I Can't Accept Lor...

Every week there are new properties launch, especially this year. Ah Tom, Ah Dick and Ah Harry also rush to launch new project......

Lot of these new launching are selling at price that I never imagine before. I don't know why the developer set the price at this level and what made them so confident of their property, but this is the reality now:

- Mah Sing Icon City (Sg Way) 700sf++ SOVO selling for RM600k
- See Hoy Chan Seringin Residences (OUG) 1500sf++ condo selling at RM650k onwards
- Akisama 288 Residences (Kuchai Lama) 1400sf++ condo selling at RM600k
- Sunway Velocity V Residence (Jln Peel) 900sf++ condo selling at RM880k

Personally, I still cannot accept the fact I need to pay such price to buy such property at such location. But don't be surprise there are quite a number of people stand opposite me, and willing to pay such price buying such property at such location.

There are only two choices:

Choice 1: Accept the fact, this is the market price now and we are at era that RM 1 mil can only buy you a landed double storey. So better start stock up before the price go higher...

Choice 2: Keep saying the price is crazy, wait for the market to cool down and hope the price will reduce to the level you think acceptable then only shoot your bullet...

What say you?

How to Kick Them Out

Found an interesting article, you may need you sooner or later when you start the life as landlord :)

Tenants that rent your house do not pay the rental and refuse to move out from the property? Bought an auction property and found that someone occupy the property illegally ? All this kind of scenario are commonly happened in Malaysia.

In Malaysia, the legal way to evict the tenants or illegal occupiers from your house is to apply for an eviction court order, but it is time-consuming and costly to get an eviction court order. Hence, it is depend on the cost of your property and whether you think it is worth to do that or not.

1. First, DO NOT TERMINATE the water supply or electricity supply for that property. This is the most common method that people used to evict the tenant, but it is illegal in Malaysia.


2. Request your lawyer ( normally is your S&P lawyer or tenancy agreement lawyer ) to send an registered post to that property. The letter content should tell the tenant to move out from within one calender month. For examples, if the letter is going to post out on any days on April, you must give the tenant one calender month to move out which is 31th of May.

3. Get a copy for that letter from your lawyer and get the confirmation from lawyer whether the registered post are delivered successfully or return unclaim ( some tenants like to pretend nobody home ).

4. After one calender month, if you still find that the tenant still didn't move out from the property, then you can plan for a 'break in' activities

To minimize the cost and evict the tenant from your property, there is another informal way, which is still a legal way with less cost. The following is the guide to help you guys to evict the tenants or illegal occupiers out from your property and gain back your control. It is a legal way, with certain of risk but it is not as formal as applying court order.

The following is the preparation for the 'break in' activities.


1. Planned for a 'break in' date and before 'break in', go to make a police report on the nearby police station. Bring the lawyer letter that you sent to the tenant and the confirmation slip that can prove the tenant received the letter or not. If the letter returned unclaim, you can tell the police, you posted a notice to ask the tenant to evict, nobody claimed that letter. Hence, you assume there is no people staying there and you want to break in that house now. If the letter was delivered successfully, then when you make police report, informed the police that you expect the tenant should have moved out. Ask the police whether they can accompany you for the 'break in'. If cannot, get the telephone number for the police station that you made the report.

2. Get a locksmith with you and a independent witness. Independent witness mean someone that does not have close relationship with you. It cannot be relative or friend. If your property is a condominium or gated townhouse, you can request the staff in the maintenance office to accompany you for the 'break in'. They can be your independent witness.

3. Bring a good camera with you. When you enter the property, use the camera to take photo on every corner of that house. This is to prevent the tenant or the illegal occupier claimed or sued you that you took away his asset.

4. Bring a pad lock with you to lock the house after break in.

The following is the matter to take note during 'break in' activities.

1. Go to that property and try to knock the door. If the tenant open the door, then you request him/her to move out politely. Informed him that you had made an police report. If he refuse to move out, call the police. If no one open the door and you feel there is someone inside, then call the police and request them to come before you start to 'break in'. If you confirm no one is inside the house, you can start to break in.

2. After break in, take photo as much as you can. Try not to touch any thing in that house. Put a notice on the front of the property, which can be seen easily. Tell the tenant if he/she want to take back his/her asset in the house, please contact you within 1 or 2 weeks time. Besides, put a photocopy of your police report together with the notice too to indicate that you had made the police report.

