Flipping in Penang Malaysia

[Jennifer Umbaugh]

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?

[Satha Palani]

I am a Malaysian living in the United States . Started investing in Malaysia before I moved here and own a few rental units on KualaLumpur the capital. Not too familiar with Penang myself but my brother owns a few rental units on the island. He tells me real estate prices are at their all time peak with lots and lots of new construction.
Prices seem to be out of sync with the local earning capacity as well which to me is a strong indication of speculation.
I was around when the economy driven largely by a unchecked construction boom crashed in 97.It was not pretty.
Not trying to scare you, just advising caution.
Best of luck.