Free Lesson on Buying An Auction Property

Many don't really know that buying an auction property is one way of getting a cheap property. But, a lot of homework needs to be done. Today, my blog will cover 2 parts:
1. What all property investors, Milan Doshi, other book writers (related to property) will tell you:

• Look for auction property list in the newspaper/ flyers from auction houses/ auction houses' websites.
• Call the auctioneer to get more details of the property you are interested. Get the POS (Proclamation of Sale) & COS (Conditions of Sale) doc from the auctioneer. Read and understand them. Lookout for the auction date and minimum deposit amount. Usually 5% or 10% in bank draft form.
• Visit the actual property and assess it. Sometimes, the current owner/tenant might be still staying there or the property is totally worn down and might need a lot of money for repair.  
• Goto land office to do a title search. Check for any potential problem. If don't understand you better ask around or ask a lawyer.

2. What Yin Heng will tell you for FREE. No need to buy books. No need to attend seminar.

• Self assess whether you can afford for the property or not. Check with bank how much you can borrow (to avoid surprises). Based on the property price, check with lawyer how much is the estimated legal cost and also stamp duty cost. You might need to spend a quite substantial amount of legal & stamp duty cost especially when the property title is ready to be issued and you are now taking over this property.
• Estimate that the property needs some major repair due to wear out and also potentially previous owner damaging the house due to dissapointment of losing the house.
• If there is an owner/tenant staying in the current property, you might need to pay some money for them to get out. Some might want to save this money and wait until they hire a lawyer and wait for court bailiff to chase them out. BUT, some hidden cost is there; lawyer cost might be a few thousand, lose few months of rental (might drag easily >6mths)   and potentially some "duit kopi" for bailiffs to expedite them to chase the current owner/tenant out from the house.  
• If you can negotiate a win-win solution with existing owner/tenant then it will be better. Only negotiate with civilize people. If the current owner/tenant has a family, chances are they are more willing for negotiation. If gangsters are staying there or the owner is very rude and hard-headed, it is better that you skip this property. There are a lot more auction properties. Be patient.
• Check for the market price of the property by calling owners/property agent of other houses/apartments around that area that is for sale. Call a few and you will know roughly the market price. If you don't mind to spend a few hundred ringgit extra, do a property valuation by hiring professional property valuers. 
• When you goto court/land office or auction houses for bidding, bring extra 2-5% of cash (2-5% of the property auction price) or get them ready in the savings account. Lets say you want to buy an auction property with the starting price of RM200k & the minimum deposit is 10%. If you bring $20K bank draft & your savings account only has few hundred ringgit, then you are in for a trouble. If you successfully bid for the property at a higher price lets say, RM240k, then you need to fork out cash or another bank draft of RM4k. If not, then you will lose the original RM20k deposit and the house will be re-auction again. 
• There are a lot of opportunist who attends property auction sessions. If you attend a few auction sessions, you will see a number of familiar faces. These people are "living leeches". Many do not intend to buy auction properties. Some from their look, you will know they will not be eligible for housing loan. Even ganster look 18 year old teenagers are there. They will brag that they have bought one of the property in that area and is buying another one. They will also make noises that the current property for auction is very cheap and worth it to buy. At the end, they just want to negotiate with serious buyer to pay them some money for them to pull back from bidding for the property. I have seen some serious buyer parted a few k to ensure these leeches pull out from bidding.
• If you can identify serious buyer there, you can negotitate with him/her to find a win-win solution. You might be fortunate enough to become a leech and get some money from there. Don't feel bad about this because you are originally a serious buyer but because you are willing to let the other buyer to get that property for whatever reasons & he/she is willing to compensate you, why not? After all, you incur costs (time, petrol, annual leave and etc) by attending that auction.  
• During the bidding process, know your limit and don't over bid.
• Try to be the first to raise your hand for the first bid. If you are the only serious buyer there, those leeches will "kecut" to outbid you. They might be scared that you will not counter bid them and they will be stucked with that property.

Lantern "Tang Lung"

To Ryan & Darren, lantern festival is a showcase of ultraman/power ranger/batman and those man man. Boys will always be boys. In another few days, the lantern will be plastic scraps due to the legs or heads coming off.....

