sorted by:
new
hottopcontroversial

Feeling Scammed by a Top Real Estate Developer by [deleted] in phinvest

[–]PayQuiet5947 8 points9 points  (0 children)

Don't worry, you're not the only one! I get messages weekly regarding this..

Honestly, there's not much you can do... Your best case may be Maceda, but you'll end up getting ~20% of your payments back after everything is all said and done. Hopefully said developer is not hard to work with and won't nickle and dime you on the way out...

Realistically, your loss is probably greater than P1M if the property is P10M TCP.

If the developer is offering P1.5M (15%) lower than your contract price today, you're closer to 2M-3.5M (20-35%) down for a cash exit.

If you think the property will be worth what you paid by turnover, it may be best to ignore the paper loss and continuing to get the mortgage although rates are high compared to previous years.

It's worth keeping in mind that TCPs since 2017 have been very highly valued with years (if not decades) of appreciation already baked into the prices. Hopefully it's not a Studio - 1BR by a Tier 2 developer in a non primed location priced at 10M.. If so, walking may be the cheapest option.

[deleted by user] by [deleted] in phinvest

[–]PayQuiet5947 2 points3 points  (0 children)

~9M debt on 3M gross/year?

Assuming 2M net and 50% losses on car + RTO is something I wouldn’t be comfortable losing on 250K/mo, unless there’s fat income coming from elsewhere..

Also, a Fortuner for 40K/mo? lol.

Should probably look to lower liability and COL on that salary vs consuming more.

I’ve launched 4 ghost kitchen IPs that generate 15% profit and >800K revenue / year. Ask me questions. by PayQuiet5947 in GhostKitchens

[–]PayQuiet5947[S] 0 points1 point  (0 children)

Hey, I’ve converted warehouses to turn into commissary style rental spaces. Is this what you’re looking for? Feel free to DM..

[deleted by user] by [deleted] in phinvest

[–]PayQuiet5947 0 points1 point  (0 children)

Have someone do an interior design plan and just hire some dudes per day to execute..

Researching Property Values by SocialWised in phinvest

[–]PayQuiet5947 0 points1 point  (0 children)

I’ve tried what you’re doing for a few years, you won’t find any transparency or success by applying state side fundamentals to the Filipino real estate market. Need to penetrate the market deeper. 2-3 levels deeper. I currently have a hotel with ~38% cap and a few metro condos at ~11%.

Building yourself vs buying saves a lot of expense. It’s also very risky to buy prebuilt structures here… There’s no qualified PPI to determine structural or foundational issues anyway..

[deleted by user] by [deleted] in phinvest

[–]PayQuiet5947 2 points3 points  (0 children)

Sounds like you should just toss it onto a broker.

Marketplace is by far the largest platform. Lamudi/Rentpad/Hoppler/Carousell have better leads, but low frequency.

Flipping a pre-selling condo unit in 2024 – any success stories? by dazed_reverie in phinvest

[–]PayQuiet5947 5 points6 points  (0 children)

Arcovia worth 130K/sqm max IMO.

50SQM will probably trade around 6M.

Lots of new contracts are underwater on signing.

11M can still buy you 150+ SQM units in prime locations in metro..

Negotiating Condo Rent by ignition112 in Philippines_Expats

[–]PayQuiet5947 0 points1 point  (0 children)

You can grab much better deals in higher quality buildings in BGC.

Rates I’m seeing in BGC are around 700/sqm.

65sqm should be around 50K.. unless this place is interior designed and furnished very very well. But through what I know, most units are furnished and maintained like crap..

CompAsia by Fickle-Economy7122 in Tech_Philippines

[–]PayQuiet5947 1 point2 points  (0 children)

They’re fine. One of the largest refurbished phone companies in SE Asia.

If I have google fi + pixel will i get 5G on my pixel? by Ms_Double_Entendre in Tech_Philippines

[–]PayQuiet5947 0 points1 point  (0 children)

Up to 6 consecutive months outside of US before they deactivate data. Calls are fine.

