My tenant is moving out on 15th October 2010. So, the apartment will be available for rent then.
Details:
- RM2700/month
- Minimum 1 year tenancy
- Level 23
- 1000sf
- 2 bedrooms
- 2 bathrooms (master bathroom with bath tub)
- Fully furnished
- Fully air-conditioned
- Living area with TV, sofa set, and dining table
- Fully equipped kitchen with built-in kitchen cabinet, refrigerator,cooker hob & hood
- Facilities included 24 hrs security, swimming pool, gymnasium, laundry, mini market, BBQ, covered carpark.
- 1MBps Streamyx broadband and Astro (rental is inclusive of these)
Mutiara Villa is ideally located in the Golden Triangle of Kuala Lumpur (Jalan Tengkat Tong Shin, close to Jalan Alor); KLCC to the north, Bukit Bintang to the south (Berjaya Times Square, Pavilion, Starhill, Lot 10, Sg Wang Plaza, Low Yat Plaza (exactly across the apartment)), Pudu Bus station & Financial centre to the west, and LRT's dotted all around it; all within 5-10 minutes' walking distance. It is also surrounded by offices, banks, cosmopolitan restaurants, trendy cafes and local street cafe
Please call me at 019-3111177 (Helmy) for more information. Thank you
Saturday, October 9, 2010
Thursday, July 1, 2010
Wednesday, December 16, 2009
Condo management — a pesky problem
Wish property owners would be more responsible and pay their maintenance fees on time. When we don't, our own properties will be devalued!:
Condo management — a pesky problem
Condo management — a pesky problem
Tuesday, November 3, 2009
Bought L-shaped half-leather sofa & TV
Bought L-shaped half-leather sofa & brought my old 29" Sony TV to the apartment (just an excuse to buy a new LCD TV for myself)
Friday, October 16, 2009
Mutiara Villa unit purchasing process complete
And I finally got the keys to my apartment. It took almost five months (agreement to purchase was entered end of May) to get everything settled. Relieved that it's complete now. Anybody who said purchasing process can be completed within three months, is lying :-) The process is tedious, having to deal with sales agent, owner, lawyers, banks, government agencies etc.
Also, already met the current tenant to inform about the handover. Hopefully, this rental will be smooth
Now i can sleep better at night :-)
Also, already met the current tenant to inform about the handover. Hopefully, this rental will be smooth
Now i can sleep better at night :-)
Friday, July 31, 2009
Signed Maybank lawyer loan documents and paid lawyer's fees
Signed Maybank lawyer loan documents and paid the lawyer's fees today. From today, the lawyer said, it will take about 2 months to settle everything
Thursday, July 30, 2009
Maybank's appointed Valuation officer came to value my Mutiara Villa unit
Maybank's appointed Valuation officer came to value my Mutiara Villa unit today. Since I took the non-zero-entry-cost loan (to get better rate), I have to pay for this valuation myself
Tuesday, July 21, 2009
Signed Maybank's loan offer letter
Signed Maybank's loan offer letter today. The offer is BLR-2.21% with 4-years lock-in period
Saturday, July 18, 2009
Got my SPA
The Vendor (seller) finally signed the SPA. So, now I got my SPA and I'm off to secure the loan. Both Maybank and HSBC are offering me BLR-2.1%, but I'm going with Maybank since I have a current account with Maybank. The officer said the letter of offer should be ready on Monday
Tuesday, June 30, 2009
Got a tenant for Mutiara Villa unit
Got a tenant for Mutiara Villa unit for RM1,850 per month. It's complicated for a unit which is in the middle of a transaction, but I agreed to the arrangement as follows:
1) The tenant will pay rent to current owner now
2) Once the unit is officially mine, the tenant will pay rent to me
At least I don't have to worry about finding a tenant once the unit's transferred to me
1) The tenant will pay rent to current owner now
2) Once the unit is officially mine, the tenant will pay rent to me
At least I don't have to worry about finding a tenant once the unit's transferred to me
Thursday, June 25, 2009
Signed my SPA & paid the remaining 8% deposit
Signed my SPA & paid the remaining 8% deposit. Also paid the lawyer's fees today. Now, I have to wait for the seller to sign the SPA. Afterwards, I need to submit the signed SPA to the bank for processing of the loan. I still haven't chosen which loan to take. It's either HSBC or Maybank. I prefer Maybank for convenience' sake, but they are playing hard to get to offer me better rate than HSBC. If they can't offer me better rate, I'll go wih HSBC
Also met a great property investor today. He shared tips on property investments. At one time he had 4 units at Mutiara Villa. But now, he only has one left. He has moved to high-end properties (ie one which sells in sf, as in RM600psf). I aspire to be like him one day
Also met a great property investor today. He shared tips on property investments. At one time he had 4 units at Mutiara Villa. But now, he only has one left. He has moved to high-end properties (ie one which sells in sf, as in RM600psf). I aspire to be like him one day
Friday, May 29, 2009
Mutiara Villa apartment
Today, I entered into an agreement to buy a Mutiara Villa apartment in Bukit Bintang.
