Real Estate Investment

[futboler_dati]

Bella Vita is socialized housing development of Ayala.

[lalee888]

Got a 2br condo with parking and a 60sqm office unit in makati for 2.5M lang paid them in cash.  yung owner kasi patay na and yung mga anak ayaw na mag asikaso gusto ma dispose na ang property ng parents.

Madami pa silang  properties they have one being rented out for 1M a month supermarket ang tenant among many others. May school pa sila na naka tiwangwang na lang kasi ayaw asikasuhin ng anak. Sad yung ganito nagpaka hirap mag pundar yung parents then yung mga anak puro pasarap lang ang alam. Kung gumastos halos 80k in one day ubos. Who knows kung ano ginagawa nila sa pera.

anyway ipapa airbnb ko yung condo then rent out the office. I also live in a 2br condo now baka ipa rent ko rin then transfer to a smaller unit to maximize my earnings kasi mag isa lang naman ako. Next investment ko might be a vacant lot that i will subdivide and selll na smaller cut na. Gusto ko ng madaming passive income so i can retire comfortably although i love my job i feel na habang bata at malakas pa mag start na ako to build my investments.

What a great deal, how did you find this kind of lead? Stroke of luck or any particulars we should be on the look out for? I actually don't even know where to look for ads on condo sales. My husband and I are looking for a condo in BGC/Makati area, similar to what you found -- asset disposal of someone.

[Rory_Lorelie_Gilmore]

 

[sdee]

What a great deal, how did you find this kind of lead? Stroke of luck or any particulars we should be on the look out for? I actually don't even know where to look for ads on condo sales. My husband and I are looking for a condo in BGC/Makati area, similar to what you found -- asset disposal of someone.

hi lalee, I have some in makati area developed by shangrila if you want

[Tea97]

Mga Sis - who are your insurance providers for your rental properties? and anong type of insurance do you get? hm range ng insurance nyo (pls specify kung gaano kalaki yun pty and if furnished)?

Salamat ng marami!

[hisana]

I'm seeing so many condos being constructed lately, on top of dun sa maraming kakatapos lang, and not to mention yung mga dating condos pa. Here in katipunan alone, marami nang condos from when I was an undergrad pa, tapos years ago dumagdag pa yung megacondos na berkeley and blue, plus nagkaroon ng a lot of other smaller buildings na condo type din. Currently I see three new high rises being constructed in the area, siguro matatapos by 2021. One of them is DMCI's infina (not really in katipunan but near enough), and parang gusto ko kumuha ng unit for personal use but pwede for investment na rin.

I guess what I'm getting at is sa daming condos ngayon, madali pa ba kumuha ng tenants? I mean, for example, selling point kasi ng katipunan yung maraming schools and so madaming potential student tenants, but pansin ko nowadays it takes them time to find tenants, meron pa ngang nagbabaan na ang rent. Ano na ba trend ngayon? Can I realistically expect pa rin na this will be a good investment years from now when turned over na sya? 

Just my thoughts and curious lang talaga ako what to expect. Siguro huwag dapat ako kumuha sa katipunan kasi baka saturated na, naisip ko! But is the trend the same for other prime locations?

[Rory_Lorelie_Gilmore]

^True, most of the time pati sobrang liit ng mga condos. Pang transient lang talaga, can't imagine myself living in it for a long duration.

[gab54]

Sa real estate rentals, location is very important. Ex sa Katipunan, market mo siguro mga students na nag aaral sa Miriam or Ateneo. In my case, puro sa Makati ang investment ko, tenants ko ay working in Makati.

[sparklingjewel]

madali pa ba kumuha ng tenants? I mean, for example, selling point kasi ng katipunan yung maraming schools and so madaming potential student tenants, but pansin ko nowadays it takes them time to find tenants, meron pa ngang nagbabaan na ang rent. Ano na ba trend ngayon? Can I realistically expect pa rin na this will be a good investment years from now when turned over na sya? 

