That's the problem .. but the completed one will definitely cost more, but the good thing is that can move in earlier and save rental from there
Still looking for the place .. and there are too much things to take into consideration.. haiz..

if uncompleted one, buy from a reputable developer.

Also beware that condo is strict, they have so many regulations that might restricted you.

But the most painstaking part is they have the right to charge you a high service charge management fees. Example: like me 3 years ago before buying a condo, the sales person guarantee me that at least the maintenance fees is only going to be chrage 22 sen per square feet max. After it is completed suddenly it went up to 35 sen per square feet. Cannot lawsuit also because we sign the SPA already with them. This is among condo resdient biggest headache and turn off. But of course your property will be more cleaner and properly maintained?

And also what purpose do you buy your condo? for living or as an investment? If its for investment i can even teach you some skill that can make you money even when you buy the condo, not only when selling it .

Well..the purpose is for both living and investment. Would be glad if you can share the skill you mentioned

Hahaha to apply my skill in profiting not only from selling but also buying condo i need to know lotsa stuff. This skills only applies on 'certain' conditions, location and such.

Some of the things i need to know is where is the condo location? its SPA price? its 'actual' selling price? are you a bumi or non bumi? whats the size(in total squarefoot of your condo)? is it under construction buy from developer or your buying from another owner? is there any college, lrt, komuter, shopping complex near your house, predicted projected rental? ROI? How many rooms how many bathrooms? Do you consider the condo as total investment or for own living?

Do you know that you can even purchase a quarter million or half million property by only paying 1k?

you're using speculation method? i thought you can only do that if you know people from the developer... i heard of people doing that before... anyway, i would like to know about your skills

i'm non-bumi, looking for a linkhouse, about 22x75, freehold for own stay, locations will be e.g. Bukit Jelutong, Ara Damansara area... not urgent, just part of my next plan... PM me if not convenient to reply here

Hmm to call it speculating is rather dangerous word . This is applied specialized knowledge that i learn not from any book but from street experience in trading condo. My skills is only applicable if you fully plan on ONLY MAKING MONEY ON YOUR PROPERTY, and dont have any emotional attachment with the property as your own residential. I dont plan to reveal it to the mass, as good specialized knowledge that makes money doesnt come free. I'll charge a very small fee for a personal meet up mentorship program.

Let me rought it up to give you some insight. In residential be it house or condo or apartment, especially the under construction property Sales and Purchase Agreement price that usually written in ad for sale is usually never the 'actual' selling price. My skills involved having developer as your 'associate' so that you make money even when you buy the property. I profited 17k++ from this, I have seen the confidential refund list of developer that theres even some other people makes 22k++ out of the same unit with me . You'll make hell lotsa more when you sell it off after you rent it out for 2-3 years time 'speculating' on the difference between SPA price and 'actual' selling price to the potential buyer. Any bumi investor here may pm me I'll personally show you how your 5% or 7% bumi discount can give you lots more profit from my skills.

From your quote know people from the developer? Its a piece of cake. With communication and sociable skills I simply makes friends with the important people inside developer(Credit Control Department Manager) and help them sell off some of their unsaled condo or townhouse for a commission ranging from RM5k-RM10k per deal depends on what type and value of the residential unit. Even if you dont have contacts within inside people of the developer they simply mail you after you buy a unit from them, asking if you can direct any other person interested to buy a unit from them, and the deal is ON, you will get the same commission as I mentioned before. So this makes me a free agent of the developer. But this one is a totally another different things.

I wanna teach people who trust me here how in Malaysia can make money, don't simply need to work really hard, just need some guts to do it, blend with complete knowledge on the property your about to invest. So dont blame the government of Malaysia or Pak Lah or whining on the Real World Issues thread when you cant make money.....

in other words you team up with the developer to make an "earlier" booking on "hot cake" units, corner lots in linkhouses for instance? then sell it of to "potential buyers" and make instant profit on the spot, right? i've heard of this actually... just didn't know how things were done, still in highschool that time

of course there's added advantage for bumis... not only guts... that i think what comes first is your networking, 2nd guts, 3rd cash

how method sounds like a good way to make fast money... especially next year onwards where most development are half done, unsold units most probably will retain it's developer price... for condos especially...
how much are you charging?

what do you think of the current property market? mind sharing your transaction history?
i have a few colleagues who are potential buyers, PM me if it's not convenient here

This post has been edited by kenji1903: Aug 7 2007, 11:42 PM

Your first paragraph on roughly how the transaction was done was definitely incorrect!
Fast depends on your own term how you define fast. Money will come depends on how fast the property will be completed, and you must buy direct from developer for this to work. Of course buy from reputable and established developer since you know lah how many projects left uncompleted here in Malaysia.

Most normal people will suggest you to pay out 10% from total downpayment for your unit and take the fastest amount of loan possible to quickly clear it off. My strategy is definitely the OPPOSITE! Thats why i get extraordinary reward than the average people buying and selling condo does.