Mutiara Villa is 15 years old. It is ideally located in the Golden Triangle of Kuala Lumpur (Tengkat Tong Shin, close to Jalan Alor).
Unit's details:
- Level 23
- 1041sf
- 2bedroom
- 2bathroom (master bathroom with bath tub)
- Fully furnished
- Fully air-conditioned
- Living area with TV,sofa set,coffee table
- Fully equipped kitchen with built-in kitchen cabinet, refrigerator,cooker hob & hood
- Facilities included 24 hrs security, swimming pool, gymnasium, laundry, mini market, BBQ, covered carpark.
The location is strategic. As people say, the three most important things in property investments are location, location and location. It's within walking distance to many interesting places in Kuala Lumpur.
See below for the map:
As you can see, the apartment(orange icon) is in the middle of KL. KLCC to the north, Bukit Bintang to the south (Berjaya Times Square, Pavillion, Starhill, Lot 10, Sg Wang Plaza, Low Yat Plaza (exactly across the apartment)), Pudu Bus station & Financial centre to the west, and LRT dotted all around it. It is also surrounded by offices, banks, cosmopolitan restaurants, trendy cafes and local street cafe.
Here's what the building looks like:
Here's what it looks inside:
It's located high up, so the view is nice:
If anybody wants to rent this apartment, do contact me. I'm renting it out for RM2,500
The agreement to purchase the apartment today was in the form of paying the earnest deposit (2%) to the Real Estate Agent. The rest of the 10% deposit is payable upon signing the Sales & Purchase (S&P) Agreement. I will apply for loan for the remaining 90%.
The agent told me the whole process will take about three months (The S&P will take a month, while loan processing will take another two months). That means, I will only get my keys in September 2009.
The agent also introduced me to a lawyer who will handle this purchase for me. The lawyer's office is located close by to the apartment at Jalan Sultan Ismail, so I just walked there. Lawyer’s fees are very expensive. Those, plus stamp duty etc amount to about 3-4% of the purchase price.
Later on, I shopped for home loans. I went to HSBC which was also at Jalan Sultan Ismail and talked to the nice officer there. Current poor economic condition is the best time to apply for loans, since government wants to promote expenditures to stimulate the economy, and thus, they lower the loan rates. Actually, I was at crossroads about whether it’s best to use the money I have, to invest in stock market (and Public Mutual unit trusts) to take advantage of the low prices now, or to buy property and take up home loans, to take advantage of the low loan rates. In the end, I chose property. I will continue investing in stock market and unit trusts, but I will roll the money I already have invested or slow down a bit. At HSBC, for the HomeSmart loan, for the 7-years Lock-in Period, they offer BLR-1.85% (for Bank paying costs (legal etc)) for the first year, and BLR-1.75% for subsequent years. Since BLR is 5.55% now, that’s 3.7%! And if I choose to pay costs myself, it’s BLR-2.25% for the first year (3.3%) and BLR-1.95% for subsequent years. I think, for this purchase, I’ll opt for paying myself, since after calculating, I think I can save about 1.5% of purchase cost.
