Real Estate Investment

[carlavinoya]

Any feedback from DMCI?

[cind3r3lla]

Hello mga sis.

Iniisip ko lang kung maganda ba maginvest sa Azure, kase first time namin magconsider bumili ng condo.. baka masyado kami impulsive, kase kaya namin magbayad nung 4 years, and even after nun.. kaya lang, di kami sure kung ok ba yung condo nila or maganda ba ang income nung mga current na nakakuha na. kase according dun sa agent, sila yung nagmamanage ng rental ng units.

Merong talk before akong nakita sa Facebook about how to choose a "good investment condo". Yung sa FB group ni Floi Wycoco ko sya napakinggan.
Personally, though bias ako..hehe..
What I don't like about Azure.. 1. sobrang high rise at ang daming units. 2. ang liit ng units 3. location
What I like about Azure... 1. yung man-made beach/pool 2. affordable

Good luck sis.

[fionaapple]

^ would you believe, yung iba walang checking account?

eto yata yung challenge ng low-income rental. hindi sa snooty ako sis ha, pero this is something to think about. one time kasi pina-baraggay pa nya yung tenant kasi ialng buwan na di nakakabayad, and ayaw umalis. hay stress.

hi sis Annie M.,  sorry it took awhile bago ko nasagot ito. yung dati naming bahay pinaparentahan. nung time na 5k a month pa lang a month ang upahan dun sa area namin, my mom was able to have it rented at 7k a month kasi we had it renovated and repainted/ tiled everything/added built in cabinets. when the first tenant left, and a new one came, we increased it to 7,500.

main condition namin for the tenants ay checking account. kung wala silang checking account, hanap sila ng kapatid o kamag anak na may checking account na mag i issue ng 12 months postdated checking account. sa lease contract, signatory yung tenants pati yung nag issue ng check, para later on walang defense na ninakaw lang ang checkbook etc. at pineke pirma nya sa cheke.

kung ayaw mag issue ng check ng interested na mag rent, di namin ieentertain, as simple as that. kasi kung walang nagttiwala sa kanya enough to issue a check in his behalf, or kung wala kang checking account, baka wala siyang pambayad ng rent or hindi siya marunong tumupad sa kontrata. yun lang ang hold mo sa tenant, yung checks. mas madali mag file ng violation of BP 22 (bouncing checks law) kesa mag paalis ng tenant.

di kami nanghihinayang sa mga nagsasabi na, bakit daw kelangan may cheke pa, may pambayad naman daw sila at kaya nila maka-afford kahit more than 7k na rent. (believe me, marami nang nagsabi sa akin nun. kasi ako yung nag aasikaso ng paghahanap ng tenant at paggawa ng contract.) basta yun ang condition namin.issuance of postdated checks. they are free to look for other houses for rent if they cannot meet that simple condition. when it comes to money, especially kung long term ang contract (we only allow rental for at least 1 year contract, then renewable through another contract every year), hindi pwede yung verbal assurance lang. at verbal lang na usapan. kasi kapag nagkaproblema, mahirap din.

[momlory]

^invest in smdc condo shore2 sa may mall of asia. Pero cinoconsider ko siyang ibenta during turnover date instead of ipa rent.

[jmeangeL]

Isa-suggest ko sana sis kahit i-list mo yung condo mo sa Airbnb. Kaso you need someone who will clean the place and meet your guests. Malaki rin kase income sa Airbnb specially here in the metro. 

Yes, I'm into Airbnb for our condo in Tagaytay and was able to find a very good care taker.
Di ko alam before na OK pala talagang investment ang condo.  Kung alam ko lang about Airbnb, noon ko pa sana nagawa ito.

[brandi]

I've been interested on getting a condo to rent it out for quite sometime but it really bothers me whenever there are earthquake news. 

[gab54]

As of today nasa 43 doors ang ang apartment for rent namin in 4 locations. Rentals nasa 7K to 17K. Mga half lang may PDC. Half wala. Pansin ko mga less than 10K rent ang usually walang PDC. Nung una strict kami, no PDC no deal, pero nakakahinayang ang daming vacant, loss of income din. So pumayag na kami na walang PDC yun iba. So far, may mga na dedelay pero eventually nakakapagbayad naman.

[jmeangeL]

As of today nasa 43 doors ang ang apartment for rent namin in 4 locations. Rentals nasa 7K to 17K. Mga half lang may PDC. Half wala. Pansin ko mga less than 10K rent ang usually walang PDC. Nung una strict kami, no PDC no deal, pero nakakahinayang ang daming vacant, loss of income din. So pumayag na kami na walang PDC yun iba. So far, may mga na dedelay pero eventually nakakapagbayad naman.

wow naman sis... go, go, go
mind sharing the 4 locations mentioned?

[gab54]

^All in Makati, Bangkal, Palanan, Olympia... All these I bought pre-owned

[Noylabmay]

Hi Question po sa mga expert na sissies.

