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Amcorp Mall Suites
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viwawa



Joined: 31 May 2009
Posts: 9

PostPosted: Sun May 31, 2009 1:01 pm    Post subject: Reply with quote

ysmn wrote:
1. office suite and service suite about same gross yields.
2. For service suites 25c psf inc sinking fund.

FYI, I called up an agent and he told me the maintenance fee for commercial units is 0.50psf.
I went from floor to floor but couldn't find any "For Sale/Let" stickers on any of the units at Amcorp Tower or Menara PJ. How do I find out if there are any units for sale besides checking the newspapers? Is there a special way, or a special RE agency?
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ysmn



Joined: 19 Sep 2006
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PostPosted: Sun May 31, 2009 5:05 pm    Post subject: Reply with quote

Can try Star Newspaper Classifieds section and ..iproperty.com.my
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ysmn



Joined: 19 Sep 2006
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PostPosted: Sun Jul 19, 2009 4:47 pm    Post subject: Strata Titles Issued Reply with quote

The Strata Titles have been issued.
This means the JMB will be disbanded and MC formed with maintenance taken over fully by owners; and Developer withdrawing. Let's hope we manage to do a better and better job.
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bluehyppo1983



Joined: 08 Apr 2007
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Location: subang

PostPosted: Thu Jul 23, 2009 10:45 am    Post subject: Reply with quote

hi ysmn..

need some advise...im planning to get a unit of amcorp suite...488 sqft...for the price of 250k.is it too high?

as for your latest post...the owner will be doing the maintenance...is it ok or easier to manage?
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ysmn



Joined: 19 Sep 2006
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PostPosted: Thu Jul 23, 2009 11:34 am    Post subject: Reply with quote

I am very confident with Amcorp management going forward. My valuation for 488sq ft suite is currently Rm258k. Fully furnished And rental minimum for fully furnished Rm1700 for 12 month tenancy. Bear in mind that as the suite is smaller your maintenance commitment is also lower. Whatever you decide, good luck.
For unfurnished basic unit Rm243k.
That's my view. You may or may not get cheaper depending on willingness of sellers.
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Pai



Joined: 28 Aug 2005
Posts: 902

PostPosted: Thu Jul 23, 2009 2:00 pm    Post subject: Reply with quote

bluehyppo1983 wrote:
hi ysmn..

need some advise...im planning to get a unit of amcorp suite...488 sqft...for the price of 250k.is it too high?



think someone posted that they bought a furnished unit for 205k only just a few months back. Think it was Shen. Smile
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shennanigans



Joined: 17 Dec 2007
Posts: 229

PostPosted: Thu Jul 23, 2009 3:56 pm    Post subject: Reply with quote

Quote:
think someone posted that they bought a furnished unit for 205k only just a few months back. Think it was Shen.


quite right Pai, bloody good memory lol..... think the offer was 215, and we got it down to 207. We were lucky with the sellers (very keen to sell), but had been keeping an eye out for a while. As always, wait and u'd hopefully find a bargain. Still waitin for my keys tho.... sigh....

SNGNs
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ysmn



Joined: 19 Sep 2006
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PostPosted: Thu Jul 23, 2009 4:43 pm    Post subject: Reply with quote

Shen, The seller needs to check with the management on whether all maintenance, water charges, assessment has been settled, before they can give consent for reasignment.
From my experience, the ball is usually stuck at seller, and lawyers not following up. Amcorp Management has been pretty responsive. You might want to walk into Menara Melawangi ground floor and have a friendly chat with Fadil or Andrea, who are both very sweet and good at what they do. They may be able to give you some info if you are nice ( which I believe you are ).
The lawyers are not going to go all out to chase this. Once your loan offer is accepted and the sellers bank is informed, usually he will be able to clear all in 3 months. You might want to expedite by offering to pay first any outstanding outgoings and then deducting from sums due to the seller - if you are allowed to.
Just my few pointers to hasten the welcome of my future neighbour.
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Last edited by ysmn on Thu Jul 23, 2009 4:50 pm; edited 1 time in total
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Pai



Joined: 28 Aug 2005
Posts: 902

PostPosted: Thu Jul 23, 2009 4:46 pm    Post subject: Reply with quote

shennanigans wrote:
Quote:
think someone posted that they bought a furnished unit for 205k only just a few months back. Think it was Shen.


quite right Pai, bloody good memory lol..... think the offer was 215, and we got it down to 207. We were lucky with the sellers (very keen to sell), but had been keeping an eye out for a while. As always, wait and u'd hopefully find a bargain. Still waitin for my keys tho.... sigh....

