Singing Pig

Hi,

I'm looking to buy a travellers - any sellers in here?

BlueIce

 

This is an interesting thread. So thank you for contributing.

A couple of things.

1. The rental contracts are initially 2 years then there is an opt out. What do your lawyers say about this?

2. I spoke to the director of the banyan curve, port dickson http://www.goldbergglobal.com/Malaysia.html about this area compared to Port Dickson, and why the 3rd Palm sold so quick, I think it is down to marketing. Port Dickson is better known tourist area and each unit has its own pool. So it is a better product. The rental contracts are from 3 to 13 years with the Legends Group who have a good track record.

3. Dealing with the developer is a pleasure, they are professional, the royal highness of Malaysia visited and endorsed the project, you can not get higher. so why is everyone gone to 3rd Palm. I know of some English guys who sold 80 units to people in Dubai, investment clubs. Because the Palm looked like the Palm in Dubai perhaps!  Good for the sellers.

4. This project has some backing from the government at some level is it for rentals, and there is zero renewal payment on the lease. Banyan is 25% of the cost in 99 years. Come on in 99 years will the water chalets still be 5 star. I dont think that people will rent a Water Chalet in 100 years they will be on to other things. And the whole property legal system may change by then again.

We sell and market the banyan curve which is a good development. Notes about Malaysia slowing down maybe because of the proposal in legal changes with new president. On the upside, we have had people phone us to rent out units for months in Port Dickson, because there is nothing to rent! So the free market works. People want to rent these and they are not government backed.

Email me or PM if we can help. We believe in this development, there are hard rock cafes in locality and close to KL international airport, a good developer, royal endorsement. Biggest development of its kind in Malaysia. Phase 2 last phase of water chalets.

 Thank you for reading.

I may release my travellers in the short term, very exciting development but i've stretched myself recently with other investments so something may have to give. I've also secured a unit at Banyan Curve, not a prestigious as the Palm but more established and delivering returns to those who invested in phase one.

 Any know if there are restrictions on selling in Malaysia in the first three years?

 Cheers

YeboC

Always murky and one of the most polluted and ship populated seas in the world from the few minutes googling I did....

 Shame looked like a good investment from the figures and location.... next!

moneywhore:

Always murky and one of the most polluted and ship populated seas in the world from the few minutes googling I did....

 Shame looked like a good investment from the figures and location.... next!

NEXT ! But where? I struggle to find a development that I can get into early ( phase 1 pre release ) to make the venture look very nice, money wise.

How are folks getting to know about these development, and buy into them at such an early stage that once construction starts, or planning permission is granted that money is made and the smiles on peoples faces grow.

Cheers

Adrian

Is anyone having issues with the Mortgage been offered to finance the development?

I am still waiting for mine (8 Months) but have heard some rather disturbing stories obout what other investors think of the offer that has been made to them.

We are liable for 1.5% of the Mortgage value in fees and I also believe there might be a early repayment penalty too. I am not sure what the interest rates been offered are?

I am thinking of the possibility of funding this purchase (which I still think is good) through a UK based Mortgage. Thoughts?
 

Hi Yogi,

I finally got my letter of offer through in Feb - but the loan amount was not correct! Having gone back and forth I am awaiting the 4th letter which I am hoping to sign in the next few weeks. This is With Scotia Bank. The 1.5% fees can be put onto the loan - which is what I have done.

Can I ask about what you have heard from other investors? Is there a forum where other investors are on?

Cheers

Will