Puteri Harbour Community

[flyer380]

Singapore's billionaire Peter Lim partnered with Johor Royal to build RM1.2billion race course in iskandar near leisure farm. Iskandar is really attracted lots of billionaire in Singapore.

MMMmmm... its actually RM3 Billion similar to the Sepang One leh .....(SGD $ 1.2 billion) And this time is backed up by Khazanah the Parent of UEM Group and Sunrise, Making this more possible than that other Zone A project ...Zone A will still loose out to Zone B cause ONLY in ZONE B u Can use your CPF at the new Hospital once done up ! And ONLY in ZONE B Temasek has land so SG goverment and MY goverment is backing ZONE B together only...So Malaysians and Singaporeans, this is a huge huge "clue" liow where u should be buying and where u should not be buying ...still dont get it then cannot help u liow...

Oh Ya also ONLY in ZONE B (a section of it) GOT tax ZERO TAX, 100% flexible corp ownership, and many many other incentive not found ANYWHERE in in MALAYSIA... So another clue why ZONE B is a must buy ? Anyone can share too why zone B good ah ? I can't remember all leh..

 

[Funniman]

But Australian propert has certain restriction when you sell.

I think there are plenty of Melbourne apartments for good rentals too, but the target is mostly students, so yield may not be too good.
Actually it is tru. When you invest into overseas market, it is so much hassle. Agents couldn't care less about quality of tenants. By the time the tenancy is up, you got to do the place again. Can you imagine if it is in UK or in Australia?

 

[DCputeri]

Heard foreigners who bought Australian properties must sell to Australian only. Capital gain tax?

I think there are plenty of Melbourne apartments for good rentals too, but the target is mostly students, so yield may not be too good.
Actually it is tru. When you invest into overseas market, it is so much hassle. Agents couldn't care less about quality of tenants. By the time the tenancy is up, you got to do the place again. Can you imagine if it is in UK or in Australia?

 

[Funniman]

I tot that was the Autocity which was announced by UEMland? Zone B is totally new and all the infrastructure is there in place, neatly laid out. Townplannign is easy. Zone A is old town. Not easy to change road systems. You will have plenty of problems in trying to acquire lands for public transport, the drainage will take years before it is effective as sewerage has to be tackled from the source and along the routes. Can you imagine re-laying the drainage pipes? Then the flow of the seawater at the river mouth is too slow.

MMMmmm... its actually RM3 Billion similar to the Sepang One leh .....(SGD $ 1.2 billion) And this time is backed up by Khazanah the Parent of UEM Group and Sunrise, Making this more possible than that other Zone A project ...Zone A will still loose out to Zone B cause ONLY in ZONE B u Can use your CPF at the new Hospital once done up ! And ONLY in ZONE B Temasek has land so SG goverment and MY goverment is backing ZONE B together only...So Malaysians and Singaporeans, this is a huge huge "clue" liow where u should be buying and where u should not be buying ...still dont get it then cannot help u liow...

Oh Ya also ONLY in ZONE B (a section of it) GOT tax ZERO TAX, 100% flexible corp ownership, and many many other incentive not found ANYWHERE in in MALAYSIA... So another clue why ZONE B is a must buy ? Anyone can share too why zone B good ah ? I can't remember all leh..

 

[Funniman]

Heard foreigners who bought Australian properties must sell to Australian only. Capital gain tax?

People buy Australian properties mostly for migration / PR and accommodation for their children studying in Ozland. Very seldom for rental investments.
Not sure of gains tax but they do have strict taxation laws.

 

[Funniman]

But must be cheap la...below RM600 psf

I sold off everything I had in KL and Penang, cause despite having agents and even offering relatives up to 20%
of rental value monthly just to collect the rent is a huge problem, also tenants are constantly moving, late payment,
and lots of maintenance issues you have to personally handle cause the KL / Penang agents, even relatives too busy
to help you. Even if rent our to corporations also same problems arose, so better u get at ZONE B, Iskandar Malaysia,
is best nearby if anything even for invesment u can do it via a day trip, dont forget we here in Singapore each person
already doing 2 persons workload where got time to handle far far away properties ? For "remote control investment"
forget Malaysia, go to New Zealand, Australia is best, so far I dont have any problems at all as my agent handles everything
down to the replacement of a broken cup, chair etc ! Well just my own experience with KL, Penang, Nz, Aus Property "investment".

