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Buying condos as investments?

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Zodel
Not sure if anyone is successful in doing this here. In the United States real estate investor鈥檚 is very competitive. All though I haven鈥檛 had to evict anyone in a while I was wondering what the process is in makati? Also I was looking to cash out. In The United States and buy a few units in the circuit area of makati. I missed out on Rockwell when they started that project. I was considering relocating to Florida Clearwater or transition to Philippines. My wife is from makati so it鈥檚 definitely easier for a expat.
Life seems much better it seems there although I might have to give up my Tesla. Lol
Coz Huang
@Zodel no recommendation
1. No buyers and investors
2. Same price the local buyer would purchase house and lot
3. Pandemic-not recover yet, Expats didn鈥檛 go to PH anymore

personal use is Ok but if this is for investment, not a good idea.
Look for high end developer would be better for resell in the future
coach53
I dont know in聽 Makati, but at some other places are rent incomes very low. No way I would be interested in investing for rent out.聽 Specialy in a country where capital is valued VERY high in business deals.
((E g at some a bit risky because of weather dependant Agricultural deals investors get from (capital lost) to (close to double the investment) in 4 - 5 months, but 30 - 40 % is rather common if finding a good farmer to make the deal with. And I expect to get 3 - 10 times my investment in around 5 years at a very low risk business type (but much fluctuating product sell price). But thats some better than the normal 2 - 3 times in such business by I have found a "shortcut" which can be used in starts, later it will go down to the normal.))

Dont be sure construction quality is as in your home country. Its common to use less cement "to save money"!!!聽 E g many hollow blocks break if droping from a height, which a normal proportion cement would manage...
Lotus Eater
In a nutshell Zodel what Coach53 is trying his best (bless him) to say is don't give up your prized possession Tesla just yet. RENT
coach53
In a nutshell Zodel what Coach53 is trying his best (bless him) to say is don't give up your prized possession Tesla just yet. RENT
- @Lotus Eater
Cant you make a better BS post against me than that?! You have droped in UNquality聽 聽:)
Zodel
Thanks for the replies. Anywhere Ayala land seems like a good investment. For example back in I believe 2010 Rockwell condos we鈥檙e selling about 120k US dollars. Now those properties are 500k- and up! I see rents $1,700-2,400. I could never afford something so nice in the United States. But the real reason I considered getting at least one property is the taxes and condo fees are next to nothing. In the United States even if you can afford a nice condo it鈥檚 all the monthly fees that kill you. I guess the real question is do I live their or not.
Enzyte Bob
Thanks for the replies. Anywhere Ayala land seems like a good investment. For example back in I believe 2010 Rockwell condos we鈥檙e selling about 120k US dollars. Now those properties are 500k- and up! I see rents $1,700-2,400. I could never afford something so nice in the United States. But the real reason I considered getting at least one property is the taxes and condo fees are next to nothing. In the United States even if you can afford a nice condo it鈥檚 all the monthly fees that kill you. I guess the real question is do I live their or not.
- @Zodel
At this time No investment is a Good investment in the Philippines, if I was an investor.

I was living in Vegas during the hottest real estate market. Donald Trump built a 64 story Hotel/Condominium/Timeshare, ground breaking was in July 2005, all 1282 units were reserved by prospective buyers by May 2005. The project was completed in March 2008.

Great timing, the meltdown of the housing market, starting in 2008.

In the beginning聽 there was a frenzy of people wanting to get into the action, some were paying over a $1,000 a square foot. Converted to a square meters that's $10,760.

I watched investors being interviewed on TV, one investor said this is an investment of a lifetime and he bought several units. Luckily only 21% of the buyers were able to obtain a mortgage.

Now look at China this present day, the housing market is in a Meltdown, major developers are defaulting on their interest payments.

A better investment would be buying more Tesla's, wait till the market is right and sell them at Mecum or Barrett-Jackson auctions.
coach53
At this time No investment is a Good investment in the Philippines, if I was an investor.
- @Enzyte Bob
IF you talk about buy houses for rent out, then I agree with you!!!聽 聽 :)
(With very few exceptions e g if there are any superbargains left of tourist related buildings. There have been such for sale extreemly cheap, so if tourism recover, then such would be very good investments.)

