Tips on Investing Properties In Malaysia
If you are foreigner and plan to invest in a property in Malaysia, here are some tips that you will find useful.
Financing your property
As a foreigner, you are allowed to borrow up to 70%. In most case, the banks are more than willing to finance your purchase of 50% of your property price.
Restriction in Disposing of your property
You are not allowed to sell your property less than 3 years from the date of your purchase.
Number of units you can own in Malaysia
As a foreigner, you are only allowed to own not more than 2 properties. Should you intend to purchase a third property, you will have to appeal to the Foreign Investment Committee and provide a valid reason for the third purchase. There is no guarantee that your appeal will be granted.
Remitting money into Malaysia
If you intend to purchase or have purchased a property in Malaysia, you are allowed to open a bank account to remit your funds from your domicile country for purpose of paying for the property.
Taxation of your property
Should you intend to dispose your property within the 5 years after the date of your acquisition, you will be taxed 30% of the gains only. If you dispose your property after the 6th year of your purchase, you will be taxed on 5%of your gains.
Minimum purchase price allowed to purchase
As a foreigner, you are allowed to purchase a property costing more than Ringgit 150,000. In some states such as Johor, Melaka and Penang, the purchase price of the property must be more than Ringgit 250,000.
Types of properties you are allowed to purchase
You are allowed to purchase residential apartments, condominiums, service apartments and landed properties such as terrace, semi-detached and bungalows.
Fees involved in purchasing a property
You are required to pay legal fees and disbursements for the preparation of the sale and purchase agreement whichis a percentage of the value of the property. Should you plan to take up financing from a bank, you will have to pay legal fees and disbursements for the preparation of the loan documents.
Article Source: http://EzineArticles.com/?expert=Juanita_Chin
Monday, October 5, 2009
Thursday, October 1, 2009
5 Powerful And Fundamental Tips To Kick Start Your Property Investment
If you're thinking on how to start making passive income through property investment, read this 5 powerful which you can surely use to kick start your love journey with property investment today:
1. A Positive and Right Mindset
Having a positive and right mindset are key ingredients towards any venture, don't you think so?
It's the same whether you're trying to make money from any business, or in this case - real estate.
Without a positive and right mindset, it might just hinder or slow down your journey of becoming a successful property investor.
You have to believe in yourself, and that you can do it.
And how far you want to make it, read on...
2. Set a Goal
Every successful entrepreneur sets goals for themselves. It is your blue print to success.
Without a goal, you will not have a direction, let alone the motivation to take action.
You goal for making money from property investment can be how much you would like to make in rental income, capital gains and the time frame that it will take for you to get there. Write it down.
Sounds simple?
In reality, this may be very overwhelming!
Of course, if you have not made a single cent from your property investment, and your goal is to make a million dollar in the next 6 months...well, it can be very scary isn't it?
Well, not that I say it is impossible. It is more of the question of whether you can attain it or not, and whether it is practical or not. So, set yourself a practical and attainable goal.
Next, you need to have the sword and armor to achieve your goal...
3. Educate Yourself
With a goal, and without the tools or means to achieve them... it's like building a castle in the sky. (No pun intended!)
So, if you are not sure where and how to start to start, you better get yourself equipped and educated.
You can learn the skills by attending seminars by property gurus; or you can educate yourself on the nuts and bolts of property investment by reading books or materials written or prepared by successful property investors and gurus. Of course, you can also gain knowledge from audios, videos, courses etc.
The main purpose is to equip yourself with the right information and avoid making costly mistakes before buying your first property.
After all, there's no such thing as the perfect property...
4. The Perfect Property
You see, if we go for perfection in whatever we do, we'll never get started, in anything at all.
So, if you want to get a property which meets your criteria 100%, the perfect score, you can continue to dream on.
It's a fact, there's no perfection. As long as 70% to 80% of your criteria are met, you can consider investing in it.
Whatever score or criteria, please remember to do Your HOMEWORK!
It is very important to get enough information before making your purchase. Avoid buying property on hearsay or on impulse or you might just regret your purchase. Make sure you know all the incidental cost of owning the property before making your investment.
Check to see if there are any potential risks in the surrounding areas that may bring down the value of the property.
