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Distress sale.... house and lot


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DeezNuz

I never could understand the condo living thing...I've only owned one condo and that was in Long Beach, California overlooking the Marina. Purchased it in 2004 for USD $230k and sold it for $330k the following year. I was still new to real estate but got my ass waxed on the taxes for selling so soon.

 

This thing was small..800 SQFT and the only advantage it had was that it had a cool view. The HOA was $300 a month and my neighbors were dipshits.

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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

I never could understand the condo living thing...I've only owned one condo and that was in Long Beach, California overlooking the Marina. Purchased it in 2004 for USD $230k and sold it for $330k the following year. I was still new to real estate but got my ass waxed on the taxes for selling so soon.

 

This thing was small..800 SQFT and the only advantage it had was that it had a cool view. The HOA was $300 a month and my neighbors were dipshits.

 

 

 

 

 

well compared to what they sell here that is HUGE condo in manila they are always handing out these flyiers 2 bedroom 2 bath condo 42 sq meters .. i said 42 sq meters she said yes sir and it has a 4 sq meter balcony and that was part of the 42,, now as a rental investment it could work out but a place to live jail cells bigger then them bedrooms

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DeezNuz

I was talking with Ed Robinson a few weeks ago and he was showing me around his new building. Robinland. He was giving me a tour of the 9th floor which will have the condos...P90,000 SQM fully furnished with a two bedroom being around 50SQM.

 

I felt like a pinball as I bounced off the walls/door jambs/corners while making my way through the unit. Take note, this was still under construction, no furniture yet.

 

They just don't make them FAT People friendly here in Cebu. Something they should consider since its typically the foreigners that purchase them.

 

I'll stick with a house. At least I can rip a big fart and not disturb my neighbor next door.

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broden

I was talking with Ed Robinson a few weeks ago and he was showing me around his new building. Robinland. He was giving me a tour of the 9th floor which will have the condos...P90,000 SQM fully furnished with a two bedroom being around 50SQM.

 

I felt like a pinball as I bounced off the walls/door jambs/corners while making my way through the unit. Take note, this was still under construction, no furniture yet.

 

They just don't make them FAT People friendly here in Cebu. Something they should consider since its typically the foreigners that purchase them.

 

I'll stick with a house. At least I can rip a big fart and not disturb my neighbor next door.

:thats-funny: you sure about that?

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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

 

 

Sorry about jacking your thread about selling this house and talking about condos. Blame it on Washingtonian for talking about Real Estate investing in Cebu.

 

If your house is worth 22M yeah that would be 11 condos. 11 condos could bring in a monthly rental of P220,000 - P275,000. I just think it would be easier to rent out 11 condos than 1 house for that amount. Or sell 11 condos than 1 monster house.

 

I keep a city condo as my bachelor pad, but I agree I enjoy living in a nice house. I think cheap small condos are good investments because there is a bigger market to rent them out to.

 

I am sure the Windland Condo owners made their money back and earn a good passive income.

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I was talking with Ed Robinson a few weeks ago and he was showing me around his new building. Robinland.

 

 

Something they should consider since its typically the foreigners that purchase them.

 

 

 

 

Yeah I checked out those new condos at Robinland. If they make small studios they will do well for rental to CDU students. They will be open to the public on the 18th.

 

There is a big enough Asian foreigner market with out having to cater to white foreigners. The Chinese and Koreans are buying up most of the new projects.

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I was still new to real estate but got my ass waxed on the taxes for selling so soon.

 

Yeah they don't have those Flipping Real Estate Investment - California Real Estate Taxes here in the Philippines.

 

The law here is in favor for flipping real estate to make it tax exempt for the sale of residential lot valued at One Million Five Hundred Thousand Pesos (P1,500,000.00) and below, or house & lot and other residential dwellings ( Condos ) valued at Two Million Five Hundred Thousand Pesos (P2,500,000.00) and below.

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smokey

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

 

 

Sorry about jacking your thread about selling this house and talking about condos. Blame it on Washingtonian for talking about Real Estate investing in Cebu.

 

If your house is worth 22M yeah that would be 11 condos. 11 condos could bring in a monthly rental of P220,000 - P275,000. I just think it would be easier to rent out 11 condos than 1 house for that amount. Or sell 11 condos than 1 monster house.

 

I keep a city condo as my bachelor pad, but I agree I enjoy living in a nice house. I think cheap small condos are good investments because there is a bigger market to rent them out to.

 

I am sure the Windland Condo owners made their money back and earn a good passive income.

 

 

 

 

 

show me anyone who made 10% a year at windland anyone.... them condos were 3 to 5 million 10 years ago and they are still the same prices and pardon my french but were are you getting 22 to 27.000 a month rental i see units over there for rent furnished for 14 to 16,000? and my point is my house is not worth 22 by a long shot as a matter of fact i could turn my house into condos i already have a 5th floor view

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smokey

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

 

 

Sorry about jacking your thread about selling this house and talking about condos. Blame it on Washingtonian for talking about Real Estate investing in Cebu.

