Normal or regular property no issues with resale.

Affordable housing schemes, then you will be bound by any restrictions in place for that property.

All those could be under a tenant's or company name.

Might as well just read the proclamation of sale, it will tell you the owner's name, the bank that had instituted the actions leading up to the auction and depending on the bank it may contact the owner on your behalf.

Never knew there are people so gullible when it comes to dealing with debtors and squatters.

I'd imagine sympathy must have played a part but shit a year?? Goodness.

If it was me I'll give him 2 months, either sort it out or ship out else I'll be calling in some gangsters to shove him out.

Personally I start taking action once the 1st month is in arrears. I ask them when is their pay day during tenancy, I give them 3 days grace period, then it is time to start calling to remind them.

5 years ago I had this British expat tenant that worked here. He was good for 6 months, paid on time. Then he said he was out of job but would be starting to a new one soon so give him some time.

2 weeks passed, I asked him to pay half. He did not pay. 3 days after that call I happened to be at TTDI he was there having a blast at one of the pubs, clearly having loads of fun with 3 or 4 chicks hovering around him. I just observed, he wasn't aware I was watching or couldn't give a toss. Then as he left, I checked out what car he was leaving in, it was a 2 month old BMW (mind you it wasn't a 318i, it was a brand new M3 with a 2 digit plate) and I did some digging around turns out it was his car registered to his name.

Next day I gave him a call asked him about rent, he said he was in an interview would get back to me. He did not get back to me.

A month had passed by, I gave him a call, he said he was still between jobs. I told him he should consider giving up that M3, he hung up on me.

The next day I called up his office, asked if he was around, they connected me to him, I hung up on him.

Next day I went with 2 gangsters to his office, asked for him, he came out. I told him congratulations on his new job. Asked him when he was settling the rent arrears. He told me to F-off and what was I going to do if he didn't pay. I told the receptionist its an absolute pity she worked for a boss like that. We then left.

I waited till it was his pay day, sent 6 big sized gangsters to wait near his car. When they saw him, they told him to pay up the arrears, then sign a letter stating that he was breaking the tenancy agreement and moving out straight away. They gave him an hour to pack his personal belongings and move.

Oh yeah he even paid their "fess" and quickly left. He only took his clothes, gave him 7 days to collect his stuff but everything he left with remained.

You could call me an arsehole or wanker on this but better to be one than be taken on a ride by a debtor or tenant of these kinds.

Having said that there are times where people are genuinely in need of help. 4 years ago, I had this tenant a family from Sweden with 2 kids aged 2 and 4, she was also 7 months pregnant. They were 18 months into the tenancy and one day the lady called my missus to inform that they were having difficulty to pay rent and whether we could help them, she said we would meet them at the condo later that evening to explore what could be done. We showed up, discovered 9 of the 10 bulbs in the living room had been removed, no air conditioners switched on despite it being hazy at that time, same story in the kitchen 5 of the 6 light bulbs been removed and the refrigerator been switched off. I asked what the heck was going on, they said they had to cut back drastically so removed all the bulbs, switched off all air conditioning and stopped using the refrigerator since they only ate bread, instant noodles and fruit or vegetable they could buy at half price. He said he walked from the condo in Bangsar to his office at KL Sentral as could no longer afford parking or fuel or to repair the car as the alternator had spoilt.

I asked what had happened, he said they lost a case with the tax office in Sweden, as a result they seized all their savings and assets, also since they were paid by a company based in Sweden into a Swedish bank account, the tax office had 1st priority to garnish wages to settle the tax arrears. They said after all the deductions they had RM600 left. They felt too shy to ask for any help but decided it was only fair to let us know since we are the landlord and they understood if eviction was on the cards. I asked him why he did not pay his taxes knowing they come from a country that tax offices have such strong powers, they claimed the tax office made a mistake, then told them to pay first before submitting an appeal, they did not have the money to pay upfront, therefore the tax office turned their life upside down.

