New developments to share

[malpaso]

2M min price coming.?

http://www.starproperty.my/index.ph...imum-price-for-foreign-house-buyers-in-johor/

 

[ginfreely]

Be friendly and talk to all your neighbours when you see them and find out whether anyone has rented out their unit and at what price/s. With that 'rough' guide from real people, next is to go to Malaysia's iProperty and PropertyGuru to do a simple search for units for rent, just key in the name of your development. You can see a range of asking price but don't jump to conclusion when you see some which are very low or very high. I've called many which are very low, including one today which advertised a semi-d for rent at RM6.5k fully furnished and found out that it is a terrace and not a semi-d. Agents always make such mistakes because they advertise many units and they 'copy and paste' details. Some other agents just advertise low price to get callers, he'll tell the caller that the cheap one has been taken and he has another one but the price is higher.

With the range of 'reasonable prices' in mind and canceling out those 'too high' and 'too low' ones. Ask yourself whether you wanna go for lowest price for quick catch, or you wanna add some extras(value add) to your house and ask for the price on the upper end. I did the latter and asked for the higher price. In fact, I have lesser competitors by doing that because many owners are stingy and don't wanna spend a little in advance to attract tenants. They leave their units totally empty with wirings still hanging around and ask for the lowest price which others are asking. End up there are many more like this and you have a big competition. For your info, I rented out my unit at higher price than neighours in just 1 viewing. In fact, my neighbour's bare unit has been advertising for months at RM10k(lower than mine) but still no takers until today. Ask yourself this question, will developers show you bare units with wirings hanging around or beautiful showroom in order to make you interested? Do Not fully furnish your unit, leave that option open to your potential tenants. Install aircons for whole house and turn on the aircons at least 1 hour before viewing. Clean the whole house before viewing. Sweep the garden and clear all fallen leaves and rubbish. It's hard for people to imagine how nice a house can be if you let them view the ugly and dirty sight. Install water heater for all bathrooms. Install simple lightings, don't go for hanging types because everyone like different style. Your house is a product which you are 'selling' to your potential client. See yourself as an entrepreneur and differentiate your product from your competitors by spending some money first(business capital).

Congrats! Can share how many months of advertising it took you to rent out your unit?

 

[whoami]

2M min price coming.?

http://www.starproperty.my/index.ph...imum-price-for-foreign-house-buyers-in-johor/

So much land available. Seow si bo?

 

[ginfreely]

So much land available. Seow si bo?

Just outright ban foreigners from buying and selling lah, the most effective solution once and for all...

 

[whoami]

Just outright ban foreigners from buying and selling lah, the most effective solution once and for all...

Want to add revenue to their coffers also must use some brain ya. Sounds very discouraging indeed.

 

[whoami]

There is a harbour and according to the schedule there are trips to Harbourfront from PH but I lost interest in it as its pretty pricey and also a very long ride. Not viable for daily commuters.

Yes. I was tere few mths back. Doubt the response would be good. Unless more amenities at PH. Maybe years to come..

 

[hemohemo]

There were a few discussions earlier about renting out houses. From IRAS website, for an investment property being rented out, interest from mortgage installment can be deducted from the rental income. Does this apply to a property in foreign country? Anyone can share your experience about reporting rental income from other country and claiming interest payment?

 

[whoami]

Was told by my GP Malaysian docs can only work in Sg hospitals but not allowed to set up private practice here. Vice versa for Sg doctors too.

Those i met worked in SGH....

 

[nusaduta]

From my understanding, you can claim the interest deduction against your corresponding rental income in Malaysia. But don't think you can claim that again in SG as the rental income is not from SG

You can get more info from Malaysian tax authority at www.hasil.gov.my

There were a few discussions earlier about renting out houses. From IRAS website, for an investment property being rented out, interest from mortgage installment can be deducted from the rental income. Does this apply to a property in foreign country? Anyone can share your experience about reporting rental income from other country and claiming interest payment?

