Bought new condo in puchong with 5% rebate, served loan 5 years average 2k / M plus maintenance. Now bad timing so wanna sell but the condo price depreciated. Damn, now already told some agents help to sell with loss, but till date no buyer at all and many units waiting for sell too... Habislah I...

Siapa suruh pergi invest condo, invest bangolo, double or semi double house better depending on rigth place.

what kind of chicken stall only 120k loan?

Might as well mention the place & price here

the mistake is not buying the condo

the mistake is buying the condo in PUCHONG

Haha die la u property flipper

I do the calculation, owe bank 340k, if manage to sell I can get back arnd 310k means I hv to top up another 30k to fully settle the loan. If add in the 5 years installment I think lost 100k

Fake cerita.

TS must be those not working staying in basement type but act like as if able to bought a house.

I belib ts don't even have credit card

Half price cut losses.

stay strong bro, stay strong.


Wonda coffeee.........

Rent it out, as long as the rental can cover loan interest+maintenance fee you can break even.

can afford to hold keep lah

hi,

where is the location. pm me

keep lah. u got retrenched meh

want to know how not to regret this investment ?

rent in out for another 15 years

Don't worry after that you will get your money back

Ok la,ayam bid rm500

Believe or not up to you, is true story. Every year I have to pay cukai taksiran and fire insurance too. The first 5 years installment all gone into interest - average 1k interest per month so the principal not moving. So I already paid 60k interest to bank and now the condo has to sell at loss. I wanna release it so can have peace of mind at least less burden

short sighted

all rented owner think future market and country is stable for 30 years to break even their property investment


like what most sheep doing.

in another 10 20 years no youth will be able to buy condo anymore.
it will become a renters market. stay strong TS, hold for another 15 years you will suddenly ++net worth overnight.

unless more lands are opened for condo/residency la.. which will definitely happen. Just look at our empty landmass in malaysia lol

Padan mukak flipper

So do you suggest TS to sell and cut the loss now ?

At least by renting you can hold longer instead of it becoming a liability

Same situation with u 8-10 years back. Stuck with condo. Cant sell...but luckily rental demand very good.

So i just rent it out. Every end of the year whatever extra saving i got i pump to clear the principle...also am quite lucky my mom frm time to time also help top up to clear the principle faster...

Past 2 years the house fully paid up. Total rental minus maintenance fee, misc billls nett income to me monthly rm1.3-1.4k...plus small dividend/interest from my liquid saving asset monthly passive income around 2k+- monthly...

Yeah house is quite risky nowadays...illiquid asset...ur capital/asset stuck there for years. Thats why i dont buy many house. 2 units only. Even my bro in law, FIL try to dispose their investment unit also no takers....

Cash is king to me. In time during emergency i can even withdraw loan from my overdraft cash pledge facility...

location pm me all the detail...price?

hahahahahaha

consider refinancing your loan first to lessen the monthly repayment burden.

then consider renting it out, while you move to another place. Suddenly, your mindset will change from selling to keeping.

This post has been edited by Liamness: Jul 1 2020, 09:24 AM

Why you no rent out?

And rent out lower than your monthly installment. You'd profit in capital appreciation (+"subsidized" installment from rental) when you dispose the property in the long future.

not just rent out. if more than 5 years, should also consider refinancing the home loan. Get a fresh 35 year loan, to lessen monthly commitment. If TS can rent out the condo for 2k, he will already fully cover the loan + maintenance fee..

Why do so many think that expensive properties are good investment????

Same story as well with landed.

Its like asking to bleed twice or more monthly topping up the commitment...

My FIL landed house beside, her neighbours try to sell the house for yearsss, no takers...market value 650k++ wolling to turun until 500k baru ada buyer...buyer also lucky is datuk cash rich...500k landed subsale frankly speaking u need to standby minimum 20% cash bro...10% dp, the other % legal fees, change of ownership stamp duty, misc emergency repair, minor reno.... not many ppl have that cash and willing to splash it around. If they hve also probably think 10 times or more want to splash to get house or not...

yup. that's the benefit of having a house..

If you rented it out, it is more like a business than a sinked cost. Especially if the rental entirely covers your house loan (interest + capital)..

there are plenty of things you can do with a home that has your equity saved up such as the highlighted bold part.

