This book is an eye opener for me as it made me understand the difference between assets and liabilities. It teaches us to increase our financial literacy. A lot of adults make wrong financial decision due to lack of financial knowledge and never been taught at school on personal finance.
This book triggered me to read other books on investment.
rich dad poor dad
Manage Effectively Own Personal Finance Before Investing
Rich Dad Poor Dad made me wants to invest in real estate and stocks. However, I didn’t start investing directly as I think I need to manage well first my personal finance and to have the right behaviour to become financially free.
1. The Millionaire Next Door – Thomas J Stanley
The Millionaire Next Door is based on real survey on millionaire. It concludes most millionaire doesn’t spend their money extravagantly. They are frugal! I adopts few of behavior of millionaire into my lifestyle. Example, before reading this I was driving expensive car, now I just drive small non expensive but reliable that is no loan on it!.
the millionaire next door
2. Total Money Make Over – Dave Ramsey
Total Money Make Over, push me further on handling my personal finance. No debt and have emergency fund for rainy days. Only then start investing aggressively.
total money makeover
Investing In Real Estates
After I have my monthly budget, settle off certain of my debts. I started to invest in real estate. I scout around a lot of properties, evaluate based on given tips, add my on way of evaluation. Do the ROI calculation etc. I do that based on below books.
1. The Weekend Millionaire’s Secrets To Investing in Real Estate – Mike Summey & Roger Dawson
It taught me how to invest in real estate, how to come out with a deal and at same time how to negotiate. The steps mentioned are clear, pragmatic and realistic but of course not all can be applied in Malaysia. I read lots of property investment books this is one of my top choices.
the weekend millionaire secrets to investing in real estate
2. How You Can Become A Multi Millionaire Real Estate Investor!
I read this book to understand what is the cost of legal fee on Sales & Purchase agreement, loan agreement and others where it is applicable in Malaysian properties investment. It taught me how to understand the process as well.
how you can become a multi millionaire real estate investor
We started sending our kids to pre school starting age of 5 years. Selection of school are based on syllabus or activities which are balance between education, social skills and creativity development.
Since they went for kindy for 5 days a week, normally we will sent them to a play area during weekend and swimming class. (more to surviving skills)
At age 6-7, we sent both to music classes, which enrolled our daughter for Electone class while son went for drum class.
Our daughter only last for 1 year half and decided not to pursue anymore. As we observed that she likes to climb and jumping then we sent her for a gymnastic class. Seems that she is happy jumping, cartwheel, forward roll, front flips … we let her continue doing;
Estimate monthly rental value of targeted tenants.
Derive properties price suitable for the targeted tenants.
To achieve the studies objectives, I need to have facts on
Number of households in Malaysia and specifically for Selangor as I invests mostly in Selangor.
Estimated income level of each household
Malaysia Income Level
Malaysia households are categorized into three major income groups.
B40 – or bottom 40% with median income of RM3,000 (Y2016)
M40 – or middle 40% with median income of RM6,275 (Y2016)
T20 – or top 20% with median income of RM13,148 (Y2016)
malaysia household b40 m40 t20 household income
Number of Household In Malaysia
In 2010, number of household is around 6.35 millions. Lets say I estimate by 2018 the number of household is around 10 millions.
In 2016, 19.9% Malaysian population resides in Selangor. Hence number of households in Selangor is 10 millions x 19.9% = 1.99 millions.
malaysia number of householdmalaysia population distribution
Rental Affordability for Each Household Group & Targeted Property Price
Assumptions:
All household group only willing to spend one third of their income for rental.
Property price is estimated based on monthly loan equal to monthly rental affordability and calculated based on 4.5% interest, for 30 years tenure and with 10% deposit.
No
Household Group
Median Income (RM)
Malaysia Total Number
Selangor Total Number
Rental Affordabilty (RM)
Property Price (RM)
1
B40
3,000
4,000,000
800,000
1,000
220,000
2
M40
6,275
4,000,000
800,000
2,100
460,000
3
T20
13,148
2,000,000
200,000
4,400
900,000
Conclusions:
I target mostly to B40 household group. Hence, I need to purchase properties within RM220,000 range.
I don’t target M40 or T20 as they can afford to buy they own house, hence vacancy rate will be higher than targeting B40.
