Marital Status : Single
Age on the first purchase: 28
Year on first purchase : 2006
what is your first property?Where is it located?
My first property is a low-cost apartment bought from developer in Kajang. It is still under construction at that time.
Is it for own stay or for investment?
At the time i buy it, i am not so sure whether it is for my own stay or to be rented. Actually i am a little bit blur at that time, don't really plan it strategically. I just think, i can rent it to factory workers there but if it cannot be rented or the rental rate is too low and not profitable, i will stay on it. It is still in a convenience distance to travel to and from office. 20km.. 20 minutes.. ok la..
At last, i stay on it.
have u studied on property investment before the purchase? How?
Yes, i started to study on property investment since 2005. i read books on Cukup Wang hati Tenang by Hajjah Ruhani, Jutawan dari planet Jupiter, Menjadi tuan rumah Jutawan and Jutawan Hartanah by Azizi Ali. At that time, i started to build my dream to be a property millionaire as what pictured by Azizi Ali. He is absolutely my inspiration.
I remembered at that time, i started to be addicted to buy The Star on every Saturday and read all property for sale and for rent advertised in the classified there. I recycled all the other parts of The Star newspaper but not the Classified section. I remembered i saw advertisment of Vista Angkasa for sale at the price tag of 130K at that time but dont have the courage to call or make any enquiries.. sigh...
At that time, i have not yet join any property investment seminars and i am alone. i dont have friends with the same passion, same dreams. I only have few friends that also interested to buy their first property for their own use.
what makes you decide to buy it?can u tell me the stories behind?
Ok, from my self-learning, i learnt that people makes good rental return from low cost apartments. Low-cost is cheap.. affordable to buy, especially for starters like me who will feel comfortable with the price. Put your money in blur mode but still can sleep tight. :)
However, to buy a low cost apartment, i noticed that there are certain restrictions. So, looking at my salary and my condition at that time, i comply with the restrictions.. but not starting next year. Then, i know i have to buy now, not next year. Then i start to actively looking for new projects and subsale on low-cost apartment. I don't have any idea on auction yet at that moment. I am looking for an apartment with lift but not too high rise with 16 floors. i want an apartment with less than 10 floors, ample parking, quiet environment and clean.. hate to be in some flat where the lift, floors and surrounding are so dirty and congested.
So, when i met this project.. only 8 floors with lift and the surrounding is quiet.. near to government clinics and pasar malam.. i like pasar malam! Then, since this is a new project, the price is low, as set by the government... starting from 42K only.
and the best thing is, when i put the booking, it is then followed by 9 of my friends. 7 of us bought the low cost and the others bought the medium cost. I am so excited!
Did you encounter any problems or difficulties for the purchase? What and how it resolved?
I dont encounter any big problems actually.. just a little bit blurred, which financing package i should take. Also, i am short of money to pay the legal fees for the loan document because no banks give financing on it. Therefore, to settle it, I apply for KWSP withdrawal. It took 2 weeks for the money to be deposited into my bank account.
Is it your dream house? Why?
Hm.. no and yes.
No because i dream of having a kampung style house since young, with the Johorian old house design. But now, i think that dream faded away.. maybe due to progress of time.
Yes, because i paint it and maintain it in my dream style. Due to financial constraint, i do it step by step. I just bought my dream sofa for the house on last week.. after 2 years stay. Hihihihi
After the purchase, what's next?
After the purchase, i become eager to study more on property. I started to dream to buy one apartment that i noticed people are selling at 160K a year later and 180K for the 2nd year. I know i have to start doing it seriously. I started to join mini seminar by azizi ali and preview by renesial leong plus few more property investment books in my reading collection. 2 years after the 1st purchase, I able to buy that apartment at the price of 170K with mark-up s&p of 180K.
Your advice to all property virgins and home buyers out there?
Property is an investment you wont regret to do if you know what you are doing. Any time is a good time to start because it keeps increasing in value. But please don't buy it blindly or just following somebody else's talking. Do your own research. Even if you buy for your own stay, you will enjoy capital appreciation. The house is yours compared to pay rent monthly that makes your landlord smile happily.
If you have children, instead of buy an insurance with education fund, buy a house for each of them. Believe me, it generates more return to your child's education need. Even low cost apartments work.