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Wednesday, January 1, 2025

Happy New Year 2025!

Happy new year, everyone!

As of January 1st, 2025, our CPF stood at:

S$1,140,637.35.

1.14M44 :)

4M65 on track!


I did Voluntary Housing Refund (VHR) to make the figure looks good. :)


I top up MA, S$4,000, to reach the new ceiling of BHS (S$75,500) for tax relief.


I also top up my ah boy's CPF to make the figure flat at S$70,000 in Special Account.


Happy New Year 2025!



Sunday, December 29, 2024

Another big homerun in year 2024

Year 2024 reflection on equities, properties, etc. 

Equities: Another big homerun in year 2024.



Very good year indeed, 65 sold transaction this year, more than enough to cover all my expenses in year 2024. Nice! I still have S$700,000+ vested in the stock market (US, Hong Kong, Singapore and Malaysia), mostly in blue chips and Singapore's REITs for the good dividend payouts.

Refer to my year 2018 to 2023 results here: JKM Fund: Big homerun in year 2023

Properties: rental hit all time high.
We achieved all-time-high monthly HDB rental of S$4,000 (4-room flat in Jurong East).
HDB rental yield now: 13.52%. The resale HDB flat was fully paid 10 years ago in June 2014.

With the latest market valuation (Jan 2025) from SRX, my resale HDB and Clementi condo both values had gone up S$523,000 in total. Nice but I am not selling any. :)

As for oversea properties in Malaysia, I have SOLD my first Johor property, profit of RM190,000+.
I had increased my second Johor property (SUNWAY condo) rental by 40% for 3 years and I also put the unit for sale now, with my target sale price, the profit shall be around RM175,000+.


Careers: good bonus!
No promotion this year but I had received 9.71% pay increment and 3.41 months bonus. Works had been very smooth since day one I joined in January year 2017. I still work from home 4 days a week since March 2020, very work-life balanced indeed. I am staying here until age 65! :)

My wife had changed new job early this year to a director level, happy for her. She had achieved her dream! We both satisfied with our current careers.


Health: pick up new hobby!

I picked up a new hobby in September 2024. I bought an automatic abs roller, and it is pretty good! You can really see the nice abs curves formed especially. I had rolled 10,800 times this year. It is quite addictive! I also swim 1,550 laps (77.5KM) this year, compared to 2,250 laps last year. This year I also used up company healthcare annual allowances of S$1,800. I went to Ma Guang Tui Na once every month. I treat it like a body massage. :) This is claimable under TCM. Nice! Just utilize it!


Family: ah boy doing very well.

My son did well in PSLE this year, AL 5 M. He can choose any secondary school he wants. Amazing. Although his dad wanted RI but he chose ACS(I) IP. He is going to take IB (International Baccalaureate) in year 5 and 6, not A-level. That's his choice. I respect that. In addition, the government granted him ESIS (Edusave Scholarships for Independent Schools), S$2,400 a year for 6 years, total S$14,400! Nice!
Apparently, the government will give such scholarship to students with PSLE scores of AL 4 and 5 only. My dear boy, please continue to shine at ACS(I). The best is yet to be!



We had family vacation this year March at Taiwan (Taipei, Tai Chung) and December at Japan (Mount Fuji, Karuizawa, Kusatsu). I shall have a simple wrap up travel blog about this Japan trip, as usual. :)

He also followed his mummy's family to Norway and Vietnam right after his PSLE examination (he skipped many school days in October/November!). He went back to my hometown, Sibu in June. He was busy traveling this year!

Fun Facts: COP all-time-high
It is interesting to know this year 2024 PSLE Cut-Off-Point (COP) had reached all-time-high too.

For boys, the number 1 toughest to enter is actually Hwa Chong Institution (HCI) at COP of AL 6 Merit (with Higher Chinese scoring).

The number 2 toughest boys' school are Raffles Institution (RI) and Anglo-Chinese School Independant (ACSI). Both of them are having a COP of AL 6.

It's a very competitive. I like. :)

Year 2025 will be another good year!