Pag apartment ba ang ipapatayo pwedeng home loan pa rin sa bank?

TIA!

[sweet angel]

sis gab54, galing naman! may i ask kung cash mo ba binili mga apartment o niloan? if loan, me nagkasabay ba? o paisa isa talaga ang paginvest...salamat. interesado talaga ako sa real estate investment, me 2 door apartment na kami, sana madagdagan pa.

[fionaapple]

^All in Makati, Bangkal, Palanan, Olympia... All these I bought pre-owned

hi sis. ang galing mo naman. wala pa akong real estate investment... still in the process of completing our emergency funds... pero balak ko rin in the future. condominium units ba ang mga tenanted properties mo?

[sdee]

hi sissies, you might want also to check The Rise Makati project developed by Shang Properties. im in-house there you can pm me for details price starts at 5M super mura niya for a Shang Developed na condo.

 

^All in Makati, Bangkal, Palanan, Olympia... All these I bought pre-owned

[Tea97]

^^@Gab54 - I'm curious - how do you advertise your units? Paskil sa pwesto, word of mouth, online, or all - which one is the most effective for you?

Ano vacancy rate mo? And pano collections - do you go there every month or do you live there yourself? If you don't mind me asking - ano yun configuration ng 17k per month mo - is it a 2BR, 1Bath, unit w 30sqm?

Maganda and mabilis ang growth ng  portfolio mo (43 doors in 12 years) - no assoc dues; pero in my mind, sa laki nya and dami, it will require at least one or 2 full time staff kung cash magbayad yun tenants.

Right now, my view is overpriced na lupa and condo sa Metro. So looking to invest outside MM na kami.

[gab54]

sis gab54, galing naman! may i ask kung cash mo ba binili mga apartment o niloan? if loan, me nagkasabay ba? o paisa isa talaga ang paginvest...salamat. interesado talaga ako sa real estate investment, me 2 door apartment na kami, sana madagdagan pa.

Some cash, some bank loan. Hindi sabay binili pero some bank loan, nag ooverlap. Rental income helps pay for the bank loan, pero kulang pa so dagdag ako from my other source of income.

[twinbee]

re: azure..

ang daming galit na unit owners sa azure management..
kung gusto nyo ng stress, unli problem, kuha kayo ng unit dun hehe

[Noylabmay]

Yes I mean fully paid kaso pasok pa rin ba ang apartment sa category ng bank na home loan?

nakapag inquire ako sa PS Bank hindi daw pwede ang apartment.

[gab54]

hi sis. ang galing mo naman. wala pa akong real estate investment... still in the process of completing our emergency funds... pero balak ko rin in the future. condominium units ba ang mga tenanted properties mo?

Right now wala na akong condo. I sold them years ago. All my properties are lot with improvements
Example, lot with 4 doors. lot with 3 storey building, then converted in 13 doors

[gab54]

^^@Gab54 - I'm curious - how do you advertise your units? Paskil sa pwesto, word of mouth, online, or all - which one is the most effective for you?

Ano vacancy rate mo? And pano collections - do you go there every month or do you live there yourself? If you don't mind me asking - ano yun configuration ng 17k per month mo - is it a 2BR, 1Bath, unit w 30sqm?

Maganda and mabilis ang growth ng  portfolio mo (43 doors in 12 years) - no assoc dues; pero in my mind, sa laki nya and dami, it will require at least one or 2 full time staff kung cash magbayad yun tenants.

Right now, my view is overpriced na lupa and condo sa Metro. So looking to invest outside MM na kami.

Re your 1st question. All of the above. Advertise online, paskil sa mismo property, referrals.
Vacancy rate, as of today I have 3 vacancies (out of 43 doors).
Collections may nagbiigay pdc, others would deposit on my account (then text me so I can confirm), others pupuntahan to get cash.
I have only 1 employee, he knows carpentry, plumbing, repairs, he also collects payments. Pag may inquiry siya din ang pupunta to show open doors.
Yun 17K ko, up and down. 60sq meter. 3 small br and 1 cr.
Yes, sobrang mahal now.

[bzbee]

hi! just thought i'd share. my husband and I are just regular employees. i bought an SMDC condo when i was still single, i lived there for a few years until my husband moved in. we've recently move out and finished paying for the amortization and its currently being rented out. when we realized that we had an extra rental income, we decided to buy another condo. we chose a pre-selling condo from DMCI that we plan to rent out as well.

we're using the rental income we're getting from the SMDC condo to pay for the downpayment installment of the DMCI condo. its almost equal.

we plan to do this for the next 5 years until we finish the downpayment of the DMCI condo. then once the DMCI condo is RFO, we can rent it out too so that the rental income from that will also pay for the balance that we'll be loaning from the bank.

if everything goes well, the dmci condo will pay for itself and we'll still have the rental income from the SMDC condo that we could use to buy a 3rd condo. *fingers crossed*

long term, we'll finish the loans from all our condos and everything will just be passive rental income - which is our retirement goal