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Distress sale.... house and lot


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lazydays

This looks like a fantastic investment. Wish I had the money.

 

 

 

That looks like a great investment for sure. But have to hang on to it for maybe at least 5 yrs or so.

I would buyt it if I had the money.

As soon as you buy and maybe do some fixing, put it right away in the market and let it stay there for some years until someone pays your asking price.

 

I wonder what is the future of real estate in the Philippines (particularly Cebu), lots of new houses - low cost and high end, condos etc.

They are everywhere, lots of hopeful developers and investors.

They are selling but seem like right about 6-8 months into it, they are looking to have it 'assumed'. I see this most often on houses with tiny tots 40sqm-80sqm, you could hardly breath.

They are very overpriced even when it is supposed to be a 'rush sale'.

How's my Filipino real estate terms? LOL

 

Lots of really nice houses that are good deals also (usually a few yrs old-older subdivisions, this is where you find the good sized lots) needs a little fixing but the problem is they want cash upfront sad.gif

Well, I guess this means I have to make sure I got the whole chunk of cash to get the best deal. Pretty understandable.

 

I wonder if the hardcore pros see the same thing as I do.... smile.gif

It's just my observation and just my personal observation.

 

All the the people I talked to that are trying to sell me real estates, all say very starry starry things how they're all great investment, this and that.

 

Ha Ha,Trey,i think you have a bit to learn smile.gif

 

Having a property for sale for years is unlikely to get you the asking price.

The longer a property is on sale,people begin to think there is a problem with it,and will generally offer a much lower price.

If an offer gives you a nice profit,take it,first profit is always the sweetest if you can achieve it in a short time.

 

Never believe what Real Estate Agents tell you,they are like Used Car Salesman,they tell you what you want to hear,wether its true or not.They will always tell you its a good time to buy,even if the markets on its knees or at a peak.They are only interested in $$$,not you.

Pays dividends to do your own research.

 

Just my twocents.gif

 

PS,check out Diver Douglas comment.

 

 

 

 

 

spoken like a guy who is renting ???

 

smile.gif Ha Ha

 

Renting in Phils.

Owner in UK.

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For an investment I would rather buy / own 3 condos or townhouses for 2 Million each than 1 house for 6 million.   As you can see it is hard to sell this property for 6 million.   A condo or tow

Condo prices rise aprox 10 percent a year.         this is the first thing that goes wrong.. first if you sell you pay a real estate commision and lots of taxes which will wipe out the first 20%

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smokey

This looks like a fantastic investment. Wish I had the money.

 

 

 

That looks like a great investment for sure. But have to hang on to it for maybe at least 5 yrs or so.

I would buyt it if I had the money.

As soon as you buy and maybe do some fixing, put it right away in the market and let it stay there for some years until someone pays your asking price.

 

I wonder what is the future of real estate in the Philippines (particularly Cebu), lots of new houses - low cost and high end, condos etc.

They are everywhere, lots of hopeful developers and investors.

They are selling but seem like right about 6-8 months into it, they are looking to have it 'assumed'. I see this most often on houses with tiny tots 40sqm-80sqm, you could hardly breath.

They are very overpriced even when it is supposed to be a 'rush sale'.

How's my Filipino real estate terms? LOL

 

Lots of really nice houses that are good deals also (usually a few yrs old-older subdivisions, this is where you find the good sized lots) needs a little fixing but the problem is they want cash upfront sad.gif

Well, I guess this means I have to make sure I got the whole chunk of cash to get the best deal. Pretty understandable.

 

I wonder if the hardcore pros see the same thing as I do.... smile.gif

It's just my observation and just my personal observation.

 

All the the people I talked to that are trying to sell me real estates, all say very starry starry things how they're all great investment, this and that.

 

Ha Ha,Trey,i think you have a bit to learn smile.gif

 

Having a property for sale for years is unlikely to get you the asking price.

The longer a property is on sale,people begin to think there is a problem with it,and will generally offer a much lower price.

If an offer gives you a nice profit,take it,first profit is always the sweetest if you can achieve it in a short time.

 

Never believe what Real Estate Agents tell you,they are like Used Car Salesman,they tell you what you want to hear,wether its true or not.They will always tell you its a good time to buy,even if the markets on its knees or at a peak.They are only interested in $$$,not you.

Pays dividends to do your own research.

 

Just my twocents.gif

 

PS,check out Diver Douglas comment.

 

 

 

 

 

spoken like a guy who is renting ???

 

smile.gif Ha Ha

 

Renting in Phils.

Owner in UK.

 

 

 

 

 

 

as an owner in the UK do you feel your going to be making a big profit on that investment ?

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well i looked at the condo in question and for 2 million peso you get 36 sq meters so for 6 million you get 108 sq meters and dont own the land or for 6 million you get a house with over 160 sq meters and you own the land hummmmmmmmmmmm

 

I understand what you are staying.