Iskandar Malaysia Nusajaya Is best.. "Zone B" ! Where else got "whole world in one city " Legoland, Harbour, Hello Kitty, 8 Universities - MDIS,RAS,NMIT,UR,etc etc, Hospital we can use our CPF, Race track, Pinewood TV etc etc...Giant Tesco Aeon Mall Of Medini -
No need waste time look anywhere else liow !

Care to share your nightmares of renting out KL Penang Properties too... Pls do we all want to know ....

 

[east539]

Heard no increase in $$ for Teega. Cheers!

really?? that is great news!

 

[Investor]

Good lessons and sharing on making shrewd investments and managing the risks in property investment when read together with the insights from Investor.

Haha Kopikong99, I just enjoy sharing my 1 cent worth of thoughts, nothing more than that. I'm not trying to encourage investing as the entry price now is not the same as my entry price in 2010. I'm also not in the business of properties, FengShui nor anything related. Basically, I just like to do 'kopitiam talk' and share a bit of my thoughts once in a while and enjoy the anticipation of replies from forumers

 

[h530251]

Thats how interest rates are quoted in financial markets and by central banks.
100 basis points = 1%
Eg The BNM has decided to increase the interest rate by 50 basis points ie increase by 0.5%

Oh I see.. now I know what is basis points. Thanks for the explanation.

 

[Funniman]

Hmmm..rental problems. Yes I do have some. A company rented one of my factory for some 10 years and then the partners broke up. Someone though someone else is paying the rent, so it was unpaid for few months. Then I got rid of them but then found out they have unpaid electricity bills amounting to $4k. The whole place was a complete mess and rubbish dump when I took back the unit. It cost me 50k to do the place up before I find another tenant.

Then i got another one. This fellow rented my house for many many years. I decided to increase the rental by a mere $50 and that tenant told me stories he is old and cannot afford...and in the end, the rental remained unchanged after 12 years!! Sometimes just give and take....afterall he pays on time and old tenant.
Also there are other cases that tenant put in so much of leftovers in the kitchen sink that I have to fix new underground drainage pipes...I actually asked myself is it worth all the trouble....and that house remained tenanted.

These days I just tell any tenants if their place got problems, just get a contractor to fix it and deduct from the rentals...very stress on these issues

Last but not least, I got tenants who just say they don't have money...after a few times, I felt embarrassed to collect rent rather than the tenant who felt bad they cannot pay...sigh....

So being a landlord is no fun...

I sold off everything I had in KL and Penang, cause despite having agents and even offering relatives up to 20%
of rental value monthly just to collect the rent is a huge problem, also tenants are constantly moving, late payment,
and lots of maintenance issues you have to personally handle cause the KL / Penang agents, even relatives too busy
to help you. Even if rent our to corporations also same problems arose, so better u get at ZONE B, Iskandar Malaysia,
is best nearby if anything even for invesment u can do it via a day trip, dont forget we here in Singapore each person
already doing 2 persons workload where got time to handle far far away properties ? For "remote control investment"
forget Malaysia, go to New Zealand, Australia is best, so far I dont have any problems at all as my agent handles everything
down to the replacement of a broken cup, chair etc ! Well just my own experience with KL, Penang, Nz, Aus Property "investment".

Iskandar Malaysia Nusajaya Is best.. "Zone B" ! Where else got "whole world in one city " Legoland, Harbour, Hello Kitty, 8 Universities - MDIS,RAS,NMIT,UR,etc etc, Hospital we can use our CPF, Race track, Pinewood TV etc etc...Giant Tesco Aeon Mall Of Medini -
No need waste time look anywhere else liow !

Care to share your nightmares of renting out KL Penang Properties too... Pls do we all want to know ....

 

[DCputeri]

Landlord in Singapore is much better.

Hmmm..rental problems. Yes I do have some. A company rented one of my factory for some 10 years and then the partners broke up. Someone though someone else is paying the rent, so it was unpaid for few months. Then I got rid of them but then found out they have unpaid electricity bills amounting to $4k. The whole place was a complete mess and rubbish dump when I took back the unit. It cost me 50k to do the place up before I find another tenant.

Then i got another one. This fellow rented my house for many many years. I decided to increase the rental by a mere $50 and that tenant told me stories he is old and cannot afford...and in the end, the rental remained unchanged after 12 years!! Sometimes just give and take....afterall he pays on time and old tenant.
Also there are other cases that tenant put in so much of leftovers in the kitchen sink that I have to fix new underground drainage pipes...I actually asked myself is it worth all the trouble....and that house remained tenanted.

