Just a quick update on my “It Can Be Done in the Philippines” Rental Real Estate Philippines investment series. here’s a quick look at the project I have been following that is located right around the corner from my home. It’s moving right along.
See the previous articles in this series at:
I have been spending some time talking with the owner of the company doing these projects and he is an interesting character to say the least.
He’s 80 years young, has three current building projects in full swing (his wife and his son supervise the other two projects) and had at least four more projects in the “will happen” stage to begin on as soon as this one is done.
There’s no opportunity in the Philippines.
How many times have you heard THAT old saw about living here?
You can’t make money with rental property in the Philippines.
Well I certainly don’t find that to be true at all, nor do a great many foreigners and balik bayan Filipinos. Still, when it comes to the Philippines, that’s what THEY say.
Filipino builders are slow, drag their feet, do shoddy, sub-standard work.
Anyone heard those statements before?
Thought you had. They sure are all lies based on my personal investigation, and I can take you around and show you proof.
You can chase pie-in-the-sky dreams, like:
- Multi-level marketing schemes
- Insanely inflated interest rate certificates of deposit (Legacy Group, anyone?), or you can
- Make money the old-fashioned way and build something that will last even for your children.
Don’t believe all the idle chatter you hear … get the facts for yourself.
Update: This article (and the rental units you see pictured here) were both “made” in 2009. I know the owner’s family personally, and I walk past this particular property on a daily basis.
Vacancy? Not Here.
There are four units in this particular project. They were ALL rented out on the day construction was done. Today, 5 full years later, there are still no vacancies and there is a waiting list for the next available unit.
What kind of questions can I answer for you on Rental Real Estate Philippines?