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 Auction properties

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AskarPerang
post Sep 18 2018, 10:56 PM

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QUOTE(lucerne @ Sep 11 2018, 10:47 AM)
why no good for investment? buy low and sell high. good yield if for rental income too
there r many good property /location there , many auction due to owners over leverage.
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In lelong,
Hot property wont be cheap.
Cheap property wont be hot. Even buy it cheaply also rental cannot cover your loan installment. We are talking about lelong price here which is below launching price, you got it cheaper than all other owners there.

Example, lakepark residence. Rental market just RM1500.
Developer launching price last time 650k.
Lelong price can get at 400k. Will still bleed negative cash flow.
So is only good for own stay.

Another example, alam sanjung. Rental market just RM1200.
Developer launching price last time 400k.
Lelong price can get at 300k. Will still bleed negative cash flow. So once again this is only good for own stay.
AskarPerang
post Sep 19 2018, 10:13 AM

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QUOTE(BEANCOUNTER @ Sep 19 2018, 10:06 AM)
Lelong units are the worst for ownstay.

You dunno what you will get....inside the unit lagi tak payar cakap.

If extremely lucky u get a brand new unit. If not.....

Why want to treat your ownstay with such uncertainty?
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Both examples above: brand new virgin condition unit.
Can see the exposed wiring, nothing being fitted.
Is exactly the same like buying leftover developer units.

Is the new trend. Even you can find lelong house keys still with developer. Nobody come and collect yet.
Example: Galleria Equine studio auction last week below 200k. Below launching price.
AskarPerang
post Sep 19 2018, 10:46 AM

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QUOTE(David_77 @ Sep 19 2018, 10:38 AM)
why you no tell me? can buy at this price right?
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Take this:
I believe 99% of the units in this list here will be virgin condition

user posted image

user posted image

user posted image

This post has been edited by AskarPerang: Sep 19 2018, 10:46 AM
AskarPerang
post Sep 19 2018, 12:08 PM

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QUOTE(David_77 @ Sep 19 2018, 11:57 AM)
These are auction reserved price?
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Yes, most units already price drop further down.
For the small size unit (1211 sqft) is 360k now.
While the big size unit (1502 sqft) can get at 410k.
AskarPerang
post Oct 1 2018, 11:42 PM

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Few crazy bidding video.
Morale of the story: Be smart next time. Enter when the price is not too low.
Possible buyer market is back also?








AskarPerang
post Oct 2 2018, 11:41 PM

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QUOTE(junbow @ Oct 2 2018, 11:27 PM)
if 10 bidder..dun think can settle before bid
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Now with online bidding is even harder to settle outside.
AskarPerang
post Oct 3 2018, 02:09 PM

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QUOTE(leodinouknow @ Oct 3 2018, 11:04 AM)
one time collect 1k-2k also worth the time... where got such job pay out 1day 1k
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QUOTE(tikusniaga @ Oct 3 2018, 11:35 AM)
Exactly. thumbup.gif
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As mention, with online bidding coming in. Hard for bidders to deal outside anymore.
AskarPerang
post Oct 5 2018, 12:19 AM

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QUOTE(gld998 @ Oct 4 2018, 10:37 AM)
Its about capital appreciation... not rental, u can nvr get rich by rental
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Any props bought before 2010 become gold today.
But majority props bought 5 years ago in 2013 got zero appreciation or even depreciatuon. You will need another property peak price era in order to get above ASB return of 7% p.a. But the golden question is when will be the next property bull run? 10 years from now? 20 years? 30 or more years?

This post has been edited by AskarPerang: Oct 5 2018, 12:20 AM
AskarPerang
post Oct 6 2018, 06:09 PM

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QUOTE(michaelchang @ Oct 6 2018, 06:04 PM)
This is very true, on paper developer show profit of between 10-30% but actual profit, mostly above 200%

Those with land next to HTC will see profit around 300% as those land were disposed at very low price

Traditionally, land next to HTC were sold cheaply for light factory, place of worship and garbage disposal/processing
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How about land beside cemetery. Cheaper than HTC land?
AskarPerang
post Oct 24 2018, 04:50 PM

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QUOTE(freedom84 @ Oct 23 2018, 05:13 PM)
Hi all dai gor, I have some queries about the auction.
If let say I register to join the auction, and on the auction day I also attend, but on that time the property was announce and I not bid, but the property only me register, will it be automatically consider sold under my name at reserved price?
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QUOTE(Zavia/GenX @ Oct 24 2018, 04:40 PM)
Akward situation to be in la, u sit there and the auctioneer stand there, and u two eyeball each other for 5 mins then tutup lelang.
Well dont sneeze or scratch head or dig nose safe lo. Sneeze can be like nodding head, scratch head like angkat tangan, dig nose with finger upwards like wanna raise hand with finger upwards.  tongue.gif
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Yup this situation happen just now. Special case.
Later I share.
AskarPerang
post Oct 24 2018, 08:58 PM

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QUOTE(freedom84 @ Oct 23 2018, 05:13 PM)
Hi all dai gor, I have some queries about the auction.
If let say I register to join the auction, and on the auction day I also attend, but on that time the property was announce and I not bid, but the property only me register, will it be automatically consider sold under my name at reserved price?
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2 bidders register for this lelong unit. both also refuse to bid.
after 10 mins, auction called off and declared as no bidder.