And the best thing is, so long as it is being rented out, you are making money from the property. A house then becomes a net positive to your retirement fund..

So many waterfish pay rental higher than monthly installment?

I didn't say rent out at 2k. Rent out lower than monthly installment. Say 1.5k. That's how rental used to be in old days. Landlord help the tenant get a place to stay, tenant subsidize landlord's monthly installment. But nowadays people trying to look for waterfish to rent at price higher than monthly installment. If rent is higher than monthly installment, better buy lah

my brother's condo next to paradigm mall still unsold.

location doesn't matter now. where also cannot sell

lol padan muka flipper pi mampus lebih baik

which condo specifically?

Tak baik jangan ini machiem taukeh kaya incubus_skj

Price also important. Anything above 600k would be unattractive to most people already.

?? you don't understand the property game..

TS already been paying his outstanding loan for 5 years already.. if the condo was 500k, & he took a 450k loan, in 5 years, the loan outstanding balance is now 340k.. it is reducing..

around 5 years, you should look to refinance to lessen the monthly commitment.. That means TS takes up a fresh 340k loan on the outstanding balance for another 35 years.. So your monthly repayment will also be lesser..

That is how you can reduce your monthly commitment, meanwhile, rental prices generally hover around the same spot. So TS can take advantage of this by renting the unit out at market rate.. Which should definitely be more than his monthly loan repayment...

Do you understand now?.. Unless you are buying the condo at 70% loan, no way you can fight TS monthly commitment after refinancing.. Because his loan is much more lesser than yours.

This post has been edited by Liamness: Jul 1 2020, 09:39 AM

during good time dont want to sell...

bad time only want to sell... conlanfirm the price nosedive lo....

What do you mean bad timing?

Even before covid you couldn't sell out your condo because the market was saturated already.

u want to buy ka pundi

past 2 yrs is downtrend for property market.

i oso sold my landed house in rawang.... i think rugi at least 50k....

really hard to find buyer.

puchong not for humans live one

already say so many times yet still got ppl go buy LEL.. kek sial

U still think nowadays can do flipping? =.=

Even buying landed and keep it for around 10 years waiting for it to appreciate also might not be a good idea anymore.

since now no demand and price reduced, TS should buy extra units for good investment for future. Property price will shoot up next year....

may i know where the actual location.........thanks

Yes I don't understand the property game. But I am good at maths. Now you give figures, then only I can understand what you're trying to say.

This post has been edited by blanket84: Jul 1 2020, 09:43 AM

Punching which area?

TS, can do charity let go at 50% discount to me ? you rich okay la can absorb, help poor ppl like me

This post has been edited by Pain4UrsinZ: Jul 1 2020, 09:48 AM

Sell to me half, i pay cash

depend on price,and unit type

This post has been edited by pundi: Jul 1 2020, 09:51 AM

I doubt any banks would want to entertain refinancing right now (become prawnshop for the rakyat) or even giving fresh loans at this point in time is only towards really towards A-class borrowers. ( meaning you have to show a really healthy financial record).



As for the property market... it doesn't look good from the below stats. Wait till Q2 or Q3 stats comes out and then the flippers will really be flipping themselves out of the water...

Not condo price depreciate, it's you bought highly mark up condo thinking of flip it up higher. Developer Con you

after developer con....the jmb con the maintenance fees....yes..double whammy..

Buyers are attracted to the low cash upfront when buying new units. They think can flip for easy money. They forgot subsale buyers need to fork out those miscellaneous fees and not many have the spare cash.

Pucheong good for cheong.

ts tell the condo name la

sad to hear this TS.

Sama je. If shit location nobody will buy also

If you say for "right price", obviously. If TS willing to sell his condo for RM100k, I'm pretty sure tomorrow he's gonna be bombarded by phone calls by agents and buyers lol

They assumed Economic Crisis in which happened in cyclic nature:
1. 2008/2009 => Subprime
2. 2001 => 911
3. 1997/1998 => Asia Economic Crisis
4. 1987 => Sudden Stock crashes
.
.
.
100. 1929 => The Great Depression

Never exist & no one ever lost their jobs....including theirs.

/k can look at my thread regarding how my property is doing

https://forum.lowyat.net/index.php?showtopic=4987372&hl=

There is a supply overload of old and new condo and apartments in our property market. So it might be difficult for you to sell unless you set the price below the market value.

