Property News

[Tekkun]

long story cut short...
bought the land thinking to build a factory on it, then can collect rental.
At that time industrial rent was going for something like RM1.20/sf, construction cost was like RM90 to RM100, so 10,000sf build-up would cost something like RM900,000, rental income @RM1.20/sf =RM12,000, thought can recoup the cost in 7 yrs time.
I was too 'hiong', just plunge into it without any research! How naïve I was at that time!!!! Thought making money was so easy like ABC kiam chye char loti!
So somehow kena burnt!
At that time, where go internet, if not can seek advice from virtual friends here, right?

Industrial need holding power over many years. Often more than 10 years. You buy and just leave it in your drawer.
Not for those who want fast money or want to exit quick. Also not for those with borrowed money.

 

[Frodo]

https://sg.yahoo.com/finance/news/no-lack-space-10-million-072020663.html

No lack of space for 10M.

Hmm....but at what cost?

 

[Frodo]

Strange, I guess all your friends are in this forum where all is fine and dandy, outside this circle, I have so far only heard of horror stories from simple theft to huge property value losses.

Is that even true? Do the folks here in this forum really have their heads stuck deep in the sand without knowing that there are horror stories from simple theft to huge property losses? If we conduct a poll of Singaporeans in general, wouldn't they agree that JB is not as safe as Singapore? I think even the locals would agree. But having said that, we are not suffering from paranoia. While not denying the facts, the reality is not as bad as people tend to paint either. No country is immune from petty theft to huge property value loss, including our own Singapore. I have friends who did not step into JB for almost 20 years because of one bad experience, but have just recently been making trips across the Causeway on his own after we brought them to live with us for a couple of days. Their eyes were opened to see that things are not as bad as they perceived but neither do they let their guard down. You make regular weekend stays in JB too, and petty theft does not bother you one bit, right?

 

[kawan2sgmy]

You hit the nail on my head!
This sentence aptly summarised my situation back then: 'You buy and just leave it in your drawer'.
After I bought it, I left it there until one day several years later, I decided to go and take a look at the site to see if the site has turned into a forest!
Indeed it was! I had wanted to hang a banner advertising that the land is for sale and would need some support to hang it. As much as I had guessed it, the plants had become matured trees...

Industrial need holding power over many years. Often more than 10 years. You buy and just leave it in your drawer.
Not for those who want fast money or want to exit quick. Also not for those with borrowed money.

 

[Frodo]

You hit the nail on my head!
This sentence aptly summarised my situation back then: 'You buy and just leave it in your drawer'.
After I bought it, I left it there until one day several years later, I decided to go and take a look at the site to see if the site has turned into a forest!
Indeed it was! I had wanted to hang a banner advertising that the land is for sale and would need some support to hang it. As much as I had guessed it, the plants had become matured trees...

In one sense your land has been "developed"....by nature. :p

 

[Tekkun]

You hit the nail on my head!
This sentence aptly summarised my situation back then: 'You buy and just leave it in your drawer'.
After I bought it, I left it there until one day several years later, I decided to go and take a look at the site to see if the site has turned into a forest!
Indeed it was! I had wanted to hang a banner advertising that the land is for sale and would need some support to hang it. As much as I had guessed it, the plants had become matured trees...

You are lucky you still have a dirt road to your land. LOL
Curiously, how did you buy the land? By just looking at the map?

Just to share my stupidity as well. Long ago, I bought a piece of land near a river.
And I viewed it from a hilltop..pointing it to the forest horizon. Well..I was interested to JV with a friend to have a fish framing.
Dirt cheap and grabbed with both hands. 2 years later, I went to the site, found out the river had cut across my land right in the middle. My land is in the middle of the river. Lost RM50k. Back then 20 years ago, that is a lot of money. :(

Lesson learnt. Never never buy something without going to the site. It is a must to visit.

 

[kawan2sgmy]

You are right!
Luckily we pulled back on the construction, although the plans were ready then.

In one sense your land has been "developed"....by nature. :p

 

[Frodo]

I'm trying to show that there are lots and lots of people happy to live in Singapore. It's not the location or event per se, i.e. National Stadium or National Day. There are people who are living in HDB flats and are happy. Feeling happy does not rely on the amount of wealth you have, the size of house you live in, or the type of car you can afford but in the type of your thoughts you plant in your head.

I still hear bullshit talks and read articles from Malaysian developers, writers and property promoters who say more and more Singaporeans will move to Iskandar because the cost of living is getting too high here. That's the greatest lie ever. The ground sentiments all sound so different.