Edlynn in the rocking chair

Edlynn is 1 month old now. She looks alike her elder brother Ryan.

Edlynn's First Smile

I wonder what made Edlynn smile. Perhaps a sweet dream of daddy caressing mummy's protruding stomach :)....

Baby Edlynn is Here!!

Finally on this day (June 28th, 2010), Edlynn is out from the oven. The labour process took only 1.5hrs. Mom and Edlynn are fine. She breaks the record by weighing 3.85kg. Ryan was about 3.5 and Darren was 3.6kg. Daddy is proud of mom and Edlynn.

World Cup 2010: Low Stamina

	Waka Waka .mp3
	Found at bee mp3 search engine

Waka! waka! My oh my, age is really catching up on me. I used to watch almost all world cup matches without any problem. At 33 now, one night of sleep deprivation, is 3 days continuous yawning in the office. World cup is an event that plays a big part of men's life.
1. I got hooked up with WC at the age of 5 (1982 WC).
2. Broke quite a number of window panes at home for trying different style of super football kick.
3. 1986 WC: Impressed with Maradona. Learned that you can cheat in football and yet win WC. Maradona's famous "hand of God" goal against England.
4. Tried to go into primary school football team but not selected due to "tendang pucuk". Got consolation in joining the school hockey team. Overall Penang primary school champion. Don't play play huh.....
5. Introduced to football betting at the age of 13 during 1990 World Cup. Starts to support Italian team. The most sexiest football team in the world. Btw, I'm not a gay!
6. World Cup 1994: can't score 8As in SPM maybe due to World Cup :)
7. World Cup 1998: was studying at polytechnic Jitra at that time (final semester). Rented a room with an old lady house owner. Luckily she has an old tv that was still functioning. Sneaked out in the middle of the night to watch WC.
8. Regretted that there was no WC event during my university days (1998-2001). Otherwise, I might be able to find a potential future wife who shares the same interest with me :).
8.World cup 2002: Impressed with the Korean team.

9. World cup 2006: Got to know Uncle William Hill. Finally Italy won the WC. Italy won the 1982 WC also but at that time I was not their strong supporter yet. This is the final World Cup where I can watch the WC at any hour and any day. My wife had quite a number of lonely nights without me though :)

10. World Cup 2010: My wife keep on nagging me to put priority on my 2 sons first before watching any matches. By the time I make Ryan and Darren sleep, I'm already dreaming bafana-bafana and miss my 10pm & 2:30am matches. If I do manage to watch the 10pm or 2:30am matches, I still can't have a peace of mind to watch WC due to Ryan keep waking up in the middle of night and cried for my attention. If not because of pacifier missing, it will be pea-pea time.

2014 World Cup PLAN: Send Wife, Ryan, Darren and Edlynn to one month holiday camp in Kota Bharu (my in-law's house) . Subcribe one month facial & spa treatment for my wife at Kota Bharu. Upgrade to Astro Beyond and watch 2014 World Cup peacefully at home. 

Edlynn

Any moment now, my wife is going to deliver our 3rd child. A GIRL! finally. Future shopping in malls will be longer than usual covering both Ultraman & Barbie Doll sections. We plan to name our baby girl Edlynn which means little princess. We already have a little king (Ryan) and a noble man (Darren) at home. Guess all my children will become royals and nobles in future....
Life will be more chaotic once Edlynn is out. Morning & afterwork will be a nightmare due to the needs of dropping and picking her up from the babysitter in Seb Jaya (quite far from my home). A big part of my life is about boys. My parents has 4 sons. My primary school was a 100% boy's school. I tackled a few girls but in the end I only have one to live and deal with :)....
It will be interesting to learn about baby girls. After 4 years of playing (with Ryan & Darren) guns/ultramans/toy cars & crushing them at the end, finally I have a chance to play girlish games with my daughter. Will blog more once Edlynn is out! 

