Real Estate Investment

[london]

^^ pwede rin kasi kyo ireklamo niyan sa bir mismo. sabihin lang nila na nagpaparent kayo but di nag iissue ng OR e lagot na. may kilala akong ganito. place sa new manila, pinaparent walang OR. nagkairingan, sumbong sa BIR, ayun damay pati ibang biz niya. long term tenant niya pa to ha.

kahit gano pa kaliit rental, dapat may OR. afaik, pag commercial space, kahit di umabot sa threshold, may VAT yan. pag residential naman, pag di umabot sa threshold (12,400 ata ngayon) ang rent e exempted pa sa VAT. pero VAT lang to na pinag uusapan natin. siyempre, iba pa rin ang income and the tax that comes with it.

kaya maganda na sa umpisa pa lang plantsado lahat para pag naka encounter ng medyo matitigas ang ulo na tenants e may laban tayo and di matatakot na ireklamo sila.

[kirei_me]

Hi mga sis! I love reading Gtalk forum talaga dami ko natututunan and get inspired!
As of now meron nako nakuhang condo unit sa the fort global pero 2016 pa ang turnover.
Nagiipon naman kme for apartment..I want yung biglaang ibebenta or foreclosure properties sa bank.
Or another condo unit. Saka na yung dream house hindi pa naman kame magfoforgood sa pinas.

Can you send me a copy of your contract for tenants. Or pinapagawa niyo yun sa lawyer?
Paano kung yung mga tenants for apartment wala naman kakayahan mag-open ng checking account, cash basis lang? OR is fine?
Mas maganda kasi kung Pdc's ano for legal purposes talaga.

[yapeegurl]

^Mas prefer namin talaga ang may PDCs na tenants. Iwas hassle at sakit sa ulo. And yes, dahil sa legal obligation nila. Ang contract na ginagamit namin ay based lang din sa copy na meron ang property agent ng condo. Same contract (with few amendments) din ang ginagamit namin sa tenant ng house namin. We had the contract notarized. We did not engage any lawyer.

[kirei_me]

^ thanks sis yapeegurl

[ann08]

Planning to buy a house and lot via home loan.

Can I use my TCT as a collateral to the bank? or should I use the title of the property I am buying?

thanks

[yapeegurl]

^hi sis.. We have the same thoughts.. We bought a lot last year and we're scheduled to apply the loan sa bank this coming August. We do not have any title yet from the developer (Avida). Contract To Sell pa lang ata ang meron kami..

[Princess_Chill]

^hi sis.. We have the same thoughts.. We bought a lot last year and we're scheduled to apply the loan sa bank this coming August. We do not have any title yet from the developer (Avida). Contract To Sell pa lang ata ang meron kami..

pag mga ganyan sis contract to sell ay pwede na para makapag bank loan ka na...si avida will then give the title to the bank kung saan ka
ma approve

[yapeegurl]

^Thanks for the information sis! Sa August kami mag apply for bank loan

[Princess_Chill]

sis pag magpa bank loan ka doon ka nalang sa pinsan ko kuha ng loan

[mameejhy]

^Thanks for the information sis! Sa August kami mag apply for bank loan

Avida's bank is BPI... kung ipapasok mo sa bank loan.

[yapeegurl]

^Oh Ok. Thanks sis. Sayang BDO kasi kami. Easier kasi kung BPI kasi tie up nila pero hassle for me na mag open pa ng account with BPI.

[agape]

Amaia, Avida, Alveo, Ayala = BPI Family (I think this is the lowest rate daw)
Federal Land = Metrobank, PSBank

Ano pa pala mga developers na mejo hassle-free mag bank loan?
Anong bank yung partner nila? And which banks give low-interest?
or fixed-interest on first few years?
or minimal interest increase every year?

[ms_ldr]

we are interested to buy a piece of land sa province ni hubby, ang sabi ng nagbebenta, its a free patent title, meaning our name will be the first on the free patent title. they will submit a form sa DENR and then they will forward it to Manila Registry of Deeds when all requirements has been accomplised.
 
ano ba ang ibig sabihin ng "free patent title" ?? wala kaming ka ide- idea.

