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231TR, Jalan Tun Razak. Owner's review
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boleh



Joined: 23 Mar 2006
Posts: 159

PostPosted: Sun Apr 23, 2006 5:45 pm    Post subject: Reply with quote

jesale is getting too personal..... Surprised nevermind that Yip guy is your relative or you have purchased a unit.....this project is definitely a no-no for me, no not because its not a shop but the Indon problem is very real.....no one in their right frame of mind will rent a place next to the Indon embassy.....i think you have more Indon workers and illegals compared with Indian nationals along Jalan Duta.

Other cons i can think of:

- due to multitude of possibly illegal Indons just next door.....security will be a big problem.....they watch you in and out of that place.....

- YWC unknown in property development.......first time doing building projects i think......was told previously doing piping and infrastructure works as a contractor.

- YWC paid-up capital only RM2.4 million. am i right, jesale Question......this is really small.....can't even buy a bungalow in Jiulai, nebermind a decent shop house in a good area.....this is a huge turn off for me.....seriously i could have come up with a larger amount than that....... Laughing

- design......one of the most basic and not appealing at all.

- land......too tiny even for 195 units

- owners......most if not all are investors.....was at their launch and saw quite a number of retirees investing their hard-earned $$$ hoping for a decent yield.....competition will be stiff to rent out your unit in 3 years time.

good luck to all purchasers.....can't wait to see this project's ROI after its completion.....if it actually does that is..... Exclamation
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geordie



Joined: 04 Jan 2006
Posts: 130
Location: KUL/NCL

PostPosted: Sun Apr 23, 2006 6:29 pm    Post subject: Reply with quote

I do share some of Boleh's sentiments.

Was at the launch and came out not altogether impressed. Yup, seemingly a good number of retirees there. From my eaves-dropping, a good number of investors and a good number of own-stay folks. It's the latter that caused alarm bells to ring when it comes to the next point.

Is there a design fault somewhere along the drawing up of the blue print ?? Marketed as service suites, I can understand that they are pushing for future residents to use their common facilities like laundrette etc. Few own-stay potentials were lamenting the fact that the units lack a proper area for washing machine. The Reapfield folks calmly suggested placing the washing machine in the kitchen or bathroom. Come on ! Some would-be buyers seemed to have resolve to put theirs in the lanai instead ! This group of individuals did have their orange stickers put up but I can't remember for which floor or unit. I dread the thought of neighbours' washing displaying on the blaconies of Tun Razak. Confused

Car park to be leased at M$60 for the first year or two. No one can confirm how much it will be marketed after the 2-year 'guarantee' period.

The particular sales personnel who attended to us did hesitate for a long while when asked about land status before she answered 'commercial'.

The above are just very personal opinion of mine.
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jesale



Joined: 24 May 2005
Posts: 956

PostPosted: Sun Apr 23, 2006 8:47 pm    Post subject: Reply with quote

Me getting personal?? Pls la.... I said all opinions are fine, was merely clarifying on actual data. Anyway, am very happy with all my investments to date....but I wish you luck in yours too. Very Happy And Boleh, if I was getting too personal, i would have bitten your head off a long time ago for being intentionally rude, eh? Very Happy

End of the day, prime area is still prime area to me. And when comparing, we cannot compare oranges with apples. 231TR has very low entry level compared to Troika for example. So, unless we are ok with an RM2Mil investment, then by all means, go for the more impressive one, am I right? Wink Trust me, getting personal is like what Lambastslee did with the Cheras thread. I was all the way civil. Very Happy
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Sun Apr 23, 2006 8:58 pm    Post subject: Reply with quote

think everyone have valid points so no point arguing over such small kuchimeow matter.. one thing i've discoverd about real estate is that as long as you get the property deliverd (i.e not abandoned) and the location is somewhat alright, real estate investment is VERY forgiving.

Look at Bukit Utama for example.. things probably look bad to everyone who don't own a prop there but to the owners, they probably think it is still a good investment.. (i'm just guessing by the way)
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jesale



Joined: 24 May 2005
Posts: 956

PostPosted: Sun Apr 23, 2006 9:02 pm    Post subject: Reply with quote

Boleh, you posted some questions on YWC? No, the info you got is not correct either. But never mind la, I don't need to clarify on ppl's company data. Perhaps you can get an accurate company report from them?

