Though I enjoy your content, there's something that doesn't sit well with me about these women and their families trying to get me to buy land, houses, or businesses there. At the moment I have no plans to live there. I've visited many times but after 2 weeks, I'm ready to come back to the USA. It's easy to see how many expats go broke after moving there.
you go broke if you stupid with your money. you come here for 2 weeks and they want a house your hanging out with the girls that are right for tonight not a lifetime
@@michaelwest2863 it's a double edge sword. We need them poor or they wouldn't want us....but it comes with a family of poverty that also want some of what you have.
@michaelwest2863 trying and forcing you are two different things...2 weeks, and your done? What are you doing there for 2 weeks? Are you trying to immerse yourself in the culture or just a quick fun trip? The Phillipines definitely is not a retirement country for everyone... 👍 👌
"I trust Janet completly." I would never utter those words about any woman. People now days are never loyal forever. Maybe for a time they are loyal, but in the future things could change.
@@roswoAlso suppose he goes into a compromised state in a few years. I really don't think it's fair to expect a young woman to assume nurse maid for what could go on for a decade or more.
One last thing you said your the happiest you’ve ever been in your life. I’ve been with my wife for ten years and I’m the happiest I’ve ever been in my life.
you guys are depressing i have always been happy. Its how your attitude shows.. i choose happy always have and will. its not dependent on the wife or others..
Your wife is naive and has the fiscal sense of a child. Stop trying to parent her and teach her fiscal responsibility. One year after you're gone all the money will be too.
If we learned anything since the feminist movement, it’s that women for the most part aren’t co- dependent anymore. they can financially take care of themselves, before the sixties women endured marriages whether they liked it or not, they had no choice, as far as any timetable on when you can “trust your spouse “ there isn’t one. sometimes you just have to roll the dice and trust your gut. otherwise no use looking for a relationship, might as well sit on the sidelines 😂😂 we’ve all been burned at one time or another, it’s like anything else in life, you gonna pick yourself up and try again or go cry in a corner,?🤷♂️
That property location looks great and very green with healthy vegetation Janet has a good head on her shoulders and presents as a dignified and intelligent woman who will honor your sacrifice in the years to come.
My advice to anyone looking for a Filipina to look after them in their old age is to find one who is already doing it. Look for one that is working in a Philippine nursing home, or is a live-in caregiver for a disabled elderly person. It's best that she has some years of experience doing this. This is actually the only Filipina that will know what she's getting herself into. Any Filipina will tell you they will take care of you in your old age but few will actually do it. And the younger and prettier she is the less likely she is to actually fulfill her promise. Taking care of an old man is difficult at best.
You think you're buying a loyalty, or obligation, or a caretaker ,but, once she's paid... she'll be thinking what's next? It's nature. If you want good care, always suggest the idea of some future benefit.
The best deal is a fifty foot sailboat or trawler. You can own it, and the entire philippines is your back yard. Then if you decide too, you can sell the boat. If you die she will not have any funeral expense. She can take you out to sea, and bury you there. I regreat buying a house,
I retired and moved abroad. The Philippines and Thailand were high on my list until I learned that you can't own property. Buying something that you can never own is risky at best. You have a great relationship and I am very happy for you and Janet. But things can and sometimes do change. I'm married and own my place out right. My wife and I have a great relationship. But she has no rights to my investment until I'm gone. Then she can do whatever she wants with it. Relationship for men are about love. For women, it's about leverage. Wishing you the best.
I married my Filipina one year ago after 5 years of dating and visiting multiple times . And I also would trust her with my life and well being as I get older . I’m 63 and she’s 48 , and I will. Make sure that her and her family are well taken cared for after my demise. They are the most honorable people I have ever known . Maybe I’m just lucky , but I know in my heart they are very much deserving of anything I can help them with.
I totally agree with you Mike... a good relationship should from a man to want to provide for his filipina. Still, it's a good idea to have a lawyer build into the sale of property and prenup a Lease to protect the man from being forced out of his home should something go awry in the relationship. Great video!
