QUOTE(MaxKHOO @ Oct 6 2013, 10:46 AM)
For investment, is this worth going in? The RM900 psf is probably for the big units. For the small units 829 sf, it starts from RM766,000 as published in their Facebook. That is RM924 psf. After 10% promo discount, it is RM831 psf. It's not furnished. Only aircons are given. Need at least RM50K to RM60K to furnish decently.
If take 90% loan over 35 yrs, monthly installment would be abt RM3200. Plus maintenance fee of RM348, need to rent out RM3550 in order to cover the monthly commitment.
You think this is a good investment??
Bro, IMO, financial portfolio is very important to determine whether this is pure do-able investment.
If any of my friend, wanted to buy this GEO Residence for investment, and looking at stretch 90% loan for zero downpayment and for 35 years and trying to expect that the future rental can 100% cover the full monthly installment + monthly maintenance fee, I would strongly urge him not to buy.
I believe that we may be positive in every products we are buying but also we must determine at risk management and prepare or plan to accept if there is any market drop where the price could be stagnant and rental price could be windfall. If we able to sustain this ( if it is coming ), I am sure it would be a clear winner.
Even though I am only eligible for max 70% loan and 35 years max. I only considering and prepare to accept the future lower rental yield of say RM 2500 per month and able to have such fund to top up btw RM 500-1000 for at least 2-3 years to flip it off for greater capital appreciation.
In my limited funds, when ever I have my prop VP, I always prepare to accept lower rental yield as long as it can be let out faster and easily subject to the tenants quality.
Certainly we can predict Sunway is going to be another level of amtured city by 2017-18 but certainly, we must be well prepare as RM 800-900 psf price product isnt easy.