Each to his or her own invesment options, I say. Even if I were to purchase MK10 from Sunrise, there will also be those who come in and tell me I made the wrong move. I guess all that matters is that I know what I am doing, and I have been investing for a long time now. But your concerns are well appreciated. Thank you.
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jesale



Joined: 24 May 2005
Posts: 956

PostPosted: Sun Apr 23, 2006 9:07 pm    Post subject: Reply with quote

Banzai wrote:
think everyone have valid points so no point arguing over such small kuchimeow matter.. one thing i've discoverd about real estate is that as long as you get the property deliverd (i.e not abandoned) and the location is somewhat alright, real estate investment is VERY forgiving.

Look at Bukit Utama for example.. things probably look bad to everyone who don't own a prop there but to the owners, they probably think it is still a good investment.. (i'm just guessing by the way)



Banzai, I agree with you whole heartedly. Even though I see some of you disagreeing with investments in Bkt Utama, we do not know the real situations that go on in there, looking from outside. There are also those who made huge capital gains and are laughing all the way to the bank. So I guess to totally stereotype a single investment as totally bad or good is not sensible either. It also deeply depends on the Investor's strategies and how he plays the game. For me, I know my game. Am never worried about the small "kuchimayam" details that plague the others.

But again, thank you all for your comments. The Director of YWC knows about this forum, I am sure he appreciates all the feedbacks, literally. Wink
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ylon



Joined: 03 Mar 2006
Posts: 96

PostPosted: Sun Apr 23, 2006 10:36 pm    Post subject: Reply with quote

Indeed 231TR is a very low entry investment in the prime area. Then of course I will not be expecting too much. However, personally i think following investors with portfolio like jesale can hardly go wrong... Very Happy
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matrix



Joined: 18 Apr 2006
Posts: 3

PostPosted: Sun Apr 23, 2006 10:53 pm    Post subject: Reply with quote

I managed to visit the showroom yesterday and was fairly impress with the development, although i share the views of a number of others in that the developer is fairly new at property development.

Jesale, since you mention that the director of YWC do read the forum, perhaps this will be a motivation for them to ensure that the development goes well Very Happy After all, this will be a stepping stone for their future projects, hence, there are a lot at stake on their first project.

Few positives i found (1) low entry level to KLCC address whcih should translate to higher yield; (2) interest & instalment free during the construction period (this bodes well especially given the rising BLRs.. ) (3) location (although i've listed it as a negative below also) .. they are also situated near the shopping area and newly built hospital) (4) semi furnished (i.e. kitchen cabinet with hob & hood)


A couple of negative points... (1) KLCC area maybe facing a oversupply of condo/service apartments over the next few years; (2) close vicinity to Indon & Kuwait embassy (3) road construction around the area .. but this should be completed by the time the property is completed

Just my view... feel free to comment
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jesale



Joined: 24 May 2005
Posts: 956

PostPosted: Sun Apr 23, 2006 10:55 pm    Post subject: Reply with quote

Thank you, ylon for the vote of confidence. I do know my game well, and will never mislead others as long as I can help it. Unfortunately, there is no one way to ever convince others of what actually works short of showing them the balance sheet accounts perhaps? So, in other words, there is only so much I can contribute in a forum, and like what my mentor said earlier, "you cannot press a cow's head down as long as he does not want to drink from the stream"....in literal direct Cantonese translation. But thanks again. Very Happy
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jesale



Joined: 24 May 2005
Posts: 956

PostPosted: Sun Apr 23, 2006 11:10 pm    Post subject: Reply with quote

matrix wrote:
I managed to visit the showroom yesterday and was fairly impress with the development, although i share the views of a number of others in that the developer is fairly new at property development.

Jesale, since you mention that the director of YWC do read the forum, perhaps this will be a motivation for them to ensure that the development goes well Very Happy After all, this will be a stepping stone for their future projects, hence, there are a lot at stake on their first project.