 

[malpaso]

There were a few discussions earlier about renting out houses. From IRAS website, for an investment property being rented out, interest from mortgage installment can be deducted from the rental income. Does this apply to a property in foreign country? Anyone can share your experience about reporting rental income from other country and claiming interest payment?

1. Rental income from foreign property is exempted unless it is incidental to your singapore employment. http://iras.gov.sg/irasHome/page04.aspx?id=2780

2. Interest payment can only be deducted from the rental income of the property that was purchased using the same mortgage. "The rental expense must be incurred solely for the purpose of producing the rental income".

http://www.iras.gov.sg/irashome/page04.aspx?id=160

so, logically: 1+ 2 = no you can't.

 

[Investor]

Congrats! Can share how many months of advertising it took you to rent out your unit?

Hi Ginfreely, thank you.

I was really very very lucky. I took my time(few months) to get my house done up with basics and a little extra which other landlords don't do

1st Oct - Messaged an agent I know and informed him that my unit is ready to rent out.
7th Oct - He replied saying that he has found a potential tenant.
9th Oct - They viewed my unit and another 4 units in both EL and HH. Mine is the highest price
10th Oct - Agent replied saying that they chose my unit and want a second viewing.
11th Oct - Second viewing and confirmed my unit at a slight discount from my asking price.

Took me just 11 days and tenanted to 1st viewer of my house. My neighbor who was asking for around the same price as mine advertised for a few months before getting his tenant in the same week I did.

 

[RedsYNWA]

You made it sound like you're the only honest person in this world who mean well.
Your first sentence = what others say are all doubtful, all are liars.
Your second sentence = You're the only angel in this world who is kind and won't lie.

The question is - If there is a honest 'you' in this world, can't there be others like you? Or do you really think you're the only honest one in this world?

听者有意. I will just leave it at that. Got a lot of things to do tml....

 

[malpaso]

听者有意. I will just leave it at that. Got a lot of things to do tml....

i think you're a genuine nice guy, bro. keep sharing, the forum is for open discussion!

 

[cow138]

Hi. Just to check is therea clamp down in the loan quantum that we can borrow from the banks.

Heard that foreigners can now only borrow up to 70 percent.
That's pretty unusual? Only heard that no DIBS but didn't hear that the loan quantum dropped as well.

Did I miss this in the budget announcement?

 

[Funniman]

Hi. Just to check is therea clamp down in the loan quantum that we can borrow from the banks.

Heard that foreigners can now only borrow up to 70 percent.
That's pretty unusual? Only heard that no DIBS but didn't hear that the loan quantum dropped as well.

Did I miss this in the budget announcement?

In Malaysia, it is already a standard loan margin of maximum 70% if you have 2 or more property loans. I am sure the bankers double check across the border on the status of Singaporean borrowers. Loan applications also subjected to LTV and based on nett take home pay, meaning that your credit cards, car loans or personal loans are taken into account.

 

[Frodo]

In Malaysia, it is already a standard loan margin of maximum 70% if you have 2 or more property loans. I am sure the bankers double check across the border on the status of Singaporean borrowers. Loan applications also subjected to LTV and based on nett take home pay, meaning that your credit cards, car loans or personal loans are taken into account.

Must give them your credit bureau rating report. If first property getting at least 80% should not be a problem.

 

[cow138]

What is credit bureau rating report?

Issit something that we must provide? Thought only income statement required?

 

[Legolad]

What is credit bureau rating report?

Issit something that we must provide? Thought only income statement required?

Go to this website:
http://www.creditbureau.com.sg/

The cost of the CBS report is now $6.
Click on the button on the right -"Get your Credit Report"
Use your SingPass to get a copy of the report.

 

[malpaso]

What is credit bureau rating report?

Issit something that we must provide? Thought only income statement required?

if they don't ask, no need. when i apply loan, only one bank ask for it. guess which one?

 

[Funniman]

if they don't ask, no need. when i apply loan, only one bank ask for it. guess which one?

If they don't ask, they will do the search themselves. Even if you give them a copy, they will still do it officially themselves.
CCRIS and CTOS (both Malaysian)reports are SOPs of bank loan processing.