See the brochures and advertisements with a critical and objective mind. Verify all the information that is given by the sales staff. Request to see the actual unit.
Do your due diligence before buying. You'll save a lot of heartaches... and of course, you money!
5. The Future Value of Your Property
Are there any upcoming developments that will affect the future value of the property you are investing?
You would want to avoid the too-late syndrom: finding out 'too late' that they are going to build another high-rise building next to yours, or that a sewage plant is planned beside your property, or anything else for that matter which will affect the value of your property.
When in doubt, ask around, especially the existing residents. They'll surely tell you a news or two.
Lastly, I have a confession to make...
If you're thinking you can actually start to invest in properties with the view of making passive income with this 5 tips... I'm sorry.
This is to give you a sufficient foundation to start with. Not to actually show you how to do it step-by-step.
Remember, you still need to get yourself educated. It may be difficult at first, but I'm sure you'll love the journey.
So, start falling in love with making money from property investment today!
Article Source: http://EzineArticles.com/?expert=C_Guan_Soo
Read more...
1. A Positive and Right Mindset
Having a positive and right mindset are key ingredients towards any venture, don't you think so?
It's the same whether you're trying to make money from any business, or in this case - real estate.
Without a positive and right mindset, it might just hinder or slow down your journey of becoming a successful property investor.
You have to believe in yourself, and that you can do it.
And how far you want to make it, read on...
2. Set a Goal
Every successful entrepreneur sets goals for themselves. It is your blue print to success.
Without a goal, you will not have a direction, let alone the motivation to take action.
You goal for making money from property investment can be how much you would like to make in rental income, capital gains and the time frame that it will take for you to get there. Write it down.
Sounds simple?
In reality, this may be very overwhelming!
Of course, if you have not made a single cent from your property investment, and your goal is to make a million dollar in the next 6 months...well, it can be very scary isn't it?
Well, not that I say it is impossible. It is more of the question of whether you can attain it or not, and whether it is practical or not. So, set yourself a practical and attainable goal.
Next, you need to have the sword and armor to achieve your goal...
3. Educate Yourself
With a goal, and without the tools or means to achieve them... it's like building a castle in the sky. (No pun intended!)
So, if you are not sure where and how to start to start, you better get yourself equipped and educated.
You can learn the skills by attending seminars by property gurus; or you can educate yourself on the nuts and bolts of property investment by reading books or materials written or prepared by successful property investors and gurus. Of course, you can also gain knowledge from audios, videos, courses etc.
The main purpose is to equip yourself with the right information and avoid making costly mistakes before buying your first property.
After all, there's no such thing as the perfect property...
4. The Perfect Property
You see, if we go for perfection in whatever we do, we'll never get started, in anything at all.
So, if you want to get a property which meets your criteria 100%, the perfect score, you can continue to dream on.
It's a fact, there's no perfection. As long as 70% to 80% of your criteria are met, you can consider investing in it.
Whatever score or criteria, please remember to do Your HOMEWORK!
It is very important to get enough information before making your purchase. Avoid buying property on hearsay or on impulse or you might just regret your purchase. Make sure you know all the incidental cost of owning the property before making your investment.
Check to see if there are any potential risks in the surrounding areas that may bring down the value of the property.
See the brochures and advertisements with a critical and objective mind. Verify all the information that is given by the sales staff. Request to see the actual unit.
Do your due diligence before buying. You'll save a lot of heartaches... and of course, you money!
5. The Future Value of Your Property
Are there any upcoming developments that will affect the future value of the property you are investing?
You would want to avoid the too-late syndrom: finding out 'too late' that they are going to build another high-rise building next to yours, or that a sewage plant is planned beside your property, or anything else for that matter which will affect the value of your property.
When in doubt, ask around, especially the existing residents. They'll surely tell you a news or two.
Lastly, I have a confession to make...
If you're thinking you can actually start to invest in properties with the view of making passive income with this 5 tips... I'm sorry.
This is to give you a sufficient foundation to start with. Not to actually show you how to do it step-by-step.
Remember, you still need to get yourself educated. It may be difficult at first, but I'm sure you'll love the journey.
So, start falling in love with making money from property investment today!
Article Source: http://EzineArticles.com/?expert=C_Guan_Soo
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