3. Change the main door lock and lock it with your new pad lock.

4. After that wait for 1 or 2 weeks time, to see the tenant contacted you or not. If not, then dispose all the thing in that house and you can do anything whatever you want with that property.

The above guidelines is just act as a guide for you to evict your tenant or illegal occupier without court order. Different case might have to act differently. Hence, the best is to consult your lawyer. However, I had managed to gain back control on my property by using the steps above. If you want to follow the guide above, use it at your OWN RISK. Good luck to you.


http://www.start-investing.com/Malaysia-Investment/Property-Investment/How-to-evict-tenant-or-illegal-occupier-from-your-property-in-Malaysia.html

Robbery Video Clip

This lady damn brave, parang so long also dare to challenge and chase the thief.

How Do You Know Which Property Is Good To Buy ?

There is an article today in The Star about tips of buying property http://www.starproperty.my/PropertyScene/PropertyScene/12449/0/0

I have been asking this question myself when I start investing in property, who can advice me whether I a particular property is good buy or not? I am not good in negotiation, who can help to me to negotiate for better price?

In Malaysia, most of the people will ask their friends and family opinion for buying property. But are they asking the right person? Property investing is a "knowledge" by itself. Most of the people only have experience buying one or two properties in their life, these limited experience is equal to fresh graduate experience in working life.

How about Property Agent ? Yes, no doubt property agent is the real expert in this area. They buy and sell property everyday. However please do not forget property agent survive based on commission. Who pay them the commission then? The Seller. So how can you ensure the advice from the agent is not bias towards Seller?

With the advance in technology, people start turn to Internet for advice. They go to property forum, blog, newspaper and etc. Some post their questions there and hope some guru will guide them from there.


In nutshell, most of the people try to learn to be property investor themselves. They pay the price to learn the the property investment skill themselves. They buy, they sell, they may mistake, they learn, they profit and on going...

Why there isn't any property consultant in the market, that can advice you which property to buy, when to sell, how much to pay, which loan to take and etc. Why we need to waste the time and learn it, and worse we may make wrong decision during the learning?

http://wickinv.blogspot.com/2010/09/new-job-opportunity-professional.html

TO BE CONTINUE ...

China Property Market - How Does it Impact Us?

I met an old friend online recently, where he have moved from Malaysia to China since few years back. When he was in Malaysia, we used to talk a lot about property and share.

During our chat, he share his view with me about property at China, especially in Guang Zhou where he live. The property price at China have gone up like crazy in past few years, currently a condo at Guang Zhou city is selling at around 15,000 yuan psm (translated to about RM750 psf), to me sound ok .....with assumption KL is on par with Guang Zhou. But what is not so ok is most of the property there are left empty, not able to find tenant. Even those able to rent out, the rental return is not attractive. He

On side note, my friend also said that that most of the property in China is leasehold status with 60 years left. So for those so concern about leasehold status in Malaysia, you should not worry so much as Malaysia leasehold property usually come with 99 years tenure :)

The Chinese government have implemented few control to cool down the market, and it seem work. But what make us worry is how long can those owner hold their unit without able to rent it out? What will happen if there are many owners fall under this category, will it cause another round of property bubble?

There is a saying when US sneezes, Malaysia will catch the cold. With China emerging become as world economy now, if China sneezes, we might catch H1N1 !!

Jokes about Mukesh Ambani’s 27 Storey house

http://www.excite4.com/home/archives/1422

Mukesh Ambani (India richest man) in his 27 storeyed House, where himself, his wife and 3 kids living there, serve by 600 maids

Seaside and Hilltop Property

In Penang, a lot of properties is selling at premium price because for those who purchase the property will get to enjoy the ocean breezes everyday...

There are also people willing to pay "extra" to buy property that built on the top of the hill, as the air is fresher and they also able to enjoy magnificent city view from their house...

However, there is also possible risk buying properties nearby sea side and on top of hill . For example, when Tsunami hit Penang, people who live nearby seaside will be the first expose to the risk. Therefore sometimes people may think is good to live next to seaside once a while, during vacation, instead of live there daily.

Same for those live at hill side, when the landslide hit Bukit Antarabangsa, the condominium and bungalow value there drop to almost "zero". Recently there is also report that retaining wall at Bandar Puteri is falling, this cause great concern to those live there...