My market sentiment is not like normal people who analyze property booming sector as a whole in Malaysia, political and economy and such. I specified in EXACT LOCATION which your going to invest. I doesnt matter what year is recession or what year is the business booming. If the condo you invest in,beside it is a college, in front of it is a shopping complex, your backyard is full with shop offices from Multinational company, you will constantly make money and charge a premium for rental ratesor selling prices. Hope you get what i mean.

I will formulated the skills as its all in my head right now and arrange it in written form so that people that get a mentoring with me would understand the principles easily, I will pm you when its ready. Personal meet up and mentoring maybe I'll charge minimum around RM150-200, I will charge a little extra if you want me to research any condo, apartment, house that you plan to buy, whether it is strategic for investment, help you secure a 'better' deal with the financer and developer. I interested only to teach people who seriously seeks this kind of opportunity and really take action and invest in themselves to make money.

You manage to make RM17,000 and already act like a big-time "sifu". Questions:

1. How many years experience do you have in property investment? 6 months?

2. How many property do you own? Only Cyberia?

3. How old are you? If you are earning less than RM2,000 salarywise, should be below 25?

Yeah, yeah, I know about how to buy property with no money down ... I've a friend who has a net worth of over RM400,000 ... not just RM17k ... and he offered to teach me for free

This post has been edited by Malefic: Aug 9 2007, 12:39 AM

To be exact, more than 3 years already.

You can learn from your friends then.

Im on my journey to success, as you can see im only 25 years old. Im not Azizi Ali or something to preach everything about investment, nor bragged about it.

I just wanna teach SPECIFIC skills to people who wants to know how SPECIFICALLY to make money not only when selling but also when buying from developer.

If your friend have a net worth of 400k good then coz im not far behind, I have a net worth of 328k.

No money down is piece of cake, everyone can do that. What I need to highlighted here is, the minute I signed the SPA agreement form I'm already entitled to a 17k money.

You can doubt as much as you want, only people that wanna learn and absolutely believe it can happen will reap the benefits.

This is my last post here, if you guys thinking im scamming here then fine, I'll keep it within myself and makes much more from a very simple principle.

Adios~!

every now then then ppl get challenged for what they had posted n they either choose to silent way out or prove themselves with facts , either way ended up stop posting or argue with retards....

i just hope fellow LYNers here if not share here but will continue to share in other topics... we need others' experience sharing n not just mention ppl's/frens' net worth or ability, rite?

Yeah, correct.

Anyway, I posted so much i think some brilliant people or a genius could simply analyze all my posting and analyze what specific skills/principle im refering too.

Okay lor this is the final one.

Hope you can share the knowledge with me too max_cavalera

my bad mate
that's one "speculative" method i heard of... but yours seems to need some holding power... with some tenancy agreements, you can move on to the next property... but without a strong payslip, getting the next loan will pose some problems... unless of course... your method does not depended on a loan?

also quite a bit of cash for downpayment if you plan to buy one every 1 or 2 years...
you mentioned about 17k profit after signing the SPA... anything to do with bumi status?

what happen if you have a house at a not so popular location and difficult to sell....is there any magic that you can do to sell it at a profit ? at least cover your cost lah....

mate, i think your scenario is a bit misleading, as u didnt tell everyone the full story. While I know your methods is definitely do-able, but you should re-phrase the word "profited" --> borrowed

Is not really a skill mate, its called taking advantage. Its illegal IF u got caught BTW.


btw spana :

house at a not so popular location and difficult to sell --> u should stay there until the selling price meets your target price, then only sell it off.
I seriously believe setting a good investment goal + proper homework prior buying the said property could've avoid this issue.

I'm cracked up looking at how this topic strayed

that is usually what happens when someone is trying to promote their service/blog in the middle of the discussion
always ask you all to PM lah...refer their website lah...sien

anyway back to the discussion for this topic.

To buy a condo/apartment , basically what you need to prepare is:

- Booking fee (how much is depends on the developer) mine was 2k
- The 10% downpayment of the property.
- Apply for home Loan. (Fixed, Flexi or others types.)
- Developer's side's Disbursement and legal fee (Free for some developments) Mine was RM250
- Legal fees for Bank Loan (Free if you take free moving cost home loan package)
- MRTA (Insurance for your loan) - Take note some home loan already include this together.
- Maintenance fee deposit when key handling. (Usually 3 months i think)
- Fire insurance


Another scenario. let's say If you buy a property of RM250k and you only want to borrow RM200K.
1. Pay the downpayment.
2. Apply the RM200K loan and pay the necessary legal fees.
3. Wait for the progress of the construction. When it's time to pay they will send you the bill.
After paying the 10% which is 20K, you will have a balance of 30K to pay the developer.
When the bill comes out, you pay your part until 30K then the developer will send a letter to the Bank stating that you have cleared the outstanding and asking them to release the money from now on.


Just my 2 cents trying to help.
Please add/correct me if there is any left out or wrong.
peace.

mind explaining on the "illegal" part?