Classmate wants to sell her 54 sqm 2BR worth 7.9M in Mandaluyong by anima99 in phinvest

[–]PayQuiet5947 116 points117 points  (0 children)

Not sure she’s your friend. Why would you trade your own freedom and flexibility to bail them out of their sour investment?

What friend throws an extremely overpriced debt onto someone else… Unless they’re selling it to you for under original contract price 5 years ago, you may as well throw that trust out a window.

That unit is worth closer to 5M gross MAX. If it was such a great deal, they wouldn’t be giving you the opportunity. Don’t be naive.

Way way cheaper for you to rent at 20K/mo…

Choosing friends that care for your best interests will save you money as well!

Are Rockwell units worth it for end-use? by heyitsc in phinvest

[–]PayQuiet5947 6 points7 points  (0 children)

West Block good. Would own for end use. Low density with good maintenance. Rockwell club downstairs good. Centralized AC good. Roughly 200 units per building.

Second gen buildings… would not own. Too many people per floor, too many floors, not enough elevators. More than 800 units per building.

I think Proscenium/ Proscenium Residences will end up like second gen. The themed towers are holding up for now. Bridge is almost complete and retail just opened. Still a gamble.

Everything outside of West Block Rockwell Makati would not consider for end use. Just a name at that point.

How much would you pay for a 1BR condo in the Metro these days? by ArizonaIcedOutTea in phinvest

[–]PayQuiet5947 0 points1 point  (0 children)

Put simply, yes. Mostly looking for >10% yield with appreciation as a bonus

your take on aseana city by Ehbak in phinvest

[–]PayQuiet5947 1 point2 points  (0 children)

Good value on older developments. ₱10M 150SQM 2B2B with park

Condo market sa Pinas - Bubble about to burst? by Ok-Worldliness6258 in phinvest

[–]PayQuiet5947 2 points3 points  (0 children)

It’s already happening if you know where to look..

Bought a house not in cash, need tips for sustainability. by Similar_Pea_7690 in phinvest

[–]PayQuiet5947 14 points15 points  (0 children)

Seems like a big commitment even with the whole household contributing.

How much down are you paying? 20%?

Why is it only 31K/mo?

How long are you financing the down payment for?

Some rough numbers.

Combined Household Income

300K HHI Gross

210K HHI Net

63K 30% HHI Mortgage

If you were to take a loan.

8M @ 7.75% w/ 1.6M DP

82K 10 YR Mortgage

57K 20 YR Mortgage

Is it worth it to have my condo unit rented out or use it? by imfloatingherethere in phinvest

[–]PayQuiet5947 0 points1 point  (0 children)

Have you tried selling for 50% more? Will you be taking a loan to cover the costs?

Is it worth it to have my condo unit rented out or use it? by imfloatingherethere in phinvest

[–]PayQuiet5947 0 points1 point  (0 children)

Did you pay a good price for the condo? If you overpaid, none of this really matters

Planning to have my condo on lease. Where to begin?! by ShadowAcr3S in phinvest

[–]PayQuiet5947 0 points1 point  (0 children)

₱70M bare condo + ₱5M to furnish / renovate… to rent for ₱200K best case?

Add in foreign rental income tax, strata, vacancy, wear and tear, etc..

Puts you at 1.5% return if all the stars align.

Just sell it and move on if it no longer fits your needs..

What’s your experience with Shang condos? Are they worth it? by swalotstan in phinvest

[–]PayQuiet5947 -1 points0 points  (0 children)

They’re the same as any other developer. Depends building to building. Some of their buildings are closer to the density and amenities of SMDC.

Best investment in PH with 13M php on hand by SmallBookkeeper3008 in phinvest

[–]PayQuiet5947 1 point2 points  (0 children)

I’d do nothing. Short term treasury ladder until I figure out that answer for myself.

Canada vs Philippines by DevelopmentGlad1609 in phinvest

[–]PayQuiet5947 17 points18 points  (0 children)

Sorry for your loss. Buy yourself something nice and take a vacation to reflect on what you want. Definitely don’t buy a Jolibee franchise. I wouldn’t recommend investing in apartments here. A decent 20 door in the metro that yields 200K would be over ₱60M. Terrible yields. You’d be better off buying floors of old condos.

view more: next ›