My lawyer also gave my number to other banks like Maybank & CIMB. Maybank’s offering BLR-2.1%. I hope HSBC approves my loan. Even though government & banks want people to take up loans more than ever now, they are also very selective about who they give loan too, to avoid problems like in the USA where lending home loans to people who can’t pay back (subprime) was the start of the entire mess of the current financial crisis. Guess I'll find out whether my loan application is successful in about two months' time
KLCI: 1044
Mutiara Villa is 15 years old. It is ideally located in the Golden Triangle of Kuala Lumpur (Tengkat Tong Shin, close to Jalan Alor).
Unit's details:
- Level 23
- 1041sf
- 2bedroom
- 2bathroom (master bathroom with bath tub)
- Fully furnished
- Fully air-conditioned
- Living area with TV,sofa set,coffee table
- Fully equipped kitchen with built-in kitchen cabinet, refrigerator,cooker hob & hood
- Facilities included 24 hrs security, swimming pool, gymnasium, laundry, mini market, BBQ, covered carpark.
The location is strategic. As people say, the three most important things in property investments are location, location and location. It's within walking distance to many interesting places in Kuala Lumpur.
See below for the map:
As you can see, the apartment(orange icon) is in the middle of KL. KLCC to the north, Bukit Bintang to the south (Berjaya Times Square, Pavillion, Starhill, Lot 10, Sg Wang Plaza, Low Yat Plaza (exactly across the apartment)), Pudu Bus station & Financial centre to the west, and LRT dotted all around it. It is also surrounded by offices, banks, cosmopolitan restaurants, trendy cafes and local street cafe.
Here's what the building looks like:
Here's what it looks inside:
It's located high up, so the view is nice:
If anybody wants to rent this apartment, do contact me. I'm renting it out for RM2,500
The agreement to purchase the apartment today was in the form of paying the earnest deposit (2%) to the Real Estate Agent. The rest of the 10% deposit is payable upon signing the Sales & Purchase (S&P) Agreement. I will apply for loan for the remaining 90%.
The agent told me the whole process will take about three months (The S&P will take a month, while loan processing will take another two months). That means, I will only get my keys in September 2009.
The agent also introduced me to a lawyer who will handle this purchase for me. The lawyer's office is located close by to the apartment at Jalan Sultan Ismail, so I just walked there. Lawyer’s fees are very expensive. Those, plus stamp duty etc amount to about 3-4% of the purchase price.
Later on, I shopped for home loans. I went to HSBC which was also at Jalan Sultan Ismail and talked to the nice officer there. Current poor economic condition is the best time to apply for loans, since government wants to promote expenditures to stimulate the economy, and thus, they lower the loan rates. Actually, I was at crossroads about whether it’s best to use the money I have, to invest in stock market (and Public Mutual unit trusts) to take advantage of the low prices now, or to buy property and take up home loans, to take advantage of the low loan rates. In the end, I chose property. I will continue investing in stock market and unit trusts, but I will roll the money I already have invested or slow down a bit. At HSBC, for the HomeSmart loan, for the 7-years Lock-in Period, they offer BLR-1.85% (for Bank paying costs (legal etc)) for the first year, and BLR-1.75% for subsequent years. Since BLR is 5.55% now, that’s 3.7%! And if I choose to pay costs myself, it’s BLR-2.25% for the first year (3.3%) and BLR-1.95% for subsequent years. I think, for this purchase, I’ll opt for paying myself, since after calculating, I think I can save about 1.5% of purchase cost.
My lawyer also gave my number to other banks like Maybank & CIMB. Maybank’s offering BLR-2.1%. I hope HSBC approves my loan. Even though government & banks want people to take up loans more than ever now, they are also very selective about who they give loan too, to avoid problems like in the USA where lending home loans to people who can’t pay back (subprime) was the start of the entire mess of the current financial crisis. Guess I'll find out whether my loan application is successful in about two months' time
KLCI: 1044
Saturday, May 2, 2009
Welcome to Helmy's Property Investment blog
Welcome to Helmy's Property Investment blog. Here you will find me venturing into a new type of investment, property.
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