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Investment Ion Majestic Genting Highland, Property Investment

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icemanfx
post Aug 5 2018, 08:09 PM

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QUOTE(machoman88 @ Aug 5 2018, 08:04 PM)
Some photos from my recent stay, quite disapointed, definately not 5 stars standard, 3.5stars max

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Tiles floor, must be cold to walk at night and early morning.

n_minie
post Aug 5 2018, 11:29 PM

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QUOTE(machoman88 @ Aug 5 2018, 08:04 PM)
Some photos from my recent stay, quite disapointed, definately not 5 stars standard, 3.5stars max

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This hotel is not rated 5 star ler. Suppose to be a 4 star hotel
blacktrees
post Sep 9 2018, 03:24 PM

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QUOTE(Hofmann33 @ Apr 11 2018, 10:26 PM)
Haven't made a booking but here's my thoughts and some information on the project.

https://blog.rentandreturns.com/hotel-prope...nt-in-malaysia/

Hope this helps!
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Hi I read your post you said the rebates are 12%+2%
But my agent told me is 10%+ 2%
Can you confirm this?
thongyj93
post Sep 9 2018, 03:29 PM

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QUOTE(machoman88 @ Aug 5 2018, 08:04 PM)
Some photos from my recent stay, quite disapointed, definately not 5 stars standard, 3.5stars max

[attachmentid=9955383]

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[attachmentid=9955385]

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I always stay in grand ion deleted every time I go to genting. For me is all good, I’m satisfied with the hotel
Hofmann33
post Sep 9 2018, 07:23 PM

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QUOTE(blacktrees @ Sep 9 2018, 03:24 PM)
Hi I read your post you said the rebates are 12%+2%
But my agent told me is 10%+ 2%
Can you confirm this?
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Perhaps the deal has changed. My info was given to me for phase 1.

Definitely was told 12% + 2%.
blacktrees
post Sep 10 2018, 01:46 AM

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How about the rest of the buyers?
chris1019
post Sep 18 2018, 11:10 AM

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QUOTE(michaelchang @ Aug 1 2018, 01:56 AM)
Not much potential, only good as vacation house

investment wise, STAY away  tongue.gif
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Hi, y it's not good if as investment? Do u mean re-sell value will not good? Sorry, I'm new in property investment

Actually I pretty interested in this project... Any advice?

Thanks
spacelion
post Sep 18 2018, 01:47 PM

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QUOTE(kkkw80 @ Jun 21 2018, 07:58 PM)
I'm giving this a miss, too much risk involved and too near haunted Amber Court to my liking.
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Haunted? Have you been near Amber Court recently? the place is bustling with immigrant workers. Almost all the construction kuli working in Genting live there. I think all the ghosts also have been frightened away.
n_minie
post Sep 18 2018, 02:22 PM

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QUOTE(chris1019 @ Sep 18 2018, 11:10 AM)
Hi, y it's not good if as investment? Do u mean re-sell value will not good? Sorry, I'm new in property investment

Actually I pretty interested in this project... Any advice?

Thanks
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I think this is not bad too.. during bad times... tourism will still be there. The occupancy rate in the current ion delemen also not bad. Been there during weekend and weekday. Weekend is fully booked. Weekday is not too bad but u do see company hosting events and meeting there.

Wyndham grp is indeed an experienced hotel management. So if they can continue to manage I think this will do well. The only downside is the location is not as great as the roads leading to the hotel is a bit on the narrow side.

The existing ion delemen owners are already getting their % .
But of course everything also have risk. If u want a hassle free then can consider this proj.
michaelchang
post Sep 18 2018, 08:45 PM

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QUOTE(chris1019 @ Sep 18 2018, 11:10 AM)
Hi, y it's not good if as investment? Do u mean re-sell value will not good? Sorry, I'm new in property investment

Actually I pretty interested in this project... Any advice?