Why Men Want Sex and Women Need Love

I bought this book from MPH online and save 30%. In plain simple language with supporting research data, this book is really good for both men and women to understand the needs of each other and by just making a slight tweak in the way we approach the opposite sex (by understanding their natural behavior & needs), the chances of getting a positive response from the opposite sex will be worthwhile.
A short summary:
1. There is nothing wrong for men for thinking about sex everyday, every hour, every minute. This is a hard-wired/hard-coded needs embedded in their brain for human survival. Basically extending your gene further. The more the better :).
2. There is nothing wrong for women to find a very rich/powerful man (in more appropriate term: a more resourceful man)to be their mate. Men usually label them as "materialistic" BUT this is a hard-wired/hard-coded needs embedded in their brain as in the past female human will need to tend to their offspring and the only way for them & their offspring to survive is to have a resourceful male partner that can find more food. After reading this book, you won't be surprised anymore on why Datuk Michelle Yeoh marries Jean Todt!!!.

One tip for men: Women gets 'excited' more if you help them more in house chores or cook for them!! Good luck!

Animal Rights- continued

Last Friday I went to Cinta Sayang Golf & Country Resort in Sg Petani for Team Building. Personal view: the food was good. We had 2 games; golf & archery. The golf is cool after learning the tips from Tiger Woods of Sg Petani. Not easy to hit the golf ball but once you hit it right, you can feel a sense of high satisfaction. It is like releasing all the energy of work stress onto the golf ball and let if fly away from you. The achery game was so so only.
The most controversial activity that a few of us participated was horse riding. Are we helping the horses (making sure they still have an economic reason to stay alive and out from the barbeque pit) or are we torturing them further? A free horse is the one that can roam freely in the wild. That particular horse that I rode was Zorro. To fulfill my eagerness to try out the feeling of horse-riding, Zorro had to carry me around a full circle of the track on a hot shiny day.


Again, humans are smart: Use the animal as an economic tool to earn money. Give back some percentage to them by giving them a so called "expsensive factory processed food with multiple vitamins and nutrients". Promote to the public that this is a charity to the well being of the animal. If I were Zorro, I'm gonna say "F*** off. I don't need this charity. I was a free a man when I was in the wild". As what mentioned in my last blog, human rights will always surpass animal rights. We might think that setting up a zoo, build more universal studio, or maybe create a hotel for animals only will help to uphold their rights and give them a better life, but in actual fact we are just exploting them further for economic reason.

Animal Rights?

My friends and I were having a discussion on dogs' (so called city pets) well being in Malaysia. Due to religious rules, apartment rules, city rules and blah blah blah, dogs seems to be not well treated in our country. Even importing a certain breed of dogs from oversea is considered a torture to that particular pet due to its physical nature might not suit the hot temp in Malaysia. In that context, putting animals in the zoo would constitute to be 100% animal rights' infringement by human races because zoo is not the original 'home' for these poor animals.
My perspective is that no matter what we do to help protect the animal rights (even if you build a big bungalow for the dogs to stay), human rights will always come first compare to the animal rights. The only way for the dogs to have their rights fully uphold is for them to outsmart human being and to be able to control us.
For billion of years, each living organism (including human) in our planet fight to survive and to increase their population. I wonder who was the boss in this planet when the dinosaurs were still around and human beings might just be the tiny pet at that time or not even smart enough to exist in this planet. The rule at that period of time might be "No humans straying around in the city of jungle. Lock yourself in the cave as long as you can".
So, do animal have rights? Or they are just one of the many living organism in this planet that has no choice but to fulfill our human rights:- the right to own them as slave at home to entertain us or in the zoo to fulfill the curiosity of human beings.
If animals have rights, it should be in the context where they can decide where they want to go and what they want to do at any time without any constraint. Better still, if they are angry to any particular human being, they have the right to bite the ass of that person! In the court of animal, this will be termed self defense :)

2010 CNY Summary

Finally, I'm a able to find some time to update my blog, was lepaking around for few weeks and trouble-shooting numerous wifi connection issues at home & in Kelantan. This year's CNY is a memorable one for myself and my family. On the 30th night (sa chap meh), all my brothers, sister-in-laws, my nephews and niece, my beloved wife and 2 sons and not forgetting my parents were celebrating the 30th night at my home. Almost forgot, my dear litter sister-in-law's sister Genevie was there too.