These days I just tell any tenants if their place got problems, just get a contractor to fix it and deduct from the rentals...very stress on these issues

Last but not least, I got tenants who just say they don't have money...after a few times, I felt embarrassed to collect rent rather than the tenant who felt bad they cannot pay...sigh....

So being a landlord is no fun...

 

[Funniman]

I know I know . I just could not afford properties in Spore...so have to make do in KL.:(

Landlord in Singapore is much better.

 

[Philip]

Also check on the 12% rebate given for purchase of encorp puteri harbour. How does it work if I have a 90% loan? Can't be I have a neg 2% payment right ?

 

[Philip]

Anyone has insights with loan taking in Malaysia ? Can a 3600 sin dollars pay slip take a 900k rm loan ?

 

[flyer380]

I know I know . I just could not afford properties in Spore...so have to make do in KL.:(

So sad to hear rental problems.

Thats why important to buy where u can everyday go (or at least within the 30mins to max 55mins drive raduis) and be able to "watch out like a eagle" over your property in Malaysia.

Another real life story on renter problem in malaysia :-

I had one tenant for my KL property, via a KL agent (I was then based in Singapore) she was from east malaysia and was a in some executive, so I thought it be ok, but later she, keep giving excuses, sick, medical bill, mother sick, husband loss job etc etc, then i kept giving discount even up to 30% of the rent, and still they left with 4 months rent due, the whole apartment was flooded with rubbish till u can't walk.

I had to take 3 days leave together with 3 other family members, drove down for 4 hours trip (SG-KL) then we had to clear everything ..OMG ..You wont believe it if i told u the details.. everything was damaged, the Kitchen doors were all torn out, sinks were sagging (were they sitting on the sink or what?), all Tv were damaged, etc etc..all these despite my kl agent, my neighbors and me being so nice to them.

Anyway long story short... I did an express renovation paid RM40k for it and was done in about 2 weeks.. At the end of that 2nd week some other tenant staying there passed by my unit while i so happen to be there while the renovation was at final stages.

They asked me if i renting out ...(ooohhh here we go again, no thanks unless I stay KL la) so, told them I am selling, and the rest is history ...they bought it and that was one burden less... So don't think you a nice landlord and everything be okie...it make no difference...

Now of these days I install CCTV in all my rented properties (In Iskandar) and all must be 30 - 55 mins drive radius from where I am.

I collect min 3 months deposit PLUS 1 Advance rental PLUS you must have I screen thru their profile by calling their HR to verify their work history PLUS compulsory cleaner to go clean every week and I do spot check every month same time as the air condition servicing.

You really dont have a choice cause the "Renter Market in Malaysia" a whole different wild beast that will eat u alive ... No amount of phone calls, sms reminders, letters, lawyer letter gonna help you (not like in sg really works) as the law here in SG is en forcible.

In Malaysia, jungle rules, so, 3 months is a must plus 1 advance. Net line is needed so u can install the CCTV in the main hall, and incoming tel line is needed in the main hall plus u really to go down to lock up the unit if need be. Also get really for many many pity stories, just listen and u go to be firm and say ok but still rent is payble, and never offer discounts and it get worst if u do that. So for me every time pity story comes i listen but after that i will still charge interest of Rm50 perday for any late payments. So far touch wood it works !

In NZ, so far touch wood no such problems yet face by me... maybe culture different ?

 

[Funniman]

Anyone has insights with loan taking in Malaysia ? Can a 3600 sin dollars pay slip take a 900k rm loan ?

A very simple calculation is the maximum installment you can afford is 30% of your salary. This after all your other commitments had been deducted first
Repayments for a 900k loan would be about rm5000 per month based on a 15 year loan.

Go to the bank and they would give you better advice, other factors come into play such as bank interests, your age, how many loans you already have, etc.
By the way, I think the panel banks for Encorp are: Maybank, Hong Leong, UOB, MBSB,OCBC and Public Bank.

Good luck.

 

[Dfiris]

u are right, think its the culture. If they are not even scares of authorities amd do not pay tax and summons, you can roughly guess their attitude towards rental.

So far all my units in KL like Marc and Lot 163 are leased and managed by Ascott and Fraser Hospitality (both Singaporean companies), save me the trouble, they will deposit the rental for me quarterly or monthly in advance.

Only exception is ONE KL, which I bought as second home, if someone who is willing to pay the price in advance for 3-6 months rental, I will be more than happy to let also. But I definitely include cleaning into the package (3 times a week). Cos short rental they have less time to "personalise" the place to their liking.

