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> ONE COCHRANE RESIDENCES [MRT PROPERTY], Next to IKEA and Ikano Megamall + Hotel Investment

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zack.gap
post May 29 2020, 05:35 PM

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QUOTE(hazwan_zohdi @ May 29 2020, 04:42 PM)
If like this the current rental rate, how to get breakeven?
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Personally for me lah, I would buy this project only for own stay. Low density + amenities + location is quite good.

Only problem is the relatively high cost and maintenance fee but for own stay this should not be main issue.

For investment purposes, this project is completely out for me. Better off buying the various projects at Maluri for investment purposes. If really die die want to invest at Cochrane I recommend waiting for the empty lots surrounding One Cochrane to be developed/launched and then can strike.

This post has been edited by zack.gap: May 29 2020, 05:37 PM
stephdreamcloud
post May 29 2020, 08:06 PM

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ok i should provide more complete infos. so here it goes, check them out , for those who wana do own research.

Projects nearby to compare, current value (take note on sqft)
https://www.iproperty.com.my/sale/klcc/all-...operty=Continew

https://www.iproperty.com.my/sale/all-resid...ial/?q=Velocity

after looking at the numbers, i felt that the price of OC is more fair, if intend to do investment, keep and sell for capital gain. again im not doing recommendation, my pov.

Rental potentials: (check out the median, average or which ever way u prefer) for me, i won't look at too low or too high (some even goes up to 4k, i prefer being more realistic but not pessimistic)

https://www.iproperty.com.my/rent/all-resid...ial/?q=velocity

https://www.iproperty.com.my/rent/kuala-lum...nway%20Velocity

of course, these are completely different projects. but even property gurus use nearby projects to compare rite.

tbh, due to personal preference, i wont buy for own stay la. i will buy for investment, because of the upcoming trx. also, it's no my preferred area - more to further away from city the better type innocent.gif
all the best and happy analysing. hope this helps.

for those who pm-ed, to be fair, i did provide more detailed analysis because some are P&C and only for serious investors.

icemanfx
post May 29 2020, 08:13 PM

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QUOTE(stephdreamcloud @ May 29 2020, 08:06 PM)
ok i should provide more complete infos.  so here it goes, check them out , for those who wana do own research.

Projects nearby to compare, current value (take note on sqft)
https://www.iproperty.com.my/sale/klcc/all-...operty=Continew

https://www.iproperty.com.my/sale/all-resid...ial/?q=Velocity

after looking at the numbers, i felt that the price of OC is more fair, if intend to do investment, keep and sell for capital gain. again im not doing recommendation, my pov.

Rental potentials: (check out the median, average or which ever way u prefer) for me, i won't look at too low or too high (some even goes up to 4k, i prefer being more realistic but not pessimistic)

https://www.iproperty.com.my/rent/all-resid...ial/?q=velocity

https://www.iproperty.com.my/rent/kuala-lum...nway%20Velocity

of course, these are completely different projects. but even property gurus use nearby projects to compare rite.

tbh, due to personal preference, i wont buy for own stay la. i will buy for investment, because of the upcoming trx. also, it's no my preferred area - more to further away from city the better type  innocent.gif 
all the best and happy analysing. hope this helps.

for those who pm-ed, to be fair, i did provide more detailed analysis because some are P&C and only for serious investors.
*
As if overhang is immaterial.
lowyatlau
post May 30 2020, 10:33 AM

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Anyone can share their smaller layout size again at here? As too long already can't really recall what is the size of smaller there.
stephdreamcloud
post May 30 2020, 11:30 AM

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QUOTE(lowyatlau @ May 30 2020, 10:33 AM)
Anyone can share their smaller layout size again at here? As too long already can't really recall what is the size of smaller there.
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user posted image
user posted image
user posted image
user posted image

Hope this helps
DesRed
post May 30 2020, 04:19 PM

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More details can be found at the One Cochrane Residences official site.
RickyWong83 P
post May 31 2020, 09:42 PM

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QUOTE(al_madd @ May 30 2020, 07:20 AM)
hai..can you give a rough estimation

how many % buy for own stay and how mana % buy for investment?

thank you
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Hi madd, I rough estimate around 65% Own stay. many are foreigners buying too but buying for own stay purpose. smile.gif
al_madd
post May 31 2020, 09:51 PM

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QUOTE(RickyWong83 @ May 31 2020, 09:42 PM)
Hi madd, I rough estimate around 65% Own stay. many are foreigners buying too but buying for own stay purpose. smile.gif
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okay..if that so...that will be interesting facts..