I cut them a lifeline, I moved them to a smaller and less expensive condo I had that was newly vacated, told them it had not been cleaned. They cleaned up both old place till it was spotless and also the new place then they moved in. I gave him an old bicycle, every week would send milk, cheese, vegetables, pasta, cereals and cans of tuna, also gave them RM1000 cash each month. When their baby was due, they went to the government hospital to deliver. I gave them RM2000 told them they could do it and told them to eat properly, I helped them with the electric bill each month also.

On the 7th month, they told us they had paid off the tax office, now things were back to normal. He paid the month's rent and asked if he could repay me RM1000 per month for the 6 months they been living rent free. I told them pay what they can afford. On the 18th month I told them they had more than repaid us.

They still rent that condo. Ever since then, each time we WhatsApp our tenants that we have a newly vacated condo it isn't too long before one of their countrymen contacts us asking to rent it.

I'll gladly help people like that Swedish family but definitely not that Brit who were taking the piss.

Police no, not at all as it is a civil matter.

Gangsters? Possible but expect that parts of your property's new decor will be black.

Police won't get involved in this matter, you need a court bailiff for this.

If this was happening today:-

1) The one that escorted to the office = RM250 per person per hour of being with you. If have to "move hand" to protect you then the price goes up to RM500. After it is over you must pay the cost of their journey to home, a meal and a pack of ciggies each.

2) The one that approached the debtor by the car = RM350 per person per hour. It will be RM450 per hour if the person is a police or civil servant or member of any armed forces. If have to "move hand" RM500 bare minimum. Even if you have fully paid them they will still collect a "fee" from the other party usually between RM50-200 each. Before the job you will need to treat them to drinks, brief them on what is your favoured outcome and after it is over you will need to buy them a meal, pay their petrol money and you will need to give them a 15% commission on anything they have collected on your behalf. A pack of ciggies are customary to show you appreciate their "services"

3) Eviction of tenant = usually between RM2000 to RM5000 depending on the nature of it. One thing for certain, only use this method if it is an absolute last resort as the first few that they will go after are the mother, wife and children of the stubborn one, not necessarily in that particular order. Used it once and never again.

I mentioned how much they cost above.

How I found them? These ones I got to know a bouncer at a club, he introduced them to me, usually will be members of a bigger gang either Three Line or 36 or 08.

These days still can be found, easiest way to find them is to look for any new construction sites and ask the site supervisor if anyone came to "Pow" their site and ask for the contact. Otherwise look for any earth moving equipment like excavators moving around ask them if they been "Pow-ed" by any fierce gangsters in the area of late.

The most recent one I used, I got to know them from one of those who were sticking those stickers advertising for "Pinjaman" asked him which "taikor" he was working under and to bring me to him as I had some business for him. Straight away was "referred" to someone who could do the job.

One thing, these people don't last long, usually 6-24 months max before they get caught and thrown in the slammer or someone hires them to be their personal bodyguard or driver.

What doesn't make sense? Not a castle just a 3 bedroom condo.

Why pay rental when you know it is difficult for your landlord to chase after the payments and go through a hassle to bring you to court for the amount?

RM3500 goes a long way at the pubs and clubs especially when you are a White bloke in a BMW M3.

PM me the race, area and what type of help you need.

Will see if I have any suitable.

Wise move.

Usually when you loan money you end up being the sucker.

PM me the race, area and what type of help you need.

Gangsters don't do work outside their territory.

It is very common, some people do tend to prioritise certain expenses over others.

Rental for some reason isn't a priority but Astro and Maxis Fibre bills WILL be a topmost priority. TNB? Many pay 1 month only when there is a red letter. Car loan payments? There are those who will pay 1 month then don't pay another month. Oh yeah but can afford to buy new bodykits, paint jobs, wheels (with 2nd hand tyres though) and will pay for packages to keep it clean but won't service it on time. Water or Indah Water bill?? Dream on.