We had steamboat. More imporantly we had steamboat in an air-conditioned environment!!. No regrets of fitting a ceiling fan right above the the dining table and also an aircon on the wall facing the dining table. Otherwise, all of us will be having steamboat with added aroma from the smell of armpit sweat:). 1st day of CNY:- Nothing special except getting generous ang pows from poor Yin How who is still childless (still having trauma of Ryan punching him and pulling his hair). Oh yeah, for the first time also, we visited my cousin's house (Sin Bee) which is a couple of blocks away from my house (near my former primary school St' Mark). A great reunion indeed when we met Sin Han, Jenny, Sin Dee and their families there. A great pandemonium happened too when little Ryan crushed Sin Bee's model toy into pieces. Unbelievable!! 2nd day to 6th day of CNY:- Drove back to Kelantan. 5 hrs journey (better than 6 hrs previously) after using the highway bypassing Baling. A breathtaking journey with awesome sceneries of green trees and lakes along the way. Kelantan is certainly a no-no place for a merry CNY celebration. You will hardly hear firecrackers exploding. The only consolation for me is to be able to enjoy Kelantan cuisines; Nasi Kukus/ Kerabu/ Dagang. Unfortunate events do happened too when Vshui's grandma fell and had to be hospitalized. Nothing serious but her face was badly swollen. 7th day to 15th day of CNY:- My 2 sons, my wife and myself fell sick. Potential airbone virus infection when we were in Kelantan or human to human virus infection (Vshui's aunt and uncle fell sick after coming back from Kelantan). My dad underwent a successful operation. Mindy fulfilled her wish to goto Bali with her friends, Yin How got his freedom for a couple of days. I myself still carrying a neck-ache and shoulder-ache due to the virus infection. Looking forward for a great Tiger year ahead.

4th Feb: Tiger Year has Begun with a sweat Birthday Treat

4th Feb is the beginning of the Tiger Year for the Chinese Lunar Calendar. Came to work in the morning and had a great workout of carrying up 14kgs of CNY mandarin oranges to the 2nd floor of my office. All my staffs came to PG2.1 building for meeting. Not a usual place but thankfully as if the meeting was not in PG2.1, I would have to carry the 14kgs oranges to another building again.

I had the honour to distribute oranges for my staffs as part of Good Luck gesture to them with the hope that the Tiger year will be a smooth and meaningful year for all of them.

My staff meeting went on as usual and Ta Taa Taaa......soon I realized that I'm now another year older now at 33. My staffs gave me a surprise birthday event (2 days earlier than actual date). Very meaningful and touching. To me, this is a great appreciation and I will definitely cherish this moment for the rest of my life. It is a motivation for me to work harder for my people in the coming days/ months/ years.

Thank you to all Netcomm Team Members. You made my day perfect!!!!

2 Rainbows Up In The Sky

How often do you see 2 Rainbows up in the sky. Magnificent view from Penang Bridge on the way to work.

Leaders Vs Managers

I am playing a dual role of a leader and a manager at workplace now. A good video to emphasize on how should a manager & a leader act at their role at different times.

The Power of a WORD

Lately, in our beloved country, I realized that intellectual maturity of our people is still far behind a develop nation. I will understand if people fight to get food to feed their empty stomach, to fight to stay alive when someone wants to kill you, to fight for equality and bla bla bla....What I can't come into sense is that Malaysians fight to use a WORD which is originated from human being themselves.

Who gives a damn whether the WORD is originated from which religion or race. As long the WORD exists in the society, it should be free to be used by anyone. If other religions across the world wants to use "Ang Kong" (in Hokkien) to reflect their god, go ahead!!!! What is the big deal of it? You talk to your god in your own way and language. I talk to my god in my own way & language. If somehow, you only know how to speak Hokkien, I will be glad to teach you how to refer the god as Ang Kong. Simple as that.......

In future, I foresee people will start submitting IP (Intellectual Property) protection for every WORD that they think it belongs to them.

Happy Birthday to my Brother How

Happy Birthday brother! A year older now. Didn't get you anything as like previous years :). Sorry for forgetting your birthday too. Owe you a dinner for this....