Invested in one condo and collected the key recently, my main purpose to flip for quick cash but unfortunately market is bad and hardly to sell now to make profit.

So in your opinion how long do I need to hold it before I can sell it off with handsome profit? The condo is epic residence bukit puchong, studio unit 624sf.

Lower down profit by 20% maybe can sell within 1 year

Tough life, loan + maint fee 2k for this condo yet hv to serve car loan or existing house loan. Must tighten the belt every month

If total rental can cover, say 70%-80% of yearly commitments (i.e installments, management fee, estimated repair etc), maybe can keep for at least 5 years?

Anyway, that is my plan.

How much do you plan to sell? What is your definition of handsome profit?

About 100k gain is handsome. Bought at 373k and target sell it arnd 450k. But I knew it is impossible now as still many left over developer units, so I can only hold for now. No plan to rent as I dun wan the hassle of managing tenant.

wah if you dont plan to rent then you should buy a landed property and hold.

anyway, can see agent start posting rental for studio RM1100. probably with minimal furnishings.

After 5 yr good timing

Either rent it out to minimize lossses (although it will be negative cash flow)

Or sell it off to at least breakeven

The next cycle of prop booming will take some time given the average income is not growing fast..

There are still chances to grow if the location is upcoming with future amenities, not sure about Bukit Puchong

Rent it out asap.
Cover more than half is good now

Nobody have the crystal ball to predict the future lah, but wise man say the longer you hold, the higher return you can get, property price will only go up base on history, property price is resilience bad economy and financil crisis, no worry....haha

what's the net price after discount from dev for same type?
I sold my both soho units about 10% below their price in CBJ last year, found buyers within 3 mths from VP.
my rational is that if it is not performing well, then ditch it asap, save the opportunity cost.

This post has been edited by lamode: Jul 7 2017, 02:07 PM

haha....u r very right ....tough life
so when mkt gd u see people with properties most people so hot and so keen....so when market down is all the way tough life....very few people will want to have this kind of life...what is the point...life is to enjoy

rent it out for around 1300 and wait for developer units to clear out.... otherwise sell at no gain no loss (inclusive of your expenses)..... handsome profit... u bought ur hse to flip at wrong time bro... towards the end of property bull run... lol

Oh... epic jialat susah. I pigi survey the place And surrounding Liao. Impossible to flip. Developer sell Premium price tag from start. Go for cheap rental first to hold as long as you can until bull run again.

This post has been edited by HELLO HELLO: Jul 7 2017, 02:09 PM

u can still try...
Allow buyers to markup loan to minimize their deposit. (most of buyers fell for this)
and if prop is less than 5 yrs, dont 4get to pay RPGT. good luck!

TS you obviously missed out the entire (hidden) chapter of property investment.......

1. Not all properties will make u money, lets along handsome profit
2. Locationx3
3. One bedder in non commercial area

Good luck. Please join the queue of many investors to cut losses.

buy condo but dont want to rent?? why not buy land

This post has been edited by HarpArtist: Jul 7 2017, 02:51 PM

I got 5% rebate only and hv to serve interest. But developer gave better offer after with 10% rebate. Lucky the developer can deliver ahead of schedule and save us some interest. But the price quite steep and very hard to sell now.

Now I get tied up with this condo already and pray hard my job will be stable. Else once I lose my job I will bankrupt immediately.

His intention is to flip roti canai and pocket 100k...

Like many of his friends did before him.