65% own stay would be a good indicator for investor at OC












layout for OC 3 Rooms quite nice...1227sft size

but due to high maintaince fee..montly need to pay around 750...adoiii

This post has been edited by al_madd: May 31 2020, 09:55 PM
garyming9191
post Jun 1 2020, 12:17 PM

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Location good but low rental, why ah?
zack.gap
post Jun 1 2020, 01:11 PM

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QUOTE(garyming9191 @ Jun 1 2020, 12:17 PM)
Location good but low rental, why ah?
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Demand issues;
1) Currently bad economical conditions
2) 'Booster' for the area aka TRX and surrounding business area isn't 100% fully developed yet
3) Cochrane itself is an untested market. One Cochrane is the 'pioneer' of the area so not sure if demand is there.

Supply issues;
1) Too many upcoming properties to choose from. Expecting one MRT stop away at Maluri to have circa 5k-7k units in 2-3 years
2) Empty plots surrounding One Cochrane that could potentially be developed by other developers (if Boustead sells) who aren't so gung ho about low density, premium market offerings.
icemanfx
post Jun 1 2020, 01:18 PM

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QUOTE(RickyWong83 @ May 31 2020, 09:42 PM)
Hi madd, I rough estimate around 65% Own stay. many are foreigners buying too but buying for own stay purpose. smile.gif
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How you estimate 65% bought for own stay not for flipping? how many foreigners bought?

RickyWong83 P
post Jun 2 2020, 05:08 AM

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QUOTE(icemanfx @ Jun 1 2020, 01:18 PM)
How you estimate 65% bought for own stay not for flipping? how many foreigners bought?
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How you estimate I could able to know estimate the actual figure? asking all the Owners 1 by 1? bruce.gif

Just a Personal prediction la
cy91
post Jun 2 2020, 10:20 AM

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QUOTE(zack.gap @ Jun 1 2020, 01:11 PM)
Demand issues;
1) Currently bad economical conditions
2) 'Booster' for the area aka TRX and surrounding business area isn't 100% fully developed yet
3) Cochrane itself is an untested market. One Cochrane is the 'pioneer' of the area so not sure if demand is there.

Supply issues;
1) Too many upcoming properties to choose from. Expecting one MRT stop away at Maluri to have circa 5k-7k units in 2-3 years
2) Empty plots surrounding One Cochrane that could potentially be developed by other developers (if Boustead sells) who aren't so gung ho about low density, premium market offerings.
*
Nowadays developer must go for super high dense with small units to easily sold out rclxm9.gif
SongChiang
post Jun 2 2020, 10:24 AM

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QUOTE(RickyWong83 @ Jun 2 2020, 05:08 AM)
How you estimate I could able to know estimate the actual figure? asking all the Owners 1 by 1?  bruce.gif

Just a Personal prediction la
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can simply say ah if wrong then just prediction ma lol
johnsonlim777
post Jun 2 2020, 10:47 AM

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This post has been edited by johnsonlim777: Jun 20 2020, 11:32 PM
Jagalat
post Jun 2 2020, 11:55 AM

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QUOTE(johnsonlim777 @ Jun 2 2020, 11:47 AM)
Remember the universal rule: those who can't do, teach.

Most 'property gurus' in the market have maxed out their personal loan quotas to fund new property investments. So the only way they can keep generating new revenue is via commissions, seminars and one-on-one consultations. So essentially these 'property gurus' are celebrity sales agents.

This is how Faizul Ridzuan's business model works-

a) Faizul Ridzuan Private Group (FRPG): free group- Similar to introductory public seminars/talks like the Road to RM3m seminar, he will upload weekly/monthly videos on analysis on areas and grading of properties. Wonder why he's not charging you anything? Well this is a cheap marketing funnel to influence and entice you to buy his other products. At the end of every video, he will project slides on his products, entice people to join his VIP seminar/ participate as a client to get more 'benefits' via his bulk purchase groups (7 and 8 Digit Club).

b) One-on-one consultations- If you need to see him, chances are your property selections are shit/ bleeding money. At the end, he will either encourage you to: join as client/ seminar/ 7 & 8 Digit Club bulk purchase group since you're so bad at selecting properties yourself.

c) Millionaire Employee Blueprint- This is a group where he uploads a few additional videos on loans, insurance and case studies for an additional few hundred RM.

d) Bulk Purchase Groups (7 and 8 Digit Club)- He will excite you by saying that you can purchase properties at a lower/ "special/insider" price than the public due to his direct connections with developers. Then he will say his main clients (FAR Capital clients) get priority first so you might miss out on good units and don't make as much money as them. So you become his client.

e) Value Investing Property (VIP) seminar- His partner, Amanda will spend half a day going through interior designs. She will project beautiful designs of successful properties. Guess who carried out those renovations? Faizul's interior design firm (Makeover Guys). At the end of his VIP seminar, he will also give you a snapshot of what his clients are purchasing and drop hints that his clients are making alot of money. If his clients managed to buy a property at say RM600psf and it gets launched at RM700psf to the public, he will go all out and promote that his clients made RM100psf of paper gains.

