Can you believe this? No bidder at 300k just now.
Further price drop. Now at 7th round auction.
Updated details as below:
T3-13A-12, Pusat Perdagangan Icon City
Reserve price 🔥🔥RM270,000🔥🔥
Leasehold until 2113
745 sqft (duplex unit)
Auction:  In Aug 21

Hi guys. Im buying an office lot for cashback. Currently serving loan n maintainence is around 3500/month.

Office rental very low at current situation. So i was thiking to do some renovation and rent it out as theme home for AirBnb. Its 1000sqft open space. That way i can manage the installment.

Question is. Is there any issues converting office space to a theme home doing airbnb?

Empty 1.5k
Furnish 2.5k

Yaa. Hard to find tenant plus rental very low. Thts why decide to convert it to airbnb.

Personally i think the building is good looking brand new. And the location is central. Easy access.

830k spa. 350k cashback.

Can get a good size unit at below 500k from the lelong market.
Another lelong unit sold today.
Drop from 600k.
Sold at 3rd round re-auction at 486k. Single bidder won unchallenged.

Another lelong unit sold today.
Drop from 420k.
Sold at 4th round re-auction.
Single bidder won unchallenged at 306k.
Bumi lot unit.

2 bedroom lelong unit sold today.
Drop from 300k.
At 4th round re-auction.
Single bidder won unchallenged at 218,700.

What is the status of this project?
CCC? VP? Abandoned?

Anyway, got a cheap lelong unit check in.
Sold previously at 177k but seems like the winner fail to complete the name transfer.
Re-auction again details as below:
20-06, Menara Montena
Reserve price 🔥🔥RM159,500🔥🔥
Leasehold until 2104
603 sqft (SOVO)
Auction: In Aug 21

Where’s Adrian wee now

Friend A - buy property at 630k early 2020. 3 months later, developer give further 10% and MOT waiver, lost 90k. After nego, take back 25k.

Friend B - buy property at 530k mid of Aug 2020 which is about 20% below market rate (c/w 4 car parks) - good buy.

Friend C - buy property at 630k Sept 2020, developer give discount 100k, S/P price 800k. Previous buyer lose 100k and very good S/P price.

Me - buy property at 810k developer give 145k discount but S/P price 660k (I stupid, should demand for higher S/P price, rush to sign paper due to HOC expiring on June 2020). 

All the properties are in Penang island…

Surviving the Pandemic

Christopher Tan, 47, is one of many property owners who have had to let go of their properties during the pandemic.

As global travel came to a halt, Tan, who resides in Singapore, lost his job as a pilot in June last year.

To sustain his livelihood with his wife and two children, he had no choice but to offload his apartment in Cyberjaya last August.

"It was a difficult decision to make but that was the fastest way to get some cash although it was at a loss. I bought that apartment for RM826,000, but sold it at only RM450,000," he said.

https://www.thestar.com.my/business/busines...-pandemic-bites

I bought 2 properties with S&P 20% above market rate.
Never felt so trapped in my life, althought got 170k cash back/property.

S&P RM660k but market price RM400-440k now how to sell? at least fully tenanted.. still a really bad decision, as I hate paying for condo management fees.

Y so easily fooled by bodo property guru(in fact not guru But idiot) agent that in cahoot with developer jack the price up? You So stupid believe What they say?

I a bit curious why so many lelong unit for this MK?
Due to the previous owner drop of income? even Moratorium 1.0 and 2.0 also can't save them?
Or these are those owners used compress loan to buy it, it over their ability when market is bad (like now, rental income drop, can't sell out).

Tons of online gurus will advise you to buy prop as much as possible to hedge against shit...lolx

This project sold with gigantic cashbacks and rebates as well as a GRR scheme. Many saw it as free and easy money except it wasn't and soon a fool and his money was parted.

Ya seriously regret my decision, compress loan kills those without financial literacy..

Thank god I’ve have some businesses to help sustain this, thought I took moratorium to help with cashflows and tenant suddenly move out.

But then, I dont think I’m gonna ever sell at breakeven from loan ever again, the current market price for the condo I’ve bought is shit.

Dude, I was stupid back then just fresh out of uni..

Wanted to live the lavish life, drive nice cars be rich..  due to so many brainwashing, now that Im older.. really wanna slap myself.

Property bubble so many signs but till now haven burst..

2016 till now.. when only burst?

Property bubble so many signs but till now haven burst..

2016 till now.. when only burst?

Dude, I was stupid back then just fresh out of uni..

Wanted to live the lavish life, drive nice cars be rich..  due to so many brainwashing, now that Im older.. really wanna slap myself.