I planning to buy a 1 storey shoplot (13 year old)for rm 340k n monthly rental can collect rm2400.worth or not?give me some oppinion please....

freehold or leasehold? If your bank loan & other misc payment is lower than your rental, i think shd be ok.

location of tht shoplot ?

Used is lease hold but this year will transfer to freehold,location is inside taman shoplot but very good 1 cos around 60 shoplot here all shoplot got ppl running business n this shop is surrounding by 3000 housing.Many ppl want to rent this area shoplot but no empty lot

This post has been edited by sfl: Jan 19 2008, 01:04 PM

You've already have the answer. And it all sound good to me. Make sure it is freehold.

good rate for the rental, peejay area ?

No,is JB area.

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Added on January 19, 2008, 1:40 pmNow freehold is release but the owner say if i buy transfer to free hold fee cost around rm 2k is not include so i decide if buy no need to transfer to free hold cos got 86 year more n maybe i will sell it after 20 year n can save 2k.

This post has been edited by sfl: Jan 19 2008, 01:40 PM

since you have said it's within a good catchment area which means the likelihood of renting out is high and the rental yield is acceptable...

but just be careful if you are taking up a loan to buy this shop house

Bank loan i think can't get higher cos market value just around rm250k cos this shop at 1995 price for non bumi is rm190k++ for new one.

This post has been edited by sfl: Jan 19 2008, 02:05 PM

No, if you are planned to purchase the property, please do convert to freehold as soon as possible. You won't know if there any further problems will prompts up. Just to save 2k fee and taking risk for the rest of coming years might not a good idea. You know, some savvy investors don't practice a habit of delaying any crucial work or investment.

sfl,

If everything that you said is true, why would the owner sell to begin with?? This sounds too good to be true....

Dreamer

where is the location of this so-called shoplot

One important question, is the Rm2400 rental sustainable? survey yourself or the seller told you one?

As long as the conversion of leasehold to freehold doesn't fully completed, can't take for granted. It is very dangerous to persume it will happen or happen smoothly. Please check properly if the leasehold can be changed to free hold one. Don't trust everything to the seller, although the seller might be a honest person, it is always better to check yourself with relevant authorities to verify it.

It is plain not wise just to save up Rm 2k for not converting he leasehold to freehold (if it is really true).

It is always to check through everything properly before commiting, verbal word carries no weight sometimes, black and white paper does.

Bro,many thanks for ur advice,conversion to free hold is true cos all shoplot n house at this area get a free hold conversion letter n many owner has succesfull already

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Added on January 22, 2008, 5:10 pmEverything i say confirm true cos i rented this shop from the owner about 7 year n my busines also ok.last 3 year i tell him i wanna buy his shop for rm 300k but he don want so i ask him every year till now he agree but price is rm 350k so i nego till rm 340k ,but market price is around rm 300k for bumi lot,donno worth or not

This post has been edited by sfl: Jan 22 2008, 05:39 PM

mind me to say something, in properties, there are seldom of cass such as too good to be true. many times, a seller sell his property for many reasons, migrating, need cash on hand, or anything can be the reason. i believe the buyer had done his homework and understand all the circumstances well.

property is not an item that is few thousands or few ten thousands, it basically start from few hundred thousands to million, so, before the buyer and seller agree on each particular deal, they are more than mature decide what they want and why they want to let go.

lastly, to get a rental return of 2000 plus is not a big issue in johore, thanks to singapore.

Maybe you should try to survey around if there is ppl willing to take it up at 2400 already or there is an existing contract, then worth it.

If 2400 is owner tell you without any continuing contract, thats probably a lie. Also, do u live in jb itself? It might be hassle to travel in between to settle rent n stuff

Bro i live in jb n i spend everyday 12 hour at this shop

If it's so good and profitable why does the seller wants to sell the lot.

i thought TS say that he is the one renting the shop for RM2400 and he thinks the shop location is good so he want to buy it?

Because i give him high price n i decided to buy this shop liao after CNY

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Added on January 30, 2008, 9:16 pmYes,i rented this shop about 7 year++ already

This post has been edited by sfl: Jan 30 2008, 09:16 PM

location please.................

Location at JB

wow its such a good deal. Nowadays you can buy 1.6 million shoplots and only 6k rental.

I truly believe he is asking for the EXACT location... Nevermind the exact address, just the taman will do...

for 340K and getting 2.4K rental per month
its a worth of good money

Tampoi

Ts , before buying the shop you must consider the location again , as the development of new shopping complex or urban area could shift the prime location to some other area , and maybe the landlord know this beforehand so thinking of letting it go , else why would he sell it of if the rent is so good.

Btw , if you are doing retail business best is nvr buy a shop as retail solely rely on walk-ins customer , and if you commit into buying a building then you don't have the flexibility to change location if the time come necessary.

ya....bought for 190K in 1995 n now selling for 340k so cheap??? if i'm the owner y would i wan to sell it...i can get almost 30k/yr fr rental and i probably is going to finish paying the loan soon...furthermore....it's turning into freehold!

fishy fishy...hehehehe