Is it worth to get a unit with three car park lots, For renting out
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 Oct 24 2021, 03:09 AM, updated 5y ago
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#1
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Senior Member
4,700 posts Joined: Mar 2012 
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Is it worth to purchase a unit with three car park lots?
Purchase of property for renting out purpose. Renting out the unit to tenants is it worth to pay for the third car park lot, eg. need to pay extra RM20k  This post has been edited by Blofeld: Oct 24 2021, 03:10 AM |
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Oct 24 2021, 01:55 PM
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#2
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Senior Member
4,700 posts Joined: Mar 2012
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QUOTE(mini orchard @ Oct 24 2021, 06:19 AM) To recoup your investment, lets say the rental is 150 pm, you need about 11 years to recover the 20k. That also depends on whether the car parks are tandem or side by side. On the other investment side ...eg FD...@ 2% pa ... at end of 11 years, you will have 4.4k interest and plus the principal .... 24.4k  QUOTE(DragonReine @ Oct 24 2021, 01:27 PM) For investment, no, RM20k is a big amount for a carpark that may or may not be used, as above mentioned it'll take a decade at least to recoup the investment + it won't cover the loan interest. ThanksOnly buy if you're big shot/big family with many cars. True also Some may not be driving cars. Some may just ride bikes. |
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