AirBnB/home sharing - worth it?

Khkow — Sun, 03 Jul 2016 15:43:47 +0800

Hey guys, The Star has a good coverage of home sharing today http://www.thestar.com.my/news/nation/2016...-versus-hotels/

I tried to search in this forum about AirBnB or home sharing but couldn't find one (do let me know if this topic has already been discussed and appreciate the link as well).

With today's property market condition (not to mention, rental as well), I have a fully furnished unit here struggling to get a tenant. Advertised everywhere and engaged agents too but no queries so far (or reluctant to reduce my intended rental by 60-70% just to get the unit rented as I am well aware of all the negative consequences of doing so). My unit has been empty for the 7th month now after VP and do need to find an alternative to get a tenant, be it short term or long term.

What's your view on AirBnB or home sharing idea? I am confused with the legal obligation too as I am getting contrasting view from the The Paper today, especially with the Penang case. Also, the neighbor (or the committee team) will probably object too... but my apartment is only less than 10% occupied since is a new development.

My preference is always on long term tenant, and will always be. However, my pocket is leaking month by month and I do need a short term solution to weather today's rental market.

Appreciate your view here. Especially from those whom had tried the home sharing channel for rental...

Accumulating bullets for down payment

Khkow — Sun, 21 Jul 2013 13:53:18 +0800

Hey guys,

Running into a dilemma here and is reaching out to seek advise from those seasoned property TK/TKC for direction.

I recently purchased a new launch with 30% down payment as we already exceeded our quota and run out of bullets for the down payment of my next investment (even used up the EPF account 2). I am considering a few options here and not sure which is the best, especially since the next move is going to be 30% again.

My strategy is not really flipping but accumulating enough properties for retirement purpose (i.e. collecting rental income after retirement). Here are a couple of options I am considering and really appreciate if you can share your experience on the do’s and don’t or have done something differently or have different thoughts:

1. The obvious one: Re-financing. I have not done that before and is having cold sweat by the thought of having to get a new loan for property that is fully paid off. Should I or should I not?

2. If I do re-finance, which bank should I go with that gives the best flexibility and interest rate? Any other options apart from re-financinig?

3. Should I just sell off the apartment that is already fully paid up for RM500k and use the proceed as down payments for two more investments? The dilemma I have with this is that since this is already fully paid up, it is giving me a very good monthly rental income and is in-line with my long term goal

4. Or should I sell off another apartment where the loan is still on-going for RM200k profit? The dilemma I have with this is (a) the rental is giving me positive cash flow and (2) RM200k can only allow me to buy just one more property with 30% down payment plus I will face the same problem again after the next move

5. Regardless of re-financing or selling off, should I change my strategy to flipping on future investment as I am going to run into the same problem over and over again if I go with the “buy and keep” strategy? How else can I do this for my retirement plan?

Looking forward for your advise guys!

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AirBnB/home sharing - worth it?

Accumulating bullets for down payment