I've been talking to my colleagues, Singaporeans and Malaysians, my friends outside my work, strangers sometimes, and I've not seen the slightest push to move over. Young graduates will be more than willing to pay S$450-500k to buy their 4-room BTO flats to set up families here. And they are not complaining! They love the convenience, stability, safety and future prospects of living in SG.

No money to buy car then don't buy. Is a car really necessary for you? If no job, then go find one! Make things happen. Running away to JB and making the JC kid suffer having to wake up unearthly hours is not the best solution. If I were the kid and my school grades had to suffer, I'd hate such parents.

I've read great stories of how people overcome adversities over here and make it big -- Peasants who grew up in rented flats but were determined to be rich. Academically slow students who were called "stupid" or "hopeless" by teachers getting quality degrees or even Ph.Ds. Thank goodness they didn't all say, "F*** Singapore, I am going to rent out my HDB flat and flee to Johor for cheaper and bigger housing!"

Do you know the current Chief of Defence Force in SAF had a father who was a taxi-driver and mother as a housewife? He didn't grow up in a privileged environment. But his upbringing allowed him to excel and go to the top secondary school and JC in SG. He then went on to receive the prestigious President's Scholarship. If his parents had said, "Let's move to Johor, F*** this place" we would have lost a good leader. He might have just ended up a peasant like you on his bike every morning to work in SG and back to JB in the evening!

In my view, painting an overly rosy picture of Singapore does not help either.
http://sbr.com.sg/financial-service...ecs-struggle-make-ends-meet-each-month-report

Whether moving over to JB is the best solution or not is really for each person to work out or discover from himself. Sometimes the best solution may not be the preferred solution. One has to adapt and be willing to accept changes, which hopefully will work out for the better in the longer term. My father slogged as a cab driver too, so we were never rich, then and even now. If I am more rich, I would probably drive a car than a bike. But bike works best for me, for now at least. Each person just have to decide for himself what is best for him according to his own considered circumstances and conditions. Be open to explore options, even if those options do not look palatable at first, like moving to JB.

 

[kawan2sgmy]

Ya, lucky to be still alive today in one whole piece, didn't lost an arm or leg, but just poorer and richer in experience, hahaha!
During that time, I had read in the newspapers about people being cheated of their money when they had paid lots of money to middleman for some freehold land, but never got to see the title deeds.
So I decided to buy LH land from JSEDB, thinking it was safer, it's government land, so won't get cheated.
So you know, when young, never think deep deep, thought of myself as very 'kiang' then, just armed with little info.
So that's how I fell into the pit!

You are lucky you still have a dirt road to your land. LOL
Curiously, how did you buy the land? By just looking at the map?

Just to share my stupidity as well. Long ago, I bought a piece of land near a river.
And I viewed it from a hilltop..pointing it to the forest horizon. Well..I was interested to JV with a friend to have a fish framing.
Dirt cheap and grabbed with both hands. 2 years later, I went to the site, found out the river had cut across my land right in the middle. My land is in the middle of the river. Lost RM50k. Back then 20 years ago, that is a lot of money. :(

 

[sgtsk]

Ya, lucky to be still alive today in one whole piece, didn't lost an arm or leg, but just poorer and richer in experience, hahaha!
During that time, I had read in the newspapers about people being cheated of their money when they had paid lots of money to middleman for some freehold land, but never got to see the title deeds.
So I decided to buy LH land from JSEDB, thinking it was safer, it's government land, so won't get cheated.
So you know, when young, never think deep deep, thought of myself as very 'kiang' then, just armed with little info.
So that's how I fell into the pit!

Pardon me for being curious, may I ask what was bad with respect to the piece of land you invested? Is the land still not offering any more values today then the price you paid for ?

 

[snowbird]

long story cut short...
bought the land thinking to build a factory on it, then can collect rental.
At that time industrial rent was going for something like RM1.20/sf, construction cost was like RM90 to RM100, so 10,000sf build-up would cost something like RM900,000, rental income @RM1.20/sf =RM12,000, thought can recoup the cost in 7 yrs time.
I was too 'hiong', just plunge into it without any research! How naïve I was at that time!!!! Thought making money was so easy like ABC kiam chye char loti!
So somehow kena burnt!
At that time, where go internet, if not can seek advice from virtual friends here, right?

