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Investment My first home property investment: Flora Damansara, Advise, Feedback, & Comments?

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hitsugaya2010
post Dec 29 2012, 02:19 PM

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QUOTE(chingfui @ Dec 28 2012, 07:59 AM)
Other people opinion/review will be guideline, hv u viewed the place/units?
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nope still haven't still scouting for suitable properties... =)
chingfui
post Dec 29 2012, 03:26 PM

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From: Petaling Jaya, Kuala Lumpur, Hartamas, Mont Kiara


U scouting damansara area only?
hitsugaya2010
post Dec 29 2012, 06:28 PM

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QUOTE(chingfui @ Dec 29 2012, 03:26 PM)
U scouting damansara area only?
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nope.. scouting subang and puchong area too...
snetha11
post Dec 31 2012, 03:33 PM

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ok. was thinking of buying a unit at flora damansara for rental income too. but after reading about the crime cases, i might have to scout other areas. any other investment ideas?
pekanmy
post Apr 2 2013, 09:14 PM

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Just came back from Flora last week. Not much change only new Jaga and cleaning contractor. The major change will be this..
user posted image

and also maybe this??
Empire City 2

This post has been edited by pekanmy: Apr 2 2013, 09:16 PM
pekanmy
post Apr 10 2013, 10:43 AM

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AGM will be held on Sunday 21st of April 2013

This AGM is very-very importance, major issues include Strata Title, Forest Hill, Smart Card, General Maintenance, Security and etc.

Please attend for the sake of Flora and your investment.

I will attend this AGM for sure.


yours,

KH Yeo



chester816
post Apr 11 2013, 01:13 PM

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QUOTE(pekanmy @ Apr 10 2013, 10:43 AM)
AGM will be held on Sunday 21st of April 2013

This AGM is very-very importance, major issues include Strata Title, Forest Hill, Smart Card, General Maintenance, Security and etc.

Please attend for the sake of Flora and your investment.

I will attend this AGM for sure.
yours,

KH Yeo
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how you know that? through letter?
I'm one of owner but I didn't receive any from developer or management.
pekanmy
post Apr 11 2013, 01:20 PM

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QUOTE(chester816 @ Apr 11 2013, 01:13 PM)
how you know that? through letter?
I'm one of owner but I didn't receive any from developer or management.
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Got a call from the chairman. I think by now there are notices being put up and distribute to the owner.

Are you going?
chester816
post Apr 17 2013, 01:29 AM

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QUOTE(pekanmy @ Apr 11 2013, 01:20 PM)
Got a call from the chairman. I think by now there are notices being put up and distribute to the owner.

Are you going?
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would you mind sending me the letter have a look?
and the notices putted on where?

I'm attending for sure, just to figure out what's going on in Flora damansara due to investing to it.
see you there! smile.gif
mooze
post Apr 17 2013, 08:04 AM

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Hi guys, a bit off-topic but related to this apartment. I'm a bachelor living @ Subang Jaya (parent's house) and working @ Damansara Perdana. Even though distance is not far but due to car travel cost, traffic and working sometimes to late night, I feel its time to rent somewhere near my workplace. Flora Damansara catches my eye as I saw adverts owners renting it out for RM500/month, is it fair price if I move in?

Appreciate feedback from fellow FD owners here. Also, wishing you all the best on upcoming AGM, hope they will improve the many issues to be resolved for sake of prosperity.
pekanmy
post Apr 17 2013, 11:11 AM

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QUOTE(chester816 @ Apr 17 2013, 01:29 AM)
would you mind sending me the letter have a look?
and the notices putted on where?

I'm attending for sure, just to figure out what's going on in Flora damansara due to investing to it.
see you there!  smile.gif
*
user posted image
pekanmy
post Apr 17 2013, 12:40 PM

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QUOTE(mooze @ Apr 17 2013, 08:04 AM)
Hi guys, a bit off-topic but related to this apartment. I'm a bachelor living @ Subang Jaya (parent's house) and working @ Damansara Perdana. Even though distance is not far but due to car travel cost, traffic and working sometimes to late night, I feel its time to rent somewhere near my workplace. Flora Damansara catches my eye as I saw adverts owners renting it out for RM500/month, is it fair price if I move in?

Appreciate feedback from fellow FD owners here. Also, wishing you all the best on upcoming AGM, hope they will improve the many issues to be resolved for sake of prosperity.
*
RM500/month for the whole unit? Which block/floor?
Go to Mudah.com to get the current rental rate.

