Thread: Kost wanted to purchase around Jimbaran / Bukit .

As the thread title states we are looking to purchase ( yes, my wife and children are Indonesian ) a Kost of approx 10-20 rooms in the area.

Must be in good condition preferably with a bit of spare land and would prefer to deal direct with the owner. Am in Bali for Christmas and will be making decisions then.

Email gtrken < @ > hotmail.com with what you have .

Remove the < > from the email address as it there to stop Bots.

Cheers
Ken

I have seen a few advertised, try Rumah123 and bali property info.
Most were in reasonable condition, and usualy about 10 rooms. Good luck

Thanks Goldminer and have tried all of those plus a few ( quite a few ) more.

Am in Bali atm and have looked at over 10 Kosts so far ranging from near new to require Butuh Denovasi ( which is a term I coined as past Butuh Renovasi ).

Prices range from ridiculous to out of this world and that is without half of them knowing a bule was involved .
Seems they all think a return on investment of 2-3% is a good thing and look at the value of what it will be worth in 2-3-5 years.

Some of the ones I have seen wouldn't last that long ! Noone here has heard of the global financial crisis and all think there land/building value will double every 2-3 years.

May have to go back to plan A and talk to a builder about putting something on my land . Populaire, where are youuuu !!

As a note it is amazing how everyone is an agent and knows someone who has one for sale. I have been offered the same Kost by 3 different agents ( one who was cheeky enough to say contact the other agent for viewing but still wanted the commission ) and the price for same Kost has varied by 200 Juta.

Will keep looking but I think that bargain buy is going to elude me .

Cheers
from bali
Ken

I think also when you do finally get a kos, being able to handle the tenants will be a problem, unless you are in the background. Most of the kos i have seen are full of indos, not suprising.
If they see a bule owner they might see an oppurtunity to get free/cheap rent etc. You will need to be on your game

Hi Ken,

We're still about. How's the process going?

Be very cautious with renovations, you rarely know what you're getting. If you get an existing structure at the right price, you'd probably be best kicking off a new "finishings" project, rather than a "renovation" as such, utilizing the existing structure, assuming it's sound.

All the best,

Populaire..

Hi Ken - without getting invoved in any politics , nor will I comment on them either ..., other than to state what I have come to familarize with the local feelings regarding their investment , and the perhaps some theorys as to why you were quoted so high ;

- 1 , in the area you are looking at , there has been no finacial global crisis whatsoever , Indonesia has fared well during all this ,and bali has seen record tourism each progresive year ..., even this wet season has seen numbers previously unseen , with tripple the tourists numbers staying on the bukit over last year.

2- the balinese are proud optimists and never pessimists , and they choose to live in the now , so therefore if now is good then itll stay that way ..., and if it doesnt its because the gods wanted it that way .

3- unless they were bankrupt , broke , and destitute and forced to sell ..., their family investment was/is their dream , and adds to their wellbeing and status ..., to sell is reniging on that idea ..., perhaps unless someone were to pay a rediculously high over the top price that they could not refuse - ie; meaning that they can continue on with the original plan and be only much better off than before .

4- a property and building is not just Rupiah , but is also a lot of time and preparation involved which is also seen to them as value .

From friends' experiences of buying kos housing units, you'd be better off buying empty land and building your own from scratch. They are typically of very poor construction, devoid of any damp proofing, and it would cost more to renovate them to a decent standard than to simple build a new one.

Originally Posted by freeman

From friends' experiences of buying kos housing units, you'd be better off buying empty land and building your own from scratch. They are typically of very poor construction, devoid of any damp proofing, and it would cost more to renovate them to a decent standard than to simple build a new one.

I agree. Evan leasing the land is an option. I have a friend currently building one on land he has leased for 10 years. After renting out the rooms he expects to have made his money back after about 2 years. .

Originally Posted by Rangi

I agree. Evan leasing the land is an option. I have a friend currently building one on land he has leased for 10 years. After renting out the rooms he expects to have made his money back after about 2 years. .

50% ROI per year?

Hope your friend has a plan B. This is completely unrealistic.

People bidding for invetors proudly advertise ROI of 11% per year, and even those have the little asterisk and fine print underneath that they really dont want you to read (well they dont even bother with the fine print here, you find out later!)

I personally cant imagine running a kos in Bali (as an expet).

god knows i spent enough time in them laying on the tiles being fed warm beers and listening to the dramas that go on in there. being part of it isnt so bad (even kinda fun), but looking over it all and being responsible for it?

the spats between the tenants, the stolen shoes at the front doors, the boyfriend poaching, the missing handphones, the police raids, the scheming to stall the landlords due payments, the hearltess chickens giggling at the latest person to have lost their marbles and be the newly labelled "orang stress", the kaki lima man coming in and yelling at people for not returning their cutlery, the motorbikes coming and going at all hours, the shady tenants who only ever come out at night and always return before sun-up, the police raids, the roosters running around with no sense of time at all- crowing just for the heck of it, the small rooster city that inevitably springs up as a result of the balinese devotion to the mighty fighting cock, the argueing girls, and oh, the police raids.