Jan Leow's Press Blog

Income from property rental

The progress of readying my Condominium in Bukit Jalil for rental has been going on for long enough! These are the risk we have to take if we were to explore the various avenues of creating income. Going into budget overruns and extended renovation time sure really suck your cash flow.

Fortunately for me, I still have sufficient reserves. But I have to keep track of the expenses, because the longer the delay, the more I have to spend. That’s why timing is crucial; being behind schedule makes it tough for my pocket.

Let’s see the current situation, the walls has been repainted nicely. No choice about it since making the cornice has messed up the wall. I was hoping to avoid painting the wall to save cost, but with such dirty looking features, I’m sure I would not be able to command and attract a better price for my condo rental.

My wife has decided to do concrete kitchen table because it is more lasting than the wooden top. Considering that most tenant wouldn’t really care to look after your apartment unit anyway. So this will cost extra, but will be very lasting in the long term. I certainly hope so!

There were some hiccup with the iron grill; the kitchen section really looked ugly! Can’t be helped. Wrong instruction. Had to live with it.

Alan, our long time electrical contractor had his fair share of mishap. While he was installing somebody else’s condo unit in another place, his pickup truck was stolen! It really depresses him. Sure his pickup was old and probably didn’t worth much in the black market, but the equipment inside his pickup, though not valuable in monetary terms, is very valuable to him because it is his livelihood.

Now he has to zip around in his car instead, which limits the amount of equipment he could carry. On top of that, he has to obtain new power tools to get his job done. And what about the ordering of his new pickup? Sorry, waiting period because of no stock available. Them the breaks!

Well, he still manages to install our air-conditioner unit, lights and fixtures. But he will still need to make some additional trips because it was not complete.

Well this is still small matter because my kitchen cabinet is still not fixed up yet!

And the cash flow? Terrible! Because the unit is not rented out yet, everything is outgoing; thus making last couple of months and perhaps even the couple of months to come, my cash position will be in a bad shape.

Today I checked with the bank for extension of term loan repayment from 20 years to the maximum allowed of 27 years based on my age, hardly makes a dent in reducing the monthly repayment amount. Well, have to think about this later on how to manage the cash flow.

Sheesh, no one said starting your own business would be easy. That’s why many lack the courage to start one, even on a part-time basis. Because they can’t bear the stress, the pain of pushing themselves to achieve something. It feels exhilarating and at the same time the feeling of dread, of what if it didn’t work out the way you plan it?

Really, I pray real hard about it and hope that He would bless me somehow. Afterall, no income, no tithes. But I can’t bargain with God because He is still numero uno on whether to let me learn a thing or two and give me a hard time or He could just simply easily bless you, but you will not learn anything out from it.

Here’s hoping all the best!

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