Industrial need holding power over many years. Often more than 10 years. You buy and just leave it in your drawer.
Not for those who want fast money or want to exit quick. Also not for those with borrowed money.
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Property News
- Thread starter FHBH12
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Industrial need holding power over many years. Often more than 10 years. You buy and just leave it in your drawer.
Not for those who want fast money or want to exit quick. Also not for those with borrowed money.
Hmm....but at what cost?
Is that even true? Do the folks here in this forum really have their heads stuck deep in the sand without knowing that there are horror stories from simple theft to huge property losses? If we conduct a poll of Singaporeans in general, wouldn't they agree that JB is not as safe as Singapore? I think even the locals would agree. But having said that, we are not suffering from paranoia. While not denying the facts, the reality is not as bad as people tend to paint either. No country is immune from petty theft to huge property value loss, including our own Singapore. I have friends who did not step into JB for almost 20 years because of one bad experience, but have just recently been making trips across the Causeway on his own after we brought them to live with us for a couple of days. Their eyes were opened to see that things are not as bad as they perceived but neither do they let their guard down. You make regular weekend stays in JB too, and petty theft does not bother you one bit, right?
You hit the nail on my head!
This sentence aptly summarised my situation back then: 'You buy and just leave it in your drawer'.
After I bought it, I left it there until one day several years later, I decided to go and take a look at the site to see if the site has turned into a forest!
Indeed it was! I had wanted to hang a banner advertising that the land is for sale and would need some support to hang it. As much as I had guessed it, the plants had become matured trees...
This sentence aptly summarised my situation back then: 'You buy and just leave it in your drawer'.
After I bought it, I left it there until one day several years later, I decided to go and take a look at the site to see if the site has turned into a forest!
Indeed it was! I had wanted to hang a banner advertising that the land is for sale and would need some support to hang it. As much as I had guessed it, the plants had become matured trees...
In one sense your land has been "developed"....by nature. :p
You are lucky you still have a dirt road to your land. LOL
Curiously, how did you buy the land? By just looking at the map?
Just to share my stupidity as well. Long ago, I bought a piece of land near a river.
And I viewed it from a hilltop..pointing it to the forest horizon. Well..I was interested to JV with a friend to have a fish framing.
Dirt cheap and grabbed with both hands. 2 years later, I went to the site, found out the river had cut across my land right in the middle. My land is in the middle of the river. Lost RM50k. Back then 20 years ago, that is a lot of money. :(
Lesson learnt. Never never buy something without going to the site. It is a must to visit.
You are right!
Luckily we pulled back on the construction, although the plans were ready then.
Luckily we pulled back on the construction, although the plans were ready then.
In my view, painting an overly rosy picture of Singapore does not help either.
http://sbr.com.sg/financial-service...ecs-struggle-make-ends-meet-each-month-report
Whether moving over to JB is the best solution or not is really for each person to work out or discover from himself. Sometimes the best solution may not be the preferred solution. One has to adapt and be willing to accept changes, which hopefully will work out for the better in the longer term. My father slogged as a cab driver too, so we were never rich, then and even now. If I am more rich, I would probably drive a car than a bike. But bike works best for me, for now at least. Each person just have to decide for himself what is best for him according to his own considered circumstances and conditions. Be open to explore options, even if those options do not look palatable at first, like moving to JB.
Ya, lucky to be still alive today in one whole piece, didn't lost an arm or leg, but just poorer and richer in experience, hahaha!
During that time, I had read in the newspapers about people being cheated of their money when they had paid lots of money to middleman for some freehold land, but never got to see the title deeds.
So I decided to buy LH land from JSEDB, thinking it was safer, it's government land, so won't get cheated.
So you know, when young, never think deep deep, thought of myself as very 'kiang' then, just armed with little info.
So that's how I fell into the pit!
During that time, I had read in the newspapers about people being cheated of their money when they had paid lots of money to middleman for some freehold land, but never got to see the title deeds.
So I decided to buy LH land from JSEDB, thinking it was safer, it's government land, so won't get cheated.
So you know, when young, never think deep deep, thought of myself as very 'kiang' then, just armed with little info.
So that's how I fell into the pit!
Pardon me for being curious, may I ask what was bad with respect to the piece of land you invested? Is the land still not offering any more values today then the price you paid for ?
Even in today's internet age where anyone can access to current news and latest info anytime, anywhere and your story is still repeated again and again.
People are still as "hiong" and plunge in without due consideration and people still kena burnt.
But instead of industrial buildings it's now condos in Iskandar.
So, blame what now?
The LH land was bought on 30+30yrs, it will get cheaper and cheaper as the lease runs down. Moreover, have to factor in the exchange rate loss, and also not forgetting the auditor and secretarial fees paid. In M'sia, need to register a sdn bhd company to buy land.
Going on weekends and actually living in Johor are very different things.
That is why in every economic cycle, there will be some millionaires who will disappear and some newly minted millionaires will rise!
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Indeed very different! I can surely vouch for that. ;p
Just visiting the site to take a layman look is not enough.
You need to engage a professional surveyor to confirm the actual boundaries to make sure it tallies with the title deed boundaries, especially if it is a large piece of land with uneven terrain.
I still remember back in 2013 when I was trying my luck with a couple of Singapore banks to obtain a loan for the JB house, thinking that maybe easier for Singaporeansnto obtain loan from SG banks. Found out that they need a guarantor, but no friend, not even rich one, or own blood brother was willing to be a guarantor. So thank God the banks in JB are less particular and I could obtain the bank loans.
If I may assume.
You did it on your own with your own 2 bare hands, so to speak.
No help financially nor otherwise from anyone, parents, siblings or friends and that what make you proud of your achievements.
And no one has the right to say you did right or wrong. You did it your way.
Actually you are quite right. One has to depend on yourself for sure. My own brother refused to be my guarantor for my first factory in Singapore when I was earning just 2k a month
I can understand the reluctance of being asked to be a guarantor as there are risks involved, unless of course one is a rich person. But even then...anyway my point was that what is impossible in SG can really be boleh in JB!
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