Few positives i found (1) low entry level to KLCC address whcih should translate to higher yield; (2) interest & instalment free during the construction period (this bodes well especially given the rising BLRs.. ) (3) location (although i've listed it as a negative below also) .. they are also situated near the shopping area and newly built hospital) (4) semi furnished (i.e. kitchen cabinet with hob & hood)


A couple of negative points... (1) KLCC area maybe facing a oversupply of condo/service apartments over the next few years; (2) close vicinity to Indon & Kuwait embassy (3) road construction around the area .. but this should be completed by the time the property is completed

Just my view... feel free to comment



Good comments, Matrix. Noted your pros and cons. Agreed with the pros and not particularly bothered by the cons. I really never nit-pick at cons of a property unless they are huge enough to tell me, regardless of how I look at it, this investment will make me lose money. If I took all cons of everything into such serious consideration, I can safely tell you that there is no perfect place to invest in then. What i can say is, know your game (I say this a lot I know but it's true), know what your limitations are, never be afraid of risks and whack the opportunities as hard as you can. Only when you do this, you will make money. If you don't, you will note that the climb up the ladder of success is as slow as can be, if any at all. Good luck to you! Very Happy
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Sun Apr 23, 2006 11:21 pm    Post subject: Reply with quote

matrix.. your con of being near the embassies may not necessarily be a con. There could be potential tenants because of these :p

In an ideal world, everything is price adjusted to reflect the +/-ves. If it is a sure fire hit, the development would not be so cheap.. Heck, even prime property in Jiulai is 4.8million.. what more you want for a slice of property near the Golden Triangle
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jesale



Joined: 24 May 2005
Posts: 956

PostPosted: Sun Apr 23, 2006 11:28 pm    Post subject: Reply with quote

Banzai wrote:
matrix.. your con of being near the embassies may not necessarily be a con. There could be potential tenants because of these :p

In an ideal world, everything is price adjusted to reflect the +/-ves. If it is a sure fire hit, the development would not be so cheap.. Heck, even prime property in Jiulai is 4.8million.. what more you want for a slice of property near the Golden Triangle



And that's why you are my mentor. Very Happy Jesale applauds Banzai for the wise words.
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Sun Apr 23, 2006 11:41 pm    Post subject: Reply with quote

jesale wrote:
Banzai wrote:
matrix.. your con of being near the embassies may not necessarily be a con. There could be potential tenants because of these :p

In an ideal world, everything is price adjusted to reflect the +/-ves. If it is a sure fire hit, the development would not be so cheap.. Heck, even prime property in Jiulai is 4.8million.. what more you want for a slice of property near the Golden Triangle



And that's why you are my mentor. Very Happy Jesale applauds Banzai for the wise words.


since the rest o the gang not around, got to generate traffic for this place mah Very Happy
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Sun Apr 23, 2006 11:44 pm    Post subject: Reply with quote

Banzai wrote:
jesale wrote:
Banzai wrote:
matrix.. your con of being near the embassies may not necessarily be a con. There could be potential tenants because of these :p

In an ideal world, everything is price adjusted to reflect the +/-ves. If it is a sure fire hit, the development would not be so cheap.. Heck, even prime property in Jiulai is 4.8million.. what more you want for a slice of property near the Golden Triangle



And that's why you are my mentor. Very Happy Jesale applauds Banzai for the wise words.


since the rest o the gang not around, got to generate traffic for this place mah Very Happy


notice i break my answer into multiple parts? Laughing

but having said that.. i still cannot rationalise Jiulai for 4.8 million.. what am i missing out here ? got to pay that place a visit if it's not such a shitty place to drive to..
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jesale



Joined: 24 May 2005
Posts: 956

PostPosted: Sun Apr 23, 2006 11:47 pm    Post subject: Reply with quote

I know where Nick is, but where on earth are Merc and Goliath? Goliath driving hometown izit? Merc....close clinic walking home now?? Laughing
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Sun Apr 23, 2006 11:53 pm    Post subject: Reply with quote

jesale wrote:
I know where Nick is, but where on earth are Merc and Goliath? Goliath driving hometown izit? Merc....close clinic walking home now?? Laughing


Merc is walking his 'clients' home Laughing
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jesale



Joined: 24 May 2005
Posts: 956

PostPosted: Sun Apr 23, 2006 11:57 pm    Post subject: Reply with quote

Banzai wrote:
jesale wrote:
I know where Nick is, but where on earth are Merc and Goliath? Goliath driving hometown izit? Merc....close clinic walking home now?? Laughing