So sometimes, maybe, conservatively, probably, is safer to buy property at "flatten" land :)

Retaining wall collapses during landslip - StarProperty.my

Latin American Festival

Very Good Video Share in FB

Renting Office Business

Have a chat with a friends about renting office business. There are companies doing business by renting out office space to those company that wanted to have temporary office space. They will provide full office facilities like table and chair, partition, air-cond, internet connection, cleaning services, receptionist and etc. One of the example is Regus http://www.regus.com.my/

Currently they are charging a 200ft office space at around rm2-3k per month, while 500ft office space at around rm5-8k per mth, price vary based on the location.

I was thinking, since SOHO concept is start getting hot lately, why not those SOHO owner rent out their unit like Regus by providing this extra services, in which the rental return is quite lucrative???

Just some thought...

Pagoh to be Varsity City - StarProperty.my

Pagoh to be Varsity City - StarProperty.my

This announcement will help to "increase" the property price at Pagoh, same effect like how UTAR help to boost the economy for Kampar.

Outsourcing

Outsourcing is a hot concept in the corporate world. The main objective is to reduce the company expenditure by reducing the headcount & resources require to keep the business running. Instead of maintain yourself, you may outsource the business operation work to third party company that specialize in the area.

In past few years, I saw quite a number of property developers like to outsourcing the sales & marketing jobs to property agent, especially those small and medium size developers. For example:
1. Pacific Place @ Ara Damansara
2. Element @ Ampang
3. Empire Damansara
4. Empire City
5. Sentul Prime Mall
....

By outsourcing to property agents, the developer do no need to maintain pool of sales and marketing staff to sell their property. In fact, there is a believe that property agent is expert in this area, so it is best to let them handle the sales.

However there are few drawback of this outsourcing concept to the consumer like us, for example

1. I encountered few incidents whereby different agents saying different things about the property. This would happened especially there are few different agents engaged by the developers and information is not flow correctly in between.
2. Usually the developer will engage few property agents to market their products instead of single source. The developer will cut their cake into few pieces and distribute to those agents. Therefore sometimes you may here agent A telling you that's the last unit left for this project, but in fact it is just the last unit left for his/her pool, not the last unit left for the entire projects.
3. As there are third party involve, sometimes the information provided by property agents may not come from the developer, it may be added by the agents. For example, property agent usually will encourage you to place some booking fee to book the unit and claim it is easily refundable without any charges. But things may be different as most of the developers will charge certain admins fees for any purchase cancellation.

Therefore, you may need to take extra precautions when you are dealing with property launch that mainly run by property agents.

Best Job in the Market

Today I am flipping through a China Press newspaper, reading the Klang Valley edition. I am so shock to see there are so many advertisement about new property launch. I think at least 10 advertisement about new launch.

Do you know when stock market is bullish, when earn the most money? The stock brokers, because they earning is based on commission, the more transaction they handle, the more money they earn.

So since property market is so hot now, you may already know what is the best job in Malaysia.....

By the way, the property agent that help me sell my house is a an engineer which she have worked for at least 10 years, whereby the company is famous for paying at least 6 months bonus every year. But she decided quit her job and become property agent last year (good choice :). She share that she can easily sell RM2 millions property per month in current market......Can't imagine how much she earn now every month....

Our Professional

I wanted to talk about what I experienced in past few days here, is about DOCTOR

My son is not feeling well last few days, I brought him to Pantai Bangsar Hospital, seeing Dr A.

Dr A gave my son medicine X & medicine Y.

The next day, my son still not recover, again I brought my son to same hospital, but seeing Dr B this time as Dr A is not on duty that day. "Surprise" come now.

Dr B: I don't recommend to take medicine X & Y, as it is not suitable for baby.

What The Fxxx !!!

Wick: Are you telling me Dr A gave my son wrong medicine?
Dr B: I can't comment as I only see your son today, but usually I don't recommend any baby < 2 years old to take any medicine. (pause as me and my wife was puzzle by what he said.....)

Dr B: So ok? You ok?

Wick: Of course NOT OK. Two different doctor from same hospital telling different story for same medicine, how can I ok? 

I immediately request to change my doctor and ask for more experience doctor to see us, as I was still puzzled by so called professional told me. After 5 minutes, Dr C come.
 
