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 Properrty with positive cashflow. But I'm scared.

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TSbogletails
post Feb 1 2023, 12:51 PM

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QUOTE(LoTek @ Feb 1 2023, 12:02 PM)
Funnily enough I have a property with almost exactly same specs as TS, but it's a condo. 800 ish value 5k ish rent (students) and yes it's a lot of work to manage the individual tenants, but for that yield I would never sell, that's why advised step with some caution, might be some hidden problems haven't come to the surface.
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Some people will sell if they need the cash. My cousin's unit also bought just 3 years ago only. Before COVID. 800k+. And he has been collecting 5k ish rent consistently all these while. MCO dropped to 4k ish rent but rebounce back after lifted.
TSbogletails
post Feb 1 2023, 12:57 PM

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QUOTE(LoTek @ Feb 1 2023, 12:02 PM)
Funnily enough I have a property with almost exactly same specs as TS, but it's a condo. 800 ish value 5k ish rent (students) and yes it's a lot of work to manage the individual tenants, but for that yield I would never sell, that's why advised step with some caution, might be some hidden problems haven't come to the surface.
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How much do you pay monthly for your condo? How is your DSR?

I think I won't take it alone by myself. Will only consider to share with dad or his sibling. If they don't want I will just let it go and continue invest in stock.
mini orchard
post Feb 1 2023, 01:54 PM

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QUOTE(bogletails @ Feb 1 2023, 12:57 PM)
How much do you pay monthly for your condo? How is your DSR?

I think I won't take it alone by myself. Will only consider to share with dad or his sibling. If they don't want I will just let it go and continue invest in stock.
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Avoid asking others involved in your investments.

Is always easier to buy compared to selling later.
xander2k8
post Feb 1 2023, 03:37 PM

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QUOTE(bogletails @ Feb 1 2023, 12:57 PM)
How much do you pay monthly for your condo? How is your DSR?

I think I won't take it alone by myself. Will only consider to share with dad or his sibling. If they don't want I will just let it go and continue invest in stock.
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I suggest you to buy a single owner unless you’re buying with your other half to start a family

Try to avoid shared ownership as it is will be complicated in terms of legal and financial paperwork in the future

Don’t just buy because you see your cousin making good passive income 🤦‍♀️ Buy only because only if you understand the commitments and the amount of energy needed to put in for sweat and passive equity
LoTek
post Feb 1 2023, 04:25 PM

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QUOTE(bogletails @ Feb 1 2023, 12:57 PM)
How much do you pay monthly for your condo? How is your DSR?

I think I won't take it alone by myself. Will only consider to share with dad or his sibling. If they don't want I will just let it go and continue invest in stock.
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3+k. My DSR is through the roof when including my other properties. smile.gif p.s. I'm just a smidge older than you.

If you're confident you have the time and effort to manage the property it sounds like a good one but bear in mind always need to have spare cash for so many weird contingencies, another round of covid, renovation costing more than you expected (very normal), freak accidents or bad tenant damaging your house, troublesome tenant, lack of tenant, list goes on and on. 6 mths emergency funds at the very minimum after you budget all the expenses for your house i reckon (i have safety net of few years of liquidable assets, if not very hard to sleep peacefully).
toiletwater
post Feb 2 2023, 10:00 AM

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Portfolio diversification. My concern is that you're heading the other way. How much would this property be of your total portfolio as a %?


BboyDora
post Feb 2 2023, 10:09 AM

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QUOTE(bogletails @ Jan 31 2023, 06:57 PM)
26, first home. DP is not a big problem as my dad is willing to invest a little too.


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I will say go for it. Firstly, it's a landed house. If cannot get rented out, you can stay inside also next time when you get married. If not married, it's a landed properties. come on. not everyone got chance to live in a landed house nowadays unless you live far away from KL selangor.

second, you dad is going to pay a portion of it. got dad support , what to worry?? So many investors out there have to take the bullet if investment goes wrong.
adele123
post Feb 2 2023, 11:23 AM

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QUOTE(BboyDora @ Feb 2 2023, 10:09 AM)
I will say go for it. Firstly, it's a landed house. If cannot get rented out, you can stay inside also next time when you get married. If not married, it's a landed properties. come on. not everyone got chance to live in a landed house nowadays unless you live far away from KL selangor.

second, you dad is going to pay a portion of it. got dad support , what to worry?? So many investors out there have to take the bullet if investment goes wrong.
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When got GF, get married, move in, will have complications. Later dad say i paid for the house, i have a say, yadda yadda...

It can get messy.
LoTek
post Feb 2 2023, 11:38 AM

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QUOTE(99Astrazen @ Feb 2 2023, 09:56 AM)
hi, mind explaining what kind of students you rent to ??
like all male / female ??

fully furnished rooms is it ??

thanks
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Yes to all
lctw87
post Feb 2 2023, 12:12 PM

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Since no one suggested, I think better if TS can go for REITS for your savings.

Easily 5-6% and you save the hassle of bad renter, payment, and maintenance of the house.

Yes, you can stay if you scrap the rental idea, but then you need to fork out additional monies to reno it.

Dont forget, if ppl report you for illegal renting, another headache for you.

All in, i dont think it's a good idea..


xander2k8
post Feb 2 2023, 01:51 PM

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QUOTE(BboyDora @ Feb 2 2023, 10:09 AM)
I will say go for it. Firstly, it's a landed house. If cannot get rented out, you can stay inside also next time when you get married. If not married, it's a landed properties. come on. not everyone got chance to live in a landed house nowadays unless you live far away from KL selangor.

second, you dad is going to pay a portion of it. got dad support , what to worry?? So many investors out there have to take the bullet if investment goes wrong.
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Don’t ever take your Dad for granted as this so called investment a lot bad blood will happen the father and son 🤦‍♀️

QUOTE(adele123 @ Feb 2 2023, 11:23 AM)
When got GF, get married, move in, will have complications. Later dad say i paid for the house, i have a say, yadda yadda...

