Dear All,

Hi! I'm an Engineer getting a RM2K salary. I've been on the job close to a year now.

I'm planning to invest on real estate....preferably apartments for student/small family rentals. Basically, this is to enhance some passive income.

Since I'm a newbie....I need some solid advice on real estate and loans in Malaysia. Below is a load of questions...


1) Is an apartment worthwhile investing in?
2) Will the market value drop?
3) Is it better to have the apmt close to colleges to garner more students?
4) Where's the best place to invest for an apmt in Malaysia right now? Any recommendations?
5) What are the basic requirements in an apmt for students/small families?
6) What will you get for an apartment which is 150K-200K?
7) What are the kinds of loans I can apply to? What will be my commitment monthly/yearly?
8) Is there like a middle person to look after or maintain the property?

Appreciate your replies!!!!

1) Is an apartment worthwhile investing in?
Yes, but are you a good investor?

2) Will the market value drop?
Market value rise and fall are part of the macro economy.

3) Is it better to have the apmt close to colleges to garner more students?
You may garner more student but does your investment makes sense?

4) Where's the best place to invest for an apmt in Malaysia right now? Any recommendations?
Talk to different agents. It's part of your learning if you want to be an real estate investor.

6) What will you get for an apartment which is 150K-200K?
A 150k to 200k apartment?

7) What are the kinds of loans I can apply to? What will be my commitment monthly/yearly?
I'll let others answer.

8) Is there like a middle person to look after or maintain the property?
Talk to real estate agents.

1) Is an apartment worthwhile investing in?
What kind of investment are you looking at? rental yield or capital appreciation? Usually non-landed property provide better rental yeild while landed property give better capital appreciation. As for a start, investing in apartment will be a safer bet and learning process.

2) Will the market value drop?
Like Jason said, it depends on economy, but also depends on location and type of property. Some have better resilient during bad times.

3) Is it better to have the apmt close to colleges to garner more students?
Students market had proven to have better resilient (better but not always) during good times and bad times. But there are other challenges when renting to students. They might not take good care of your apartment unlike renting to working adults or families or expats.

4) Where's the best place to invest for an apmt in Malaysia right now? Any recommendations?
#1 Klang Valley, #2 Penang, #3 Johor Bahru

5) What are the basic requirements in an apmt for students/small families?
Students - Basic (grill, fan, light, minimal furniture)
Small families - Depends, some require fully furnish.

6) What will you get for an apartment which is 150K-200K?
Apartment lo

7) What are the kinds of loans I can apply to? What will be my commitment monthly/yearly?
Rule of thumb, ((your car loan + housing loan + other loan)*100/(Salary+other side income)) less or equal to 40% ..
This is merely guideline.. you can check with respective bankers..
credit cards will also considered by bankers...
Visit www.money3.com.my to learn more..

8) Is there like a middle person to look after or maintain the property?
In general.. owners take care of their own property, unless you employ someone to look after ..

Talk to RE agents.. Buy some books and read.. The best investment is investing in yourself first by reading books about RE investment.. Buy those books that are written for Malaysian Investors.. Good books written by Milan Doshi, Azizi Ali, and Renesial Leong.

Go thru some good forums and learn from Gurus

Attend property fairs, as they have a lot of property seminars around

Its good to hear that you are interested in investing property although only working close to 1 year.. I started investing after working 1 and half year as an engineer as well .. now I am working close to 4 years already and into my 2nd property..

All the best and good luck

This post has been edited by eugene jk: Jan 28 2009, 03:56 AM

Very good suggestions here, 100% agree. Especially beneficial for the one lacking experience. I know I benefited tremendously from this

This coming from the Maytower investment taikor.....better follow. Just click on the website on his siggy. Pai, I'm impressed

minolta

Thanks Minolta, u r very kind

So, r u planning to join the Maytower club?

For a RM2k salary you can only go for a 150k with 10% deposit at the most. For 200k, you need a salary of RM3k. This is taking into account a 30 yr loan.