I installed Chitika ads at my website www.ikatankasih.my. I didn’t realize I tried it from April 2017 till June 2018. Unfortunately it doesn’t bring any income during that period.
It might be due to lack of hits from my websites. On average my website clicks from Google Search is around 380.
Windmill Upon Hills is a freehold condominium located at Genting Highland, Pahang. Specifically it is located at Genting Permai near Petron and Starbucks.
Below are pictures that I compiled from February 2017 till August 2019.
Updated till August 2019.
Target completion is October 2019.
(sources from Windmill Upon Hills Facebook & others)
Please join owner Windmill Upon Hills Telegram Group Chat
windmill upon hills genting residents lobby @ august 2019
windmill upon hill genting jacuzzi @ august 2019windmill upon hill level 9 facilities @ august 2019windmill upon hill level 9 facilities @ august 2019windmill upon hill level 9 facilities @ august 2019windmill upon hill level 9 facilities @ august 2019windmill upon hill level 9 facilities @ august 2019
windmill upon hills progress 21 june 2019windmill upon hills progress 21 june 2019windmill upon hills progress 21 june 2019windmill upon hills progress 21 june 2019windmill upon hills progress 21 june 2019windmill upon hills progress 21 june 2019windmill upon hills progress 21 june 2019windmill upon hills progress 21 june 2019windmill upon hills progress 21 june 2019windmill upon hills wb 27 unit progress – 25 april 2019windmill upon hills wb 27 unit progress – 25 april 2019windmill upon hills wb 27 unit progress – 25 april 2019windmill upon hills wb 27 unit progress – 25 april 2019windmill upon hills wb 27 unit progress – 25 april 2019windmill upon hills wb 27 unit progress – 25 april 2019windmill upon hills wb 27 unit progress – 25 april 2019windmill upon hills wb 27 unit progress – 25 april 2019windmill upon hills wb 27 unit progress – 25 april 2019windmill upon hills genting common area – 25 april 2019windmill upon hills genting common area – 25 april 2019windmill upon hills genting common area – 25 april 2019windmill upon hills genting common area – 25 april 2019windmill upon hills genting common area – 25 april 2019windmill upon hill 16 april 2019windmill upon hill 16 april 2019windmill upon hill 16 april 2019windmill upon hill 16 april 2019windmill upon hills progress 13 april 2019windmill upon hills genting progress 22 march 2019windmill upon hills genting progress 22 march 2019windmill upon hills genting progress 22 march 2019windmill upon hills genting progress 22 march 2019windmill upon hills genting highland march 2019windmill upon hills genting highland march 2019windmill upon hills genting highland march 2019windmill upon hills genting highland march 2019windmill upon hills genting highland march 2019windmill upon hills progress 17 february 2019
windmill upon hills progress 17 february 2019windmill upon hills progress 24 january 2019
windmill upon hills progress 24 january 2019 – 2windmill upon hills progress 24 january 2019windmill upon hill progress 22nd December 2018
windmill upon hills progress 14th November 2018
windmill upon hills progress 14th November 2018 roof top
windmill upon hills progress 27 oct 2018
windmill upon hills genting permai progress september 2018
windmill upon hills genting permai progress september 2018
windmill upon hills genting permai progress september 2018
This year our maid going to enter her 9th years working as a maid for us. Having her really helps our daily life. Our main concern are mainly to have someone trusted to take care of our children while we working.
We came to know that in 2018 government released new rules ~ which every odd year maid permit renewal need to do health check through Fomema. Then can proceed with permit renewal. We just knew of that rules like less than 2 months from expiry … agak panic and kelam kabut dibuatnya especially me… the wife.
fomema rules
I read lots of negative comments in fomema fb for period of Jan – Mar of year 2018. Complaints on the systems, response time and pending password. I decided to asked within my kids – parents Whatsapp group for any of other mommies experience to share. To my surprise feedback is good and some of them just knew of that rules – (credit to me for the announcements)
Step 1
Registered online for Fomema at https://portal.fomema.my/
Make sure passport expiry must exceed than next renewal permit expiry date (if not you need to renew passport first before can proceed with immigration)
Validity for Fomema results is within 30 days for you to proceed with immigration within the validity period.
