Not really, each unit 3 rooms can accommodate 7 students, they pay 350/mth to SeGi, so total RM2450/mth collected by Segi, nett profit is +- 650 per unit
total for cova villa = 346 units, Segi really make RM225K per mth extra income, 2.7 mil / year.
after 3 year, it is option for owner to rent it out themselves, I will rent it by myself.

If the selling price is RM400K for 3 rooms apt, you can collect gross rental of RM2450/mth, RM29,400/yr = 7.35% ROI
after deduct - Maintenance + sinking 600 / fire insurance 140 / assessment 640 = effective ROI = 5.35% (still higher than bank interest)
for long term, rental will increase, still a good bet, MRT nearby some more

This post has been edited by UFO-ET: Apr 9 2011, 05:04 PM

For me i will cal like this way....

If the selling price is RM400K... (mean i take loan RM360k, 10% pay cash RM40k, 3% S&P etc fee RM12k)
Loan Interest: BLR 6.3%-2.2%=4.1% ~=RM1,250/mth (above RM250k loan amount)
Maintenance & sinking fund: RM250/mth
Insurance: RM12/mth
Other: RM100/mth
Interest FD (3.2%p.a.) for RM52k=RM140/mth
Total: RM1752/mth as your cost
And RM52k as your capital.

so, u paid RM52k u get RM2450 - RM1752 = RM698/mth (profit)
your capital RM52k u get RM8376 per year, mean u earn 16% p.a.

If u put RM52K to Bank (FD interest 3.2%p.a.) = RM1664
If u go invest (maybe is Cova Villa) u can earn rental = RM8000++

I USING BANK MONEY TO EARN MONEY.

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Added on April 11, 2011, 10:01 amMy money are hardworking, working here and working there,
But your money are lazy, only sleep in the bank.

This post has been edited by m2c: Apr 11 2011, 10:01 AM

Correct me if i'm wrong,

if your loan amount RM360k, 30 year, 4.1 % .
Then your monthly installment should be RM17++ ?

ya...
so mean u only can spend RM200++, and RM500 need to "saving to property", (like EPF)...

So is Cova Villa still worth investing now since its around 400k? How is the maintanence/security etc? Can anyone advise? Thanks!

just want to ask, are there many Africans over there? i'm looking for a place nearby

Maybe u do not aware the parking problem. This issue is about the wrong design of Cova villa car park. The ramp go up to 1st floor car park only allow sedan car or smaller car to pass through. A bit difficult for MPV n 4W to drive up to 1st n 2nd floor. u can double check with the maintenance office. I personally went to check and it is really a problem for those who drive big car.

any owner of Cova Villa here? i am looking for a property to invest and am looking at this condo. are there any complaints about this place? any reply is very appreciated. thank you!

Hi reddevil, I heard that Segi is moving out on year of 2015. I personally think this will give direct effect to the rental on the property that invested. Anyone know whether this new is true? Actually I'm also interested on this condo. Need more advice

hi, mind telling where u get the info? or source?

i see from somewhere in other forum, thats why I wanted to know too. I already email and clarify from Segi Uni.
Still haven got their reply back. Anybody know this too ??

Hi, beside cova villa condo , any good investment nearby, tq