annual rental type.
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Taiko

Tis is duplex proper (not some loft units sold as duplex).
Duplex actually means three things different from loft:-

1. Ceiling height is the same for lower and upper floors
2. 2 seperate entrances from outside...one for top floor and one for lower floor.
3. The entire duplex consider as two floors or two storey, unlike loft.

It all depends on the creativity and intention of buyer.
Buyer can keep top floor as his bachelor pad and use ground floor for his start up biz, with staffers

Buyers can also renovated the ground floor for additional bedrooms.

Honestly only lazy and uncreative buyers bought unit thaf he doesnt know what to do with it except rent out as bare

Serve hin right
BEANCOUNTER
post Dec 11 2018, 01:37 PM

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QUOTE(AskarPerang @ Dec 11 2018, 01:28 PM)
I still wandering how a duplex 1018 sqft unit is smaller than a 3 bedroom 1000 sqft unit???

Duplex will look even more spacious right due to double volume ceiling height at the living room area right?
Example lower level 600sqft. Upper level actually 600sqft, but to create this double volume, only 400 sqft counted, the remaining empty spaces not counted.
So is actually 600 sqft X 2 = 1200 sqft in actual fact but counted as 1000 sqft effective built up area only.

So how come it fits less compare to a normal 3 bedroom 1000 sqft unit?
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If you take our the staircase space, effectively tis duplex is around 850sq.

Yes one would wonder why they can fit 3bed???
The answer is at spaciousness bigger MBR, more space for living dining and kitchen.

Have you been to those 3bed 1000sq or 800sq apartments? How spacious is the bedroom and toilet? Can you swing a cat in the room without risking breaking the poor cat's neck?

My friends 9xxsq 3bedder unit, the mbr can hardly fit a wardrobe and walk the same time. Ultimately he has to scsrify the 3rd bed (happen to be just next door to turn into a wardrobe space.
BEANCOUNTER
post Dec 11 2018, 01:49 PM

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QUOTE(AskarPerang @ Dec 11 2018, 01:42 PM)
Disregard my above question. I just take a look back at the duplex layout of M City 1018 sqft. Lol. No double volume at the living area. The entire master bedroom covered up the area.

Is basically just a 1018 sqft unit divide into 2. Each getting half the size.
No wander.

But if adventurous, I bet able to close up the stairs, and convert into 2 separate dual keys studio unit to rent out.
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Got 1bed with double volume taiko
But 1066sq is 2bed 2bath.
BEANCOUNTER
post Dec 11 2018, 05:05 PM

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QUOTE(AskarPerang @ Dec 11 2018, 02:10 PM)
Why is not allow? Got dual entrance from outside.
Take a look at the layout of 1018sqft. You are not adding anything on the VOID area to create more spaces to step on. Coz there is no VOID area. as mention, is not real duplex unit.
You just need to cover up the staircase that's all.
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why its not real duplex?

unless ms sold these units as dual units with 2 titles.
BEANCOUNTER
post Dec 11 2018, 05:07 PM

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QUOTE(puchongite @ Dec 11 2018, 02:14 PM)
Cover will not be as strong as a reinforce concrete.
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use as bedroom ok lah…

most loft units are metal deck only....macam empire subang
BEANCOUNTER
post Dec 13 2018, 10:48 AM

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QUOTE(AskarPerang @ Dec 13 2018, 10:33 AM)
Mah Sing doing another lelong record at M-City?

5 out of 6 lelong units in the market now is vacant unit condition. Nobody staying. Indirectly meaning cannot find tenant so nobody helping out the owner to pay the bank monthly loan repayment.
Only 1 unit is occupied most probably by tenant.

Here is the lelong list, all active lelong units in the market now:

1. 3-11-21, 678 sqft
2. 3-28-03, 533 sqft
3. 2-13A-02, 532 sqft
4. 3-27-16, 977 sqft
5. 1-15-21, 911 sqft
6. 2-29-18, 1018 sqft

Wow. Just wow.  yawn.gif
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its almost impossible not to be able to find tenant in kl. Say if you half the rate from normal market rent, see got fish got hocked or not.

obviously these owners are least worried abt lelong units for some reasons.
BEANCOUNTER
post Dec 13 2018, 11:03 AM

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QUOTE(puchongite @ Dec 13 2018, 10:59 AM)
I think these owners don't have money to renovate the place. So to rent out a vacant studio without furnishing is hard. They bought the place to flip.

