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Investment EKOCHERAS @ JALAN CHERAS (Ver 3) [MRT PROPERTY], Where Cheras becomes Mont'Jiulai

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mybenz
post Mar 10 2015, 08:39 PM

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anyone know this hotel suites is how many stars?

received the voucher today.

this saturday what time go to Q taikos here?
mybenz
post Mar 10 2015, 11:23 PM

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QUOTE(ruben7389 @ Mar 10 2015, 10:30 PM)
Tried to call the developer but theyre very tight lipped... anyone know:
Is this furnished or partially?
is the grr 6pct of purchase price? What happens after the initial grr period?
Maintenance fee?
Furniture replacement bourne by?

info I got were:
Panel bank so far maybank hong leong public n ocbc
pricing starts 200k onwards (hard to believe)
Everything else they say will be announced on sat
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Not much info.. Saturday will know.
If want to know go on Saturday early morning and Wait outside..
You don't know ekovest is famous of kungfu finger story from propcafe . It is quite well known in industry...

Got GRR or not also not sure... 10%?

This time price from 200k sure no brainers lot of existing buyers waiting outside to parang this cheras hotel

All your questions everyone wants to know but when u know I think finished already lol

This post has been edited by mybenz: Mar 10 2015, 11:25 PM
mybenz
post Mar 10 2015, 11:42 PM

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Who want KFC voucher? It is for sale here... Price negotiable 😂
mybenz
post Mar 11 2015, 10:03 AM

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QUOTE(Babizz @ Mar 11 2015, 09:04 AM)
google propcafe ekocheras  biggrin.gif
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😂
mybenz
post Mar 11 2015, 01:04 PM

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QUOTE(MrHunter @ Mar 11 2015, 12:15 PM)
Yes or No. All answers need to be stipulated clearly in SPA.

On top of the list above, question below need to be answered too.
Strata title for each unit? Some hotels they dont issue strata title.
How many years of GRR?
If the subsidiary company who responsible for GRR ceased to operate, what would be the issue to buyers under the scheme? Especially they pay higher price and furniture cost than the rest for the lock in on GRR for x years.
Water point available to do a small pantry in the unit?
How many stars is expected on this hotel. Stipulated in SPA?
Hotel Operator MoU signed?
Many many more to clarify. More complicated than buying any other properties as many uncertainty involves.
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Yes.. So many unclear questions.
Buying hotel is more complicated than just buying a normal residential or commercial.

This is another type of property investment.

A rare one indeed at cheras area.

Normally more to city center.

If ekovest can't answer all this how do they expect buyer just to simply plunge in the money.
This is a high risk investment. Even some back don't like to be EF for hotel.
Better make sure EF is ready and whats the package like..
Wise later only 60% mof of course there are buyer with cash rich.

So many questions mark and no black and white or any marketing kit or website anything. Just launch like this 😱

I think ekovest want to be mall operator and hotel operator .. want to manage these two where they have no experience in doing so is too ambitious. They just know how to build but to manage hotel and mall emmm..
can see now the mall no sign ..quiet..after one year .. who is tenants? bank? starbxk? tgv? gsc? mcd? kfc? uniqlo? all no sound..

if the management of the hotel and mall become bad.. even eko klcc also can die smile.gif

This post has been edited by mybenz: Mar 11 2015, 01:46 PM
mybenz
post Mar 12 2015, 07:50 PM

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received eko hotel sms spams everyday nod.gif
what you guys think? sold out or not?


mybenz
post Mar 12 2015, 07:57 PM

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QUOTE(restful increase @ Mar 12 2015, 06:57 PM)
all questions on the hotel sale will b answered this sat..
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by the time when all knows... maybe gone already.

restful gor.. you are our ekc captain. what you think?
mybenz
post Mar 13 2015, 02:36 AM