Estimated repayment for 30 yrs

150k - RM746 per month
200k - RM995.62 per month

This post has been edited by DannyOP: Jan 28 2009, 04:49 PM

actually..b4 even replying to all your qs, are you sure you can afford the commitment of a loan at 2k salary? net of 2k, you are looking at 1.7k+, so lets say u have zero other comitments, meaning stay with parents, using parents car, eat at home, how much can you put aside monthly to service the loan? and having only workd for 1 year, its unlikely you would have saved up enuff for the 10% dp required for most loans

go to www.money3.com.my, they have all the loans available locally, easy to input in your salary, the dp you can afford and find out how much is the max loan you can get.

my 2 sen, its great that you start thinking of investing at so young a age, but at 2k, you hardly have enuff to set aside for rainy day, let alone as big a comitment as a property

Property investment needn't start in a big way. sometimes getting a low cost flat between 40k and 60k with minimal monthly payment, and rent them out is a good start for someone with 2k salary.

maybe we should guide him on ala baby steps rather than doubting his credibility/lack of options. Not many people think like TS these days.

This post has been edited by alanyuppie: Jan 28 2009, 05:19 PM

Yup. TS salary will eligible him to buy a low cost flat.

I tried to apply one but got rejected due to my salary.
In the end I lost RM1000 from consent and legal fees.

---

Added on January 28, 2009, 5:42 pm4.35%?

I like to know. Do you loan 100%?
I am buying a 120k property for 100k.

This post has been edited by jasonhanjk: Jan 28 2009, 05:42 PM

wah very good calculation. you are right. It is based on 4.35% since I have the 4.35% chart with me, however there are better rates now from our panel of 15+ banks since BLR has dropped.

Most of our banks offer up to 90% max so if you're talking about 120k property at 100k then 100% loan is possible.

Alanyuppie,

I agree with you. Just because a person is just starting out in his / her career or earning 2K a month, this shouldn't be a deterrant to a person starting out in property investing.

I bought my first apartment before I got married, whilst I was still staying with my parents. I'm pretty sure I earned less than 2K then.

Admittedly, I had lodging and food provided for by my parents. I stayed with them for the first 3 years of my working career. I also had no car back then - and suffered for 4 years via our beautiful LRT.

Rak3sh,

I'm going to offer my personal philosophy to you. Again, it's your decision to make.

1. IMHO, Nobody can make you feel inferior without YOUR consent. Do not listen to all the naysayers. YOU decide based on your financial situation, what are the steps you should take. No one knows your lifestlye better than you.

2. Invest in yourself first. In other words, take the time to know what you don't know. Like what Pai mentioned, please do take the time to learn from other investors. I'm stil learning, and am glad to have known a few people in this forum. like - our Maytower taikor Pai.

3. I have read many books on investment, properties and personal finance. But, this book had a deep impact on me. Please do have a read when u are free. "Creating Wealth" by Robert G Allen. Fantastic book on real estate.

Good luck!

This post has been edited by Phoeni_142: Jan 28 2009, 07:00 PM

Agree that never too early nor too late to invest...

Suggest to learn more, read more, know more ppl in the industry and pay more visit to showrooms and existing subsale units.. never be too shy to engage RE agents to bring to the apartments... you may find your 1st property after 20th or 50th or even 100th visits... Don't care lah.. visit whatever show units that are around (apartment, condos, DSL, Banglow, shoplot, office units etc.. even condos in mont kiara that worth millions that you can't effort) ..

What I have learned is that we need to build the confidence level in ourselves as there are ppl advise us to shy away from RE investment. There are a lot of uncertainties as property is influenced by numerous factors, and we need to have the confidence to make our judgement right ..

Hey Pai... I tengah kumpul bullet for Studio unit.. you have to pass down some knowledge later ya...hahaha

This post has been edited by eugene jk: Jan 29 2009, 01:53 AM

I started learning and looking at properties 2 years before I sealed my 1st deal. Didnt buy until I was EXTREMELY sure it was the RIGHT buy

Boss, was wondering..........why you r gunning for studios?

f


I bumped into that via your siggy link and was very surprised. Never thought of the potential for small niche market till now. Only thing I'm worried of is the sustainability....not that I'm doubting your investments, but I'm worried of the coming 12 months. I'm contemplating now on buying now for rental income or wait and save my bullets. Wait & see for the next 12 months or so before plunging in. If there is no upside in the economy withinn the next 12 months, then the credit squeeze will be worst and we will finally be seeing the distressed sales we've all been waiting for(you know you want it too haha)


cheer,
minolta

Hi Minolta,

Here's my view on your thoughts. You could wait for 12 months but Im confident the following will happen :

1. You'll not get it at today's low prices. Today you can get a 351sqf for just above 200k. 6 months ago you could get one for a mere 170k only. There arent many many 351sqf units in the market anymore.
Similar studio by comparison, a 380sqf Casa Mutiara is selling for nothing less than 260k-270k, despite the fact that Maytower has the better location and the rental rate is same for both studios. My take is in 12 months, one has to pay min 10%-20% premium VS today's prices.

