Lowyat.NET: Latest topics by MaxKHOO

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MaxKHOO — Fri, 02 Oct 2015 14:31:48 +0800

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[WTS] High ROI

MaxKHOO — Thu, 03 Sep 2015 20:51:22 +0800

Hi investors, if you are keen to invest in commercial properties, why not have a look at this. This is an office lot located in a matured, hot spot area of Petaling Jaya, walking distance to LRT station. The tenant is a very well established international company listed in Tokyo Stock Exchange. Malaysia is one of their sales office and they have more than 16,000 employees worldwide. The company has a manufacturing plant in Sarawak with more than 3600 employees.

The tenant has been stationed in this office for 12 years and has just renewed their tenancy agreement this year.

Investing in secondary (sub-sale) property is certainly lower risk than primary property because you can touch, feel and see exactly what you’re getting into. It is right there for you to view, not just the property but the area, the infrastructure, the neighbours, the amenities. You do not have to wait for 3 - 4 years to receive your rental income as in the case of primary property. Your immediate rental income increases your eligibility to increase your bank borrowing, thus providing you the opportunity to invest further in other properties. That's how why some people can keep borrowing from banks.

The owner is asking for RM1.0 million for this property. ROI is 6.5% net i.e after deducting monthly maintenance fee and yearly assessment fee. Do not miss this opportunity as any ROI of above 5% is indeed very hard to come by nowadays.

Do pm me if you would like to know more about this property. Pls do so asap before it is being taken up!

30% Rebate on Lease Extension

MaxKHOO — Mon, 31 Aug 2015 14:56:28 +0800

Hi, based on research on articles two years ago, Selangor government provided two options on the renewal of leasehold property:

1) Option no.1

To pay a RM1,000 for the extension of lease. If owner subsequently sells the property on the open market, he/she will have to pay the the full rate of premium. Owner would not be able to receive the 30% rebate under Option 2 anymore should he or she later decide to sell the property on the open market,

2) Option no.2

To pay the full rate of premium for the lease extension. It was mentioned that the Selangor State Government was giving 30% rebate on the rate of premium under this option.

My question here is: Is the Selangor government currently still giving the 30% rebate under Option no. 2? Is there an expiry date on the 30% rebate offer?

Would appreciate feedback from anyone who knows the answer. Thank you.

Vila Elemen - Shah Alam Sek 13

MaxKHOO — Sun, 23 Aug 2015 02:43:27 +0800

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A luxurious living within a beautiful golf course.

Vila Elemen promises a peaceful, refreshing and relaxing lifestyle. A place that gives you the feel of a vacation home with lovely views of well-manicured greens and fairways as the perfect backdrop of your brand new home.

Just a short walk and you get to enjoy the exclusive lifestyle at Kelab Golf Sultan Salahuddin Abdul Aziz Shah.

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MaxKHOO — Sun, 23 Aug 2015 02:41:59 +0800

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Value Buy Bungalow Land at Section 17 PJ

MaxKHOO — Tue, 18 Aug 2015 06:50:02 +0800

Hi folks, i hv a piece of vacant bungalow land at Section 17 PJ that is abt 30% below market value for sale. The land area is 9050 sf and owner is asking RM1.7 million. It is surrounded by semi-d houses.

Very good location. Pls pm me if u are keen before it is taken up.

Tropika Paradise USJ 17

MaxKHOO — Mon, 13 Apr 2015 20:34:59 +0800

Tropika Paradise was built by Sime UEP in 2001. The condo is made up of low and high rise blocks. Block A which has three lifts to service the units, is 12-storey high. Block B and C are walk up units, 4 storeys high.

Would really appreciate if anyone who has experience living in that condo or has visited the condo before to provide feedback on the condition of the condo. Is it maintained well and is it generally owner occupied or tenanted? What are the pros and cons of living in that condo?

Thank u in advance for your sharing.

Commitment Fee - MBB Maxihome Flexi Loan

MaxKHOO — Fri, 30 May 2014 08:32:13 +0800

Hi, I received Maybank Offer Letter for Maxihome full flexi loan. The offer letter states that I hv to open an account called PM1 which is actually an Overdraft account. The Overdraft facility amt is the loan facility amt. This OD facility amt will be reduced monthly by a fixed amt which is calculated at Total Loan Amt divided by the total number of mths of repayment.

The interest portion will be charged at end of mth when the system calculates the OD amt u have utilised. In other words, if u pump in some cash into the OD account so as to reduce your interest charge as this is full flexi loan, the system will consider that amt u pump in as Unutilsed OD and charge you interest on the Utilised portion.

However, there is a clause in their General Term & Condition that Unutilsed OD will be charged a Commitment Fee of 1% per annum.

Can anyone confirm whether is this how MBB Maxihome loan works. I seek clarification from their loan officer but she said no commitment fee. Unfortunately their agreement says otherwise.