Mine, middle room RM400 & small room RM300 inclusive of electric, water & Unifi (fully furnished)

mooze
post Apr 17 2013, 01:43 PM

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Whole unit, RM500. Here's what I found from mudah.my earlier. RM250 is not whole unit, I believe. Info varies.
http://www.mudah.my/li?fs=1&ca=9_s&q=flora...&se=&frn=&mre=1
Do help explain what is the actual rate for whole unit, which is what target to rent in.

This post has been edited by mooze: Apr 17 2013, 01:50 PM
pekanmy
post Apr 17 2013, 03:06 PM

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QUOTE(mooze @ Apr 17 2013, 01:43 PM)
Whole unit, RM500. Here's what I found from mudah.my earlier. RM250 is not whole unit, I believe. Info varies.
http://www.mudah.my/li?fs=1&ca=9_s&q=flora...&se=&frn=&mre=1
Do help explain what is the actual rate for whole unit, which is what  target to rent in.
*
RM500 is the cheapest of Block A and B. Block D is around RM700, Block E around RM800 and block F & H around RM850.

http://www.mudah.my/li?fs=1&ca=9_s&q=flora...=&se=&frn=&mre=
Flora Damansara for Rent from Mudah.com
Agent 592
post Apr 17 2013, 03:07 PM

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QUOTE(mooze @ Apr 17 2013, 01:43 PM)
Whole unit, RM500. Here's what I found from mudah.my earlier. RM250 is not whole unit, I believe. Info varies.
http://www.mudah.my/li?fs=1&ca=9_s&q=flora...&se=&frn=&mre=1
Do help explain what is the actual rate for whole unit, which is what  target to rent in.
*
whole unit 500 shud b block a and b..if u dun mind the condition, rent whole unit rent out extra rooms, cn stay for free
Anonym33
post Apr 17 2013, 11:26 PM

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QUOTE(lilac @ May 14 2012, 10:25 PM)
Working for about a year full time now, my salary has finally reached RM3,000.00. Minus away EPF, and Tax and I'm left with RM2625 and after paying for my car loan, I'm only left with RM2000. It may not be much but I wanted to start somewhere knowing that my parents first bought their property at Damansara Utama at RM130,000 and now has a sale value of RM700,000. It was not about making money out of it (although if I could it would be good!) but I wanted to buy a property before it goes any higher!

user posted image

Being under Budget
First up was the Budget I had. Looking at my current situation I could only afford a RM800-1000 loan at most and at that rate I could only get a property at most RM200,000. Viewing a whole lot of properties ranging from Sungai Buluh to Ara Damansara, I wanted something located in Petaling Jaya for the sake that it was closer to home and well... shopping malls. I finally spotted Flora Damansara.

The Flora Damansara Experience
I remember taking a drive there the first time without contacting any property agents to view any units. I enjoyed the drive in until lorries and holes started appearing around the construction areas. As I reached the Flora Damansara entrance, it's sign was covered with shrubs and cars were parked scattered all around! Reaching Block A, I remember telling myself "This is crap! I'm out of here!" and quickly drove off at the end of Block C.

I left disappointed with what I thought to be prime land in Petaling Jaya.

Not being able to find any other properties in that area within my budget, I did my study more on Flora Damansara. Dang! It seemed like a hell hole! With water and electricity being cut, foreigners playground and worse of all I had to google "Flora Damansara Ghost" which lead me to a post in Lowyat.net claiming that Block E & F has ghost sightings after 11pm. Crap.

Despite all that "Crap" I decided to call a property agent and check out a unit. That brought me for the very first time up to Block F & H where I immediately notice a change in atmosphere.  It was not as rowdy as the Block A, B, and C but was definitely not heavenly. It felt very much more Kampung-Homey feel. The small mini-market at the bottom of Flora Damansara gave me a little pinch of my childhood as I purchased a "Ice Cream Potong" from them. I told myself "It's not so bad..." despite the horrible double-parking, vandalized wall, stolen life buttons and broken CCTVs.

What really changed my mind was after getting out of the lift at the 22nd floor. Wow! What a view! It was breezy and the view was amazing! Put together with a dizzling weather, I could have thought I went up a trip to Frasers Hill!

I got into a 850sf unit and I loved the layout as it was long and seem spacious! What I loved most about it was the morning sun view coming up on top of the mountains it faced and the amazing night view of the highway.