Hi, im married to a man from a family of real estate developers (both personal and business). I just wanted to share my thoughts with you. My husband firmly doesn't believe in investing in condos for leasing. It will take you anywhere from 10-15 years just to recover your investment, especially since it is highly unlikely that your condo is fully occupied all months of the year. It's better daw to buy and sell for a profit, but of course that also isn't a guarantee, baka mahirapan ka humanap ng buyer, hindi ganun kalaki tubo, and the condo depreciates over time before you can find a buyer. Also, you should consider that in most urban areas, maliit nalang ang appreciation ng value niyan because malaki na itinaas nya over the last 10-20 years, kumbaga "mahal" na yung market price now.

They believe that condos are a good investment option if the capital isn't too big for you (meaning, wala ka na mapaglagyan ng pera) and you don't mind that huge amount being tied up for a decade or more. That said, the best reason to buy a condo is to use it and live in it.

[Rory_Lorelie_Gilmore]

^thanks for sharing Sis.

[hisana]

Mga sis, thanks for the feedback. Very helpful.

My original plan is to get a condo as a place I can use for myself kasi so many years na rin ako nagrerent ng condos and feeling ko I should just go ahead and get one. Planning on 30 sqm above para medyo liveable naman nga long term and preferably in a good location like katipunan, cubao or ortigas. But I don't want to live in it yung tipong hanggang tumanda ako. I still want a house or at least townhouse eventually. (I technically already have a small house na bigay ng dad ko pero sa province sya and one of my relatives is using it, ayoko kasi tumira talaga dun). So eventually baka iwan ko din yung condo, so I'm sort of also investigating the investment side of it. Kaya lang yun nga, ewan ko lang what I should expect. I know hindi naman kasi guaranteed yung income, anong gagawin ko kung hirap talaga humanap ng tenant di ba, but at the same time I meet so many people doing this and magaling talaga mag-salestalk ang ibang agents. Hirap magdesisyon, haha. Gusto ko lang i-gauge kung feasible naman yung gusto ko mangyari. Will think about it some more.

[gab54]

When hubby and I got married 1997, we started renting kasi we couldnt afford to buy. Over time naka ipon kami ng money, 2005 we found a foreclosed property worth 1.7M, nag down kami ng 500k, monthly 17K for 10 years. Dun kami nag start. Imagine nagrent kami ng 8 years, nakakahinayang din 1m na rent wala lang. Whereas pag nag invest ka sa property, usually tataas ang value over the years, worse scenario kung ayaw mo na ibenta mo ng puhunan, nakatira ka naman ng libre for a few years diba? Important is to chose the right real estate investment.

[sparklingjewel]

^^If you plan to live in it, then it might be "worth it" for you. Kasi the problem lies in having the mindset na bibilhin ko to and then will rent it out para mabawi yung investment and make a profit... realistically, super hirap nun these days dahil may surplus na of condo units. Kaya nga andaming condo buildings ngayon bought, but not occupied. It will take years before you can even recover what you invested from leasing it out.

Nakapagpa-rent narin kami, but as expected it's tough to be fully occupied on all months. We only did so for a few months because we knew walang gagamit though, hindi para bawiin yung capital. It was also problematic (had strict rules but tenants dont follow---like smoking in the unit, damaging furniture, etc) so you need to prepare yourself to file claims for damages when these occur, have a legal contract. Smoking tenants is the hardest for me because the damage to the textiles, drapes, isn't always clean-able and you'll have to replace stuff and do thorough cleaning before the stench goes away.

