Today received this email massage:
-Location about 100metre to Prangin Mall/Komtar. -40x90 SF -2 storey -Already approved by government to expand built up to 5 storey with architecture plan. -Government approved bird farm. -Started since 2005 till now, can harvest minimum 200 nests in every 45 days. -Just beside of Penang Chinese Morning Market ( Pasar Pagi). -Very high potential to do Pharmacy / Chinese Medicine businese. -Sale for RM 1.7 mil ( negotiable ) .
Is this a good buy?
I for one will not touch this due to the following points:
1) Price is a bid too high and only two storey high building. I wud go, if I have the extra cash at 600,000 only.
2) It has only 200 nests after 3 years and located in the middle of the town.
3) For 200 nest this is estimated to be just 1.7 kilo and in value is 1.7 X 4,000 = 6,800 per 45 days. Your cost to buy is 1.7 million which is a bit steep.
I believe there are many more better choices around and I am sure with 1.7 million I can buy at 5 to 6 units of birdhouses in the northern territory.
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