But you have to take the risk. Jurisdiction totally down on the auctioneer and lawyer on site. So are you willing to risk the 10% cheque and try your luck register to bid but not bidding?
AskarPerang
post Oct 25 2018, 12:55 PM

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QUOTE(lucerne @ Oct 25 2018, 12:25 PM)
this case is diff, auctioneer increased the reserve price on the spot (thot that 2 bidders will accept higher price and start bid), but both refused. i think both hope to win at original reserve price.. if the auctioneer start from the original reserved price , maybe can get slightly higher price.

go back to earlier question, if u are the only bidder , and the auctioneer agreed to let go at reserved price then u have to accept.. saw a person regretted after hammered.
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As mention previous, case by case basis. But are you willing to take such risk?
Here an example, still can pull out even after being declared as the only registered bidder:


AskarPerang
post Oct 26 2018, 04:57 PM

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Yet another lelong fairy tale story to share:

» Click to show Spoiler - click again to hide... «



S1-09-02, Vista Alam, Jalan Ikhtisas 14/1, Seksyen 14
Reserve price 🔥🔥RM284,000🔥🔥
714 sqft, 1CP (dual key unit)
Leasehold
Auction: 19-Sep-2018 (Wed)

Sold at 312k just now. 5 bidders.
Very cheap price. Good catch.

New owner hit the jackpot. Unit tenanted at RM1400 + RM600 = RM2000 monthly.
While his loan installment to the bank at only RM1350. Wow. Positive cash flow with zero effort. Ready unit. Ready tenant. drool.gif
Down to luck actually.


AskarPerang
post Nov 5 2018, 03:25 PM

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Another rumah selangorku fall into auction.
3rd so far all from rumah selangorku project.

So yeah, affordable house can be bought up by investors via lelong, just like low cost housing.


AskarPerang
post Nov 8 2018, 10:49 PM

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QUOTE(AskarPerang @ Oct 6 2018, 01:13 AM)
How low can the price go? Is now crazy cheap. Unbelievable.

A-01-08, Block A, Residensi Sembilan Cheras
New reserve price🔥🔥RM 367,500🔥🔥
Freehold
1502sqft
Auction: 08-Nov-2018 (Thu)
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QUOTE(AskarPerang @ Oct 25 2018, 02:12 PM)
No taker. Drop price as well. Now got 2 big size units at below 400k. Wow.

A-02-09, Residensi Sembilan Cheras
New reserve price🔥🔥RM 383,850🔥🔥
Freehold
1502sqft
Auction: 08-Nov-2018 (Thu)
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Lelong lesson to share. See above. 2 units lelong at the same day same time.
As a smart bidder, which unit you should aim? Both unit same size same facing and vacant.
Read tips #4 share below:



So lelong results today:

» Click to show Spoiler - click again to hide... «

AskarPerang
post Nov 18 2018, 11:19 PM

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QUOTE(mhs87 @ Nov 18 2018, 10:43 PM)
Hi, just asking for opinion. Do u guys think this is a good property to bid?
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Things will be always cheap for a reason.
One of the oldest high rise in Cyberjaya.
Old property you try to get from lelong, always need to bear in mind unit inside condition will be the worst coz you are not able to view inside.

Anyway for this unit, got some history. MSS got photos of the unit inside condition. A non bumi bidder won it at 400k (last year in 2017) but later only found out that the unit is a bumi lot. So this unit re-auction again and drop till the price you see today.

Refer here: https://forum.lowyat.net/index.php?showtopi...post&p=87830447

This was my post back in Jan 2018.
The gap is too long. From 366k to 299k will only take 2 months time only. So I suspect someone must have won it again but yet again fail to transfer.

So this unit successfully sold twice, but still stuck in the lelong market today.

AskarPerang
post Nov 19 2018, 05:00 PM

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QUOTE(mhs87 @ Nov 18 2018, 10:43 PM)
Hi, just asking for opinion. Do u guys think this is a good property to bid?
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QUOTE(leodinouknow @ Nov 19 2018, 04:39 PM)
maybe got people willing to reno everything back to normal?
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Additional info. The unit is currently occupied by tenant.
AskarPerang
post Nov 21 2018, 01:20 PM

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Johor factory. Reserve price: 1.62M. 15 bidders. rclxub.gif
Orang johor banyak kaya.


AskarPerang
post Nov 21 2018, 02:21 PM

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QUOTE(New Klang @ Nov 21 2018, 01:53 PM)
Any good one? I lost track, just too many to focus.
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Too many choices. Depending on where you think got potential.
If you think Puncak Alam, Rawang or Bandar Tasek Puteri, Semenyih good to invest, then can hunt for landed houses there.

Most lelong unit can get fairly new units at below initial launching price. Some even brand new untouch condition.
That's the trend currently.
AskarPerang
post Nov 21 2018, 09:29 PM

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Sign agreement in Jan 2018.
Enter lelong in Dec 2018.
tongue.gif

Green Residence. Bought after project completion. Developer units.
Probably this owner just grab the cash back and run away. Never make a single loan repayment.



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