2. Valuation and credit issues - U might not get 90% financing and you might have problems meeting the valuation set by the seller. Even if yield and ROI makes sense, valuer and banks will always go for a conservative stance. Today, u could still get 90% financing (or even more ) and financing rates are still bloody attractive (approx 4%).

3. Distressed sales - Its gonna be very hard to find unless we have a major economy collapse (KLCC sells for 800psf, MK & Bangsar at 400psf etc) . Reason is simply bcoz rental yield today is too great + these 1st owners bought their units for less than 200k. They can rent their bare studio at only 1k today (fyi bare unit is rented at 1.2k today) and still be cashflow positive. No desperate owners == do distressed sales.

4. You'll be forced to buy bigger units like 439sqf, 466sqf etc when all 351sqf units has been snapped by investors. That means you pay lower price psf but higher price on absolute amount coz if the bigger size. Rental wise both 351sqf and the rest is about the same. Got to know that a 439sqf today was rented out for 1.8k p/m for 1 year. I got the same for my 351sqf unit

For your sake and my sake I hope that my predictions are wrong. Lets revisit this in 12 months to see if I come even close to my predictions. All the best

This post has been edited by Pai: Jan 29 2009, 01:56 PM

Pai & Minolta,

My 2 cents - if things get even worse in 12 months - it's probably one of the best times ever to buy landed.....

In that sense, suggest we keep a "buffer fund" if that oportune time becomes a reality.

Looking forward to that too

landed in good areas cost a bomb......and 20% deposit (assume credit crisis is really that bad) is probably approx 100k already.

Not sure if I can afford that amount in 12 months

My friend, I'm sure u can.

1. If the economy turns bad - banks will tighten as a whole - but they are not stupid - they'd still want to get their hands involved in subsales - especially in those so called "mature & stable" areas.

2. Like it or not, we live in a very materialistic world. I could be wrong, but it's highly unlikely for valuations in areas like TTDI and BU to fall short.

3. If u get at a bargain price - the 20% down is just to "tweak" your COCR. (Using your lingo). But this is one of the few times which I'll break the COCR rule....Why? Because I would have built INSTANT equity by buying the undervalued landed prop. Again, this is different from potential appreciation.

4. Btw - One particular DSLH in TTDI 22 x 75 - baharuddin helmi - now is going for 450K (Negotiable). Just to give u a benchmark, that's about the transacted price for a SSL. Saw it, but didn't quite like it for certain reasons. Point is, more rampant bargains may become a reality soon.

This post has been edited by Phoeni_142: Jan 29 2009, 02:48 PM

Pai, you have me sold on Maytower. I have been doing my research, and have noticed quite a few units for rent and sale. Also, I noticed that Capital Square isn't doing very well.

I am quite worried about the fact that it caters to expats, as i presume there aren't going to be many coming in over the next year or so, and some are already getting sent back. What is your opinion on this?

Also, any idea what is the going rate per square foot for a fully furnished unit now, and anything to watch out for?

Thanks man.

Hi chief


Plenty of units for rent -- Yes. I've pretend to be prospects and view these units before, most of it comes with mediocre furnishing and layout. No chic factor at all. The good ones are usually taken out in less than 1 week, provided asking price is reasonable. My unit has never been vacant for more than 10 days, in fact most are taken up before its even ready for occupancy.

Plenty of unit for sale -- No. In fact in the whole of Jan only got 1 advert for sale in TheStar.

Great example of a wrong product targetting at the wrong crowd at the wrong time. No surprise to me. Still, heard BRDB will launch their 2nd condo block for rm900psf.

Imagine the spill over effect that would have on Maytower if it finally materialise. Maytower today sells for less than rm600psf. The gap will be a lot closer 5 years down the road.

Good thing about Maytower is that locals like it too. In fact my current tenant is a beautiful sarawakian-based chic, and she pays me 1.8k rental per month.

