This week most of my team members are busy with bulk purchased of Pangsapuri Widuri. Total 7 units booked on the Monday night. be Since then, all members proceed to the next step which is sourcing for various bankers to apply best housing loan. Concurrently, team also looking for the best rated lawyer to help us to process the legal part.
Bear in mind that, Pangsapuri Widuri has been under our group radar since August 2014. A lot of due diligent and study done into it. Related post of the study can be read from below:
On top of that, the total numbers of unit the team had viewed before buying into 7 units as bulk is about 30 units. As such, detail due diligent has to be done before committing to buy a property.
In this midweek, one of my good agent send me the below
“800sf apartment. $85k per unit. Owner want to sell 8 units at one shot. Renting to company 1 unit rent rm 600 7 unit rent rm 500 Maintanance fee $ 80/mth”
From the above given information, the rental yield is 7% which is hard to find nowadays.
The Property name is Taman Perai Indah as shown in below picture.
Since I do not have time to do the details study, I passed this information to another team to pursued. One of the member, Jim asked me, what are the information to gather for this study and judge if it is a good buy?
Below are the information that normally I would like to know if the property worth to invest with, I will called it “10 due diligent before commit to buy a property” :
1) What is the market selling for Taman Perai Indah?
2) What is the last transacted price for Taman Perai Indah?
3) What other apartment,condo at surrounding?
4) Compare all the price per square feet for comparison
5) Get the rental yield for each apartment,condo from your analysis
6) Check in detail for location for Taman Perai Indah e.g:
- what is at surrounding
- any future development
- what are the positive can be observed
- what are the negative can be observed, (smell from any factories) etc
7) Check in detail for Taman Perai Indah like:
- title,
- how many blocks,
- who is staying there (majority ethnic)
- vacancy rate by floor, by block etc
8) Need to calculate what is the good price to buy? Can buy with No money down deal?
9) What will be the recommended strategy, buy for cashflow, buy for flip
10) What is the potential profit, future growth etcze your
We will discussed more on each of the due diligent in later portion.
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