So sad to hear rental problems.

Thats why important to buy where u can everyday go (or at least within the 30mins to max 55mins drive raduis) and be able to "watch out like a eagle" over your property in Malaysia.

Another real life story on renter problem in malaysia :-

I had one tenant for my KL property, via a KL agent (I was then based in Singapore) she was from east malaysia and was a in some executive, so I thought it be ok, but later she, keep giving excuses, sick, medical bill, mother sick, husband loss job etc etc, then i kept giving discount even up to 30% of the rent, and still they left with 4 months rent due, the whole apartment was flooded with rubbish till u can't walk.

I had to take 3 days leave together with 3 other family members, drove down for 4 hours trip (SG-KL) then we had to clear everything ..OMG ..You wont believe it if i told u the details.. everything was damaged, the Kitchen doors were all torn out, sinks were sagging (were they sitting on the sink or what?), all Tv were damaged, etc etc..all these despite my kl agent, my neighbors and me being so nice to them.

Anyway long story short... I did an express renovation paid RM40k for it and was done in about 2 weeks.. At the end of that 2nd week some other tenant staying there passed by my unit while i so happen to be there while the renovation was at final stages.

They asked me if i renting out ...(ooohhh here we go again, no thanks unless I stay KL la) so, told them I am selling, and the rest is history ...they bought it and that was one burden less... So don't think you a nice landlord and everything be okie...it make no difference...

Now of these days I install CCTV in all my rented properties (In Iskandar) and all must be 30 - 55 mins drive radius from where I am.

I collect min 3 months deposit PLUS 1 Advance rental PLUS you must have I screen thru their profile by calling their HR to verify their work history PLUS compulsory cleaner to go clean every week and I do spot check every month same time as the air condition servicing.

You really dont have a choice cause the "Renter Market in Malaysia" a whole different wild beast that will eat u alive ... No amount of phone calls, sms reminders, letters, lawyer letter gonna help you (not like in sg really works) as the law here in SG is en forcible.

In Malaysia, jungle rules, so, 3 months is a must plus 1 advance. Net line is needed so u can install the CCTV in the main hall, and incoming tel line is needed in the main hall plus u really to go down to lock up the unit if need be. Also get really for many many pity stories, just listen and u go to be firm and say ok but still rent is payble, and never offer discounts and it get worst if u do that. So for me every time pity story comes i listen but after that i will still charge interest of Rm50 perday for any late payments. So far touch wood it works !

In NZ, so far touch wood no such problems yet face by me... maybe culture different ?

 

[DCputeri]

What is the usual penalty (%) for early capital repayment?

A very simple calculation is the maximum installment you can afford is 30% of your salary. This after all your other commitments had been deducted first
Repayments for a 900k loan would be about rm5000 per month based on a 15 year loan.

Go to the bank and they would give you better advice, other factors come into play such as bank interests, your age, how many loans you already have, etc.
By the way, I think the panel banks for Encorp are: Maybank, Hong Leong, UOB, MBSB,OCBC and Public Bank.

Good luck.

 

[Dfiris]

And another thing that I realise about rental over the years... just my own experience n tots

When I am heavily leveraged in the initial years, I tend to give in more to tenants cos at their mercy, very dependent on their rental to pay for my own instalments. So when lease renewal is due, I also fear that they will not renew if I raised the rental too much and fear that I cannot withstand any vacancy loss or agent commission for finding new rental.

Psychological thingy.... when I am less geared and not so dependent on their rental, I realise my voice become louder. And letting agents represent you is a good thing too. Find a good agent that represent you and avoid contact with the tenant. They can't size u up that way. Sometimes, its worthwhile paying that extra fee for the agent to work wholeheartedly for you and take care of the property. And when it comes to increasing rental or lease renewal, it would be easier. Cos the tenant know the agent would be happier to change tenant cos he earn more commisssion.

Jus my own tots..

 

[Dfiris]

So right now my leverage is more concentrated on properties that come with lease management & partnership with operators like Ascott n Frasers that are reputable and genuine, whereby rack rates are constantly growing at 5% per annum and occupancy of 80% and above. Dun buy into those that come with GRR for just 2 years. You need to identify the real genuine ones and establish a long term partnership for your cashflows. Once you have a base, you can focus the icing on the potential cap gain property units.

the rest of the properties that dun have such arrangements, I will be less or zero gearing so that I can be abit more adventurous on them