As for expats, I noticed that there are many low budget expat especially engineers who r renting Maytower. Reason, cant afford those KLCC, Bangsar, MK properties and wants something nearby major public transportation. Technically, Maytower is their only choice at below 2k p/m.

Here's a tip if u wanna gauge the rental demand for maytower. Run a fake Star advert asking for 1.7k f/f. U should receive no less than 10 genuine enquiries within a week.

Go for the 351sqf units if u can, coz they'll give you best return altho more expensive if u calculate price psf. The 439sqf and other sizes (as long as studio) commands approx the same rental as the 351sqf units, hence why pay more? A studio, is a studio irrgardless if its 351sqf or 500sqf.

Also, try to go bare units as the ones selling FF units usually gives really crap funitures, think u'd be better off startin from scratch. If you can get a 351sqf unit on a high floor for less than rm600psf, I personally think its a decent deal.

Good luck hunting

---

Added on January 29, 2009, 6:36 pmDisclaimer : Im extremely vested on Maytower, so its best to do your own research before making any investment decision. I shall NOT be liable for any loss or profit made should you decide to invest in Maytower. Caveat emptor.

This post has been edited by Pai: Jan 29 2009, 06:36 PM

Pai bro,

Haha, I don't mean distressed sale at Maytower, but opportunities at KLCC/Mont' Kiara area. Or even landed properties elsewhere(but this I think is very unlikely even in this downturn). My price outlook for Maytower in next 12 months is maintain or upwards as long as the rental demand is there, which would likely be in view of the niche segment. So basically a toss up between Maytower or a possible distressed sale elsewhere.....time will tell bro. Happy bull year for both of us haha.

minolta

Pai,

thanks for the detailed replies. i am all systems go at the moment. the only thing holding me back happens to be married to me.

i have been looking for an undervalued bangsar condo for quite a while now but it's quite hard to find.

it is equally hard to find a nice condo around the pj area which is undervalued.

and here i was thinking it will be bargains galore by now.

I see, if thats the case then Maytower can probably wait. The only risk here is that the distressed sales are not much of a bargain while price for Maytower continue to rise

Either way, good luck and personally think its gonna be a good year for those who prepared.

---

Added on January 30, 2009, 2:15 pmu r smart, taikor.

Im also on the look for cheap Bangsar properties but so far prices have hold pretty well. However, I have concerns over short term (1-3 years) demand levels for Bangsar, KLCC and MK due to declining expat supply.

Ah well, as long as one have enuff reserves to hold a property for min 3 years, guess it wont be much of an issue.



This post has been edited by Pai: Jan 30 2009, 02:15 PM

I'm looking at an office block in a well-maintained buidling in the city center, going for less than 100K. I'm really having fun here lol

---

Added on January 30, 2009, 2:22 pmThat's just temporary. If you can hold, then it's practically free money. They have to go up sometime just don't be losing your job, that's all

This post has been edited by wodenus: Jan 30 2009, 02:24 PM

wah, berapa yield this one?

City center what do you think? it's a distress sale though going to have a look at it soon. Apparently some company bought too many units and got a little overextended lol

boss, city center office lots can give anything from 4% up to 9% gross yield, and yield is often determined by the entry price.

Just be extra careful prior committing to the prop as good properties often doesnt come cheap. Good luck

Hi Boss.. I guess you have much elaborated my question for past few post .. haha...

I have been eyeing on Casa Mutiara, because of its surrounding areas like BB, Sg Wang and LRT station.

Expats had been downgraded from hotels to studio units due to cost cutting IMHO especially during this economy down turn..

Big luxury condos in MK and KLCC areas are pretty much affected by this turmoil.. partly also due to over supply of such luxury condos and so co-incedents all the luxury condos are completed recently at the same time.. This condos are demanding rental between 5k to 20k per month..

Also I have come to know that not only foreigners, locals are also part of the tenant pool for this kind of property..

Actually we have a service crisis now. Serviced condos suffer from the same problem as the Internet, they're dependent on too many people. To run a proper serviced condo, you need people who understand, who "get it", who dress well and speak well and know the unwritten rules of the luxury class (after all, it's a luxury condo they're marketing, isn't it ?). How are they going to find people like that? they'd have to pay lots and lots and even then, such people are in very high demand in sectors that pay more. So they're going to have staffing issues.