Dr C: Ooo...actually for medicine X you still can take it now, but it is not really require as your baby condition is better. While for medicine Y, you also can take, but maybe you should reduce the intake from 2.5ml to 1.5ml.
 
What The Fxxx !!! Another different recommendation..


Dr C: So what do you think? you think reduce the intake is ok?  
Wick: What do you think I think? How the hell I know? You are doctor not me, don't ask what I think !

My instinct told me I came to wrong hospital, wasting my time and it does not help at all, in summary, good job Mr and Mrs Professional !

Now I am really curious, what is written in those medical books actually? Are all medical books have few variants that's why it produce different doctor that have different opinion on same medicine ???

Ouch !!! So Hot @@!!!

I collected my key from tenant for my Changkat View condo last Thursday, as the tenancy ended. Then pass the key to agent for sale.

You know what, within 1 week, my unit is SOLD ! And SOLD with good price !!

The market is too hot, too hot now. If you have purchased any property few years ago, you may consider to sell now, and you may be surprise how much people willing to pay for that !

Question: Will You Buy This Property?

Just curious, will any of you buy this property that built between low cost flat, assume the selling price is RM300psf at Klang Valley ?

What Happened To The People?

Nowadays everyone is asking, what happened to the property, the price gone up like crazy !!! ???

Actually, I would say what happened to the people actually instead of the property price? Everyone just buy anywhere and everyone......

In stock market, there is a saying that when everyone is talking about stock, it is about time to sell it. Does it apply to property market then?

A colleague of mine who is just graduated for 2 years told me last week she would like to invest in a property. I asked her is she looking for rental income or capital appreciation, she replied: "I dunno". Then I asked her why rush to buy then, she said that "I don't want to miss the chance mar, later 'cao poh' ler".

Another colleague of mine who is type of "conservative" people, whom strictly follow rules and steps at his work. Usually this type of people are those who do not speculate. But, he also start talking about property investment nowadays, and he is looking to buy another house to rent out and earn extra income.

What will happen if this kind of trend continue? Would there me more properties to let than more people who rent the house ? You think yourself lar.

How Much Does This View Worth?

How much does this view worth? Or put in another question, how much would you pay "extra" to get a property with this view?

Some people will pay RM100k for this, some RM200k, for exactly same property but with better view like above. How about you?

http://wickinv.blogspot.com/2010/07/external-factor-view-update-1.html

http://wickinv.blogspot.com/2010/06/external-factor-view.html

The World Have Change !

Just back from supper with some generation Y friends, I notice nowaday the way people think and work have been change, compare with my generation.

Older Generation people believe in loyalty, they usually work for one or two company in their entire life.

Generation X people advance a bit, they like job hopping, whoever offer better pay, there they will hop to. Some will do extra part time in MLM, like selling Insurance, Amway, Elken and etc.

While Generation Y people are more advance, they will always look for setting up small business (like Groupon, Groupmore), restaurant, franchise (like Subway, ), Feelance Job (Programmer, Graphic Designer, Editor), Develop Games/Application then sell at Apple AppStore and etc. Working, is just a transition to them before they realize their dream.

Wondering how does Generation Z thinking and way of working like...?

Holding Power

Holding Power, is something you need before you venture into Commercial Property. This is the conclusion of my discussion with friends today. Why So?

Mainly because it would take some times (1 year, 2 years and maybe more) for a Commercial Property to become "WONG". Look at Kota Damansara 3-4 years ago, Bandar Puteri 5-6 years ago, Bandar Puchong Jaya 10 years ago. During that time, most of the shop there are either For Sales or To Let.

Imagine the monthly bank installment is RM10k, and if you not able to find tenant after handover, you will need to pay RM10k installment every month from your own pocket for 1 or 2 years; also means you need to spare around RM250k to throw into sea.

However, if you able to hold and go through this "transition period", your property may able to double from RM1.5mil to RM3mil. So throwing RM250k into sea may fish back RM1.5mil big shark within 3 years. Not bad actually.... but this assumption not apply to all location lar, like Ara Damansara after 5 years already still dead.

Let's do a case study for 10 Boulevard at Kayu Ara, completed end 2009, and until now still many units put on sales/rent after 1 year plus. How long do you think this property need to become "WONG" ? And how much will this property price go up to after it become "WONG"?

http://www.newlake.com.my/boulevard10Project-development.html