f) Interior Design firm (Makeover guys)- During the VIP seminar and if you're his FAR Capital client, he will recommend his interior design firm, Makeover Guys so that you can rent out your units as quickly as possible.

g) Social media- Each post is designed to influence public opinion to his advantage and funnel sales towards his seminar + property recommendations. He will put statistics to show how capital appreciation for house prices exceed stocks in Malaysia. He will also highlight how accurate his predictions are when a particular event happens. From time to time, he will put posts on how well his clients are doing (when in reality they are just making paper gains due to their low entry price/ "bulk purchase price"). This is designed to increase his public profile and 'showcase' his skills.

h) FAR Capital clients- He will 'encourage' you to purchase multiple properties at once to maximise your limited "loan quota". He will ask you quickly do multiple submission as central banks will be closing this loophole. In the client agreement, he will insert clauses that state that you will have to pay him a certain amount if you do not purchase properties via his company, FAR Capital. He will say that you are not really spending money because 2% sales commission of the property will be refunded to you. Typical firms such as GS Realty- customers pay the agents a fee when they actually want to buy the property. However for FAR Capital- clients pay them for getting a list of what they are selling + fee when they actually want to buy the property. This is double dipping from both buyer and seller side. Additionally, he knows how the herd mentality concept works, so he will say that if you do not sign up as a client quickly, you might not have access to good units (better view, floor, etc) as they will be taken up by other clients.  The client agreement is heavily one-sided towards FAR Capital, he will put in non-disclosure (NDA) clauses to scare clients. In Malaysia there are plenty of laws but the problem we have here is enforceability. It is extremely hard to invoke this clause when the subject concerned is a property that is accessible to the general public and when the information is shared across so many clients. NDA clauses are mainly for trade secrets, company specific info or personal information (marital affairs). There are alot of clients who got burnt because they couldn't share their side of the story as they were scared of this NDA clause. Take note that FAR Capital is not responsible for any potential losses.

i) Commissions from property developers- This is where I think he makes the real $$. Most of his property recommendations are less than RM1m per unit. Assuming it's RM500k, a 2% cut is RM10,000 per unit. Previously he was very against cashback properties but right now I understand that he's promoting one right now (One Cochrane). Cashback are basically marked-up products with discounts. He will tell you that the property will have negative cash outflows at the start and your property will always double/triple in 10-20 years. Well even if it does double/triple in 20 years time, will it be easy to find a buyer and cash out? will you yourself buy a 20-year old condo? If a property is full of investors vs own-stay buyers, supply > demand, do you think you can fetch a high rental when everyone is being coached by the same person and use his ID firm? What would be your competitive advantage for your own unit then? 

A top property development sells itself. If you’re a property developer and you know that your units are high in demand and will sell well:
- Will you hire an external agent (pay him millions in sales commissions) to help sell your units?
- Will you enter into underwriting agreements (a form of insurance to guarantee sales) with third parties/ sales agents?
- Will you give a significant/ bulk purchase discount to attract buyers?
There's a reason why property gurus focus on condos and new launches. Because it is the only type of property class where they can generate huge amount of commissions in one go. 

Claims of owning multiple properties- He released a book titled '23 properties by 30'. You are the owner of a property even if you own 1% of a property. Do you really think that he owns 100% for all of those properties?

Client/student testimonials- If you go through his success stories/testimonials, the only stories you can find from his students are: how much his students bought at (vs market value) or how many units they purchased simultaneously. The real success story is when your students managed to exit their investment at decent returns, so the real success metrics are like sold property at ROI of xx% within x year, etc.

Takeway- do learn the theories/concepts from him, but don't listen to his property recommendations as he has vested interests in them (needs to generate fees from commissions when a client purchases a property via FAR Capital)
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Seem like you have some insight.
Curious if you are a member of the group/ one of his clients...
(Me not agent nor a member and not a client)
stephdreamcloud
post Jun 2 2020, 01:38 PM

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I do agree on ur points especially especially on doing ur own judgement, taking theories and concept while formulating what works for ourselves especially how he does his analysis (even his book shared more genuine insights). And I have to say all these can’t be mastered within short period of time but through trial and error and experience.

Do own homework, make own judgement, but then don’t be too pessimistic or clouded by others criticism. Keep researching. But don’t forget to take action too. Because good opportunities don’t wait for anyone.
icemanfx
post Jun 2 2020, 03:45 PM

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http://idaman2.kpkt.gov.my:8888/idv5/98_eH...NE%20RESIDENCES

<15% sold so far

SongChiang
post Jun 2 2020, 04:41 PM

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this fella actually go paste stats in every development.
icemanfx
post Jun 2 2020, 04:43 PM

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QUOTE(SongChiang @ Jun 2 2020, 04:41 PM)
this fella actually go paste stats in every development.
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Public service

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