It can get messy.
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Unless the Dad is willing to give the sin as wedding present the different story 😂
BboyDora
post Feb 2 2023, 04:08 PM

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QUOTE(adele123 @ Feb 2 2023, 11:23 AM)
When got GF, get married, move in, will have complications. Later dad say i paid for the house, i have a say, yadda yadda...

It can get messy.
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I would rather have complications if my father pay a portion of my house. hahahaha biggrin.gif


BboyDora
post Feb 2 2023, 04:12 PM

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QUOTE(xander2k8 @ Feb 2 2023, 01:51 PM)
Don’t ever take your Dad for granted as this so called investment a lot bad blood will happen the father and son 🤦‍♀️
Unless the Dad is willing to give the sin as wedding present the different story 😂
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TS is living with his parents at the age age of 26 now. u think bad blood will happen between his father and him? Even his father is paying a portion of the house. Can you imagine that?? That's the dream of so many ppl out there! (including me!)

it's ady showed so much love from his dad. give him the house...sap sap sui la.
guy3288
post Feb 2 2023, 04:18 PM

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QUOTE(BboyDora @ Feb 2 2023, 04:08 PM)
I would rather have complications if my father pay a portion of my house. hahahaha biggrin.gif
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QUOTE(BboyDora @ Feb 2 2023, 04:12 PM)
TS is living with his parents at the age age of 26 now. u think bad blood will happen between his father and him? Even his father is paying a portion of the house. Can you imagine that?? That's the dream of so many ppl out there! (including me!)

it's ady showed so much love from his dad. give him the house...sap sap sui la.
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True father son relationship dont go by money
My son bought a condo i put in 300k, i dont ask put my name also, just his name and fiancee no problem

Takkan later i want to claim the portion.
xander2k8
post Feb 2 2023, 06:32 PM

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QUOTE(BboyDora @ Feb 2 2023, 04:12 PM)
TS is living with his parents at the age age of 26 now. u think bad blood will happen between his father and him? Even his father is paying a portion of the house. Can you imagine that?? That's the dream of so many ppl out there! (including me!)

it's ady showed so much love from his dad. give him the house...sap sap sui la.
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Then you should you ask your dad to do that

If parents start doing like that the kid will never learn to earn to buy a house instead inflating house prices 🤦‍♀️

Which is why parents should learn bare minimum for the next generation and not to spoilt them
BboyDora
post Feb 3 2023, 03:33 PM

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QUOTE(guy3288 @ Feb 2 2023, 04:18 PM)
True father son relationship dont go by money
My son bought a condo i put in 300k, i dont ask put my name also, just his name and fiancee no problem

Takkan later i want to claim the portion.
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you put in 300k for your son and i intended to give the whole house to my child in future. (not to compare, no intention to compare also. thats what parents do right.... hopefully ).

https://forum.lowyat.net/index.php?showtopic=5342807&hl=

if my child naughty, i will kick him out from the house and let him sleep in the street . hahaha joking biggrin.gif


guy3288
post Feb 3 2023, 11:37 PM

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QUOTE(BboyDora @ Feb 3 2023, 03:33 PM)
you put in 300k for your son and i intended to give the whole house to my child in future. (not to compare, no intention to compare also. thats what parents do right.... hopefully ).

https://forum.lowyat.net/index.php?showtopic=5342807&hl=

if my child naughty, i will kick him out from the house and let him sleep in the street . hahaha joking biggrin.gif
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i wont be so nice like you pay the whole condo for him
and let him go galivanting with his full salary

young people want to live independent
buy house buy car ,mana boleh semua father pay only?

Must let them know money doesnt drop from sky
need to work for it.
Sihambodoh
post Feb 3 2023, 11:46 PM

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QUOTE(lctw87 @ Feb 2 2023, 12:12 PM)
Since no one suggested, I think better if TS can go for REITS for your savings.

Easily 5-6% and you save the hassle of bad renter, payment, and maintenance of the house.

Yes, you can stay if you scrap the rental idea, but then you need to fork out additional monies to reno it.

Dont forget, if ppl report you for illegal renting, another headache for you.

All in, i dont think it's a good idea..
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What is illegal renting? Didn't know got such thing.
MUM
post Feb 3 2023, 11:56 PM

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QUOTE(Sihambodoh @ Feb 3 2023, 11:46 PM)
What is illegal renting? Didn't know got such thing.
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While waiting for his response, ....
I kaypoh abit, ...maybe just maybe he is referring to something like this....


As a landlord, you could go to jail or be forced to pay hundreds of thousands of ringgit if your rental property is misused by a tenant for criminal or illegal activities.
https://www.iproperty.com.my/guides/how-to-...-property-75207

.....According to R. Paneir Selvam, a senior instructor at the Faculty of Business, Economics, and Accounting as well as the Institute of Crime and Criminology at HELP University, the onus is on the property owner to prove in court that he was not aware of the alleged illegal activity of the tenant.
SUSBrookLes
post Feb 4 2023, 12:34 PM

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QUOTE(bogletails @ Feb 1 2023, 11:17 AM)
Well I do not know the exaxt reason why owner is selling. But according to one of my cousin that rent his house out there. he say it's actually a lot of work manage a rental property. So I guess that might be the reason.
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Why dun you ask the owner why?
I am sure he will tell you.

 

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