Been with my Pinoy wife over 25 years, married 19, met in HK where she was a domestic helper supporting her son. In 2014 I purchased a lot for her of 3,000sq/m next door to her mum and after sitting on it we have now built a nice house and stared a small rice farm. This I did for her, not me. I needed to know when I'm gone, she will have enough to live comfortably. the way I look at it, is, if I can't trust my wife, why would I still be with her? I trust her with my life, and she's never given any reason not to. Yes, 2M is a lot of money, but I'm confident you wouldn't do it if it was to leave you short. I've been fortunate working 28 years in HK, so our place cost a little more. But I wrote it off as its hers to enjoy and do with as she feels fit.
That’s awesome you are forward thinking concerning your wife. It’s easy to see she loves you and only fair to make sure she is ok when life happens. Thank you for the great content.
I watched a previous video and it was mentioned that it could be bought as a business transaction. I just want to retire there and make the most of my retirement. With my wife, I have vetted her well, and we have already had a discussion of living within our means. I want to ensure that my family is set up and she is prepared for a long time after I am gone. Great information video, Mike.
My wife has a 1k sq. meter lot with 2 houses on it. The smaller 3 bedroom semi native one cr and the other 140 sq. meter, 3 bedroom, 3 cr. No debts. The lot is fully fenced and gated.
So what does that mean? Then location comes into play, and the neighborhood quality...data you provide does not provide much of a picture...but heading in good direction, depending....
Coconut trees are an asset. You can always sell the coconuts foreigners. Don’t understand that also, it’s easier just to do a raised bed garden. see you around mike you can buy me a cup of coffee lol.
Yeah, but just don't assume any Filipina is going to show you compassion in your old age. Always remember, a Filipina's biological family will ALWAYS come first. No matter what she tells you, you will ALWAYS be last.
Good luck with your new property Mike.. hope it goes smoothly and you both happy with you purchase. Hope you can find a dependable builder later to build the home you and your wife want.. all the best..
My "wife" and I have properties that we've invested in since 2012 when we purchased. We have been together 18+ years. That type of realtor I would immediately turned and left without saying a word.
Good attitude. If I ever buy any asset in the Philippines, it will be something I am willing to walk away at a short notice. I am not at that stage yet, so I am not buying any piece of property in the Philippines 😂
This is the first time I've heard anyone address the education of a phillipina on saving and long term planning. I hope she is a good student of what you are teaching. Thank you
Like you I'm also the happiest I've ever been in my life by being in the Philippines with my beautiful Filipina sweetheart! It's too bad that it took so long for us to get here Mike.
I've noticed you see a place on market place and every agent has a different price. A lot of these agents sell everything from chickens to houses. I've seen the house price change on marketplace a hour after you enquire. I don't know what to think.
If the agent introduced you to the property, then you'll likely be legally obligated to pay a commission to them. So you may as well negotiate through them ... plus the agent can help to "talk the owner into" accepting a lower offer
@@Eduardo-m2i I believe you I’m married to one of these Philippine women. She lives with me here in the states. She helped get one going for one of her sisters lots of these sari sari stores.
land is so expensive here! an example. cheap would be 2500php per sq meter. 4046 sqm to an acre. 4046X2500=10115000 php. so $171,340 per acre. that's just crazy!!
I’ve been married 40 years and have purchased a few properties in the Philippines my advise is to be careful lots of time there are multiple owners especially if the property was inherited every child gets a piece and the attorneys drag the cases out forever you and your wife probably have the best intentions but their are a lot of unscrupulous sellers there buyer beware do your homework
Very informative video. I’ll be in Duma in January and will be looking into the land situation there, as my wife is eager to move back to Duma after being with me in Canada for 11years
Whether you are married or not, never spend more than you are willing to walk away from. Always remember that you are a guest in the philippines and can be asked to leave at any time for any reason. Land disputes are one of the main reasons why people are killed in the philippines and if you don't do your due diligence with a real estate attorney to make sure that the person selling it actually owns it and that the title is clear. Mother title properties are a major gamble unless you do your homework and make sure everyone involved has signed off on the property. Green dot properties are ones that have been cleared for a legitimate sale and have a clean title with no liens on it .