Merc is walking his 'clients' home Laughing



You pulling my leg ah? Laughing Laughing
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Banzai



Joined: 25 Oct 2004
Posts: 3367

PostPosted: Sun Apr 23, 2006 11:59 pm    Post subject: Reply with quote

jesale wrote:
Banzai wrote:
jesale wrote:
I know where Nick is, but where on earth are Merc and Goliath? Goliath driving hometown izit? Merc....close clinic walking home now?? Laughing


Merc is walking his 'clients' home Laughing



You pulling my leg ah? Laughing Laughing


Laughing who knows.. he's got lots of admirers at his clinics..
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jesale



Joined: 24 May 2005
Posts: 956

PostPosted: Mon Apr 24, 2006 12:05 am    Post subject: Reply with quote

Oh I see. Patients also want to kacau. Tsk tsk.... Wink And Goliath would be on the way to hometown....maybe shot past Ipoh and now in Thailand. Very Happy
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ylon



Joined: 03 Mar 2006
Posts: 96

PostPosted: Mon Apr 24, 2006 12:28 am    Post subject: Reply with quote

jesale wrote:
Banzai wrote:
matrix.. your con of being near the embassies may not necessarily be a con. There could be potential tenants because of these :p

In an ideal world, everything is price adjusted to reflect the +/-ves. If it is a sure fire hit, the development would not be so cheap.. Heck, even prime property in Jiulai is 4.8million.. what more you want for a slice of property near the Golden Triangle



And that's why you are my mentor. Very Happy Jesale applauds Banzai for the wise words.


okok.. then banzai is my grand mentor!
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mercuri



Joined: 03 May 2005
Posts: 4599
Location: KL

PostPosted: Mon Apr 24, 2006 9:27 am    Post subject: Reply with quote

Banzai wrote:
jesale wrote:
Banzai wrote:
jesale wrote:
I know where Nick is, but where on earth are Merc and Goliath? Goliath driving hometown izit? Merc....close clinic walking home now?? Laughing


Merc is walking his 'clients' home Laughing



You pulling my leg ah? Laughing Laughing


Laughing who knows.. he's got lots of admirers at his clinics..



kekekekeke, Wink
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zap



Joined: 15 Jul 2005
Posts: 60

PostPosted: Mon Apr 24, 2006 9:30 am    Post subject: Reply with quote

...jesale....what financing (which bank) would be more appropriate if flipping this upon completion is intended...
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jesale



Joined: 24 May 2005
Posts: 956

PostPosted: Mon Apr 24, 2006 11:03 am    Post subject: Reply with quote

zap wrote:
...jesale....what financing (which bank) would be more appropriate if flipping this upon completion is intended...



The developer is absorbing all interests during construction period, which means you would have to comply to their first year 0%, 2nd year BLR-1% and 3rd year BLR+0.1%.

After which, it is up to your power of of negotiation with the banker. However, since you are going for flipping, I would suggest that you negotiate for between 0-3 year lock-in from first draw down (not full drawdown), and zero cost entry loan. This would be ideal.

There are also banks which are fussy and since they know your purpose of purchasing this property, they will insist on a 5 year lock-in period. If you absolutely cannot escape from this, make sure it is 5 year from first draw down with zero cost entry. That way, you have 2 options, to either close one eye and sell it with a bank penalty upon handover (the profit should be good enough for you to ignore the penalty), or to lease out for maximum 2 years (which means 1 tenant only), then only sell after 2 years without penalty.

Whichever bank it is, it does not really matter as long the officer you are liaising with is efficient enough to get you a good loan package and follows through for after service.
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zap



Joined: 15 Jul 2005
Posts: 60

PostPosted: Mon Apr 24, 2006 12:19 pm    Post subject: Reply with quote

...thanks jesale....yes it is difficult finding a bank with 0-3 yr lock-in period....
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ylon



Joined: 03 Mar 2006
Posts: 96

PostPosted: Mon Apr 24, 2006 2:14 pm    Post subject: Reply with quote

thanks. i am starting to look for a suitable bank loan too. This input comes just in time.... Very Happy
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