But聽 IF you talk in general including all production businesses too, then I disagree.
Otherwize I wouldnt be in progress to exband the production business I have started allready and we are in progress researching which of four other types of productions are interesting to start too聽 :)聽 聽(All except one suit for export if needed.)
Enzyte Bob
At this time No investment is a Good investment in the Philippines, if I was an investor.
- @Enzyte Bob
IF you talk about buy houses for rent out, then I agree with you!!!聽 聽 smile.png
(With very few exceptions e g if there are any superbargains left of tourist related buildings. There have been such for sale extreemly cheap, so if tourism recover, then such would be very good investments.)

But聽 IF you talk in general including all production businesses too, then I disagree.
Otherwize I wouldnt be in progress to exband the production business I have started allready and we are in progress researching which of four other types of productions are interesting to start too聽 smile.png聽 聽(All except one suit for export if needed.)
- @coach53
**
I'm talking about Condos, especially pre-sale. I'm not talking about IF's, (Per your example: IF there are super bargains, IF tourism recover.)

Read the original post. BUYING CONDOS AS INVESTMENTS.
coach53
At this time No investment is a Good investment in the Philippines, if I was an investor.
- @Enzyte Bob

**
I'm talking about Condos, especially pre-sale. I'm not talking about IF's, (Per your example: IF there are super bargains, IF tourism recover.)

- @Enzyte Bob
You have complained many times about my grammar and spelling.
In such petimeter messure as yours against me, thats NOT what you said...

Correct would be writing as I did OR write
At this time No CONDO investment is a Good investment in the Philippines, if I was an investor.聽 :D
Enzyte Bob


Correct would be writing as I did OR write
At this time No CONDO investment is a Good investment in the Philippines, if I was an investor.聽 big_smile.png
- @coach53
We all appreciate your wisdom and expertise, especially on Condo Investments and your humanitarian endeavors employing Filipino's.

Coach the genius you are is often masked in your posting because of the poor grammar and spelling. I know you do this on purpose as not to make us on the forum including myself feel inferior.

We all appreciate your wisdom and expertise, I wish you could have been my mentor then I could be successful today. We all are waiting to read your blog or maybe even buy your book when published.

I even would suggest to Julian to make you the permanent moderator of this forum.

I beg you to forgive me for all the uncouth postings, I made about you.
PalawOne
@Zodel no recommendation
1. No buyers and investors
2. Same price the local buyer would purchase house and lot
3. Pandemic-not recover yet, Expats didn鈥檛 go to PH anymore

personal use is Ok but if this is for investment, not a good idea.
Look for high end developer would be better for resell in the future
- @Coz Huang

Extremely good advice .. very wise thinking .. thank you @Coz Huang
Lotus Eater
At this time No investment is a Good investment in the Philippines, if I was an investor.
- @Enzyte Bob

**
I'm talking about Condos, especially pre-sale. I'm not talking about IF's, (Per your example: IF there are super bargains, IF tourism recover.)

- @Enzyte Bob
You have complained many times about my grammar and spelling.
In such petimeter messure as yours against me, thats NOT what you said...

Correct would be writing as I did OR write
At this time No CONDO investment is a Good investment in the Philippines, if I was an investor.聽 big_smile.png
- @coach53

In all fairness聽 English is not your mother tongue unlike the vast majority of members on this Forum and I for the life of me cannot speak a word of Swedish.
May I make a constructive suggestion? Why not post ALL of your valued聽 analysis in Swedish. The members can then simply use the standard translation software which will give them a much better comprehension of the gist of what you are trying to say. I am sure that the moderators on this Forum would make an exception given your invaluable past contributions & observations.
coach53
We all appreciate your wisdom and expertise, especially on Condo Investments and your humanitarian endeavors employing Filipino's.

Coach the genius you are is often masked in your posting because of the poor grammar and spelling. I know you do this on purpose as not to make us on the forum including myself feel inferior.

We all appreciate your wisdom and expertise, I wish you could have been my mentor then I could be successful today. We all are waiting to read your blog or maybe even buy your book when published.

I even would suggest to Julian to make you the permanent moderator of this forum.