Interest Deduction from Rental Income

MaxKHOO — Wed, 16 Apr 2014 08:32:25 +0800

Hi Sifus, would appreciate your clarification if u are familiar with the following:

The property is under three owners which we call A, B and C. Bank loan and tenancy agreement under A and B.
In declaring the rental income for tax purpose, which should be the correct approach:

1) total bank interest deduct from the total rental income and then divide by three to get the net rental income for each owner?

2) total rental income divide by 3 first. Then the bank interest divide by 2. From there, A & B deduct the half share of interest from the one third share of their rental income.

3) bank interest divide by 3. Owner A & B is allowed to deduct one third of the interest from their one third share of rental income.

Would greatly appreciate feedback from anyone who is familiar with this. Thank u.

Bank Loan for Residential with Commercial Titl

MaxKHOO — Mon, 09 Dec 2013 22:28:38 +0800

Hi Sifus

Would appreciate if anyone could advise whether bank will provide maximum loan tenure of 35 years for residential property with commercial title. Also will the bank provide the same attractive interest rate as those property with residential title?

Thank you so much.

Budget 2014 and it's impact on property market

MaxKHOO — Fri, 25 Oct 2013 16:36:44 +0800

Budget 2014 is being announced now. Pls share yr views here on the impact of the budget on the property market.

Banks removing Full Flexi Loan

MaxKHOO — Fri, 18 Oct 2013 18:45:03 +0800

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Banks removing Full Flexi Loan

MaxKHOO — Fri, 18 Oct 2013 18:40:56 +0800

Submitted my loan application to Pbb recently. The loan officer told me today that they I can't hv flexi loan coz they recently suspended the product. However semi flexi still available. She also mentioned that some banks hv suspended and others also will follow.

Anyone hear of this from other banks?

Trf from bumi lot fails, who absorbs agt fee?

MaxKHOO — Fri, 18 Oct 2013 01:03:14 +0800

Hi, hope to get feedback from those who buy bumi lot properties. Vendor or purchaser absorb the agent's commission if after signing S&P, the transfer name fails even after appeal?

Can we put a clause in booking form, that agent must refund in full the commission if transfer name fails? Usually agent gets the commission once S&P is signed and thereafter, no refund even when S&P is aborted.

Buy Non Bumi property from Malay Owner

MaxKHOO — Mon, 14 Oct 2013 15:56:18 +0800

Hi, would really appreciate it if anyone can share their experience in buying a non-bumi property from Malay owner?

This is a leasehold property in Selangor. Current owner, a Malay bought the property from a non-bumi.

Will there be any problem in transferring the property to non bumi now? I did a research on this but some say can and some say will have problem.

Kindly share before I commit the purchase.

Thank u so much in advance for yr info.

Surian Condo or Casa Indah is better?

MaxKHOO — Fri, 04 Oct 2013 00:35:04 +0800

Hi, I am looking at both Surian Condo at Mutiara Damansara and Casa Indah at Kota Damansara. Plan to rent out for the first few years before moving in. Can anyone help to enlighten which one is easier to rent out and which one is better for own stay?

Thank you.

High Valuation Price of Property by Govt

MaxKHOO — Wed, 03 Jul 2013 21:33:05 +0800

I hv recently bought a commercial property at abt RM800K. But the govt valued the property at RM1.3 mil. Because of this, I hv to pay extra stamp duty of RM15K. I hv checked the market price of properties there from the agent who sold me the property and the valuer who valued my property for bank loan purpose. They both agreed the price of RM1.3 mil is definitely too high. There is one unit of property in the same row as mine is asking RM900K and this unit has been in market for sale more than one year and still not sold.

Anyone knows whether we can appeal with govt for lower valuation price? If so, how do I go abt it?

Damansara Villa, Damansara Heights

MaxKHOO — Mon, 18 Apr 2011 22:18:29 +0800

Hi Sifus,

Am looking at this Damansara Villa condo that is 13 years old which is priced lower than the rest of the condos at Damansara Heights. A unit of 1500 sf is asking between RM560K to RM600K. It seems that this condo is very well maintained but the maintenance is high at 40 sen psf. Rental amount of this unit size is between RM3000 to RM3500.

Anyone who is familiar with this condo knows whether it is easy to rent out the unit or not. Appreciate your feedback very much.

Subang Olives

MaxKHOO — Fri, 15 Apr 2011 00:04:18 +0800

Hi Sifus

Pls provide an insight as to whether Subang Olives Residence is a condo worth investing. Understand that Vacant Possession took place in year 2010 but seems nobody has moved in there yet. Why is that so? Also cannot see any owner letting out the condo units in IProperty. Only sale units available. Is there anything wrong with this condo?

Owners do not have to pay monthly maintenance fee but they have to pay for the car park, of which the revenue collected will be used for maintenance of the property. Anyone knows what is the charge per car park lot?

Would appreciate your feedback.

Thank you.