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> ARTE-S,PENANG, NEW LAUNCH CONDO,SHL I JOIN GROUP BUY?

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rachel_xxx
post Jul 13 2014, 05:42 PM

Look at all my stars!!
*******
Senior Member
2,294 posts

Joined: Sep 2009
QUOTE(meveryday @ Jul 10 2014, 12:21 AM)
Agree. I'm not familiar KL market.

Just compare FREEHOLD only in PG island,
*(i will never touch leasehold property coz no banker willing to loan after left only 60 yrs lease)
*(my banker advise me never touch property outside PG island,like butterwork)

For subsale, the middle class condo range about RM600 per sqft

For new launch,middle class condo like ARTE-S range about RM700 per sqft

I hate paying high price except for value buy.

My concept very simple, i no scare paying high $, just scare It's a liabilities(negative cashflow,keep on outflow my $ from my pocket every month)

So my plan for my new booked ARTE-S as below:

Est. Net Monthly Installment bank loan+Management Fees+Assessment= RM2,000 per month.
Hence, for service apartment price per day= RM350 per day.
==> Lease for 7 days=RM 350 x 7 days=RM2,450
==> RM2,450- RM450(misc charges)=RM2,000
==>Break-even every month

it's legally for service apartment leasing since it's commercial title,freehold.

good location coz walking distance to USM, USM convo hot peak season -Apr,May, Aug,Sept

EXIT PLAN: sell after 10 yrs with target min ROI 500%
Area : 610sqft, hill & seaview, 2R2B, RM442k++
My total investment: 5% booking RM22K++
My target selling price after 10 yrs: RM560K to RM 670K

Scenario 1
Net Profit after 10 years : RM560k- RM442K= RM118K - 8K for misc charges = Net RM110K
ROI after 10 years : RM110k/RM22k = 5x or 500%

Scenario 1
Net Profit after 10 years : RM670k- RM442K= RM228K - 8K for misc charges = Net RM220K
ROI after 10 years : RM220k/RM22k = 10x or 1000%

If u check service apartment rate around that area, u will know with ARTE-S, new condo, new facilities, good location, it's very conservative can lease RM450-RM600 per day at year 2017

But i just desperate want to break-even, so with RM350, i'm very very comfortable can lease at least 7 days per month, or 3 full month per year to achieve RM0 installment for a period of 10 years.
*
you no count fully furnish it ala hotel standard

you no count the progressive interest?

 

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