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> RM 300k Property, RM 300k budget to invest

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aaron1717
post May 24 2017, 10:14 AM

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QUOTE(balistafear @ May 23 2017, 05:30 PM)
Seen the discussion above and like to add a few points:

1. Don't be selfish and invest in RUMAWIP. RUMAWIP is for own stayers. It's the governments initiative to address the younger generation's affordability housing issue. Yes, it may be in the RM200k-300k range. Yes, you may be lucky and operasi didn't catch you and end up renting for +cashflow. But remember one thing - for every one of you who does that, you might deprive another young married couple with a kid a house to call their own. Could have be one of our friends from primary school too, who knows. If you can afford to invest, then do it properly by creating value for future tenants, not by creating competition to genuine homebuyers. Just my 2cents. FYI, RUMAWIP required 10% downpayment. I've met clients who wanted to ballot for house but when asked to prepare RM30,000 cheque, all diam already. RM30k isn't small money.


3. Cyberjaya - I've a client purchased a property 290k and marked up to 380k for a clean 60k cashback (after minus legals etc). Recycled the money into ASB while he thinks what to do with it. That said, on a macro level, Cyberjaya aside from a handful of properties and a handful of strategies, for the most part the place is doing badly. Unless you can make 60k cashback as per above or other equally good winning strategies, I see very little reason to venture into Cyberjaya units.


*
anyway there is no actual clause in SNP to forbid you from rent it out.... its just a general statement in the rumawip website... and also it provide more option in the rental market with affordable condo with facilities with decent rental rate... private projects with facilities... cincai also need 400k above... some maybe 500k above for a 900 sq ft.... for those who cant afford the downpayment to own a house... rent is the only way.... and if you cant save downpayment... pls dont buy a house... even if its zero down.... otherwise can only stay in with tilam aje... since i doubt they can save for renovation fees...

cyberjaya is indeed oversupply for investment... the few hotspot rental rate also coming down already.... with more project VP in the coming years... rental rate will keep going down trend... cap appreciation for condo there basically nothing much to say already....
kochin
post May 24 2017, 10:16 AM

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QUOTE(balistafear @ May 23 2017, 05:30 PM)
Seen the discussion above and like to add a few points:

1. Don't be selfish and invest in RUMAWIP. RUMAWIP is for own stayers. It's the governments initiative to address the younger generation's affordability housing issue. Yes, it may be in the RM200k-300k range. Yes, you may be lucky and operasi didn't catch you and end up renting for +cashflow. But remember one thing - for every one of you who does that, you might deprive another young married couple with a kid a house to call their own. Could have be one of our friends from primary school too, who knows. If you can afford to invest, then do it properly by creating value for future tenants, not by creating competition to genuine homebuyers. Just my 2cents. FYI, RUMAWIP required 10% downpayment. I've met clients who wanted to ballot for house but when asked to prepare RM30,000 cheque, all diam already. RM30k isn't small money.


*
bro,
rumawip indeed is not for flipping. that much i agree.
given the scenarios of what TS posted, it was imho the best option for him would be to park some money into a rumawip due to eligibility.
i do not condone him to use the unit for leasing out (since it's forbidden anyway).
he should probably stay there if he could. renting out rooms is another matter altogether if he so wishes to pursue.
end of the cap period, he can sell the unit or keep it to lease then.

rumawip has proven to be quite good locations albeit limited facilities or finishing.
when it comes to property, it's still location location location.

while awaiting completion of rumawip (say 3 years), work your ass off to escalate your pay.
then only invest in other stuff.

good luck
balistafear
post May 24 2017, 10:27 AM

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QUOTE(aaron1717 @ May 24 2017, 10:14 AM)
anyway there is no actual clause in SNP to forbid you from rent it out.... its just a general statement in the rumawip website... and also it provide more option in the rental market with affordable condo with facilities with decent rental rate... private projects with facilities... cincai also need 400k above... some maybe 500k above for a 900 sq ft.... for those who cant afford the downpayment to own a house... rent is the only way.... and if you cant save downpayment... pls dont buy a house... even if its zero down.... otherwise can only stay in with tilam aje... since i doubt they can save for renovation fees...

cyberjaya is indeed oversupply for investment... the few hotspot rental rate also coming down already.... with more project VP in the coming years... rental rate will keep going down trend... cap appreciation for condo there basically nothing much to say already....
*
Very well said. Keep the great sharing coming guys, win-win for everyone thumbup.gif
balistafear
post May 24 2017, 10:29 AM

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QUOTE(kochin @ May 24 2017, 10:16 AM)
bro,
rumawip indeed is not for flipping. that much i agree.
given the scenarios of what TS posted, it was imho the best option for him would be to park some money into a rumawip due to eligibility.
i do not condone him to use the unit for leasing out (since it's forbidden anyway).
he should probably stay there if he could. renting out rooms is another matter altogether if he so wishes to pursue.
end of the cap period, he can sell the unit or keep it to lease then.

rumawip has proven to be quite good locations albeit limited facilities or finishing.
when it comes to property, it's still location location location.

while awaiting completion of rumawip (say 3 years), work your ass off to escalate your pay.
then only invest in other stuff.

good luck
*
Agreed, building upwards first on a strong foundation is key.
x132755
post May 24 2017, 12:03 PM

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MichelleSky
post May 24 2017, 01:41 PM

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QUOTE(aaron1717 @ May 24 2017, 10:14 AM)
anyway there is no actual clause in SNP to forbid you from rent it out.... its just a general statement in the rumawip website... and also it provide more option in the rental market with affordable condo with facilities with decent rental rate... private projects with facilities... cincai also need 400k above... some maybe 500k above for a 900 sq ft.... for those who cant afford the downpayment to own a house... rent is the only way.... and if you cant save downpayment... pls dont buy a house... even if its zero down.... otherwise can only stay in with tilam aje... since i doubt they can save for renovation fees...

cyberjaya is indeed oversupply for investment... the few hotspot rental rate also coming down already.... with more project VP in the coming years... rental rate will keep going down trend... cap appreciation for condo there basically nothing much to say already....
*
True. My fren is a property agent who handles some areas, one of areas is cyberjaya.
last week, she told us the rental in cyberjaya keeps dropping.....
trust4you
post May 24 2017, 01:52 PM

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QUOTE(MichelleSky @ May 24 2017, 01:41 PM)
True. My fren is a property agent who handles some areas, one of areas is cyberjaya.
last week, she told us the rental in cyberjaya keeps dropping.....
*
cyberjaya keep dripping cos they keep building but not much influx of pipulation,only student market but too mny alrealdy
MichelleSky
post May 24 2017, 02:37 PM

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QUOTE(trust4you @ May 24 2017, 01:52 PM)
cyberjaya keep dripping cos they keep building but not much influx of pipulation,only student market but too mny alrealdy
*
Ya, I knew it. Someone mentioned here before.
The rental in some places are getting lower too.....
aaron1717
post May 24 2017, 04:48 PM

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QUOTE(MichelleSky @ May 24 2017, 01:41 PM)
True. My fren is a property agent who handles some areas, one of areas is cyberjaya.
last week, she told us the rental in cyberjaya keeps dropping.....
*
true enough... my fren is the agent focus only on rental and subsales of cyberjaya... basically he monopolize most of the units in the few condos there to rent out... he also mentioned.... really earning lesser from the rental income already... all the new tenant keep press on the rental price... and they have alot other options... biggrin.gif biggrin.gif

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