Thanks
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Overprice for investment, rental return guarantee is for short term, after that sell cheap cheap also nobody wants..
Look at some of the older apartments at genting. Will u buy those even it's very cheap?
n_minie
post Sep 18 2018, 10:02 PM

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QUOTE(michaelchang @ Sep 18 2018, 08:45 PM)
Overprice for investment, rental return guarantee is for short term, after that sell cheap cheap also nobody wants..
Look at some of the older apartments at genting. Will u buy those even it's very cheap?
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If u r talking about the ugly amber court.. heard ada ready buyer because they r buying to let their staff stay. For ria appartment also have pl buy because business is good. Unfortunately not many pl want to sell . Doing airbnb.
Really need to talk to those players in genting to find out. Already 2 to 3 pl tell me theyknow pl who onwed few units in genting and makING $.

Difference between other old appartment is the mgmt issue.. if jmb no good.. not only genting. . Any appartment in kl also sell cheap cheap no body wants. Looking at the newly vped units in kl.. who is making $$ or can cover installment?
michaelchang
post Sep 18 2018, 11:50 PM

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QUOTE(n_minie @ Sep 18 2018, 10:02 PM)
If u r talking about the ugly amber court.. heard ada ready buyer because they r buying to let their staff stay. For ria appartment also have pl buy because business is good. Unfortunately not many pl want to sell . Doing airbnb.
Really need to talk to those players in genting to find out. Already 2 to 3 pl tell me theyknow pl who onwed few units in genting and makING $.

Difference between other old appartment is the mgmt issue.. if jmb no good.. not only genting. . Any appartment in kl also sell cheap cheap no body wants. Looking at the newly vped units in kl.. who is making $$ or can cover installment?
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Since u say it's so good, hope you have bought a few units brows.gif
chris1019
post Sep 19 2018, 08:25 PM

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Seriously I still ding ding dong dong.... I dono should buy or not... Haha
n_minie
post Sep 19 2018, 09:23 PM

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QUOTE(chris1019 @ Sep 19 2018, 08:25 PM)
Seriously I still ding ding dong dong.... I dono should buy or not... Haha
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Trust your instinct. This forum is good for info sharing but it's really individual opinion. Managed to book a unit.
kenyl
post Oct 21 2018, 11:13 PM

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Hi, just to ask, if this is for 3rd property, max loan is up to 70% only? meaning that i have to get ready for 20% cash right (10% rebate)?
Lennox Tan
post Oct 24 2018, 12:41 AM

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QUOTE(kenyl @ Oct 21 2018, 11:13 PM)
Hi, just to ask, if this is for 3rd property, max loan is up to 70% only? meaning that i have to get ready for 20% cash right (10% rebate)?
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Yes u r correct, u have to get ready for 20% cash for the 3rd property.
lmchnyp
post Nov 1 2018, 04:43 AM

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Developer cash flow are not running well. UOB and RHB are stop getting end financing. That’s scary 😨
Hofmann33
post Nov 1 2018, 06:22 AM

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QUOTE(n_minie @ Sep 18 2018, 10:02 PM)
If u r talking about the ugly amber court.. heard ada ready buyer because they r buying to let their staff stay. For ria appartment also have pl buy because business is good. Unfortunately not many pl want to sell . Doing airbnb.
Really need to talk to those players in genting to find out. Already 2 to 3 pl tell me theyknow pl who onwed few units in genting and makING $.

Difference between other old appartment is the mgmt issue.. if jmb no good.. not only genting. . Any appartment in kl also sell cheap cheap no body wants. Looking at the newly vped units in kl.. who is making $$ or can cover installment?
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Amber Court is an absolute dump. The place is a complete mess. I dunno about Haunted but there are some videos of people exploring the development and it is in super bad shape.

Ria Apartments have just recently had a new coat of exterior paint so i'm not sure if they have done up the rest of the place. Know it was in terrible shape some time ago but perhaps new owners have decided to fix it up. I'm not sure but the new coat of paint makes it look decent from the outside.

But for me I really like Genting, I think the whole area is only gonna get more and more popular.
InvestThing
post Nov 1 2018, 09:33 AM

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Pretty decent place. But the reception counter has to improvise. They do not have the capacity to deal with crowd during peak season. Same goes for their Kembali restaurant.
zL.o8
post Nov 5 2018, 04:54 PM

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Any available units? Do PM me.

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