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 Residence 8, Old Klang Road by OCR, Worth for investment?

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majorarmstrong
post Jan 28 2011, 10:40 AM

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QUOTE(teaumika @ Jan 28 2011, 10:29 AM)
Got my offer from OCBC

Blr - 2.35 whole tenure but lock period for 5 years.


Added on January 28, 2011, 10:32 am

You can try to call this guy. 0126778390. He is an insurance agent.
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who is your loan officer? my only give me 2.30% lock down 3 years from OCBC....

The developer is chasing to sign S&P after CNY...

Better hope that Maybank can do 2.4% so i quickly decide to proceed or not to proceed....
majorarmstrong
post Jan 28 2011, 01:30 PM

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QUOTE(kok_pun @ Jan 28 2011, 10:53 AM)
hi armstrong, did u tell the banker up front u want BLR-2.35%?

normally OCBC standard is BLR-2.3%

BLR-2.35% at 5 years lock in period, a lot of people duwan liow
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i did but i guess the girl is new la... hahaha.. .anyway Maybank is my only hope for now smile.gif
majorarmstrong
post Jan 28 2011, 04:16 PM

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QUOTE(kok_pun @ Jan 28 2011, 03:09 PM)
maybank rate is ok.. but processing >1month
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Very true when coming to Maybank...

for Standard Chartered bank live up to their standard of 48 hours approval... smile.gif
majorarmstrong
post Jan 28 2011, 04:52 PM

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thanks for the input... very true...
lets see after CNY... if they dont come back then i will end up with ocbc
majorarmstrong
post Jan 29 2011, 01:22 PM

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QUOTE(airline @ Jan 29 2011, 12:26 PM)
Some maybank center process only 300k above or go to branch in ur case. Just to share
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lansi banker.. hahaha!!

majorarmstrong
post Jan 29 2011, 05:00 PM

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QUOTE(teaumika @ Jan 29 2011, 04:43 PM)
So far only OCBC thats is effective and friendly. My approval only takes 2 days.

Have decided to sign the offer by OCBC. My tenure is 37 yrs and -2.35. Since interest is based on daily rest hence the longer the tenure the better. Got money,  can dump in as and when u like.

Looking forward to sign the SnP...GONG XI FA CAI
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@ Tea - lock down 5 years gonna kill you la.. if you looking at selling after completion will advice you to take lock down 3 years
anyway, i am not going to buy the car park cause too expensive la... if you factor into the loan the car park price after over 30 years period will be around RM40,000.

I would still go for rental... check out the table below... if is RM50 it will take 33 years to break even only calculating the car park with RM20000

user posted image


GONG XI FA CAI to you too....

majorarmstrong
post Jan 29 2011, 05:37 PM

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QUOTE(teaumika @ Jan 29 2011, 05:25 PM)
Bro, thanks for the advised. Anyway, i dont think gonna sell the house even after completion. Hopefully smile.gif smile.gif
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me too but nobody will know what will happen in 3 years time...
another logic behind why taking 3 years compare to 5 years is better because nobody will know what will happen in 2014 where banks might offer up to BLR -3% or something like that when our economy is doing so well and it will cost no penalty to refinance.. die die also you should fight for 3 years lock down period.. the difference is not much for the 0.05%...


Added on January 29, 2011, 5:55 pm
Sharing some info in my blog...
user posted image


This post has been edited by majorarmstrong: Jan 29 2011, 05:55 PM
majorarmstrong
post Jan 29 2011, 07:29 PM

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QUOTE(Popo HoneyLew @ Jan 29 2011, 07:10 PM)
well, R8 hv 7% discount... it actually consider no discount as they jux take out one car-park rm20k.  hmm.gif
so if add another car-park back to square too..  whistling.gif
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the choice is yours... if next time you want to put your car park for rental, please let me know.. i am willing to pay RM100 per month.. hehehe!
majorarmstrong
post Jan 30 2011, 12:37 AM

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QUOTE(teaumika @ Jan 29 2011, 09:15 PM)
The LRT is at Bukit Oug condominium (opposite of the main entrance). About 5 mins away from R8. The consrction is expected to complete in 2013.

Trust Me R8 will definitely appreciate by at least 35% once OC Obtained.
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WE TRUST YOU!!!!!! You our TAI KOR here!
majorarmstrong
post Jan 30 2011, 04:03 PM

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QUOTE(novabankinghall @ Jan 30 2011, 09:01 AM)
This calculation assume $ paid for car park is a sunk cost or expense off which is not very accurate.

Eg if the carpark is 20K and your unit is 200K, thus when u sell your property sure will sell for 220K, right?

Thus should calculate by: (annual car park rental/carpark price) <---- if this is higher than your expected return, then you should proceed.
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capital appreciation for car park will not be much
as for now the rental for car park around condo's are ranging from RM30 to RM70 per month only...
most people buy car park is also not to fetch rental but more towards being more convenient when we have 2 cars at home...
majorarmstrong
post Jan 31 2011, 02:22 PM

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QUOTE(daryan_x @ Jan 31 2011, 12:46 AM)
Speaking about rental - Car rental for condominium in BU -is RM150
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true.. some area does fetch that much because working ppl park there RM150 per month is better than parking in their office car park which cost RM220
per square feet price there also more expensive..


Added on January 31, 2011, 2:23 pmanother update.. was in the site earlier and seems like nothing is done till now....

still a big piece of empty land hahaha!

This post has been edited by majorarmstrong: Jan 31 2011, 02:23 PM
majorarmstrong
post Jan 31 2011, 04:51 PM

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QUOTE(winghong @ Jan 31 2011, 04:45 PM)
Will the small road widen in the future??

