One of the toughest investment market to break into for youths (although some managed to do it successfully!) is the property market. Two of the major barriers to entry for direct property investment is lack of capital and inability to secure a home loan.
Fortunately for me, I managed to get into the property market earlier this year. This post will be about that.
Talking about property investing in Malaysia, I guess it’s true what people say, handing over ownership from the previous owner to the new owner can take months! In fact, in my case, it was only settled a couple of weeks ago.
I first wanted to hold the property under a company but in Kelantan, if you do just that, you will not be entitled to a freehold title but rather a leasehold title for only 60 years.
I actually intend to rent out the apartment on a nightly basis (something like a guest house) but I think it is a much better idea to rent out the apartment to tenants on a long-term basis. Less problems, less headaches.
Why apartments? Well, I guess it’s because of the cash flow issue. At the present moment, I am more interested in cashflow rather than capital gain.
Anyway, any youths or the young at hearts 😉 out there already made a break in property investing? Do share your experience!
By the way, to anybody who wants to rent an apartment in Kota Bharu, Kelantan, you can contact me! The apartment is fully furnished 😉
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