I beg you to forgive me for all the uncouth postings, I made about you.
- @Enzyte Bob
Your last sentence WOULD have been nice if you would have ment it, and not posted it in same post as you write several subtile BS against me... which my English is good enough to understand!!! :)

How did you manage to make my bad spelling being on purpouse to make you feel INferior???!!! inspite of I have told you a lot of times my bad spelling depend of top bosses DONT BOTHER about such unimportant things as spelling...
Actualy IN OPPOSITE I wrote extra bad聽 :)聽 on purpouse back when I did lead a software production with East European programmers to perhaps not make them feel SUPERior but to grow their low self asteem concerning English and to assist them to dare to tell their thoughts about developing solution ideas...
Havent you noticed when I write to make you BS and liar poster feel inferior, I tell that STRAIGHT...?!聽 聽1f923.svg

Your subtile try to make my employing of poor Filipinos being bad, failed - as usual聽 :)聽 - by we both make them not unemployed and we pay them more than whats common for such jobs. Plus we will give them a big bohnus when the business start earn good...
May I make a constructive suggestion? Why not post ALL of your valued聽 analysis in Swedish. The members can then simply use the standard translation software which will give them a much better comprehension of the gist of what you are trying to say.聽 @Lotus Eater
What more stupid BS do you have to say?聽 It dont help to try to disguise it as "conctructive"聽 to stop it from being BS...聽 :)
Glen Adkins
Don't forget to factor in the 10% tax when reselling your house or condo.
Jonassantiago
Thanks for the replies. Anywhere Ayala land seems like a good investment. For example back in I believe 2010 Rockwell condos we鈥檙e selling about 120k US dollars. Now those properties are 500k- and up! I see rents $1,700-2,400. I could never afford something so nice in the United States. But the real reason I considered getting at least one property is the taxes and condo fees are next to nothing. In the United States even if you can afford a nice condo it鈥檚 all the monthly fees that kill you. I guess the real question is do I live their or not.
- @Zodel


based on my limited experience , it helps a great deal if you are buying in locations that is still being developed aggressively. i bought property in BGC once in 2008 (not preselling) and then in 2016 (preselling). the one i bought in 2008 has more than tripled. the one i bought in 2016 has increased by 36% in market value.
coach53
Don't forget to factor in the 10% tax when reselling your house or condo.
- @Glen Adkins
Yes.
1.聽 When SELLING:聽 I guess you talk about capital gain tax.which I dont remember how much it is by I plan to never sell聽 :)

2. When BUYING TITLED - and I recomend to NOT buy any other - there are TRANSFER FEES to government on top of the purchase price total about 10-12 % (by some fees are static and some percent so it depend of the amount)
but LOCK UP its counted at the HIGHEST of paid price and what municipaly MAKE UP its worth even when its crazy to high!!!
Many such valuing are ok but e g in one municipaly I thought of buying real estate in, they had put "value" at rural land 10 times higher than an interesting land HADNT been sold for in several years!!!聽 I mean it WOULD have been interesting if the fees would have been counted at a realistic value...

When selling its suppoused to be the seller paying p1, but some sellers try to make the buyer pay p1 too.
The buyer pay p2.
Lothar Scholz

@Zodel

Condo prices fell by 25% in the two 2020-2021 years and by all objections are still insane overpriced. Just look how cheap condos are now in Bangkok with far better quality in building and a much better location and general environment.


globalpropertyguide.com/news-philippines-housing-market-performance-remains-dismal-4373

frenschfred

@Zodel

***

Moderated by Bhavna last year
Reason : Please create your ad in the Housing section
We invite you to read the forum code of conduct
bigpearl

As do thousands of others frenschfred, Good luck and welcome to the forum/perhaps the classifieds here?


Cheers, Steve.

antonioggriffin

@coach53

I'm new here.

I don't know you.

But I already love you coach

馃敟馃敟馃敟馃檹馃敟馃敟馃敟


I need to buy this book if you have one.

Enzyte Bob

antonioggriffin said to coach 53 . . . I'm new here.I don't know you. But I already love you coach馃敟馃敟馃敟馃檹馃敟馃敟馃敟I need to buy this book if you have one.

**

You're not the only one who loves Coach53, the only other is Coach53 himself.

antonioggriffin


You're not the only one who loves Coach53, the only other is Coach53 himself.
聽 聽

聽 聽 -@Enzyte Bob



馃槼馃槻馃ぃ馃ぃ馃ぃ

R茅al Marchand

@frenschfred


Hi,

If is it under 4M contact me.


Skipper

frenschfred

@R茅al Marchand

hi,

***

Moderated by Bhavna last year
Reason : Adverts are not allowed on the forum.
We invite you to read the forum code of conduct
bigpearl


聽 聽 @R茅al Marchandhi,no ***聽 聽 聽 聽 聽-@frenschfred

As an agent (I presume) you need to advertise your wares in the housing section here and not harass members that are simply asking other member for opinions.

When they are ready to purchase I'm sure they will search out whose selling what in the classified section here as well as online.

OMO.

Cheers, Steve.

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