Even in today's internet age where anyone can access to current news and latest info anytime, anywhere and your story is still repeated again and again.
People are still as "hiong" and plunge in without due consideration and people still kena burnt.
But instead of industrial buildings it's now condos in Iskandar.
So, blame what now?

 

[kawan2sgmy]

The LH land was bought on 30+30yrs, it will get cheaper and cheaper as the lease runs down. Moreover, have to factor in the exchange rate loss, and also not forgetting the auditor and secretarial fees paid. In M'sia, need to register a sdn bhd company to buy land.

Pardon me for being curious, may I ask what was bad with respect to the piece of land you invested? Is the land still not offering any more values today then the price you paid for ?

 

[xebay11]

Is that even true? Do the folks here in this forum really have their heads stuck deep in the sand without knowing that there are horror stories from simple theft to huge property losses? If we conduct a poll of Singaporeans in general, wouldn't they agree that JB is not as safe as Singapore? I think even the locals would agree. But having said that, we are not suffering from paranoia. While not denying the facts, the reality is not as bad as people tend to paint either. No country is immune from petty theft to huge property value loss, including our own Singapore. I have friends who did not step into JB for almost 20 years because of one bad experience, but have just recently been making trips across the Causeway on his own after we brought them to live with us for a couple of days. Their eyes were opened to see that things are not as bad as they perceived but neither do they let their guard down. You make regular weekend stays in JB too, and petty theft does not bother you one bit, right?

Going on weekends and actually living in Johor are very different things.

 

[kawan2sgmy]

That is why in every economic cycle, there will be some millionaires who will disappear and some newly minted millionaires will rise!

Even in today's internet age where anyone can access to current news and latest info anytime, anywhere and your story is still repeated again and again.
People are still as "hiong" and plunge in without due consideration and people still kena burnt.
But instead of industrial buildings it's now condos in Iskandar.
So, blame what now?

 

[Frodo]

Going on weekends and actually living in Johor are very different things.

Indeed very different! I can surely vouch for that. ;p

 

[snowbird]

Just to share my stupidity as well. Long ago, I bought a piece of land near a river

Lesson learnt. Never never buy something without going to the site. It is a must to visit.

Just visiting the site to take a layman look is not enough.
You need to engage a professional surveyor to confirm the actual boundaries to make sure it tallies with the title deed boundaries, especially if it is a large piece of land with uneven terrain.

 

[Frodo]

No difference I am a Malaysian or not, rich or poor.
It is commendable Frodo took charge of his life instead of waiting for things to happen. Many people in this world dare not.
He took his calculated risks. Win or lose, only he know. He has his own priorities. I am sure even if he loses, he has no regrets. At least he tried.
But so far, he is optismistic and happy with his choice.

I still remember back in 2013 when I was trying my luck with a couple of Singapore banks to obtain a loan for the JB house, thinking that maybe easier for Singaporeansnto obtain loan from SG banks. Found out that they need a guarantor, but no friend, not even rich one, or own blood brother was willing to be a guarantor. So thank God the banks in JB are less particular and I could obtain the bank loans.

 

[Tekkun]

I still remember back in 2013 when I was trying my luck with a couple of Singapore banks to obtain a loan for the JB house, thinking that maybe easier for Singaporeansnto obtain loan from SG banks. Found out that they need a guarantor, but no friend, not even rich one, or own blood brother was willing to be a guarantor. So thank God the banks in JB are less particular and I could obtain the bank loans.

If I may assume.
You did it on your own with your own 2 bare hands, so to speak.
No help financially nor otherwise from anyone, parents, siblings or friends and that what make you proud of your achievements.
And no one has the right to say you did right or wrong. You did it your way.

 

[Investor888]

Actually you are quite right. One has to depend on yourself for sure. My own brother refused to be my guarantor for my first factory in Singapore when I was earning just 2k a month

I still remember back in 2013 when I was trying my luck with a couple of Singapore banks to obtain a loan for the JB house, thinking that maybe easier for Singaporeansnto obtain loan from SG banks. Found out that they need a guarantor, but no friend, not even rich one, or own blood brother was willing to be a guarantor. So thank God the banks in JB are less particular and I could obtain the bank loans.

 

[Frodo]

Actually you are quite right. One has to depend on yourself for sure. My own brother refused to be my guarantor for my first factory in Singapore when I was earning just 2k a month

I can understand the reluctance of being asked to be a guarantor as there are risks involved, unless of course one is a rich person. But even then...anyway my point was that what is impossible in SG can really be boleh in JB!