Buy sub-sale with RM 60k cash, i think the amount is decent enough as downpayment but unpredictable. RM 60k cash upfront, many executives age below 30 might unable to fork it now without the parents' help but there are also a lot of people able to fork out such money of RM 60k till RM 100k to buy first first house and also upgrade from existing house where, they can use the fund for renovation and furnitures and etc.

Setiawalk recently has a lot of units leong? Is that true? Profit consider good dy still can get lelong, and not tat no demand at all thats weird. Is that retails or apartments? If retails I know lah, got few units previously, but sapu-ed dy.

Ya, I just check it but 0 properties appeared in the propwall. Only has shoplots as below via iproperty ads ;

===================================
= = = BANK AUCTION PROPERTY = = =
===================================

BANK LELONG!!
- One of the most popular property in Setia Walk, Puchong!!

-- FREEHOLD
-- Below MARKET VALUE
-- High value appreciation
-- Ideal choice for investment
-- Good location

Grd Floor - 1859sf - RM1,800,000
1st Floor - 1929sf - RM1,300,000
2nd Floor - 2899sf - RM1,000,000
3rd Floor - 2899sf - RM1,000,000
4th Floor - 2899sf - RM1,000,000
5th Floor - 2740sf - RM950,000
6th Floor - 2740sf - RM950,000


~~Reserve Price : RM 950,000.00 - RM 1,800,000.00

~~Property Type : Office/Retail Lot

~~Property Area : 1859.00 sf - 2899.00 sf

~~Auction Date : 15-08-2013

~~Address : [contact agent] , Block I, Setia Walk, Persiaran Wawasan, Pusat Bandar Puchong, 47160 Puchong, Selangor

Few months back, I did checked with 2-3 banks whether has such auction props and could let me informed or posted.

Normally, newly completed condos rarely have such quick auction props where the owners know that if he sell at the cheapest price compare to other available units, he still can cover back the loan with the bank and got untung somemore, wonder why they risk their names and go MIA without paying. If few million ringgit condo, then a lot happened in MK.

I don't think it is buy back from SP Setia bcz if it do, bank will informed them and SP Setia will straight nego with the bank before the bank has time to appoint the auction realty to sell for them. Moreover, exisitng clients and whoever got kang tao with banks, banks management, bank's existing clients or auction agents sure sapu first.

Yes, make loss is a lot much better than go MIA and put ourselves into trouble with bank's summon and bankruptcy. I only dont understand the owner, who I reckon he bought it at RM 300k+ from developer and market now RM 500k+ say with fierce competition, if his financial in trouble, he should well understand the market of Setiawalk which is quite do-able as long as he is not too selfish and too greedy, say open price at RM 450k ( or RM 50k below any other offer price for same size ), I am quite sure the unit would be quickly taken by the agent himself, his close friend or investor before public viewers.

For the commercial, I can see the level 1 is not too struggling but upper floors are very struggling with water above the nose. But ground floor is doing quite well, so I think at RM 1.8mil is quite a good price if only opts for strata unit ground floor only.

There were 4 units were up for lelong last year or early this year, and very quickly it had been bought by the bank's existing clients without involving the auctioneers.

It's part of my strategy but not using it always, or yet bcz I duwan the risk of being 10% forfeit as I have very very difficulty to get loan.

For some newly completed condo / landed or some good properties, I will asked some bankers whether is there any unit of such projects listed into auction soon, so I can rty to conclude the deal without having to auction it.

The biggest missed was a 22x80 USJ 11 linked house very early last year which I can conclude at RM 480k before it goes auction. It valued at RM 580k that time although the house never renovate at all but USJ 11 is one of the best taman in whole USJ. I still hesitate to enter lelong unit although I know I can easily gain RM 200-250k in early flip.

I did more interested into buying bumi units with condition of not so hard to convert to non bumi units, where I always seek my lawyer advise. Probably I a bit pantang lelong house.

A lot of people playing auction units for renovate and flip or for long term rental because most of the auction units normally older houses.

Not much people play both lelong and bumi lot game, as it really required a lot of network and connection for the fruits harvest nicely.

I like the idea of buying bumi lot, which the consent from the state office is able to carry on with the deal in 1-2 years time, I am fine, as long as it can be transferable, i would be very happy bcz I buy a bumi lot at August 2013 price and can nego summore, which is a lot lower than non bumi unit but if the deal is done and settled by 18 months later, say Feb 2015, key collection and starts monthly installment, the unit would be appreciate more where the value is the value of non bumi by Feb 2015 but the deal is just concluded at the price of bumi lot at August 2013. Anyway, rare deal and not easy. Hehehehe.

Definitely wont. The banks only will filter your upcoming loan applications as investment purpose, but as long as you made prompt payment and pay the bank exit penalty, they can't blacklisted you.

Tax? Definitely. It is part of the issue which I am learning now. But I definitely never run from government tax or RPGT Tax.