if covid oso dont cause bubble nothing will

bubble? what bubble?

Hi mini orchard.

I recently bought a shoplot via open tender at my place for less than 47% of the force sale value (which is already 30% off the market price). I was able to get it because I was the only bidder. Unlike a lelong, I get to view the inside of the property before making the bid. I am able to use it as a warehouse for my family business - monthly instalment is even cheaper than renting a shoplot of the same size. On top of that, I get to rent out the 2nd and 3rd floor. I think that is good value. I think there will be more opportunities like this coming soon due to Covid induced insolvencies.

Also, whether an asset is "good" is relative. Granted the property is not in prime location, but it is of value to me. Maybe projectors and airconds are useless to you, but it might be useful for someone else. Plus, you won't know what assets are there to buy until the liquidator do an open tender. They might have properties like what I got, golf club memberships etc that you are not aware of. And MBO is likely not the only company going to be liquidated. If the company undergoing liquidation is in the same business as you are, you might even get something more useful for cheap.

Again, if you have no knowledge or experience in doing this, please refrain from making condescending remarks. If you have no interest in learning more about open tender, perhaps you can stay away from this topic. I am trying to share opinions and learn more tips from people who had experience in tendering/negotiating with liquidators.

Thank you.

2 units sold today in the lelong market.

Studio unit from 171k sold at 185k.
&
982sqft unit sold at reserve price 303k. Single bidder won unchallenged.

Good catch. All way below launching price.  :thumbsup:

Good time to buy now or still need wait ?

Buy when blood is knee deep on the floor.

Now blood is everywhere

However, some still can't see the bubble.

believe 2h/21 will be worse.

So should I mark your word u will buy 2h next year ?

Gg.con.my..

Prop has officially crashes

Your best friend say second half next year

Any good deals for this property in the lelong market?

Another dirt cheap lelong unit check in from here.
This time is from SOVO block. Office unit.
First round auction was at 600k.
Currently at 8th round re-auction. 50% off.
S1-30-01, SOVO, D'sara Sentral
Reserve price 🔥🔥RM301,300🔥🔥
Leasehold until 2112
960 sqft (end lot unit)
2 car park lot
Auction: 18-Nov-2020 (Wed)
*Vacant brand new unit

S&P price of this unit = 906k.
Defaulter owner took 80% loan. (78% out of 906k for finance, 2% for legal fees).
Mean loan amount is = 725k.
Owner making a loss of 450k here.

Monthly maintenance fees for this unit size is RM400.
Now at 9th round re-auction.
Dirt cheap price.
S1-30-01, SOVO, D'sara Sentral
Reserve price 🔥🔥RM271,200🔥🔥
Leasehold until 2112
960 sqft (end lot unit)
2 car park lot
Auction: 02-Dec-2020 (Wed)
*Vacant brand new unit
*BUMI lot

S&P price of this unit = 906k.
Defaulter owner took 80% loan. (78% out of 906k for finance, 2% for legal fees).
Mean loan amount is = 725k.
Owner making a loss of 450k here.

Monthly maintenance fees for this unit size is RM400.
Now at 9th round re-auction.
Dirt cheap price.
S1-30-01, SOVO, D'sara Sentral
Reserve price 🔥🔥RM271,200🔥🔥
Leasehold until 2112
960 sqft (end lot unit)
2 car park lot
Auction: 02-Dec-2020 (Wed)
*Vacant brand new unit
*BUMI lot