 

But some people like condo living and some people like living in a house.

 

I own condos, houses and raw land. They are all different types of investment and living. You can try to compare them but it really is'nt right.

 

Yes you can compare different condo projects, yes you can compare different sub divisions, yes you can compare different areas of the city.

But to compare condos to a house if like comparing apples and oranges.

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smokey

well i looked at the condo in question and for 2 million peso you get 36 sq meters so for 6 million you get 108 sq meters and dont own the land or for 6 million you get a house with over 160 sq meters and you own the land hummmmmmmmmmmm

 

I understand what you are staying.

 

But some people like condo living and some people like living in a house.

 

I own condos, houses and raw land. They are all different types of investment and living. You can try to compare them but it really is'nt right.

 

Yes you can compare different condo projects, yes you can compare different sub divisions, yes you can compare different areas of the city.

But to compare condos to a house if like comparing apples and oranges.

 

 

 

 

 

i agree that is why the thread is about buying a 6 million peso HOUSE and you are saying its better to buy a condo... condo living is great for single types no children on the move out of town a lot ... for most of us home is more then just a place to park your car at night.... as for land well that is the best lottery in town either you break even or you score only time will tell

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smokey

well i looked at the condo in question and for 2 million peso you get 36 sq meters so for 6 million you get 108 sq meters and dont own the land or for 6 million you get a house with over 160 sq meters and you own the land hummmmmmmmmmmm

 

I understand what you are staying.

 

But some people like condo living and some people like living in a house.

 

I own condos, houses and raw land. They are all different types of investment and living. You can try to compare them but it really is'nt right.

 

Yes you can compare different condo projects, yes you can compare different sub divisions, yes you can compare different areas of the city.

But to compare condos to a house if like comparing apples and oranges.

 

 

 

 

 

your correct so if the thread is about buying a 6 million peso house how is it better to buy a 2 million peso condo when the house is 160 sq meters plus and the condo is 38 sq meters not even close , what if its a family of 6 will that condo be a good investment for them

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That looks like a great investment for sure. But have to hang on to it for maybe at least 5 yrs or so.

I would buyt it if I had the money.

 

I wonder what is the future of real estate in the Philippines (particularly Cebu), lots of new houses - low cost and high end, condos etc.

 

How's my Filipino real estate terms? LOL

 

Lots of really nice houses that are good deals also (usually a few yrs old-older subdivisions, this is where you find the good sized lots) needs a little fixing but the problem is they want cash upfront sad.gif

Well, I guess this means I have to make sure I got the whole chunk of cash to get the best deal. Pretty understandable.

 

I wonder if the hardcore pros see the same thing as I do.... smile.gif

 

 

 

 

 

 

 

your correct so if the thread is about buying a 6 million peso house how is it better to buy a 2 million peso condo when the house is 160 sq meters plus and the condo is 38 sq meters not even close , what if its a family of 6 will that condo be a good investment for them

 

 

 

Sorry but the reason why I was saying it was better to buy Three - P2 million condos rather than One - P6 million house was because of what Washingtonian88's thread saying it was a good investment.

 

Who said there is a family of 6 investing ?

 

Here is are some examples of why I think it is better to invest into Three - P2 million condos.

 

Example #1

 

If you buy a One - P2 million condo presale, you have 24 months to pay off the 30 percent equity of the total net price.

 

P2,000,000 ( total net price )

 

P600,000 paid over 24 months ( 30 percent equity )

 

Condo prices rise aprox 10 percent a year. That means you can sell the condo for P2,400,000 in 24 months.

 

You initial investment was only P600,000 with a profit of P400,000 in 24 months.

 

Multiple that by 3 ( condos ) and that is P1,200,000 profit in 24 months

 

Example #2

 

In the right location a P2,000,000 rents for aprox P 20K - P25K a month. Multiple that by 3 ( condos ) and that is P60k - P75K a month income from rent.

 

 

I find it easier to rent or sell three P2M condos than One P6M house.

 

 

What is the going rate for the raw lots per square meter going for around that house with the same view ?

 

 

Most people with P6M build their own houses to their own specs. So again as an investment for trying to sell if the future I think it would be hard to sell.

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How much are the vacant lots going for in the same subdivision for per square meter ?

 

http://www.staluciarealty.com/2009/property.php?proj_id=231

 

Price

 

* Phase 1 & 2 - P7,900.00 (reg)

* Phase 1-A - P4,100.00 (reg)

* Phase 1-A-1 - P5,800.00 (reg)

* Phases 1-A-2/ 1-A-3 - P6,800.00 (reg)

* Phase 3 - P4,800.00 (reg)

* Block 11 Lots 25A-25M - P6,100.00 (reg)

* Block 11 Lots 25N-25U - P3,500.00 (reg)

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How much are the vacant lots going for in the same subdivision for per square meter ?

