House Type : Semi-D corner lot. 6500sf lot size.
Date possession of keys : 6/2009
Condition : Time warp to 1973, tired looking and used to be lived in by a hoarder. Successors of the owner did not want to enter the premise because scared of got ghost.
Brief history : House belonged to an gentleman with 5 children, all started fighting with each other over who had what. Our lawyer told us about the existence of this house and he asked if we would be interested. My dad said yes without looking at the house even. He bought it on hearing the address.
Appraised value : RM1.4m
Purchase price : RM1.05m (Inclusive of all fees and stamp duties)
Mortgage : RM577k
Repayments : RM4329 for 15 years.

My dad gave me the key told me, gave me access to an account and told me to sort it out and when he returned from his holiday in Bhutan, China, India and Nepal the house better be ready. Budget he said when he returned home he did not want to see the account in OD and by the time he returned he wanted to see a tenant living in the house. I in turn gave the key to my missus who had newly moved to Malaysia and told her it was time to earn her keep

When we opened the doors the first time we were shocked as there were junk everywhere and there 2 rooms that were 7ft deep with stuff.

When my dad asked for a photo of how the house looked like inside I sent him a picture and he said "Glad it isn't me cleaning that shit up. Going for massage now. BYE" and he switched off his phone.

Cost to clean and empty out the house :RM7500
Items sent for recycling : RM2500 (There were 18 garbage bags of aluminium cans, tins, glass and plastic bottles)
Items salvaged and sold on eBay : RM38000.
Items sold on to an antique dealer : RM44000.

Took 2 weeks of 12 hour days to clear out all the junk and to list them as we went along. She lost 6kg from all the work.

We decided not to go overboard so we decided to do minimal stuff with the renovation and stuck to the basics.

Things we did :-

1) Demolished the extension at the rear.
2) Replaced the roof and insulated it. Also new ceiling boards.
3) Removed a couple of walls to make the kitchen, dining and living to be an open plan area.
4) New pipes all through the house.
5) New electrical system. Includes new lights and
6) Removed the terrazzo flooring and replaced it with hardwood merbau floors.
7) New custom made kitchen cabinets and built in wardrobes in all rooms (We reused the original front doors and salvaged 6 more pieces from a contractor doing renovations on a similar house, he was glad to give it to us)
8) New kitchen appliances, water heaters and air conditioners.
9) New doors and windows, we also made 2 new windows.
10) New fence, gate and grilles. Old ones was too rusty to salvage.
11) Tiled driveway and sides of the house.
12) New landscape and we saved most of the trees and plants that were planted by the previous owner.

Total spent : RM792k and 5 months to finish.

Rented out 7 months after getting the key.

Rental till 2013 : RM8000 per month unfurnished.

Rental between 9/2013 to 5/2018 : RM9000 per month unfurnished.

Rental since 9/2018 : RM15000 per month fully furnished for 5 years to a German MNC for their CEO.

Spent in order to get this lease agreement:-
Cost to furnish : RM44000 (All on tenant's choice)
Cost to repaint : RM11000.
Cost to renovate bathrooms (tiles, toilets, tubs and showers replaced) RM32000

Most recent offer to purchase : 2/2019 for RM4.6m, was declined. Instead the house was remortgaged for RM2.5m

The 2.5m was supposed to buy the neighbouring unit in cash but the deal fell through. In the midst of closing a deal for 2 semi-ds (side by side) at Damansara. Buying both at RM2.5m each, appraised value was RM2.8m each.

Also another similar story, lawyer informed us of it, estate sale of an elderly gentleman with 2 wives. Grand total of 12 children fighting for their piece of the pie. Family from each wife gets 1 house.

Only difference this time round? The houses are empty, both have very nice gardens and very nice gates.

Will need to do some renovations to it though with the first thing being I need to seal the connecting doors between the house, 1 at the living room and another 1 at the master bedroom.