Dont play play. EddyLB = taikor wooo

Just a small fry compare to the many taiko here

oh i thougt you guys are using same id....it's relying to each other it seems.

Boss dun b shy la. I read thru all ur Genneva posts. Really salute la. Not everyone can do a proper calculation and act smart like u. If u r my biz partner, I can sleep well liao.

for all we know some of them are working in lowyat as those IT technician

I tot you are a mature forummer, I think I am wrong.

Haha those Genneva days. Really missed those people who believe in the Ponzi scheme. Pat Lu, Anoy_me, etc

Yup, I admit I do not have much experience on commercial properties.

For rental payment promptly, one of my mentors recently taught me a "technique" that you can use (which my family has used it succesfully). Collect 1 years rental in advance via post-dated cheques, dated on 1st day of the month, but charge only slightly lower rental (ie 5%-10% below market).

Then deposit the cheques on the 1st of each month as landlord. Tenant only has to make sure sufficient money to clear the cheque during the 1st of the month in their account.

They won't cheat because if they bounce the cheque then they'll be blacklisted.

Of course this method only works with middle-class tenants. Those lower class tenants are different story la. Of course, the tenant can cancel the cheques too but that's an extra hassle to him/her.

Do you reckon this method can be used on commercial props?

Yes, it helps a bit. But my experience is PD cheque or no PD cheque, if the tenant can pay promptly, they will pay. If the tenant has cashflow problem, then on the 30th, they will ask you to postpone banking in the cheque. So, the problem will still be there even with PD cheque.

For those Pak Hitam, I even collect 1 year rent in advance and charge them 30% higher than market. So, rental can actually differ greatly on the same property. But you will suffer as these tenants will bring a lot of trouble to you and your property. So, call me racist, but I am not renting to them in the future after 1 bad experience

Bro most commi using tis method for long oledi la. Pros n cons. Cancelling cheque is not hassle. Another to cheat is just sign diffently oledi jialat kenot go thru liao. Afterall gd tenant can turn nasty too. Eg losing $$$ in genting n borrow fr a long.Anyone can turn evil overnite.

Try get urself into the boat then u ll hav a solution to every trouble. Practice makes perfect ma. No practice ll get rusted very easily.

There r some $$$ not ours to earn. Some tenant who come to u n tell u how rich he is, beta watchout. I prefer those really tok less, ask less n pay on time type.

Once an insurance agency tenant told me how well his biz was but alwiz pay 1 mth late. I decided to just terminate him after TA. Prob solved. Get another new tenant n raise 20% n touch wood, a very gd pay master. Din incrwase much after tat. Onli twice thru out 8yrs tenure b4 I sell of with 1:4. Thank god.

I even have 1 tenant who pays promptly every month, but complain a lot on maintenance. Air cond not cold, toilet leaking, door lock spoilt, fridge spoilt, toilet stuck etc etc. Every month also got complaint. Until I fed up and offer her RM300 pm and ask her to take care of the maintenance for me

Suddenly we all talk about rental issues

Agreed. We need this kind of biz partner that look at the big picture. Finally, I'm seeing some healthy investor instead of flipper. (his strategy is similar as my parents strategy)

This post has been edited by Steven83: Mar 20 2013, 11:36 PM

Nice to know taikors here share their experiences.

This post has been edited by AMINT: Mar 21 2013, 01:59 AM

I vote up too... Looking forward for a property but couldn't afford... Sob sob..

I vote up too... Looking forward for a property but couldn't afford... Sob sob..

Can i just say I found good deal or smart banker?
Or u found bad deal and lousy banker?

end.. I dont want to argue with u further as this is my experience

http://www.thesundaily.my/news/639728

Your 1 experience is probably a coincidence. In my experience (and i have invested in a few properties), is that banks valuation will never be the same as the asking price if ure talking about ppl who value the properties correctly. Banks can only match asking prices if asking prices are slightly below market prices. We all know that even though banks know prices are higher but they might evaluate lower to reduce their risks. Back in 2009/2010, banks were valuating mostly according to asking prices but since 2011, they have become very cautious. Even for me with stable finances, i had a problem purchasing a property in 2011. Only CIMB managed to match the asking price.

this is true to a certain extent..but if im a banker this is my opportunity to widen my market share if I have lots of reserve to spare..so u cud see that some banks are cautios some are quite agressive..so as a consumer its up to you to knock as many doors as you can till they let you in..i think as long as rental can cover your monthly payment you are good to go although some bank said the property is overpriced..else you wouldnt even take the time to look at that property in the first place arent you?