Saturday, October 12, 2024

4 years expenses (Honda Civic 1.5 Turbo)

I managed to record down my past 4 years expenses on my new car, Honda Civic 1.5 Turbo in great details. In average, I spent about S$427 per month for the car expenses for the past 4 years.

3 years expenses (Honda Civic 1.5 Turbo) (jkfund.blogspot.com)

4th year expenses:

- Petrol: S$1,861

- All other car expenses: S$2,996

- Car loan (monthly): S$1,306

- Distance traveled: 10,238 KM




Tuesday, October 1, 2024

Q3 2024 Report Card

Exceptional quarter result. Thanks for the marvelous rebound of Hong Kong and China stocks.

Year 2024 surely is going to be my best year, so far.

I still have S$780,000++ vested in the stock market. :)

Say goodbye to Singapore T-bills, say hi to Singapore REITs!

If we are lucky, we can see the fixed Singapore housing loan interest rate of 1.50% again in October next year 2025!



Tuesday, August 27, 2024

I sold my first Johor property !

My first Johor property investment journey ended with profit of RM 190,000 + with an initial investment cost (down payment) of RM 7,840.

What is the ROI, IRR? :) I know can liao!

All sale proceeds will roll into my second Johor property i-flexi loan account, hence there is no foreign currency loss here. By doing so, it also helps to offset my second property loan interest. I received the final balance in my bank account on 27 August 2024. Sweet!

I am able to share the nuggets of information here.

To recap, I bought my first Johor property on 18 February 2012. It is a FREEHOLD 3 bedrooms unit at the second top floor. Key 🔑 was collected in June 2015.

I sold it on 11 December 2023. 


(A) Receivable

I had received RM164,587, from year 2015 to 2024.

(1) Developer late delivery interest.
They were only late for a few days and the penalty was calculated as 10% of SPA purchase price in daily basis. I wish they delayed even further but they were not.

(2) FREE renovation, commission from renovation, and 1 month rental.
To cut the long story short, I found a Johor renovation contractor at social media. I invited him to come over to IMM mall to discuss my business plan. They renovated my unit beautifully for FREE. Then, they rented my unit as showroom for other new owners who just collected the keys to view and sign the renovation package on the spot at my unit. I also got to receive 10% commission from their sales. This was great. There was no time loss. They renovated right after I collected my keys, provided FREE wallpapers at the living hall and master bedroom, false ceilings at the entire unit, day and night curtains, etc. What you see is what you get, hence there were many new owners signed the renovation package right after they saw the quality of my unit renovation.

(3) 1.5 month rental - Airbnb
I met one resident property agent who stayed at my block but different level. He proposed to do Airbnb for my unit, the rental was pretty good RM 3,750 for 1.5 months, but I decided to go for normal tenancy as the location is not near tourist spot and the rental can swing wildly. 

(4) COVID19
It hit my rental badly. I gave rental discount to the tenants as they were locked down in Singapore and no one was staying at my unit and yet they had to continue to pay my rental. Thereafter, the rental market is weak in Johor. The rest is history.


(B) Expenses

Few big expenses to highlight:

(1) I spent RM 12,411 in year 2017 for all my new furnishings. That includes 4x ceilings fans, 2x water heater, 1x 49" inch TV, 1x washer, 1x, fridge, 1x sofa set, 1x dining table set, 1x KING mattress, 1x QUEEN mattress, 1x SINGLE mattress and a FREE coffee table.

(2) We started to pay monthly maintenance fees only in year 2020 as the developer gave 3 years FREE maintenance fees! How nice?

(3) The unit above mine had common toilet leaking and I negotiated with the owner (through management) to get their toilet fixed, I paid RM5,680 for that matter in year 2021.

(4) For my sale unit, I negotiated the agent fees to be 2% and the legal fee was cheaper as the buyer was also using the same lawyer as me. The legal fee was RM3,408. Good price.