SNGNs


so long? Shocked

This y I no likey LH props...
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shennanigans



Joined: 17 Dec 2007
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PostPosted: Thu Jul 23, 2009 5:00 pm    Post subject: Reply with quote

sigh+lol+sob.... yes, 6 months +, bargains also come tied with a price lol. sellers were a couple that had broke up, one partner had moved to HK, so getting stuff done was slow, then my lawyer migrated so the handover got all messed up!! Have been told the bank now has been instructed to release payment, so insyallah, by the end of the month..... almost 8 months total for the whole transaction !! as long as it was worth the wait, tapelar......

SNGNs
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ysmn



Joined: 19 Sep 2006
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PostPosted: Thu Jul 23, 2009 5:17 pm    Post subject: Reply with quote

shennanigans wrote:
sigh+lol+sob.... yes, 6 months +, bargains also come tied with a price lol. sellers were a couple that had broke up, one partner had moved to HK, so getting stuff done was slow, then my lawyer migrated so the handover got all messed up!! Have been told the bank now has been instructed to release payment, so insyallah, by the end of the month..... almost 8 months total for the whole transaction !! as long as it was worth the wait, tapelar......

SNGNs
You can still look on the bright side. If one of the sellers had died, then you have to put everything on hold minimum 1 year for the probate. Good thing you got a great deal. الحمد لله
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ysmn



Joined: 19 Sep 2006
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PostPosted: Thu Jul 23, 2009 5:21 pm    Post subject: Reply with quote

Pai wrote:
shennanigans wrote:
Quote:
think someone posted that they bought a furnished unit for 205k only just a few months back. Think it was Shen.


quite right Pai, bloody good memory lol..... think the offer was 215, and we got it down to 207. We were lucky with the sellers (very keen to sell), but had been keeping an eye out for a while. As always, wait and u'd hopefully find a bargain. Still waitin for my keys tho.... sigh....

SNGNs


so long? Shocked

This y I no likey LH props...
May I beg to differ, I don't think it is about LH.
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Pai



Joined: 28 Aug 2005
Posts: 902

PostPosted: Thu Jul 23, 2009 5:25 pm    Post subject: Reply with quote

shennanigans wrote:
sigh+lol+sob.... yes, 6 months +, bargains also come tied with a price lol. sellers were a couple that had broke up, one partner had moved to HK, so getting stuff done was slow, then my lawyer migrated so the handover got all messed up!! Have been told the bank now has been instructed to release payment, so insyallah, by the end of the month..... almost 8 months total for the whole transaction !! as long as it was worth the wait, tapelar......

SNGNs


pretty sure it'll be worth the wait, guess u must be dying to start reno'ing n furbishing the studio to make it super cool pad Cool
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shennanigans



Joined: 17 Dec 2007
Posts: 229

PostPosted: Thu Jul 23, 2009 5:43 pm    Post subject: Reply with quote

Quote:
You can still look on the bright side. If one of the sellers had died, then you have to put everything on hold minimum 1 year for the probate. Good thing you got a great deal. الحمد لله


lol, interest take on perspective ysmn! Thanks for the tip above, will seek out Andrea if i have to Wink

Pai, not gonna be reworking it too much, tho i'd like too, too many things going on, so just gonna get it decently set up, and on the market ASAP. Test waters for a year, then see how. Will be pretty happy to get away with around 1.7 rental for now.

SNGNs


Last edited by shennanigans on Thu Jul 23, 2009 5:57 pm; edited 1 time in total
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ysmn



Joined: 19 Sep 2006
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PostPosted: Thu Jul 23, 2009 5:50 pm    Post subject: Reply with quote

shennanigans wrote:
Quote:
You can still look on the bright side. If one of the sellers had died, then you have to put everything on hold minimum 1 year for the probate. Good thing you got a great deal. الحمد لله


lol, interest take on perspective ysmn! Thanks for the tip above, will seek out Andrea if i have to Wink

Pai, not gonna be reworking it too much, tho i'd like too, too many things going on, so just gonna get it decently set up, and on the mark ASAP. Test waters for a year, then see how. Will be pretty happy to get away with around 1.7 rental for now.

