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Auction properties
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BeastB
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 Apr 29 2019, 03:28 PM
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QUOTE(pinksapphire @ Apr 29 2019, 12:19 PM) An aquantaince once told me how he bought an auction unit and damn, the person inside refused to leave eventhough no water no electricity for a year. He said this is the pros and cons you must prepare yourself for. There are some people who can really not leave no matter what. You send gangsters also the person rather die inside than outside on the streets. What can you do in this case @_@ I guess it's better not to buy at too cheap areas? Hard to predict, ain't it? Your acquaintance has a big heart/no backbone. Since he is the owner on paper, the person staying inside is a squatter/trespasser. Go to the nearest police station, report. Within 2-3 days should be able to settle. The person staying inside is same status as a robber/thief in the laws perspective. |
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BeastB
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Apr 29 2019, 05:47 PM
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QUOTE(michaelchang @ Apr 29 2019, 05:46 PM) The law of Malaysia protects the tenant, not the owner. Police cannot do anything, only court bailiff can open door. This is not landlord/tenant case....this is owner and previous owner (squatter) who is trespassing. If for some reason police can't even handle this, then go bungkus la.  |
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BeastB
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May 2 2019, 08:55 AM
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QUOTE(leodinouknow @ May 1 2019, 09:45 PM) Fearful when others are greedy and greedy when others are fearful. *warren buffet Wasn't he referring to the stock market with this quote? Anyway most of his quotes are outdated, since the market is now very different compared to his time post WW2 when he was buying into very small companies which are now blue chips. The growth of the market in the industrial age is incomparable. If Buffett graduated from high school around 2000 he would be one of us now. They say you can never time the market, but to me timing is incredibly important. From my own experience so far and what I've seen with people close to me, if you buy property especially at the wrong time you can lose so much time and hundreds of thousands for nothing (unnecessarily high price + high interest rate commitment for long time). This post has been edited by BeastB: May 2 2019, 08:56 AM |
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BeastB
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May 2 2019, 09:42 AM
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QUOTE(New Klang @ May 2 2019, 09:26 AM) Is it downtrend? I see BBB everywhere. I tried to tell the BBB gang to read your message before proceeding to buy but they tell me that their friends and their friends' friends are buying with cash back and loan compression. Not a bad time to buy subsale now, prices have dropped a lot the past 2 years. But buying new development now is a complete waste of time. |
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BeastB
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May 2 2019, 11:19 AM
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QUOTE(icemanfx @ May 2 2019, 10:29 AM) If one compare asking price of a few years ago and current distressed subsale/foreclosure, there could be substantial difference i.e cheaper or gems. If you believe you could find gems now, why not find more gems later? If it's a gem (to me, gem = rental covers all the expenses (installment, maintenance,etc) of the property) why not buy today and start saving up? |
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BeastB
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May 2 2019, 12:03 PM
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QUOTE(icemanfx @ May 2 2019, 11:59 AM) It is not unknown for some vendors to show fake rental agreement to entice buyers and terminate rental a few months after transaction is completed. I always visit the property and see for my own eyes before even considering purchase. |
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BeastB
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May 2 2019, 12:10 PM
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QUOTE(Harry_Bobinski @ May 2 2019, 12:07 PM) Are you guys actually talking about apartments? For landed, I have yet to see any that has dropped in price for the past 4 years. Stagnant, yes but definitely not reduced in price. I could be wrong on this. New Klang I thought your BBB mode is landed in Semenyih area Yep, for me landed is only for own stay. Will never buy for investment since rental is crap and difficult to manage....if I have the liquid cash sitting I rather put it into American stock markets for both dividends and appreciation. |
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BeastB
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May 16 2019, 11:50 AM
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The above facts is why I don't trouble myself with property below 500K. Middle income families have a different mindset from low income families.... sometimes time is more important than money. You don't want money while spending precious time trouble shooting and dealing with constant bullshit.
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BeastB
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Aug 1 2019, 12:17 PM
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QUOTE(heavensea @ Jul 31 2019, 06:47 PM) Cannot la in Malaysia. Even tenant owe rental also cannot do anything bypass the legal process which is taking very long time to proceed.  Makes me want to go rent a RM10k mansion per month and then never pay rent/move out. |
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