Tenants who want to stay in M city they expect furnishing.
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hmmm.....

to fully furnish a studio, how much will it cost? 20k? Max?

if you put on lelong market, how much money you get to lose? 200k to 300k?


even if you need to cheat, rob, steal from yr yii mah koo cheh, you will do for 20k rite?
BEANCOUNTER
post Dec 15 2018, 08:06 AM

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a proper dual key entrance unit will have

1. 2 different access doors
2. 2 unit numbers
3. 2 electricity meters
4. 2 mail boxes.

but one strata title, one tax assessment bcos buyer only signed one SPA.

I know there are some developers pushing for dual key units, but I certainty sure that these units do not have the above separation. latest example is Velo city 2.
BEANCOUNTER
post Dec 15 2018, 09:53 AM

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QUOTE(puchongite @ Dec 15 2018, 09:25 AM)
Without 2 electricity meters, that will spur a lot of discussion about how to solve the issue but I haven't seen one which is satisfactory enough.
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sorry one electricity meter and one water meter only bcos the SPA only one set.

just charge flat rate loh…...macam Airbnb or hotel. tak boleh kira sampai lembu balik ke rumah wan.
BEANCOUNTER
post Dec 19 2018, 10:38 PM

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QUOTE(AskarPerang @ Dec 19 2018, 05:10 PM)
Plenty of discussion regarding this 1018 sqft duplex unit.
Anyway attracted 4 bidders just now.
Sold at 620k. Not sure is good catch or just so so.
Still definitely way below launched price.
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Nsh...at least 4 persons in this world got foresight....
Unlike the origin owner......gave up...unless someone put money in his pocket...


4 out of 6billions people thought....
BEANCOUNTER
post Dec 21 2018, 09:53 AM

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QUOTE(puchongite @ Dec 20 2018, 09:49 PM)
20k or more of renovation fees could require more than one year to break even. If these people already can't pay installment, maybe they already prepared for the worst, that is to bankrupt. So no point spending more money on it.
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I think the original buyer got cash back lah….like 200k.
he went to genting and tried to turn into 400k or more, but sadly lost it all...….no money to even put in 20k for full furnished.....
BEANCOUNTER
post Dec 21 2018, 11:04 AM

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QUOTE(AskarPerang @ Dec 21 2018, 10:45 AM)
This unit no bidder. Below 400k also nobody want.  doh.gif
Come next year, Jan 2019 ppl will start to regret this. Confirm. As usual.
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am not sure if you have noticed this....

those 13A floor units usually ended up in auction.
BEANCOUNTER
post Dec 21 2018, 12:43 PM

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QUOTE(puchongite @ Dec 21 2018, 11:14 AM)
If the whole block is 13A, then the whole block bad luck ?
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Wat i meant was if you noticed lelong units more often or not flr 3a and 13a or unit 3a or 13a appeared quire regularly.

I dont know if this is a fact or maybe 3a or 13a easier to remember.
BEANCOUNTER
post May 30 2019, 05:34 AM

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QUOTE(RyoKenzaki @ May 29 2019, 08:15 PM)
How come upper floor got one door at the front? Leading to where?
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this is the proper duplex......double storey unit, top and bottom floors also got access.....

people tend to mistaken loft with duplex. Loft generally doesn't have dual entrance and both floors ceiling height are not equal or close to be equal.
BEANCOUNTER
post Jun 27 2019, 12:12 PM

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QUOTE(luvox @ Jun 25 2019, 10:12 PM)
Thats what COB reply, but need 21 days notice prior to agm. Some condo is more creative if cant get 75% vote to ban airbnb, they get 50% above vote to ban airbnb guests to use facilities or get fined
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how do they implement that????

each owner takes turn to be auxiliary policeman to guard the common facilities 24/7?

and how to differentiate btw guests of a tenant OR Airbnb guests?

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