You agreed to 3rd option? After 2 months pay on time then 3rd month back to old habit?


Nothing unusual. Several years ago one of my properties I rented it to this family where the husband was some salesman and wife a teacher at a SRJK with 3 kids. Of the 42 months they lived there every month rent was late. Every month bill RM250-400. Rental around RM1600 per month. They had an Estima and a Preve. They gave 3 months notice that they wanted to leave so wasn't going to pay the rent. I told them no deal. I drove by to check the house, place was a skip, grille damaged, electrical system so badly messed with to the point whole house was a fire hazard. She insisted she wasn't going to pay the rent as I won't return her the deposit otherwise. I checked the TNB account RM3700 outstanding. I went to TNB asked why they had not cut off supply, the girl at the counter also did not know. I told them since a red notice is out and the account was in my name I wanted it cut within 24 hours. I asked for the number of the person cutting the supply, he said he would be there at 3pm, I went there at 3pm, so happened she was home teaching tuition, offered him a bribe to not cut the supply, RM100 then upped it to RM300, in the end he told her can't do it as owner watching from outside. She went berserk and started screaming that she had meat in the freezer. I told her unless she settled the bill immediately there would be no electric to the house.

Oh yeah she was shouting at me at the top of her lungs with plenty of neighbours coming out to see. Next day she paid the electric bill. Then blamed me for spreading rumours about her at her school. I suspended the TNB account, told her she not paid rent yet. Another round of shouting again, she said she losing money because no electric as can't teach her tuition and had to throw food away. Told her not my problem, pay the rent first then will talk.

After a week, the husband called me to bank in all the rent that was outstanding, called for a contractor to fix everything and moved out after a month.

About commi, seems these days getting to be very difficult to predict the outcome of an area.

Also many of the ones that are successful these days the pricing

Within Klang Valley? Which areas?

Malaysia and industrialisation is in the doldrums these days.

Well you could say these are isolated incidents for me. 16 years of doing this type of investments there are bound to be a few of these kinds.

Absolutely.

You'd be surprised, often teachers especially those that teach in a SJKC are among the worst kinds of people outside of school.

That woman it wasn't that they could not pay, it was more along the lines that she felt she could not lose.

As to your other question, a bird in the hand is better than 2 in the bush.

Sometimes as landlords we have to give and take here and there. If they are late but still pays within the month then not bad also, to replace such a tenant maybe it might be unlucky that you get one that 3 months don't pay and then won't move out, becomes a bigger problem.

Landed freehold ones rarely ever drop in price. Even bank valuations for them keep going up year on year. However their prices have been stagnant or risen below inflation for the last couple of years especially at the more "atas" areas.

Leasehold ones will drop due to bank valuation, banks will start taking into account the land it sits on isn't worth as much any longer. Starts right around the 15 year mark or so.

In future most proper KL, PJ and Subang landed properties would only go up in price as no new ones are being built.

I won't touch any of them though, cost too much to buy, too much to renovate and too much to hold as difficult for rental to cover even a 50%LTV mortgage.



5-6% on a 90%LTV

Why some investors make it? Groundwork and homework.

No shortcuts when it comes to property investments.

I don't believe any local authority or stat is allowing you to renew 99 years.

Also I don't think there are any states that are renewing leases until it is at the end of the lease, therefore if you are 40 years into a 99 year lease it will still be a while away before you could even discuss the matter.

Oh yeah and it isn't going to be cheap plus must have cash to do so.

Depends on the local authority or state.

Private strata leasehold buildings, oldest are around 50 years, still a while to go to reach that 99 years.

Many of those individual homes if renewed they will only renew it if you are the original owner or children of the original owner.

What you are asking is mostly academic for the case of PJ Oldtown, most if not all that had the lease renewed were renewed under the strict condition that the property cannot be sold but could be passed on to next of kin only.

Max given was 30 years and cost around RM500 per year.

