Lowyat.NET: Latest topics by Phoeni_142

The Beautiful world of USJ and Putra Heights?

Phoeni_142 — Thu, 29 Jan 2009 20:51:26 +0800

Dear esteemed LYnians.

Spent one afternoon with my lovely wife touring the whole of USJ and Putra Heights to "check out the scene" for any potential investment opportunties.

Some observations:

1. USJ is HUGE. USJ 1 to 27 - wow....it can fit Six whole Bandar Utama's inside! Forgive my ignorance, first time I toured the whole place so thoroughly. Possible to get some 22 x 75 units at less than 300K still.

2. USJ is home to approx 340,000 souls. It is stable, with a fairly robust commercial district. However, it is an old neighbourhood, and has a bad perception of traffic jams and congestion.

3. Putra Heights is quite well done!. It's at the far end of USJ - reminds me a lot of Ara Damansara. However, I do have some concerns with rgds to it's accessibility. If I'm not wrong, the 24 x 75 units are retailing at approx 460K.

Let's discuss:

1. What do u guys think about USJ in terms of investment potential? Does it hold any merit as a landed property? Only saw the landed prop's there.....but feel free to share any success stories for condo's too.

2. Anybody stay or know anyone staying in USJ? Any insights to share?

3. Lastly, Putra Heights okay ah? Considering it's still a fairly new development.

Cheers

The Art of the Deal

Phoeni_142 — Fri, 09 Jan 2009 21:17:30 +0800

Dear all,

I'd like to hear from you all on the following issues below (highlighted in red): (Nothing to do with Trump, just borrowed it as a subject title)

Forgive me if I'm wrong - but too often is time spent on the micro aspects of property investment, such as - this area good ah? Mgmt ok boh? Tenant demand there? Amenities good? Any public transport? What yield ah?

Whilst all those questions above are important in selecting our target areas - many of us forget about the psychology of property investing.....If we find our dream location - what makes us so sure we'll get it at the price we want? How sure are we that we'll get it on our terms? Let's discuss the following:-

1. How do we find bargains. (at least 20% below market value)

2. How do we close the deal at the price we want.

For me, buying with instant equity is extremely important. In other words, I do not count on future appreciation. To me, appreciation is an ancillary benefit of ownership. e.g. if property value is worth 200K today, I'll have to get it at 160K.

I'll go first. Most of the stuff I know i get through books or through old wise men.....so forgive me if it sounds to primitive to you all.

1. To find bargains - I network extensively with lawyers and bankers.....They tend to know more motivated sellers. I just let them know my intention and that I’m an investor. Sometimes, they do recommend me a case or two.

2. When I make offers to sellers that are not too motivated, I’d print out my own offer letter directly to the vendor with my terms and offer price on it. I’d then staple a cheque of 3% (earnest deposit) in the same letter as well. This method has been quite effective for me.

30% of the time – sellers will accept my price on the spot. You’d be surprised at the immense psychological advantage the sight of money brings. The other 70% of the sellers would not accept my initial offer – but they’d see my sincerity and would mostly deal exclusively with me thereafter. This also allows them to be “friendlier” with me and tends to make them more flexible in their pricing.

Above just my own personal style. Don't be too harsh.

Now, let’s hear from all the experienced property investors here pls. I'm also curious to learn.

Recommendation for Tradesman / General Contractor

Phoeni_142 — Tue, 30 Dec 2008 11:30:20 +0800

Dear all,

The regular contractor which I have been using for years to do light contracting work for my properties has recently "retired".

As you all are aware, reliable and sincere contractors / tradesmen are hard to come by nowadays.

Let me be very clear. The job scope of this light contractor would be as follows:

1. Painting.
2. Installation of Electrical Equipment (Air Cond, Heater, Fans).
3. Light wiring work (e.g. for switches)
4. Installation of Curtain railings

No heavy structural renovation work is required. For example, there's no need for this person to do tiling, destroy or knock down walls, or even to do any plaster ceiling. No fancy stuff like 3 phase wiring.

In other words, just a general tradesman to get the place in working order. The few properties I have are in the PJ Area.

Any recommendations (Name and Contact number) would be most appreciated.

Thanks very much.

Faber Condo's @ Taman Desa

Phoeni_142 — Tue, 23 Dec 2008 11:18:35 +0800

Dear all,

I'm new to this forum, and I'd like to seek your advise. I've been spending a lot of time in the Faber Ria & Faber Heights apartments @ Taman Desa.

I know it's very old - but what are your views with regards to its investment potential? Please advise....

thanks.