 

If your house is worth 22M yeah that would be 11 condos. 11 condos could bring in a monthly rental of P220,000 - P275,000. I just think it would be easier to rent out 11 condos than 1 house for that amount. Or sell 11 condos than 1 monster house.

 

I keep a city condo as my bachelor pad, but I agree I enjoy living in a nice house. I think cheap small condos are good investments because there is a bigger market to rent them out to.

 

I am sure the Windland Condo owners made their money back and earn a good passive income.

 

 

 

 

 

show me anyone who made 10% a year at windland anyone.... them condos were 3 to 5 million 10 years ago and they are still the same prices and pardon my french but were are you getting 22 to 27.000 a month rental i see units over there for rent furnished for 14 to 16,000? and my point is my house is not worth 22 by a long shot as a matter of fact i could turn my house into condos i already have a 5th floor view/// foreigners like space to move to burp and to fart to let the little lady sing a tune or pitch a fit... maybe we are spoiled but them are the facts...

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Markham

Back to the original topic, this house is now apparently sold. But as the buyer has to raise a loan, the seller - desiring a quick sale - will consider a cash offer in excess of PHP6.2 million.

 

 

 

Mark

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smokey

Back to the original topic, this house is now apparently sold. But as the buyer has to raise a loan, the seller - desiring a quick sale - will consider a cash offer in excess of PHP6.2 million.

 

 

 

Mark

 

 

 

 

i am looking at the house from my house right now and i did not know that...dang your good mark can you tell me what i water bill will be this month??

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Markham

i am looking at the house from my house right now and i did not know that...dang your good mark can you tell me what i water bill will be this month??

 

Quite simple. Mae is looking at properties and went to see that house the other day and spoke with the owner. If you have the ready cash, it's actually quite a bargain, with seven bedrooms each with own bathroom, and certainly far better value than the three bedroomed row houses that have just been finished at Villa Terrace, Mandaue. The developer wants a staggering PHP14 million for each one and they're being sold without any appliances, furniture or aircon.

 

Your water bill is likely to be about the same as it was last month :biggrin_01:

 

 

 

 

Mark

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smokey

i am looking at the house from my house right now and i did not know that...dang your good mark can you tell me what i water bill will be this month??

 

Quite simple. Mae is looking at properties and went to see that house the other day and spoke with the owner. If you have the ready cash, it's actually quite a bargain, with seven bedrooms each with own bathroom, and certainly far better value than the three bedroomed row houses that have just been finished at Villa Terrace, Mandaue. The developer wants a staggering PHP14 million for each one and they're being sold without any appliances, furniture or aircon.

 

Your water bill is likely to be about the same as it was last month :biggrin_01:

 

 

 

 

Mark

 

 

 

 

7 bedrooms?? dang what was he thinking until recently he was a single guy ... guess he planned on filling his home with poor disadvantaged students.. kind of like a club house with a view.. but your right it is a good deal i was thinking of trying to buy it but i will be needed to buy a condo for the wife to stay in when she ever gets the visa thing done...

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Markham

7 bedrooms?? dang what was he thinking until recently he was a single guy ... guess he planned on filling his home with poor disadvantaged students.. kind of like a club house with a view.. but your right it is a good deal i was thinking of trying to buy it but i will be needed to buy a condo for the wife to stay in when she ever gets the visa thing done...

 

The number 7 is considered "auspicious" in some Asian cultures including the Chinese - hence there will eventually be 7 towers at Citylights. Mae tells me he appears to be single but has at least one helper. It's a nice house by all accounts but built to within a couple of metres of its boundary fence. If I'm going to spend that kind of money, I'd want a bit of a garden with some shade trees and foliage to break-up the acres of concrete. That house might make an ideal B&B.

 

 

 

Mark

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musicman666

7 bedrooms?? dang what was he thinking until recently he was a single guy ... guess he planned on filling his home with poor disadvantaged students.. kind of like a club house with a view.. but your right it is a good deal i was thinking of trying to buy it but i will be needed to buy a condo for the wife to stay in when she ever gets the visa thing done...

 

The number 7 is considered "auspicious" in some Asian cultures including the Chinese - hence there will eventually be 7 towers at Citylights. Mae tells me he appears to be single but has at least one helper. It's a nice house by all accounts but built to within a couple of metres of its boundary fence. If I'm going to spend that kind of money, I'd want a bit of a garden with some shade trees and foliage to break-up the acres of concrete. That house might make an ideal B&B.

 

 

 

Mark

 

never heard of 7 meaning anything at all in hong kong ...maybe you are confusing it with 8??

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