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QUOTE(restful increase @ Mar 13 2015, 02:26 AM)
i m not into GRR investment. reason is ur rental is fixed. it is good for d 1st owner as ekc will probably make sure they pay enough to ngam ngam pay ur mthly mortgage payments. However if u wanna flip to the 2nd buyer and obviously u will be selling at a higher price to d 2nd buyer and hence will attract a higher mortgage payment for the 2nd buyer. The grr will not be able to cover the 2nd buyer's payment. It will get worse for the 3rd buyer. Mortgage repayment goes up and grr amount remains d same. Such investment is only good if u hv spare cash to stash at an investment for long term worry free as the grr should cover ur mortgage payments, but u may hv difficulty flipping the property for capital appreciation. This is my take. Maybe Jagalat-kor can give his perspective as well...
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2nd or 3rd buyer won't buy if the rental doesn't cover or more than the cost of financing. Why would someone buy a investment product if the return is negative?
Hotel is different from house I think because house even the cost of finance is higher than the rental but people will still buy because of capital appreciation and can live in for long term.
As in for hotel, can't be living in long term. Technically hotel is not a house.
mybenz
post Mar 13 2015, 06:23 AM

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QUOTE(restful increase @ Mar 13 2015, 02:37 AM)
and as 1 other writer commented, d grr is as good as d company which promises to pay. Ekocheras will incorporate a new company to make this promise. u got to at least check what is the compay's paid up capital amount. If company bankcrupt for whatever reason, the listed parent company (Ekovest Bhd) is not responsible to continue paying u the GRR.
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The possibility is there... But if it's the case ekovest name will go into the drain.. And most all their project yet still to be launched....i personally think ekovest doesn't want to see this happen.. Otherwise all their future launches and the mall will be affected
mybenz
post Mar 13 2015, 06:28 AM

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QUOTE(restful increase @ Mar 13 2015, 02:39 AM)
Yes, u hit the point right at the nail.
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Let's put the grr aside because never been said there is grr at this point. What about if without grr?
Self manage as per individual Strata units.. Just like a normal service suites of course only a room.. Can lease it montly like 1.5-1.6k? If this the case it will cannibalize into the single room Soho and apartment market being the lowest entry!
Well that if the hotel come w a pantry to sustain a loong term stay.... If this the case then worth to consider
mybenz
post Mar 13 2015, 06:57 PM

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QUOTE(Jagalat @ Mar 13 2015, 09:58 AM)
Below are the questions collected so far (I may miss some).
Feel free to add/edit/answer and refer to it tomorrow.
(A) Hotel Overall
(1)How many stars is expected on this hotel?
(2)Strata title for each unit?
(3)Full furnished? Fully Furnished
(4)Any available water point to do a small pantry in the unit?
(5)What is the price(psf) increased per floor?
(B) GRR package
(1) GRR or not?
(2) If GRR, what is the %?
(3) GRR for how many years?
(4) What is the ROI of 1st year, 2nd year, 3rd year until expiry?
(5) How much is the maintenance fee?
(6) Who pays maintenance fee?
(7) What is the renew package after GRR expired?
© Hotel operator
(1) Who is the operator?
(2) What is the Hotel Operator's paid up capital amount? (just to know its background)
(3) Hotel Operator MoU signed?
(4) Who to pay furniture replacement? Owner?
(5) In case of the Hotel Operator who responsible for GRR ceased to operate, what would be the issue to buyers?
(D) Expenses
(1) When is the next draw down?
(2) What is the GST calculation along the construction period?
(E) SPA
(1) Are all of the above details spelt in SPA?
(2) Else, which one is not spelt?
(3) Free SPA legal fee, etc?
(4) Free loan legal fee, etc?
I have yet decided to attend(still 15/16).
If any daikor/boss can reply with answers tomorrow, the picture will get a whole lot clearer.
Thanks up front.
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Good sum up taiko. I support u sending this question to developer! But I doubt they have all the answer. And u belive me.. They will still sell even though they don't have the answer for all the questions....

mybenz
post Mar 13 2015, 07:19 PM

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QUOTE(Jagalat @ Mar 13 2015, 07:14 PM)
As a matter of fact, many of my questions to developer since day one, were not answered.  cry.gif
I rely on the daikors/bosses of the forum to provide feedback/answer (especially those who can diplomatically liase with developer).

