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> houzkey or house near singapore, investment purpose help me!!

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TSjinghan P
post May 20 2022, 10:41 PM, updated 2y ago

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Help! I am very confuse about these two houses. Any expert can give me suggestion? For investment!!
First house is houzkey which is Riverpark. So its destination is good as it near lrt. Start from fifth year i just need to pay RM1600++ per month and I am planning to rent it out. I think the rental can cover my installment. At the 9th year i plan to sell it out as now this house is just 600k so i can earn some right.
Second is the Centro jb city centre when near to singapore kastam. Just 400k and location is nice have free shuttle bus to sg kastam. But the developer is Solusi Kelana Jaya and i cannot find any details of this development. I also plan to rent it out and then sell it.

Which is the best choice?
mini orchard
post May 21 2022, 06:41 AM

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QUOTE(jinghan @ May 20 2022, 10:41 PM)
Help! I am very confuse about these two houses. Any expert can give me suggestion? For investment!!
First house is houzkey which is Riverpark. So its destination is good as it near lrt. Start from fifth year i just need to pay RM1600++ per month and I am planning to rent it out. I think the rental can cover my installment. At the 9th year i plan to sell it out as now this house is just 600k so i can earn some right.
Second is the Centro jb city centre when near to singapore kastam. Just 400k and location is nice have free shuttle bus to sg kastam. But the developer is Solusi Kelana Jaya and i cannot find any details of this development. I also plan to rent it out and then sell it.

Which is the best choice?
*
Every developers like buyer like you.

If property investment is straight forward, many overhang units would have sold long ago.
TSjinghan P
post May 21 2022, 08:22 AM

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QUOTE(mini orchard @ May 21 2022, 06:41 AM)
Every developers like buyer like you.

If property investment is straight forward, many overhang units would have sold long ago.
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ya i am a first time home buyer so i am confuse now need someone experience for advisešŸ„² Is the houzkey really worth it becos if i can rent it out to cover my installment and then sell it. It looks really great and i m trying to find its con
DragonReine
post May 21 2022, 11:10 AM

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QUOTE(jinghan @ May 20 2022, 10:41 PM)
Help! I am very confuse about these two houses. Any expert can give me suggestion? For investment!!
First house is houzkey which is Riverpark. So its destination is good as it near lrt. Start from fifth year i just need to pay RM1600++ per month and I am planning to rent it out. I think the rental can cover my installment. At the 9th year i plan to sell it out as now this house is just 600k so i can earn some right.
Second is the Centro jb city centre when near to singapore kastam. Just 400k and location is nice have free shuttle bus to sg kastam. But the developer is Solusi Kelana Jaya and i cannot find any details of this development. I also plan to rent it out and then sell it.

Which is the best choice?
*
Rent to own(RTO)/houzkey scheme, minus points:

1. Forfeit money paid for having the option to buy (if you decide against it)
if you cancel the RTO before the lease period is up, you lose your "rental" money invested in it.

2. Property prices may fall lower than the locked price
You lock price at Houzkey early, means that even if market price drop you're forced to pay at the locked price you "booked".

3. You don't own the property during the lease period so you are not allowed to make renovations/changes to the property
This is important. You cannot make structural renovations or changes to the property while it's still during lease period. You need to maintain the property during that lease but cannot renovate or change anything in the house.

4. If you miss a payment during lease period, you will be evicted and you're still forced to service the loan
if you fail to maintain the payments while it's still on lease, you will end up without the property but still owe bank money.


mini orchard
post May 22 2022, 06:43 AM

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QUOTE(jinghan @ May 21 2022, 08:22 AM)
ya i am a first time home buyer so i am confuse now need someone experience for advisešŸ„² Is the houzkey really worth it becos if i can rent it out to cover my installment and then sell it. It looks really great and i m trying to find its con
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Your idea is too simple to make money in today property investment .... buy low sell high. Doesnt matter is houzkey or other schemes.

Nowadays, most property rental WONT cover instalment if is 90% loan. If is 50%, then possible.

This post has been edited by mini orchard: May 22 2022, 08:31 AM
TSjinghan P
post May 22 2022, 09:52 AM

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QUOTE(mini orchard @ May 22 2022, 06:43 AM)
Your idea is too simple to make money in today property investment .... buy low sell high. Doesnt matter is houzkey or other schemes.

Nowadays, most property rental WONT cover instalment if is 90% loan. If is 50%, then possible.
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many ppl tell me like this but how ya. why cannot cover as i see the rental can go very higb
mini orchard
post May 22 2022, 10:04 AM

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QUOTE(jinghan @ May 22 2022, 09:52 AM)
many ppl tell me like this but how ya. why cannot cover as i  see the rental can go very higb
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Initially if you buy for own stay but because of reasons you have to move out, you rent it out even it doesnt cover your instalment to minimise your loss.

But if you buy purposely to rent out in today's market, more likely it wont unless that property is 'unique'.

If rental can go very high, more likely all are sold. You dont have a chance to buy.

Today, most landlord are 'paying' tenants to rent.

Eg .... instalment 2k, nett rental collection 1.5k to 1.8k
DragonReine
post May 22 2022, 01:23 PM

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QUOTE(jinghan @ May 22 2022, 09:52 AM)
many ppl tell me like this but how ya. why cannot cover as i  see the rental can go very higb
*
High rental areas are usually in high demand and already long sold le. If you're coming in with new under-construction property you're dealing with a fresh project with an abundance of competition.

You 100% sure your property can get tenant, 100% of the time? What will happen if vacant?

You also need to consider the costs of the following:

1) Renovation and furnishing (plumbing, cabinets, cooking hobs, electrical items, WiFi etc.)
2) Maintenance fees + sinking funds, paid monthly
3) Assessment fees and quit rent
4) Cost of maintaining property (cleaning, paint, replace broken furniture and fixtures)
5) Cost of the loan itself (the various taxes and interest rate)
6) The time and traveling costs of meeting tenants, showing the unit etc. (or if you lazy/outstation, cost of paying an agent to manage)

Aggregate all the above and consider whether your estimated rent can REALLY cover your costs.

 

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