All Forum Posts by: Jennifer Umbaugh

Hello everyone.  I am looking for anyone willing to share information about the real estate flipping market in Penang, Malaysia. I currently flip Historic Homes in the USA.  I am considering a move to Penang and am trying to determine if I will be able to successfully continue my business in Penang.   Any information would be greatly appreciated.   Jennifer

Hi everyone.  I currently live in the USA and have been flipping Historic Homes.  I am considering a move to Penang. I would love to be able to continue my flipping business in Malaysia. Is anyone willing to talk to me about the Penang market and generalities about opportunities?   I hope to hear from you. Jennifer

I have always asked the seller for his records on rental history and maintenance costs. Sometimes I get it. Sometimes I do not. I explain I cannot fully assess the worth of their property without the information, and it would be in their interest to share the information if they want me to purchase their property. 

We are traveling to Penang in June for three weeks to do just that!  Thanks for your thoughtful reply. Jennifer

You definitely need to sit down with someone in your historical preservation department with a list of questions. I am currently renovating an historical home in Wilmington NC to flip.  BASED ON MY EXPERIENCE they are interested in everything you want to touch on the exterior of the property, including landscaping, lighting, door hardware, shutters, windows, decks and porches, driveways, etc. No way would you be able to get vinyl replacement windows in Wilmington if you have existing wood windows. It is time consuming, expensive, and sometimes frustrating dealing with the historical preservation people. But their role is to preserve the history and thus preserve the value of your property. Sit down with them and tell them what you want to do. They will be very forthright in telling you what you are getting into. 

If I cannot find solid wood doors at local salvage yards (my first choice), Home Depot has been my best bet for a while. I restore historic homes so I keep solid wood doors in my inventory. If you were closer I could probably help you out. Looking forward to hearing from others. 

So true. All the logistics can more than likely be worked out.  Finding the right people is always the big challenge.  Appreciate  the words of encouragement!

Thank you Gentlemen. I sincerely appreciate your thoughts and concerns. I am not moving to Malaysia to flip I am moving to Malaysia to retire. I’m retired here in United States and flip a couple houses a year, mainly historic homes. I enjoy it and have been very successful.  I am hopeful I could continue to do a couple flips a year in Penang.  

Malaysia is an English-speaking country which is one of the things that makes it so attractive.  Foreigners can purchase property in Penang, although there is a minimum price that must be paid to purchase. I am very much in the fact-finding stage of considering undertaking any type of flip in Penang and  I am sure I will learn much more about the feasibility once we are living there. I am simply Reaching out to see if there is anyone actually doing flips in Malaysia.   I sincerely appreciate the postings and would welcome hearing from any others that may have thoughts. All great questions!

I am considering relocating to Penang Malaysia.  I understand there is great opportunity to purchase older condos, rehab them and resell (generally to expats).   is there anyone out there flipping in Penang or Southeast Asia?

I am considering a move to Penang Malaysia.  I understand there is a great opportunity to buy condos, renovate them for sale and resell them ( mainly to expats)  is there anyone out there working in Malaysia or South East Asia?