A luxury condo must have luxury service. Floors have to be cleaned and waxed, lifts must be fast and clean and never break down. There should be doormen and attendants.

Looks like someone has been doing their legwork .....

Whats your target price to go in?

Hi Pai... not much legwork la.. all this are from reading the Gurus' discussion and also from magazines and news papers and online articles..

I am still very alien to this kind of property.. I currently only having an apartment rented to working adults..

Like you say.. have to do a lot of study and research before going into it

I am looking at 355 sqft at RM200k to RM220k with partly to full furnished.. possible??

What do you think about the current expat market now ??

1. Possible, but u need to be on the ball with agents to sniff these bargains and perhaps its good to talk with CM insiders as well. They will be the 1st to know if anyone is selling.

Btw, u know about Swiss Garden residence nearby CM? Last few developers unit on a high floor apparently was bought for over 500k (a 6++ sqf studio with 7% guaranteed returns). That means these units were selling for RM800-Rm900 psf. Crazy stuff


2. Expat market in general is very bad. But, Casa Mutiara IMO is a bluechip property with unreplicable(so far), strong moats. Despite the fact that 98% of tenants are expats, occupancy is still very strong and rentals have been very resilient VS condos in expat areas like MK, KLCC or Bangsar. I know a fren's unit, was rented out in Jan barely 5 days after advertisements for 2 years tenancy at RM1900. Good deal huh


Btw, like Maytower Im obviously vested in CM , so its probably best to get output from other ppl like agents, tenants, other owners etc. Also, there's a thread for CM owners, you can do your research there as well :

CASA MUTIARA DISCUSSION THREAD

Good luck mate

This post has been edited by Pai: Jan 31 2009, 02:18 PM

Thanks Pai.. great help from you here..

MK has dropped quite a bit hasn't it?

Anyone bought Windsor / Waldorf??

any opinion on PRIMA REGENCY??

yeah - but only in certain parts....your "lower end" portion - i.e. I-Zen and Bayu - seems like the price is dropping by 10 to 15% - perhaps indicating that buyers / speculators want a speedy exit.

however, your higher end ones - like Aman, Sophia, Banyan - seems quite steady.....hardly any price movements.....YET.

Seem to be getting the impression that prices are flying up over at Solaris Dutamas though.

Heard a diff story from a friend though. His mate's Aman has been vacant for over 6 months, asking rental came from initial 12k p/m to 7k now, and still vacant today.

Dunno much about price movements, but tenant supply is terible now. Solaris Dutamas tot' is still 80% empty, no?

Hey mate,

Good point about Aman's rental.....Was talking about price though.......those buggers quite the steady.....well, at least from the Classifieds anyway.

Solaris masih baru baru mah.......but I think 80% is a bit on the high side....The commercial district is booming......HLB, Maybank, Pubs, Restaurants, Pool clubs galore....quite a number of chun chicks too.

ok, on a serious note - the prices is escalating rapidly, my own personal observation only.

Yea Solaris kind of fun to sit and watch. Sometimes people sitting next to each other will talk to each other via their MacBooks


EDIT : OMG, found a Bayu apartment at 500K, that's almost ridiculous lol anyway the Internet there is not by TM right? it's by Siemens or whoever


This post has been edited by wodenus: Feb 1 2009, 01:21 PM

thinking to buy apartment for investment too..perhaps can find 1 unit in JB..because i working there...got Prima Regency in my mind but wanna seek for advice from taikon here...btw this will be my first time...

regards

btw which 1 is more suitable for investment?landed or apartment/condo

Looks like I got a good bargain here:

Hi. Mr Eugene Pang.

At present we have the following studio unit at Casa Muatiara available:

a. size: 310sf
Floor: 13A
Furnishing: fully furnished
Tenancy: tenanted by a Japanense at the rental of approximately rm1400pm.
Car Park: Nil
Price: RM 220,000

b. Size: 475sf
Floor: 17
Frunishing: fully frunished
Car Park: 1
Tenancy: presently tenanted at rm1800 pm
price: RM 300,000

Let me know if you are keen. Let you know if I have Mayflower unit

Thank you

Hai... but no $$ at the mean time ..

These are not cheap, but still casflow positive.

Btw, whats Mayflower?

Press them from 220k to 200k for 310 sqft ?? hahha

You Maytower bcome Mayflower liao..

