Buying the Tenth Property

Question

Dear Peter,

I am 37 years old and just got married. Over the years, I have accumulated four properties. In 2010, I bought another two shop lots and in 2011, I bought another shop lot.

Recently, I bought a condo unit and an apartment, making it a total of nine properties within the Klang Valley. Actually, I am not sure whether my decision, so far, has been right or wrong. But I did conduct a survey on the respective location and price.

The units that I have bought were at good prices and good locations, except for one unit which has no tenant since I took the keys in 2006.

I am a manager and my income fluctuates between RM10,000 to RM20,000 depending on the incentives and other benefits. Currently, I am looking at another investment.

My questions:

• At my age and with such a commitment or investment – is it healthy?
• I pay an income tax of about RM20,000 per annum. Will I be subject to a tax inquiry or be liable for extra tax payment for buying so many properties?
• If my loan capacity is still able to cope with one or two more units, shall I go for it?

I am in a dilemma after listening to the differing opinions on my situation from my peers.

I need sound advice from someone involved in the real estate industry.

Regards,
Low

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