I decided to buy a unit there.

user posted image

The Bad
I met a couple from Penang there of which was very friendly. I asked them about the security in the area and they told me their concerns:-

1) Lots of foreigners
A lot of Africans stay there and their lifestyle does not seem to fit that well with us Asians. On my part, I've met both good and bad Africans, but my personal tipping point would be when I had an experience where I was nearly run down by a drunk African few years back. Not that I would like to generalize, but I just feel safer around Malaysians you can say.

user posted image

2) Poorer Residence
As quoted "There a lot of people who steal things here", and I could see that very clearly. From grills, to elevator buttons to even pipes! This raised a security alarm in my head. I even viewed a home with 14 students living in a 850sf unit. Dang!

3) Poor built quality
I think MK Land contractors must really be having a lot of fun building this place just to see the awkward faces of the home buyers. The tiles were poorly made in Block F, while Block H higher floors where much better made as compared to the lower floor. There seem to be not much of a consistency between each unit built and I would highly encourage you to view the unit inside out before deciding on the purchase.

user posted image

4) Bad History
Being made famous over the number of issues where waters were cut due to the management not paying the bill. Same goes with electricity. Honestly... who would want to climb up 24 flights of stairs to reach their home at night without electric! I know I would not!
The Better
The couple also mentioned to me "We like it here. It's not like the outside where it's busy and stressful, it's simple here!"

1) Stores at the bottom
I enjoyed my Ice Cream Potong! The stores at the bottom gave me a sense of community where people would go down there despite race or class. There restaurants, laundry, mechanics, cyber cafes, mini marts and even tailors down there which almost guarantees you not needing to leave Flora Damansara.

2) Friendly residence
Other than having a lot of students and foreigners there, the people and families living there are truly friendly. As mentioned, there is this sense of community there which you can rarely find in cities.

3) Cheap
Where on frigging Petaling Jaya can you find a property going from RM160,000 (850sf) - RM200,000 (1080sf)!?

4) New Management
After all the bad press Flora Damansara has been getting throughout the years, Flora Damansara now has a new management which committees are mainly residence of Flora Damansara themselves. It's good to hear that the swimming pool will be back in usable condition in a month or two and that action to better the place is slowly but gradually starting to take place.

5) Location
Once more, where on frigging Petaling Jaya can you find a property at this price and just a 5min drive from The Curve, Ikano, Tesco, and 1Utama? Plus! Put together an astonishing view at night!

5) The Amazing View
I shall attempt not to repeat myself but Flora Damansara really does have an amazing view. At Block H, you can literary see Genting at night. At Block F, you get to see 1 Utama and The Curve which promises a beautiful New Year's Eve.
The Future
I think one of my biggest concerns was the future of this place and would I end up losing money in the first property I've decided to invest in.  I did some homework or at least what I assume to be right.

Good to know that Flora Damansara will be getting 3 new multistory car parks and a beautification at Block A, B and C due to the projects in the neighbourhood. I sure hope this is will be maintained once completed.

user posted image

1) Empire City & Empire Damansara
Once more Damansara's name poised to bring in giants. Two major Empires will be moving in beside Flora Damansara.

2) Forest Hill Damansara
Semi-D's and Banglos starting at the price of RM2mil to 3mil has started being developed at the end of Flora Damansara (after Block C where it has been walled off). I believe this has pushed the facelift to be made so that Forest Hill Damansara would have a proper road to enter instead of a pile of double parked cars.

3) Taylors Lakeside
Mainly said as rumours that Taylor may be building a lakeside campus once more at the pond beside Block F, this could pose as a good source of rental if more "higher end" students start moving in.
user posted image
I know this is a very long write up. Took me a good 45min to write this, but to summarize this all, I guess my question here would be -


What are your thoughts in investing in Flora Damansara?
Is there a future for this place?


Being my first property purchase, it would be great if any Sifu could help give me some feedback or comments. Hence... here's my cry for help. HELP!!!
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Anonym33
post Apr 17 2013, 11:27 PM

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This is a great article!
accetera
post Apr 18 2013, 01:19 AM

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Flora can be a goldmine if run better.
chester816
post Apr 18 2013, 09:49 PM

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QUOTE(Anonym33 @ Apr 17 2013, 11:26 PM)

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are you sure Taylor Lakeside is just right beside Flora?
pekanmy
post Apr 18 2013, 10:11 PM

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QUOTE(chester816 @ Apr 18 2013, 09:49 PM)
are you sure Taylor Lakeside is just right beside Flora?
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Go to this topic Empire City 2 biggrin.gif


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