Congratulations! There's 1 issue that needs to be clarified - the subdividing of the property is great because all heirs signed out the 700 sqr meters you're buying, however the signed subdividing document should derive a separate title of the 700 sqr meters property upon payment in full of the property under the name of Janet and others (if other names should be added to the title), issued by the Register of Deeds of Dumaguete City or the province of Negros Oriental, whichever has legal authority to issue the title, said original or certified copy of the title handed to Janet during the final payment. Do not agree to buy the property based on the signed subdividing of the property by all the heirs; absence of title will create legal complications you would not want to deal with. Good luck.
If you buy a lot with a house on it, agree to allocate the largest possible reasonable portion of the purchase price to the house, which you lease. I have some very specific plans in mind for my Filipina and her 3 daughters to secure their future. Stay well.
When I retired and took out my pension one of the stipulations was my wife will get 100% of my pension for the rest of her life when I pass. At present that is half of my income so she should be set for life.
Great video, and I salute you for taking care of your lady as she will indeed be far more likely to survive you. And yes, cash money will get eaten by friends and family... A few observations: - If you are financing the purchase, make sure that you can walk away from it, without it impacting your financial security, and without you shedding tears. In other words; protect yourself. - Apart from the skin tax, beware of capital gains that the seller may want you to pay. Yes, some sellers will want you to pay their tax when selling the land to you. - Lastly; make sure there is unimpeded and everlasting right of way. If your property can only be reached over a private road or land; walk away.
Hi Mile, good to see you and I fully agree but there is one thing = The location. IF you actually planning to build a house and live there during old age, I guess it better be, if possible, somewhere with a near by hospital .
Skin tax doesn't matter. You're going to negotiate the price anyway!!! Go back and tell the so call agent that your offer is @$2,200 and have him take to the owner
Mike, this goes along with the member live about trust. You fully trust Janet 10000000000 % and want to make sure she is in a good place after your gone.
Yeah, I think I will do something like build a house eventually but before I do that, I want to go into Social Security office and sit down and talk with them about my fiancée’s social Security to see how much I can contribute and how much will she get when she decides to draw from it good video lots of food for thought. I know Paul old dog is having a hard time with the contractor following through. He did a video about it and I think he’s gonna do a few more videos so yeah you have to be careful.
Hi Mike, dont know if its a agricultural lot ore residential, I know its a lot off paperwork to change it but I would do it, if you dont want to do that think off building a bigg cubo there, succes💪
No you're not crazy my friend.. you are a very good unselfish man.. not that way with most foreigners living in the Philippines.. I could never repay my Filipino wife for all the happiness she had brought me over the last 6 years.. if I would win the Powerball and give her all the money I would still owe her that much and more.. she has made me the happiest I have ever been in my life and I am 70 years old also..
same here been married for 8 years to my young wife and no woman I have ever been with in the states comes close to her in what she brings to our relationship. sometimes I wonder if it’s a dream, I think to myself, so this is how a king lives🤔🤔 sometimes , when we are at the grocery store I’ll mention something about some vegetable or dish she has made before and presto! she is cooking that even tho I just casually mentioned it a few days ago. she will remember something I said I liked and do it . her only fault is maybe she spoils me too much 😆😆
If the concrete monuments have "PS" on them, that's probably "private survey" as opposed to public work. Great start and I hope all goes well through closing. Mike, it's wonderful that you're planning for Janet's future. I spoke to an attorney there in Dumaguete about estate planning options available under PH law. One aspect I remain unclear on is whether a Filipina wife would be eligible for Social Security widow's benefits as an NRA (non-resident alien). Assuming minor children weren't involved, and if deemed eligible by SSA, she'd still likely have to wait until age 62 before receiving monthly payments, from what I understand. So, if you passed at 85, then a Filipina in Janet's situation could have to wait 14 years to get social security, if she can get it at all, and most likely, under the assumption that she didn't remarry. A Filipina having to wait for my social security is what concerns me, and also that she might be precluded from the benefit if she remarries. I would want her to remarry and move on with her life. It's a difficult problem given limited resources. I agree that if pot of cash money were to be left to a Filipina in order to provide living expenses, her family would strip her of that money in less than a year. It's very sad, yet the most likely outcome. I have a number of years before I'd have to make this decision, if at all, but as it stands today after talking to the lawyer there and considering various taxes, I'm inclined to provide monthly income to my Filipina, and children, if any, that would be funded monthly as a distribution of after-tax principal from an entity created and managed in the US following my death. The idea would be that my Filipina would receive the money on a monthly basis tax-free. I haven't worked out the details, but this is the concept.
