The Property Outlook 2016: The BLT Perspective event was held at the Everly Hotel in Putrajaya with about 500 attendees on 9th January 2016. A forum on the 2016 market, a networking session and a book launch rounded up the exciting event.
The event kicked off with a short presentation on how the BLT trio coined the Bank_Law _Tax (BLT) concept in property investment – it was actually brainstormed over BLT sandwiches during dinner. This concept serves as the optimal structure that mitigates a property investor’s tax exposure yet enabling enough financing leveraging within the permitted legal framework.
The B in BLT, mortgage expert, Miichael Yeoh, CEO & Founder of GM Training Academy PLT shared sobering facts about where out of 10 home loan applications, only 2 gets approved. Imploring the audience to not subject themselves to chance, he said that the keyword for aspiring property buyers is to ‘take charge’ of your financing needs, begin your mortgage planning before you even go to the bank. He further added that just as how banks carry out a Know Your Customer (KYC) test in evaluating applications, we must carry out our own Know Yourself (KYS) test to ensure that our loan gets approved.
Next up was Chris Tan, Founder & Managing Partner of Chur Associates who shared how the law will be shaping the real estate industry for the next 10 years in Malaysia. Chris commented that, “Reckless investment driven by returns is referred to as ‘gambling’, property investors must carry out a background check on the property they are interested in by conducting sufficient due diligence. Treat your investment as a business, planning is imperative in ensuring positive returns”.
The tax whiz of the group, Richard Oon, Managing Director of ConsulNet Tax Services Sdn Bhd rounded up the talks by expounding on how to navigate the tax minefield in property investment. One point he highlighted was the method of evaluating property investments. He said, “Most people use the Return on Investment (ROI) formula to evaluate their investment potentials. However, many are not aware that interest is not tax-deductible and that ‘Net returns after taxation’ actually provides a more accurate figure”.
Jonathan Adams, General Manager of Marketing for iProperty Group also took the opportunity to share the property market’s facts and figures derived from iProperty’s latest Asian Sentiment Survey.
There was also a property market outlook forum where the BLT trio together with Dennis Tan, Managing Director of Everly Group shared their insights on their outlook for 2016. The forum was moderated by Jonathan Adams.
Lending support to the event were sponsors, Hatten Group Sdn Bhd, IQI Group Holdings, Andaman Property Management Group and Exsim Group of Companies as well as media partners iProperty.com Malaysia and KopiandProperty.com.
The highlight of the day was the launch of the BLT book – ‘Size Up Your Return With Bank Law & Tax’. A few autographed copies were given out during the lucky draw sessions.
Anticipation was high during the much awaited post-event networking session which was graced by 20 ‘BLT Superfriends’.The Superfriends, which included Dr Daniele Gambero, Khalil Adis and Ishmael Ho, Peter Yee, Rozalina Rahim, Faizul Ridzuan took turns to share their investment strategies in 2016.
The event was well-received by those who attended it and the strong crowd proved that despite the projected slowdown in the real estate market, people are still interested in buying properties in Malaysia.