2003. I have several lovely clients from Malaysia who’ve bought and sold a few investment properties through me. One of them refers an equally delightful man to me and I eventually receive an email from him.
Hapless (I use that word a fair bit I guess but it’s such a good descriptor) fellow was “stitched” into buying an Apartment “Off the Plan” and settled in 1998 or thereabouts.
The “deal” included a Rental Guarantee of 7% per annum on his $299,000.00 purchase price for the first two years, rising to 8% for years 3 and 4. From Year 5 the rent reverted to market return.