[aquacharly]

Paano kung yung mga tenants for apartment wala naman kakayahan mag-open ng checking account, cash basis lang? OR is fine?
Mas maganda kasi kung Pdc's ano for legal purposes talaga.

IMO, Rental & Security Deposits backed with a good notarized contract & correct ORs is the best way to manage leased out properties.  After all that, kung may PDCs - better.

BUT PDCs ALONE  are nothing nowadays --  they just close the accounts; it may not be worth the time and expense to sue;, and wala nang nakukulong for bounced checks. 

[aquacharly]

we are interested to buy a piece of land sa province ni hubby, ang sabi ng nagbebenta, its a free patent title, meaning our name will be the first on the free patent title. they will submit a form sa DENR and then they will forward it to Manila Registry of Deeds when all requirements has been accomplised.
 
ano ba ang ibig sabihin ng "free patent title" ?? wala kaming ka ide- idea.

The fact that they  "arrange" it for you  should warn  you.
Simply, it means you have been occupying or making productive use of the property for sooo many years -- the whole community is aware of such.
That is the underlying thory.  Legally -- google it; too long to put own here the full legalities, , the requirements, etc.

I have purchased through this arrangement -- but always, , in places where my family has ancestral political clout.  Otherwise, I will not risk the long wait & extra procedures .

Always Google what you need to know & have zero idea of -- to protect your interest.
Pag alam mo na basics, saka search for additional info.

[ms_ldr]

^thanks for the insights.
i always google, but this one seems a bit complicated for me, need someone to explain further, someone who might have the same experience.

the whole area is being developed into a subdivision, each lot (300sqm) comes with a very cheap price and in a very good location.. madaming opportunities kaya its very interesting.

the seller said that we will receive our title for about 4-6 months, and in the meantime we will have the waiver of rights in our name certified by DENR land investigator while waiting.

as ive research,the only problem to look for is the restrictions attached with the title...

[aquacharly]

^ if your main concern is use restriction:  check the classification of the property.
Usually, agri ang classification -- the developer/seller has it reclassified .
You will find  that in the mother TCT or easier, in the real estate OR or Tax Declaration.
That is how it usually goes -- coz before you market as a subdivision or whatever development -- dapat napa reclassify na ng developer.  And the mother TCT (to be subdivided) is a requirement for the License to Sell.

Now, yang marketing to you, but you get only RIGHTS over a portion/share of a free patent (you don't have a free patent in your name) --  the developer is passing on the cost & time required to re-classify, title & subdivide  to  the buyers.
(Sa Boso-Boso Antipolo maraming  ganyan, selling of RIGHTS. But the rights are  sold to 1 buyer --  wala pa ko come across yang rights pa lang eh subdivide na.)

Yes, of course,  it's cheap.  More risk, lower price.  Rights to a share/portion of a free parent vs a TCT is a big gap there in terms of  negotiability.
Plus, you can't use the Rights as collateral for a housing loan/equity.
4-6 months - give na individual TCTs? - don't hold your breathe on that.

You are buying rights to a free patent, not lots  in a subdivision --  just be very clear on that.
So, do not assume that what fancy subdivision plan they present is what you will end up with. 
Coz, how do you legally enforce delivery of a subdivision lot with certain specified subdivision features when with just rights --  there is no License to Sell yet.
Understand your contract with them vey carefully --  na wala silang escape clause between delivery of your rights transformed into a TCT. 



.

[ms_ldr]

^thanks for the infos. did some more research and im loosing interest na. iniisip ko lang na maganda ang location and can put up a business there. but anyway, thanks aquacharly, you gave me a more clearer picture ..ayaw ko na. maraming risk involve.

[freelancer_babe]

Is it really true na may season rin ang real estate - like, it's booming when stock market enters bear market? May time na madaling magbenta at may time na mahirap?

[ann08]

Was thinking if its good to buy a property without a title but the owner is paying taxes every year
and this is the reason why he's selling the property far from its zonal value and location value.
What are your thoughts on this.  thanks