Coz that day i went to visit the site, the road is too small til i miss the turn in juction...>.<
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i wish so...
and i hope that we do not share the same enterence with Sri Jati apartment.. haha!
Dreaming!
majorarmstrong
post Feb 1 2011, 12:59 AM

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the will be an allocated space near the staircase area for rubbish collection
this is what they told me when i pay my deposit...

smile.gif
majorarmstrong
post Feb 1 2011, 10:25 AM

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The selling price is high because only left the higher floor units..
Price has yet to appreciate as what i can see... smile.gif


Added on February 1, 2011, 12:06 pmWhat is the meaning behind the Buy 1 Free 2 concept for R8?
Basically means that 1 unit of apartment with 2 separate entrance as shown in the picture below. Sorry for the bad resolution as I could not get a better one from OCR.

You can treat it as 1 unit of studio (on the left which is your master bedroom) + 1 unit of 2 bed apartment + 1 Utility Room
This is good to fetch for rental, good for privacy as well since your tenant does not share the same entrance

user posted image

This post has been edited by majorarmstrong: Feb 1 2011, 12:06 PM
majorarmstrong
post Feb 1 2011, 06:24 PM

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QUOTE(mygarage88 @ Feb 1 2011, 04:24 PM)
Hi armstrong,
are you still letting go your unit?
whistling.gif
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hey.. if you offer me above market value i dont mind letting go.. but please offer ASAP la.. cause after CNY going to sign SPA chor...


Added on February 1, 2011, 6:26 pm
QUOTE(1378 @ Feb 1 2011, 05:46 PM)
Last year Oct' I have started to monitor apartment price in Penang.
One of the apartment price in Bayan Baru : Oct 160k --> Nov 195k --> Dec 200k --> Jan'2011 220k

I wanted to but but some friends advice need to hold it first bcoz the property house price will be drop.

So what is your all opinion?

Thanks for your feedback
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this is nothing compare to SS2 area
SS2 houses there is over 1 million compare to last year this time (January) around 500k to 600k hahaha...


This post has been edited by majorarmstrong: Feb 1 2011, 06:26 PM
majorarmstrong
post Feb 2 2011, 12:18 PM

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QUOTE
well, armstrong y not u contact the agent from the iproperty web... ask them for help.
haha... v waiti for your news on subsale value..
mayb that time u not willing to let go lio... coz appreciated getting high...  thumbup.gif haha..



hahahaa.... true true....
i got 3 ppl asking do i still wanna sell my unit...
i wanted to sell previously because of some loan issue and saw the property from LBS
then after discussion with my gf, we decide to keep both.. hahaha...
but now if anyone offer me above market value.. i dont mind selling... hahhahahaha!!!
RM423900 is my purchase price... if offer me RM450k i will sell immediately hahhahaa!!!!


Added on February 2, 2011, 2:47 pmLatest update on LOAN PACKAGE[SIZE=7][FONT=Geneva]

OCBC Offering BLR -2.35% for first 5 years (SEMI FLEXI)
-2.4% 5th year onwards
Loan officer name = Eva
Lock Down = 3 years!!

Ask Maybank to fly kite!!!!!!! Waste my time n effort to wait for them...
Idiots!

This post has been edited by majorarmstrong: Feb 2 2011, 02:47 PM
majorarmstrong
post Feb 2 2011, 03:40 PM

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QUOTE(Popo HoneyLew @ Feb 2 2011, 02:58 PM)
armstrong, whr is LBS? that property good?
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lease hold la... for own stay one...

http://www.lbs.com.my/index.php?mid=40


Added on February 2, 2011, 3:41 pm
QUOTE(teaumika @ Feb 2 2011, 03:02 PM)
Anyone of you know whether the lawyer fees for loan can be paid by credit cars? I am regret that i didnt used my cars to pay for the 3% downpayment to OCR..
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is RM5k can pay via credit card la..
3% also can pay via credit card meh?
if yes then i will pay via credit card lo... easier ma...


Added on February 2, 2011, 3:50 pmtea - boring la.. so less ppl in this forum and yet most of the unit sold out chor.... i guess those buyer not very IT savvy.. hahaha!

This post has been edited by majorarmstrong: Feb 2 2011, 03:50 PM
majorarmstrong
post Feb 2 2011, 05:04 PM

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QUOTE(teaumika @ Feb 2 2011, 04:11 PM)
I think it actually s lots of people in reading this forum BUT they choose to be silent reader N lazy to reply as it neef to register.

I think OCR will accept CC payment. If i pay with CC earlier then my points will be a lots.

Anyway bro, do you have actual date that we need to sign the SnP. Maybe we can go together.
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i think next week saturday i going la.. but need to call them up first
i cant make it on Monday to Friday cause of working....
if need take leave also can la.. we can go together la...
Anyway.. wat bank loan u taking?


@HoneyPopo - wanna tag along?


Added on February 2, 2011, 5:07 pm@tea - i am interested to get to know the actual measurement of each room size la... u you happen to have the info? just trying my luck....

This post has been edited by majorarmstrong: Feb 2 2011, 05:07 PM
majorarmstrong
post Feb 3 2011, 09:20 PM

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QUOTE(daryan_x @ Feb 2 2011, 10:21 PM)
Hi Armstrong,
"
OCBC Offering BLR -2.35% for first 5 years (SEMI FLEXI)
-2.4% 5th year onwards
Loan officer name = Eva
Lock Down = 3 years!!"

Do you have Eva e-mail/mobile ?  You can PM me . Thanks
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yes her number is 0173893388
majorarmstrong
post Feb 4 2011, 06:03 PM

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QUOTE(Popo HoneyLew @ Feb 4 2011, 11:00 AM)
ohh... most of buyer is block b in this forum.
Hmm... only me block A...
whr is the rest....
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dont worry la... you still can walk over not too far rite?
hahahah!!!!

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