SNGNs
Yup 1.7k is about right for 12 months in advance, higher for monthly payments 2.15k, and short term 1 month 2.4k.

Sorry, I follow the Middle Eastern Tenancy Model, which works for me.
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ysmn



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PostPosted: Thu Jul 23, 2009 5:52 pm    Post subject: Reply with quote

Very Happy
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Last edited by ysmn on Thu Jul 23, 2009 9:07 pm; edited 1 time in total
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ysmn



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PostPosted: Thu Jul 23, 2009 5:54 pm    Post subject: Reply with quote

Smile sorry repeated post removed.
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Last edited by ysmn on Fri Jul 24, 2009 6:22 am; edited 1 time in total
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shennanigans



Joined: 17 Dec 2007
Posts: 229

PostPosted: Thu Jul 23, 2009 6:10 pm    Post subject: Reply with quote

Quote:
Sorry, I follow the Middle Eastern Tenancy Model, which works for me.


sifu, apa it aaaa?? Pay bulk get a good discount concept, or is there a calculation behind it?

SNGNs
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Pai



Joined: 28 Aug 2005
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PostPosted: Thu Jul 23, 2009 6:41 pm    Post subject: Reply with quote

shennanigans wrote:

Will be pretty happy to get away with around 1.7 rental for now.


thats 10% yield, damn good IMO Smile
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ysmn



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PostPosted: Thu Jul 23, 2009 6:54 pm    Post subject: Reply with quote

That's Correct.
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Daryl Teo



Joined: 09 Feb 2008
Posts: 4862

PostPosted: Thu Jul 23, 2009 7:33 pm    Post subject: Reply with quote

ysmn wrote:
Yup 1.7k is about right for 12 months in advance, higher for monthly payments 2.15k, and short term 1 month 2.4k.

Sorry, I follow the Middle Eastern Tenancy Model, which works for me.


A very interesting proposition Very Happy

Works well with short termers but got to iron out all the kinks especially if u come across tenants who keep shifting their positions on their tenure
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ysmn



Joined: 19 Sep 2006
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PostPosted: Thu Jul 23, 2009 8:39 pm    Post subject: Reply with quote

That Daryl also has a ready solution/methodology
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bluehyppo1983



Joined: 08 Apr 2007
Posts: 7
Location: subang

PostPosted: Fri Jul 24, 2009 10:42 am    Post subject: Reply with quote

ysmn,thanx for the info...

will be viewing a unit in amcorp service suite tomorrow..hopefully it is ok.
the agent told me tht it is on the 22nd floor...

ysmn,just wanna know tht is it easy to get tenant for 488sqft unit?
coz ive no idea particularly which grooup of ppl who wants to rent there..
and

actually im on a tight budget..just hoping tht i can rent it out asap after i buy the unit or else ill be eating ROTI all the way...haha.
i have been monitoring the star papers for few days..looks like there is a lot of unit for rental..

thanx..
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ysmn



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PostPosted: Fri Jul 24, 2009 12:52 pm    Post subject: Reply with quote

Dear Bluehyppo,
Yes there are currently more available units for rental, as the demand fluctuates. I think if you ask rm1500 for a fully furnished unit, would not be too dificult to rent out.
My friends who are renting out condos in the City Centre for rm5000-rm8000 per month are also affected, so they rent out for even 3 -6 month periods.
But as Amcorp is cheaper than klcc, it would be easier I think to rent it out to corporate tenants/.
If you are the average guygirl, you'd probably be paying rm1100 per month installment for your suite + rm122 maintenance, and should easily be in +ve cash flow based on current rents.
I believe you can easily achieve the rents I'm getting as 22nd floor is pretty desirable.
Just make sure that when prospective tenants view, you manage to maximise the love at first sight factor. My older posts do give an outline on the principle.
All the best.
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shennanigans



Joined: 17 Dec 2007
Posts: 229

PostPosted: Fri Jul 24, 2009 1:09 pm    Post subject: Reply with quote

awwww crap..... 1500? sniff..... that brings the yeild down to 7.5% Sad

forgot to add, good luck blueman, keep us posted on the price and rental, am obviously very interested Very Happy

SNGNs
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