Iklan
Step 2
after registered i immediately received email for registration ID to proceed with registration.
We need to put details of maid and employer as per passport details.
Choose panel clinic neared to you.
Made payment online via FPX totaling of RM191.00 to Fomema Sdn Bhd.
Print check up slip (consists of slip for clinics, lab, xray and employer)
Step 3
Bring maid to panel clinics registered together with passport and fomema slip.
clinic staff informed results will come out within 3-10 working days.
my case Day 5 ~ fomema results released – Suitable, please proceed to immigration.
Step 4
register myeg at https://www.myeg.com.my/
Been using their services for past years especially for road tax and maid permit renewal.
make online payment amounting RM610 (inclusive of pass charge, visa charge, levy charge and process charge).
as informed by MYEG staffs – their process will take around 2 weeks and i can choose:
collect at MYEG delivery services (‘named’ employer or representative with letter authorization and passport) – cause they need employer thumb print upon rendering the permit sticker.
delivery guy to send directly to ‘named’ employer door steps.
I have been a landlord since 2008. It has been 10 years now. Based on my own experience, there are few type of tenants.
Tenants can break or make your life easy. Therefore, it is crucial to screen tenant carefully.
So I came out with my own guidelines to screen my tenants. I made mistakes at the beginning because I want so bad to have my unit occupied and money flowing in.
Based on my bad experience, I would rather leave my unit vacant till I ll get the good one.
Below are my guidelines based on my experience. Other landlords might have different views. I don’t suggest anyone to follow blindly my guidelines.
Few criteria to be considered:
Household Type
Attitude
Appearance
Financial Strength
1. Household Type
Household Type \
Factors
Family with Young Kids
Family No Kids
Single Alone
Together with Friends (Men)
Period of stay
2 - 4 years
2 - 4 years
3 - 4 years
1 - 2 years
Rental income
Sustainable
Sustainable
Sustainable
Ask for discount if one of members leave and no replacement
Pay on time
Yes
Yes
Yes
No if suddenly one of members leaves
House conditions
Graffiti on wall
Clean
Clean
Dirty
Complaints
Sometimes
Sometimes
Sometimes
Sometimes
Utilities are paid?
Yes
Yes
Yes
Need to monitor and inform
Person in charge
Remain the same
Remain the same
Remain the same
Keep changing
Recommended
Yes
Yes
Yes
No
2. Attitude
Ensure tenants are soft spoken, not demanding or not complaining so much on the house. Example saying the house has so much dust (even in actual fact no). If not, if they become your tenants, they will make your life miserable by complaining a lot.
3. Appearance
Appearance is important to check whether the tenants will take care of your unit or no.
You can check whether their hair is well trimmed, taken care off. Their shirts are ironed. Besides, if can meet them near their car would be good. You can see whether their car is a mess or not.
4. Financial Strength
You can check this one easily by asking for deposit. If they negotiate please raise the red flag.
Please also try to dig where do they work to check sustainability of their income.
If you are Malaysian and never been to Sabah …. rugi wooo… you should buy ticket now.
A lot of places for you to visit there especially pada sesiapa yang suka pada nature (alam semulajadi) – here is the right place for you to go. I’ve been to KK if not mistaken dah 6 kali.
so this one in 2018, i share with you a bit of photos of places that we went;
MARI-MARI CULTURAL VILLAGE – Inanam
We went there just to do sight seeing of the waterfall / river and tak bawa any extra clothes.
Bila dah sampai menyesal la pulak sebab kids nak mandi, – since they all consider not yet teenage so mandi dengan apa pakaian yang ada. We lepak for less than an hour jadilah. So kalau nak datang sini kena plan betul-betul. Bawah ni ada map so u can see what they have there;
Map Mari-Mari Cultural Villageriver
http://marimariculturalvillage.com
NEXUS RESORT & HOTEL KARAMBUNAI
Here the second time we stay at Karambunai, first time in year 2016 we stayed at Rasa Ria Resort & Spa (http://www.shangri-la.com/kotakinabalu/rasariaresort/) nice place to stay also (next time will share on this). Back to Nexus ya;
Road to Hotel entrance along the Golf course areaalso there habitat for families of big biawak’