[hisana]

Sis gab54, so true. Right now I'm on my 7th or 8th year na nga of renting, nakakapanghinayang. Plus ako dati I came across several deals on condos that sounded good, meron pa nga akong former landlord who offered to sell me the unit I was staying in (greenhills area) on very affordable terms, and I had the money for the downpayment even and willing ako bigyan ng loan ng dad ko if I wanted to go ahead with it, but back then parang I didn't imagine na bibili ako ng condo, I always thought my first purchase would be a house eventually. So ito na nga, fast forward to today and still renting! Basta missed opportunity talaga. Nowadays, tumitingin din ako ng foreclosed properties (non-condo), suggestion ng friends ko who are into this, but I'm having a hard time finding a good deal and also I'm so new at this, madami pa ako dapat alamin. I have a feeling din kasi na medyo matatagalan pa ang condo living ko. I feel a little positive about getting a unit naman, medyo excited pa nga nung una, but I really want to see muna anong mga pwedeng mangyari down the line.

Sis sparklingjewel, yan din talaga ang worries ko. I'm just basing this on what I'm seeing right now in katipunan. Tapos mukhang dadami pa talaga ang mga tinatayo. I feel it's really, really competitive now. I've come across agents na sabi nila they will help me find tenants to help pay the amortization and I've met people na sinswerte na they get tenants regularly, but you know, napapaisip ako kung ano percentage ba ang ganito. But reading your posts, nadagdagan talaga yung insight ko into the pros and the cons. Boils down on how much risk I want to take, no. And also finding the right tenant and dealing with the difficult ones...I think that deserves a whole new thread altogether! Haha.

Thanks again for sharing your thoughts and experiences. Just wanted to get as much feedback as I can, first major investment kasi ito for someone like me.

[crzysxycl]

Hi mga sis. Sorry kung medyo OT, ask ko lang sana how to sell a condo na naka mortgage pa sa bank?

I started paying for it in 2014. Last year lang nag start yung monthly amortization ko with BPI. Kaso our family is planning to migrate, plan ko idagdag nalang sana sa settlement funds yung mapag bebentahan. Kahit wala ng mark up, lahat nalang ng naihulog ko sana. Ano kayang process for me to sell it, don't know where and how to start kasi. I called BPI and Ayala already pero labas na raw sila doon and depende nalang daw sa usapan namin ng bibili.

Marami ako nakikita sa OLX na "for assume balance", I assume ganito mangyayari, tama po? Kaso wala talaga ako idea since this is the first property I bought.

Salamat ng marami.

[gab54]

sis hisana, wag magmadali. baka magkamali ng investment. sa ngayon, importante ay mag plano at mag research. walang masama sa tingin tingin, tanong tanong. para kabisado mo ang tamang property at tamang value. next, mag ipon at magtabi ng pera (in case may dumating na opportunity). although dont take too long, minsan pataas ng pataas ang magandang property...

[gab54]

sis crzysxycl, im not an expert on this. but 5 years ago, I bought a property na may 5 million balance. price was 14m. So naging usapan namin, downpayment ako ng 5m para mabayaran nya utag at ma release ang title, may contract to sell kami. tapos nung nasa kanya na ang title, nagbayad ako ng 9m, nag deed of sale na kami. In my case, cash buyer kasi ako.

pero others just pay the seller the agreed amount, tapos sila na ang nag asume ng balance sa bank. dapat inquire ka sa bank kung panu itransfer ang loan sa buyer. heres an interesting read https://philpropertyexpert.com/how-sale-with-assumption-of-mortgage-works/

[sparklingjewel]

Sis hisana i didnt go the agent route in leasing kasi malaki cut nila and di ko naman majack up sobra ang rent ko because of competition. Try to benchmark with the other units in the same place para competitive ang pricing mo. Goodluck!

[Tea97]

Anyone tried the rent to own schemes of developers? Any catch on this? Can the units be rented out to tenants under this scheme?

[crzysxycl]

sis gab54, thanks so much! noob question lang uli sis.. nung binili mo yung property, ibig ba sabihin 5M na rin yung total na naihulog nung seller? O medyo lugi sya dun and nag base lang sa TCP yung pricing nya? kagaya nung sa condo ko, nasa 1.5M yung TCP nya, then around 800k na yung nagastos ko, pwede ko bang ibenta ng 800k din o dapat lower pa?