 

http://www.staluciar...php?proj_id=231

 

Price

 

* Phase 1 & 2 - P7,900.00 (reg)

* Phase 1-A - P4,100.00 (reg)

* Phase 1-A-1 - P5,800.00 (reg)

* Phases 1-A-2/ 1-A-3 - P6,800.00 (reg)

* Phase 3 - P4,800.00 (reg)

* Block 11 Lots 25A-25M - P6,100.00 (reg)

* Block 11 Lots 25N-25U - P3,500.00 (reg)

 

 

160 square meters is P560,000 - P1,264,00 for the land.

 

You can build a really nice house the way you want for P4,736,000 - P5,440,000

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smokey

Condo prices rise aprox 10 percent a year.

 

 

 

 

this is the first thing that goes wrong.. first if you sell you pay a real estate commision and lots of taxes which will wipe out the first 20% of your aprox 10% profit,,, buying condo to rent and buying a house to live in are two different things.. and you forgot to factor in the other owners if they are shall we say pigs your value goes does down.. some condo units themselves are great its the building that is a dump...

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Condo prices rise aprox 10 percent a year.

 

 

 

 

this is the first thing that goes wrong.. first if you sell you pay a real estate commision and lots of taxes which will wipe out the first 20% of your aprox 10% profit,,, buying condo to rent and buying a house to live in are two different things.. and you forgot to factor in the other owners if they are shall we say pigs your value goes does down.. some condo units themselves are great its the building that is a dump...

 

 

 

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Athena

Condo prices rise aprox 10 percent a year.

 

this is the first thing that goes wrong.. first if you sell you pay a real estate commision and lots of taxes which will wipe out the first 20% of your aprox 10% profit,,, buying condo to rent and buying a house to live in are two different things.. and you forgot to factor in the other owners if they are shall we say pigs your value goes does down.. some condo units themselves are great its the building that is a dump...

 

Very observant Robert. Although this practice is not unknown in UK, there are a few takers - most people wants the convenience of everything done for them and doesn't seem to factor in that it would reflect in the price. Our last house in London was a very old 10x bedroom dump when we bought it. The building was sound and no visible structural defects but it was made into a bedsit. You'd be amaze how people could live in such squalor. The owner been trying to get rid of the property but had no success. On our first night in the house, I was literally on my hands and knees scrubbing the floor to get rid/lessen the smell. Luckily for us, though the owner have such an appalling taste in d

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DeezNuz

Condo prices rise aprox 10 percent a year.

 

this is the first thing that goes wrong.. first if you sell you pay a real estate commision and lots of taxes which will wipe out the first 20% of your aprox 10% profit,,, buying condo to rent and buying a house to live in are two different things.. and you forgot to factor in the other owners if they are shall we say pigs your value goes does down.. some condo units themselves are great its the building that is a dump...

 

Very observant Robert. Although this practice is not unknown in UK, there are a few takers - most people wants the convenience of everything done for them and doesn't seem to factor in that it would reflect in the price. Our last house in London was a very old 10x bedroom dump when we bought it. The building was sound and no visible structural defects but it was made into a bedsit. You'd be amaze how people could live in such squalor. The owner been trying to get rid of the property but had no success. On our first night in the house, I was literally on my hands and knees scrubbing the floor to get rid/lessen the smell. Luckily for us, though the owner have such an appalling taste in d

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Unfortunately, this practice doesn't translate in PI. No matter how dump the house is, Filipino owner still think it warranted top price. The only way you can get a real bargain in PI is thru distress/emergency sale.

 

The condos I am talking about a brand new bought pre-sale. Before they even break ground.

 

Some condo projects are almost sold out before they go are offered to the public. In my opinion they are a bargain.

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smokey

Unfortunately, this practice doesn't translate in PI. No matter how dump the house is, Filipino owner still think it warranted top price. The only way you can get a real bargain in PI is thru distress/emergency sale.

 

The condos I am talking about a brand new bought pre-sale. Before they even break ground.

 

Some condo projects are almost sold out before they go are offered to the public. In my opinion they are a bargain.

 

 

 

 

 

now that is great for you so we KNOW you have dozens of condos for rent or sale that is great so get them rented and sold ,, you can sweet talk the reasons for buying these tiny condos all day long and unless your inclined to live like a sardine they just are not happening for me and there is not a condo on this whole island i think is worth 100,000 a sq meter the thread is about a HOUSE not your condo empire as far as some condos are sold out before they go offered to the public that does not make them a good deal just cheap small condos/// using your reasoning my house at 425 sq meters is almost 11 condos and 22,000.000 peso for that space and you dont even own the land and if your neighbor has a case of the singing out of tune or raises cockroaches you have to deal with it.. now do you think the people who bought into windland towers have reaped their 10% a year

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