If there are 2 houses on the same road and one has a 99 year lease and the other has a 69 year lease, ceteris paribus the one with the shorter lease period would definitely be worth less but quantum wouldn't necessarily be what it cost to renew the lease.

Why so susah susah, get a unit at Bukit OUG condo, bargain hard enough and you can get one within your budget at a subsale.

LRT station? Doesn't get any nearer.

Also if you walk around you see the condo then you get on iProperty or one of the sites then check if there are any auction units.

Doesn't get any simpler.

Any property listed for <100k would be >100k at the end of auction unless it is a place not worth buying to begin with or will be difficult to take possession off after the auction is over.

Buying low/medium cost flats and renting them out does give good returns but not the easiest way to make money as you will need to sift through the pool of tenants many of them nasty characters to deal with and might become a problem to collect rent from them.

Worth doing? For me it isn't something worth doing.

Also to note, many of these <RM200k properties are leasehold and >20years old. Won't be easy to get a loan on it.

Low cost doesn't mean it is just 4 walls and a roof.
I've seen low cost places where the tenant inflicted the following damages:-
1) Toilets stolen of anything metal. Clogged up too because they flushed down garbage.
2) Place had GI pipes, every single part of the house that had a pipe was hacked off for the metal.
3) Wires, every single part of it pulled out.
4) Lourve windows hacked out clean.
5) Grilles all gone.

Not saying more "atas" places have no such types, just recently paid off a bill for RM337k for damages done to a condo by not the tenant but his irate Malaysian gf. Thankfully the MNC company he works for signed the lease and not him.

The problem with lowcost tenants isn't so much that they are bad hats, some are genuinely good people just that if the rent is 40-50% of their income, you can bet your last dollar that when push comes to shove rental won't be the highest priority of bills to pay. Car, astro and mobilephone topups as well as ciggies would 100% take precedence.

As they say perceptions and first impressions are often always rights and there usually isn't any smoke without fires.



Once it is 20 years the MOF isn't as good and banks do become reluctant to loan.

Plenty to learn

Its a volume game ain't it?

1 or 2, it becomes problematic, if you have 6-8 then you could always outsource the collection.

It is one of the reasons why I don't touch these types of property investments, used to JV with a few others to do this and rented out rooms. You do make a fair but but unless you have the personality of a gangster or a loanshark or a fierce aunty with very loud voice, this isn't a market worth being anywhere near.

Why it cost RM337k?

Basically anything that could be broken or damaged with a sledge hammer she damaged it.

Here's the items that had to be replaced :-

1) 9 pieces of floor to ceiling glass.
2) All the hardwood floor.
3) All the bathrooms.
4) Kitchen cabinets and appliances.
5) Bedroom wardrobes and most of the custom made furniture.
6) Mattress and sofas, basically she used a knife to slash all of it.
7) The plaster ceiling.
8) A chandelier.
9) Some of the plastering because she smeared crap on some of the walls.

All over an American bloke that has an even bigger ego than Donald Trump.

Property is in Bangsar.
Tenant is an American working for an American MNC. The company he worked for signed the lease. In his late 40s.
His gf is a Malaysian Chinese, she is only 19 years old.

She had a cannabis addiction, picked it up from him as he was tested positive for it too. Only thing she was hauled up while the company he worked for didn't want a scandal or hot potato to deal with so had him bailed out and whisked home.



I was furious because how I first got to know about it was a neighbour told me there were renovations going on at my unit.

I called him, he said he was trying to hang a picture frame and that the neighbour was exaggerating.

They I received a call from the building manager to inform me that there had been an incident.

I went over and police were there. I was furious at that time.

These days? I view it that I have an essentially brand new place since most things were replaced and the company agreed to cover 75% of the repair bills, paid the remaining 8 months rental on the contract, told me to retain the deposits and paid a further 3 months rent in goodwill in exchange for the matter to be "forgotten"

He probably felt that way am sure. Not sure if she did hehe.