(5) There are also typical expenses like: (e.g. year 2024 rates)
- Agent fees, half month rental for one year tenancy.
- Service charge & sinking fund, RM315 monthly x 12
- Quit rent, RM209 a year.
- Fire insurance, RM94.60 a year.
- Cukai harta, RM357, bi-yearly x 2
- Indah water, RM72, bi-yearly x 2 (I always pay first then reimburse from the tenant at year end)

(6) Memorandum of Transfer (MOT) is part of the documentary package that a buyer of a new property (strata or individual title) must sign in order to transfer the ownership of the property from the developer to its new owner. Guess what?! I didn’t pay for MOT and I had made it clear to the new buyer that he has to pay for MOP if he wants the ownership transfer. That helped me to save a good RM8,000+ ! Nice. 

(7) Real Property Gains Tax (RPGT) is not applicable as my disposal was beyond 6th year. Nice.


It took me 8 months to receive the final balance in my bank account and my real estate agent was doing a fantastic job to update me constantly from the lawyer.

Great agent indeed.
You can PM me for her contact.
I will receive referral fee. : )

Below is the 8-months timeline 👇:

That's the end of my NusaHeight investment journey.

I still own a 2 bedrooms unit, 1,087 sq ft, second top floor at 35th level.
It is Sunway Citrine Residences at Sunway Iskandar. 
It was currently rented out to a Sunway International School teacher. 


Some interesting information to share.

I purchased the unit in September 2014 and the keys 🔑 collected on November 3, 2017

I paid RM 0 down payment.
SUNWAY paid me RM5,000 to purchase the unit. : ) 

(A) Receivable

I will receive a total of RM 272,312 by the end of year 2026.

(1) My first tenant loved the place so much that she decided to buy a unit for herself after renting my unit for 13 months. As my unit is at 35th level, the developer gave me a very nice car park location. My first tenant rented my car park lot for RM 100 a month from April 2019 until now. My new tenant is using her car park instead without paying extra. It's about time to increase the car park rental.

(2) COVID 19 hit my Sunway rental as well and I got a Sunway International School teacher as tenant in January 2022. She was on 2 years contract. Thereafter, as the economic improved after COVID 19, I decided to increase the rental by 40%. She agreed and signed a 3 years contract with me until December 2026. I probably will increase the rental again to RM 3,400 once the contract is expired.

(3) I might be the top referral in Sunway Iskandar. I had received total 10x cheques from Sunway, totaling RM34,612 after sharing some portion to the buyer as well. It is a win-win situation.


(B) Expenses
 
The total expenses by December 2026 expected to be RM 89,329.

(1) I spent RM 10,745 on renovation, lights, ceiling fans and water heater. I spent RM7,802 for electrical appliances and furniture, e.g. 48" TV, washer, fridge, dining table set, KING size mattress with bedframe, TV cabinet and coffee table. TOP fees included RM1,200 TNB Electricity Deposit and RM 250 water meter deposit. Sunway gave 1-year FREE maintenance fee.

(2) After 7 years, this unit gave me 0 problem. That tells you about the QUALITY from SUNWAY!
There are also typical expenses like: (e.g. year 2024 rates)
- Agent fees, 1.5 months rental for three years tenancy.
- Service charge & sinking fund, RM451 monthly x 12
- Quit rent, RM134 a year.
- Fire insurance, RM176.75 a year.
- Cukai harta, RM522, bi-yearly x 2
- Indah water, RM72, bi-yearly x 2 (I always pay first then reimburse from the tenant at year end)



Below is the trend of Sunway maintenance fee charges.

The rate had been increased by 7.6% only after 7 years, that's decent increment rate.

I like Sunway initiative last year 2023 to give owner 2 months FREE maintenance if we pay the maintenance fees on time. That's good for people like me who always pay the bill on the first day! :)


 
I am not in a hurry to sell this unit as I had obtained a decent rental all the way until December 2026. 

Nevertheless, if there is a good offer, I will consider too.

By far, this is one of the best units you can find at Sunway Citrine Residences!

Happy New Year 2025!

Happy new year, everyone! As of January 1st, 2025, our CPF stood at: S$1,140,637.35. 1.14M44 :) 4M65 on track! I did Voluntary Housing Refun...