All the best to new/return buyers tomorrow. icon_rolleyes.gif
Have a great one!!  nod.gif
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Ya all the best...

Even though they answered but along the course they still can change... Just like ekc.. Initially no mall suddenly got mall.. Initially hotel self manage suddenly for sale.... Lol

Can't wait for tomorrow whether will b bbb or no one interest in this hotel... Probably while we still discussing here people already starts to book
mybenz
post Mar 13 2015, 10:51 PM

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QUOTE(Babizz @ Mar 13 2015, 10:28 PM)
I hope all the hotel details are released prior to the BBB mode tht will be activated tomoro. most important thing is the operator n GRR scheme.. if the hotel can reli be used fr ownstay, i think shld be not good for the hotel n ekc as a whole? all units shld be signed on with a grr scheme would be btr?
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Why if can be used for own stay no good leh?
I doubt they have any good operator. You know ekovest la. The mall also until now they have no strong management team or we'll known operator...
For the hotel i bet ekovest want to manage themselves lor
In the end all become potato
I agree the management of the hotel or so called is important. If like St Giles then ma become like St. Regis good lor if Best Western then ma become budget hotel lor.. If ekovest ma become Rumah tumpangan lor lol
mybenz
post Mar 13 2015, 10:53 PM

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QUOTE(HarpArtist @ Mar 13 2015, 10:21 PM)
If there was a international chain hotel operating here they would have spread the news far and wide by now to get ppl over tomorrow no?
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I guess so... Perhaps they really got nothing. I think dey too confident already after the Soho. Tomorrow they might hit lalat
mybenz
post Mar 13 2015, 11:31 PM

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QUOTE(HarpArtist @ Mar 13 2015, 11:21 PM)
1 future mrt stop away: silka hotel connected to cheras sentral.

any idea how it's doing?
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Not sure... The mall not doing well.. But vivatel is going good
mybenz
post Mar 14 2015, 11:37 AM

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Bbb!
mybenz
post Mar 15 2015, 04:32 PM

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QUOTE(Jagalat @ Mar 15 2015, 03:17 PM)
Anyone can confirm if the hotel swimming pool is located at the side as shown below, or at the back as posted in earlier posts?

user posted image
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Side as per model and latest brochure.
Boss whack only la.. 250k no need think so much
mybenz
post Mar 15 2015, 11:34 PM

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Hotel sales progress today? No more bbb market? Need viagra maybe..
mybenz
post Mar 16 2015, 11:16 AM

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QUOTE(HELLO HELLO @ Mar 16 2015, 11:07 AM)
Bare Unit for hotel suite?! be careful loh.... manyak manyak hidden costs.
when u tot u earn profit+extra. at the end all you earn dump back to hotel management for all kind of reason and upgrade. unlucky 1 sometimes need to puke out more cash.

my friend kena kaw kaw lik. he said worst among all his props investment.
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what kind of hidden cost? mind to share?
bare unit is self managed. only cost is the maintenance fee 0.5/sf
more like normal service apartment cost.
mybenz
post Mar 16 2015, 01:29 PM

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QUOTE(HELLO HELLO @ Mar 16 2015, 11:32 AM)
self managed hotel!? boleh jalan keh? since is hotel suite.
i think still need a control center to provide room service etc etc. changing this and that.
macam bed sheet, rubbish, bath towel, hand towel, foot towel etc. tedious small little things.

later manyak owners or maids need to run in and out everyday due to very very short terms stay.
macam 1-2 days.
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This one is hybrid .
those non GRR can use as service apartment type. Internal furnishing up to own.
Strata title. as usual others rulez governed by DMC maybe

for those services, can engage the management co if at the end of the day decided to do airbnb style.
or you can engage 3rd party external cleaning service.
Is totally up to you.
You want to rent out like a unit like 2 years contract or airbnb style and engage your own cleaning agency for daily , weekly, monthly etc

or you engage ekovest asset management team to do for u.

this hybrid concept is new to me too

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