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Rental property formula,... turning a profit?


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smokey

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

 

The only serious home owner I know in Cebu, repaints each one of his units immediately after the tenants moves out.

 

 

 

did you fall as a child.... first renting a townhouse in the Philippines for 900 a month it better be a great townhouse and second carpet does not happen in the Philippines except for Baguio and third i guess you never meet a renter that lied??? you try kicking out a single mother of color from a home dude its like an act of god to get anyone to do it... This lady was so mean she would kick your ass if you tried to kick her out,,, didn't you break YOUR lease ??? and just how many homes in the Philippines do you own ??? to say repainting is cheap ? Yes it can be but so is the rent collected you pitched a fit at PAYING 12,000 peso what is that under 300 a month ,, you know if you want to buy a bunch of rental to each his own....

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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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Brucewayne

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

 

 

 

The way I was told in the states, if you rent to anyone, make sure they have good references, no dogs/pets, keep the rent high enough to dissuade their type, charge a large deposit and "monkeyproof" the unit.

Stay on the cheap side as much as possible on rental houses because things do tend to be destroyed.

Oh, and bolt the appliances to the floor or wall.

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smokey

The way I was told in the states, if you rent to anyone, make sure they have good references, no dogs/pets, keep the rent high enough to dissuade their type, charge a large deposit and "monkeyproof" the unit.

Stay on the cheap side as much as possible on rental houses because things do tend to be destroyed.

Oh, and bolt the appliances to the floor or wall.

 

 

why so the renter dont take the refrigerator ?????? The problem is if your sitting on a house its empty that is NOT a good thing you still have payments ,, electric ,, water,,, etc and it can become a cool place for druggies to hang out... its not hard to spot the empty houses the latest thing in the usa is stealing the compressor units from the AC the dopers sell them for 80 to 130 dollars for scrap but a new one cost over 3,500 dollars...

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Faluango

did you fall as a child.... first renting a townhouse in the Philippines for 900 a month it better be a great townhouse and second carpet does not happen in the Philippines except for Baguio and third i guess you never meet a renter that lied??? you try kicking out a single mother of color from a home dude its like an act of god to get anyone to do it... This lady was so mean she would kick your ass if you tried to kick her out,,, didn't you break YOUR lease ??? and just how many homes in the Philippines do you own ??? to say repainting is cheap ? Yes it can be but so is the rent collected you pitched a fit at PAYING 12,000 peso what is that under 300 a month ,, you know if you want to buy a bunch of rental to each his own....

 

Dude, YES I broke my lease cuz I didn't like the place and the owner took my 2 months deposit. What's wrong with that..

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Brucewayne

why so the renter dont take the refrigerator ?????? The problem is if your sitting on a house its empty that is NOT a good thing you still have payments ,, electric ,, water,,, etc and it can become a cool place for druggies to hang out... its not hard to spot the empty houses the latest thing in the usa is stealing the compressor units from the AC the dopers sell them for 80 to 130 dollars for scrap but a new one cost over 3,500 dollars...

 

 

Has the rental business in the sates become so bad that rental houses are standing empty and the rent is down to $900 a month for a townhouse?

I just can't imagine that one not renting for at least $1,500 per month unless it is in a financially depressed neighborhood.

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Davaoeno

Dude, YES I broke my lease cuz I didn't like the place and the owner took my 2 months deposit. What's wrong with that..

 

Hopefully that didnt cause you to miss a payment on your Lamborghini !

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smokey

Dude, YES I broke my lease cuz I didn't like the place and the owner took my 2 months deposit. What's wrong with that..

 

 

well did they CHECK YOUR REFERENCES ??????????????????????

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Davaoeno

well did they CHECK YOUR REFERENCES ??????????????????????

 

I'm sure he could have got his butler from his $5 million usd waterfront european mansion to write him a reference !

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WONINTWO

Exactly, if you worked hard all your life you deserve to retire in style and spend that extra 6000 pesos per square meter.

 

Just what I want to say is that you can get a decent single storey house with Filipino kitchen and bathroom for 12,000 PHP per square meter, like this:

 

1315477624_223674294_1-Pictures-of--Beautiful-Dumaguete-Bungalow-Homes.jpg

 

So 70 m² would cost you a approx 850,000 PHP

Could you PLEASE show me EXACTLY where I can get a place like this for P850,000? The places I have seen for P850,000(E14,500/$20,000)have been 1/3 that size(25-30 sq. mtrs.)and are quite laughable.This seems actually do-able for that price.

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Davaoeno

Could you PLEASE show me EXACTLY where I can get a place like this for P850,000? The places I have seen for P850,000(E14,500/$20,000)have been 1/3 that size(25-30 sq. mtrs.)and are quite laughable.This seems actually do-able for that price.

 

first of all no one said you could buy a place like that for 850K - they said you could build a place like that for 850K . Where ? just about anyplace in the Philippines

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WONINTWO

first of all no one said you could buy a place like that for 850K - they said you could build a place like that for 850K . Where ? just about anyplace in the Philippines

 

That is incorrect,the post I responded to says:"YOU CAN GET A PLACE LIKE THIS FOR P850,000." That is exactly what the post says. I am still hoping to hear from the person I asked.

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Davaoeno

That is incorrect,the post I responded to says:"YOU CAN GET A PLACE LIKE THIS FOR P850,000." That is exactly what the post says. I am still hoping to hear from the person I asked.

 

 

have it your way . btw - how is life in OVER THERE ??

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WONINTWO

have it your way . btw - how is life in OVER THERE ??

 

LOL! Like that HUH? Look,a monkey!

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A_Simple_Man
"YOU CAN GET A PLACE LIKE THIS FOR P850,000." That is exactly what the post says. I am still hoping to hear from the person I asked.

 

Yep, you and me and everyone else. Thats because no one has seen a house like that for sale for 850 in recent memory. Hell, I'll bid 855! What financing 'schemes' are they offering?

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Davaoeno

Yep, you and me and everyone else. Thats because no one has seen a house like that for sale for 850 in recent memory. Hell, I'll bid 855! What financing 'schemes' are they offering?

 

 

This whole discussion was about how much it would cost to BUILD a house here- no one was talking about the cost of buying a house and lot.

 

Faluango said that you can build a 70 sq m house for 850,000 - and I agree with him. In fact I said i can build a 70 m house for 750,000- and i posted pictures of one that i have already built , along with pics of the floorplan of ones that I am about to build

 

What i think is misleading, and what has caused this problem with people believing some posts - is that the picture that Faluango is NOT of a 70 m house. I would say that it is more like 100 m . And my cost to build that would be about 1,100,000

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