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Rental property formula,... turning a profit?


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Faluango

dude i dont plan on leaving a lot of money to my children we all know when you do that all that does is cause them to fight.... now does this house have marble floors and a spa in the master ??

 

Of course no marble floors or a spa in the master bedroom for 12,000 PHP per square meter but I just want to say that 12k is really not alot of money for what you get. If your thinking about getting a US or Mediterranean mansion for this price then you can try to put a finger up your ass and look up at the sky and make a wish but I don't think it's gonna happen because the quality and materials just aren't the same.

 

You can find some nice and shiney fake marble tiles for this price in your home. Of course no real marble or granite for 12,000 /m², but hey... this is the price for a garage in western europe!

 

beige_faux_marble_tile-rd003ccf34d69402c8a65c95f1ec5a67d_agtk1_400.jpg

Edited by Faluango
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I see you are trying to get your 50 posts in !!

You intend to build a 60 m house for 90,000 pesos ? My cost to build a 70 m house is over 750,000 pesos and i do it for a living

? No, that figure is to simplify things. I am just trying to figure the formula out, if a different amount is necessary or would make things easier, be my guest. I am just trying to figure out how

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Davaoeno
have seen way to many 3 bedroom 2 bath , sala dirty kitchen ,, car port and only 60 sq meters

 

actually most of those only have 1 cr . But dont forget things are very different here. Here in cheaper houses a bedroom will have 3 people in the bed and 4 more on pads on the floor. And no one thinks that they are underpriviledged because of that - they are happy just to have somewhere to sleep

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broden
3 people in the bed and 4 more on pads on the floor.

 

and the beds are pads too

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Davaoeno

and the beds are pads too

 

thanks for that Broden - i forgot that some members here havent yet seen a bedroom in a cheaper filipino house

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Faluango

The last cheap Filipino house I slept in had 3 bedrooms with the master bedroom having a small private bathroom and the 2 other rooms each shared a bathroom with their own door BUT unfortunately there was no guest toilet in the house so everyone had to walk thru one of the bedrooms to go to the toilet. The shared bathroom was only connected to the 2 bedrooms and not to the livingroom or anything

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Davaoeno
everyone had to walk thru one of the bedrooms to go to the toilet

 

 

as they say life is more fun in the Philippines ! lol

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Faluango

Would be nice if we would open a thread where everyone can post pictures of the homes they build in the Philippines and how much they paid the contractor to finish it

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broden

Would be nice if we would open a thread where everyone can post pictures of the homes they build in the Philippines and how much they paid the contractor to finish it

 

smokey always wins those

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smokey

Of course no marble floors or a spa in the master bedroom for 12,000 PHP per square meter but I just want to say that 12k is really not alot of money for what you get. If your thinking about getting a US or Mediterranean mansion for this price then you can try to put a finger up your ass and look up at the sky and make a wish but I don't think it's gonna happen because the quality and materials just aren't the same.

 

You can find some nice and shiney fake marble tiles for this price in your home. Of course no real marble or granite for 12,000 /m², but hey... this is the price for a garage in western europe!

 

beige_faux_marble_tile-rd003ccf34d69402c8a65c95f1ec5a67d_agtk1_400.jpg

 

 

 

 

no i dont think so i have seen some pretty nice garages. go into the world make your mark and save your money and then come back and if you want to live like a local feel free... but make sure you get a huge lock for the refrigerator

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smokey

dude instead of p*orno i will let you have a picture of my refrigerator

 

 

post-35-0-41394300-1340075804_thumb.jpg

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Faluango

dude instead of p*orno i will let you have a picture of my refrigerator

 

 

post-35-0-41394300-1340075804_thumb.jpg

 

That's a Samsung, right?

 

I got the same here. Have a problem with the water source

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smokey

That's a Samsung, right?

 

I got the same here. Have a problem with the water source

 

 

 

 

maybe the owner of the unit put a lock on the water so foreigners would not take it.?? did you check to see if he has a lock on the one that followed you home

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OP's question is about a possible monthly rental on long term rentals. If rented out on short term the rental could be increased. But of course it means more attendance etc etc

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smokey

the rental business to ME is a headace.... just across from where i live now an investor buys a house puts new carpet ,,, paints the whole place , put some fans inside looked pretty good.... along comes a renter she pays 900 us a month ( with help from the government ) she moves in brings boyfriend,, about 6 young people could be kids or family 4 dogs,, two pit bull and two tiny furry things , always loud music coming from there well one day she is GONE>>. left the dogs but moved over a holiday weekend stayed 7 months the place now NEEDS new carpet,, new paint ,, lots of repair and smells like dog... i say an easy 6,000 if he gets real cheap carpet,, so where is the big profit

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Faluango

the rental business to ME is a headace.... just across from where i live now an investor buys a house puts new carpet ,,, paints the whole place , put some fans inside looked pretty good.... along comes a renter she pays 900 us a month ( with help from the government ) she moves in brings boyfriend,, about 6 young people could be kids or family 4 dogs,, two pit bull and two tiny furry things , always loud music coming from there well one day she is GONE>>. left the dogs but moved over a holiday weekend stayed 7 months the place now NEEDS new carpet,, new paint ,, lots of repair and smells like dog... i say an easy 6,000 if he gets real cheap carpet,, so where is the big profit

 

First of all the investor is an idiot to allow dogs in a house with a carpet and by the way, repainting the inside of a home in the Philippines is VERY cheap, especially if you just made 7 months of 900 US$ rental income and collected money from the rental deposit due to damage.

 

The only serious home owner I know in the Philippines repaints his homes immediately when a tenant moves out - even if the unit is still clean he will get the paint out and fix even the smallest little mark on the wall. His units are always VERY clean when a new tenant moves in and if there is any damage made to the paint/walls/floor he deducts it from the tenant's deposit. This is normal - and the home owner shouldn't complain if any damage is made because he gets money for it.

 

Renting property in the Philippines can be profitable, if you do it wisely.

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