Landed property > Condo/Apartment in terms of sell back value.

he wont able to rent out 2k

ioi pavillion ah ?

my mistake was to invest in stock market few years back, already burnt 20k+
ohwait, wrong topic

johor overhang namba wan!

Maybe can try to settle at least a portion with EPF account 2?

Forest City JB one of the culprits here. Forest City has become Ghost City.

bought for own stay dun care
bought to flip padan mukak

now your option left to 2: sell or hold. But this is the worst timing for selling so it depends. If really cannot tahan, just sell it even for big loss and take it as a lesson.

if your 1000 sqft unit is more than 500k then I have a bad news for you, most youngsters now looking for new unit with 0 downpayment for less than 400k, surprisingly there are quite many options now, unlike 5 years ago where property price peaked.

Aih.. Tough times

why not own stay?

which part of Pucheong? cant rent out as cheong den?

kasi share your prop advert listing lah

Wow...value dropped from 430k (2015) to +/- 310k (2020).

WTF mang. Name the developer here so that no one get scammed anymore.

kucingkatajangan.jpg

whoever say property is a good investment really need to ask those who has done so. Dont listen to property advisor, preperty gurus, internet genius wiz. Also people who think property is a passive source of income better think twise lololol

not just isolated case, quite a lot of properties completed in the last 5 years got such issue

Hopefully you don't have to lelong it

Now the property will be a sinking hole for your finances

Depreciation plus interest from bank loan

developers still hv plenty of unsold units around and it is cheaper to get from developers, hard to get buyer unless your prop location is really good.

banglo or semi d also sometimes not very good. right place as well...

I have a friend who owns a banglo, till date cannot sell...
Market value 2.6m...a dato offer him only 1.6m.
reason the house is outdated design. He only want the land and location.
In Jalan Gasing.

its when too many thinking of flipping short term ...

My office colleagues 8/10 all live in high rise

Absolutely not worth buying

Landed property is always the best option. So worry about safety, go for gated and guarded

Only peasants buy and stay condos

This post has been edited by klein: Jul 1 2020, 11:47 AM

entering property market like sheep is already a wrong move.

Cut loss now is better than total lost.


Hold longer?

2nd Hand/ 3rd Hand Property, you heard before?
decentralized urban planning, you heard before?
not future proof property, you heard before?


EVEN if everyday is a good day for continuously 30 YEARS.
you got super good tenant who take good care of your unit + pay good rental.
what make you so sure you got life to see it? even after 30 years?




real short-sighted people always planing fantasy long-term plan, and wait for disastrous outcome.

better buy townhouse. you got the landed feel at a lower price.

for own stay or invest

never provide details like price how we all give advise?

I really dont understand "property investor" who bough condo in puchong semenyih nilai....WTF...WHAT THE FUCKING FACK MANGGG..topkek

All the prop owners every night calculate their networth based on their props valuation, must sure be going crazy thinking about price dropping

Time to die hehe

I smell so many pipul blood
Keep it coming 2021

I will use this reason next time, its good
Say i will remove all the condo interior because its low keres and replace it with victorian interior, so diskount 25%

stay inside. No problem.

Dude the house has been laying isle for 5 years? No rent out?

Some are right, developer still got many units unsold. Is bad luck as that time I in many projects always fully sold out on the 1st day launch and some even hv to ballot. So I was quite happy that time able to secure one unit. Mana tau just right after that property market downtrend and overhang everywhere. Let s pray got someone takeover my condo, I already admitted sure loss on this one and just dump it to reduce the stress

I hope pn can launch hoc2020 for subsale, offer same packages lar. Help us small citizens, why only help developers who are already superb rich. That s why gov never take care of people, only take care of tycoon

Developer SOP la....even today in this market some still say many units sold out. Really con job.

But the most con job is marketing high rise condo as high keras living.

1st day always sold out la. Later slowly get "loan rejected" unit. Sometimes up to 80% of the total units become "loan rejected" units.

what condo name?

condo? good luck mang!

if want invest always go for landed

but that's for me la...

Landed will hold its value..at least, if not appreciate..condo

good buy my friend

Consider to rent it ts? Tell place and price lah. U patut cukurr got own property unlike some ppl mau apply loan pun kena reject.