Rental is generally softer for sure. The high end ones have rental prices falling and there are new condos completing/completed recently/soon. As such, the pressure is on the owners...sell or keep? One thing about Mont' Kiara area that most do not appreciate is that the buyers have the income to support even if the units are not rented out. And not all are for rent.....own stay makes up at least 50% of buyers. So most will just hold on. No one can tell when will the economy boom out again....but I think everyone's sentiment is that when it booms, it will boom fast. Furthermore with the recent drastic cuts in interest rates, holding on is easier. While prices will come down, it will be slow.....not the distressed sales...yet. That's why my outlook is 12 months. If no distressed sales within 12 months, then likely there will be none. Interest is low and will only get lower if the economy stagnants. There are lotsa crocodiles out there waiting to buy.....bet lots of them are reading thread like these right now. So in general, the fight between buyers and sellers boils down to who can wait the longer.

Solaris is booming. Everytime I go there, sure got some new store opened.

sure boh? Tot' its more like 80% buying for "investment"?

---

Added on February 3, 2009, 1:23 pmGenerally in line with my expectations as well.

Should BNM jacked the rates by 50bps last month, we'll see few distressed sales by now. Too bad they didnt, interesting to see how the whole game plays over the next 12 months.

This post has been edited by Pai: Feb 3 2009, 01:23 PM

well, my personal view is that any tweaking in monetary policy will benefit people like u and me, Pai.

I think BNM's move will not make any difference, considering our system is flushed with liquidity. Secondly, just using some primitive thinking - distressed sellers would normally be so distressed that any reduction in interest won't make a difference by then....those poor sods would have problems even servicing their principal....let alone interest.

nevertheless - let's see how it pans out....

how about this Brunsfield Cityview..if fully furnished how much can rent out? it's easy to find tenant?

I'm first timer here, just 23 not long ago and wish to learn more about property investment. Monthly salary only 2k + side incomes

Anyway read up on some of the topic here and found out alot of great advices, will do some more reading.

wat the best investment apartment at kl that below 200k

Interested in property within RM 200k with positive cashflow too...

i got one on hand, in the midst of getting my loan done.

need another one for this year.

All proposal are welcome~


Regards

Merce Chua
Mortgage Sales Executive
OCBC Bank (M) Bhd
Jalan T.A.R
019 - 913 1127
ChuaCChie@OCBC.com
----------------------------
Call me for the FREE items;
FREE OCBC Mortgage consultancy
FREE Personal Loan consultancy

So is May tower still got units for sale?? what's the current pricing for the smallest studio???

detail?

i believe u could get one for as low as 205k now

Thanks Pai.
Just out of interest, want to see the location myself tomorrow. Got detail of the address??? is it near Dang wangi LRT station???

What's the appreciation rate since it was built til now??

Find Capsquare, then u can see Maytower right accross it.

Appreciation rate varies as there's significant difference in entry cost for each purchasers. I know some of the owners made like 1000% returns, and some lost money.

So Maytower's appreciated at all? how old is the building

interesting, is the unit still available?


Capix;

didn't manage to proceed with the deal due to certain issues.

The agent wont refund any of the deposit in case i cant get loan approval.

So i back off...

will have to look for some other bargain.


Regards

Merce Chua
Mortgage Sales Executive
OCBC Bank (M) Bhd
Jalan T.A.R
019 - 913 1127
ChuaCChie@OCBC.com
----------------------------
Call me for the FREE items;
FREE OCBC Mortgage consultancy
FREE Personal Loan consultancy

any comment regarding prima regency jb?

Anyone ever consider wangsa maju's cheap old apartment??? some are as low as 80k to buy.

But the agent I talked to said that this grade of property are usually prone for rent collection issues.

Any comment???

BTW, went to check on Maytower, really nice lobby, got a colleague who lives in there, the hot water system seems to be a problem i think. Also got people talking about the area isn't too safe.
What are you view toward that??

For Maytower,

hot water system isnt a centralise system, so my guess is this problem is confined to your friends unit

As for security, perception is one thing, but when you do a proper research, u'll find that a large number of tenants are young single ladies, working in MNCs in KLCC and Bukit bintang areas


Wangsa Maju flats, there's some money to be made but collection will always be an issue (unless u r very selective when it comes to tenant selection). Its a recession proof property IMO

Crisis Create Chances!

this is what i think.