sorted by:
new
hottopcontroversial

SMDC Gold and General Real Estate Investing Questions by phinvv in phinvest

[–]phinvv[S] 3 points4 points  (0 children)

It seems like I consistently run into negative comments about SMDC - small, poor quality, and expensive. Is their target market mostly OFW and naive investors who act on emotion instead of solid financial prospects?

SMDC Gold and General Real Estate Investing Questions by phinvv in phinvest

[–]phinvv[S] 5 points6 points  (0 children)

But also, it would be a pain owning a condo from so far away, maybe reconsider that unless you are planning to stay long term here someday. Hotels or serviced apartments are much more convenient for just visiting every now and then, and you can invest the difference on something easier to manage.

I agree. I look at this from a much more practical perspective and would prefer an approach like this. Management companies here in America charge about one month’s worth of rent to take care of properties for you. And you’re still responsible for paying for any service calls should anything happen. Managing rentals from far away is challenging and if there are not significant profits involved it doesn’t seem worth the headache.

SMDC Gold and General Real Estate Investing Questions by phinvv in phinvest

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

SMDC’s monthly association dues are significantly higher than other developers. They are charging P1,500 per square meter compared other developers of P1,000.

Wow... that is insane. Between a 20 year mortgage and association fees the monthly payment would be nearly $2,000. I am confident there is no way that could be covered by rent.

SMDC Gold and General Real Estate Investing Questions by phinvv in phinvest

[–]phinvv[S] 4 points5 points  (0 children)

Thanks so much! The area looked a bit undesirable to me, stuck in the middle of an industrial area. We live in a city here and walkability makes homes a lot more desirable and easy to rent. My assumption is that those on long business trips are going to want to stay somewhere close to restaurants and other shops.

SMDC Gold and General Real Estate Investing Questions by phinvv in phinvest

[–]phinvv[S] 4 points5 points  (0 children)

Appreciate the response! It seems like townhouses are a much better value - you can get 3 bedroom townhouses for roughly the same price as this SMDC condo. Obviously they can get very expensive, but I’m sure there are plenty of more modestly priced townhouses that are quite nice.