@@mikesphilippineretirement Thanks. Since I'm here in the US, I'm going to go down and meet someone at the SSA and get the actual rules. I'll email anything new that I find.
I’ve been married to the same Filipina for 38 years. My number one goal is to ensure her well being and standard of living. I agree with you 100%! If I didn’t trust my wife, I’d leave her.
@@michaelbond4239 very good point you make Michael. When I married my wife some 38 years ago, she was an undocumented alien in the country of the United States. The issues my family raised were very similar to the concerns you have now. I have to admit that I had some doubts, but, she had won me over. And once I committed to marry her, from that day, I had total confidence and trust in her. Janet is taking care of Mike in the winter of his life. She too deserves a life after Mike.
Totally agree with your philosophy about girlfriend/wife/carer in the Philippines. Totally agree with your plan to buy land for her future. Great video with good basis of humanity. Cheers
Very well said about nursing home here in the USA. Mike you are doing the right thing.I am coming to Dumaguete ,I wanted to find a lot in Dauin area.I don't want to deal and buy from greedy real estate agent.The problem in the Philippines if they see you are an expat or OFW agents put the price up.
Mike I salute you with your good intention, but I hope you did not pay cash, because there so many expat going broke in the philippines. Remember, you control the finance, you control the romance. Good luck
My Filipina is somewhat different. She bought land and built a small 2-story apartment before I met her . She lived upstairs, and her sister and her family lived downstairs. This was 20 years ago. She will never sell it. She bought a property near a high subdivision for the "future." Five years ago we met, and within a year an opportunity arose to buy 3 lots. We bought the 3 lots, built on 2, and just finished the 2nd; all in Cebu. We were married in the Phillipines last year, and I live primarily in the U.S. and my wife lives in the Philippines. To date, my name is on nothing, but we are working on getting my mame on everything, plus more land on another island. I fully trust my wife, and always appreciate her forward thinking. We used the 1st floor to open a convenience store, wholesale and retail presently, and is in both our names, I funded the project and it's self-sustaining and growing. Her plan has always been to get set for the future, and that's what we're doing now. I'm twenty years older than her. Heading back to Cebu next week for a month. Now that we are married, our 1st plan is to get my name on her accounts there.😊
@@peter-pg5ycdon't be silly....you know nothing by making that silly statement....learn the law and then come back and stroke us😅 ...general statements like that are half ass, you don't know me, my nationality, my level in government....😂
@@peter-pg5ycyep. foreigner can’t own land, or as I understand it the controlling share of a corporation, doesn’t Filipinos have to own 60 percent ?🤔 another scenario,what if a foreigner built a house on the land which belongs to his wife and she wanted to tear it down ? not that she would, but say she wanted to convert the land into an agriculture plot? what legal recourse would her husband have,? or build an apartment complex on it ? would the land have primacy over the structure on it?
From all I know from what you have said you are absolutely doing the right thing. Congratulations. For me I will never own property again. I’ve done well in my life from good decisions with real estate. But the stresses, problems, headaches that come with owning property I am done with. I have complete peace, contentment and happiness in my life and I don’t want to risk that. I’m unique in being a SE Asian slow traveler. I love the nimbleness and interesting nature of my lifestyle.
This video is incredibly informative and well-explained. Thank you for sharing your knowledge. I really appreciate the effort you put into this video. i am watching from Doha, Qatar
IMO you are doing the right thing. My age gap is 39 years and I need to know that when I fall off the perch I am leaving her with more than just good memories.
Shared, agreed 100%. Same her, 38 year gap, but we've been married 8 years, just bought a house for her and her family. We'll be building another one on a lot we also own once we move there in 2025.
My Filipina wife (25 years younger) and I recently bought 600 sq meters for a house (5,500 per sq meter - Prices are inflated in our area). It's in an elevated part of town, is cleared, has good soil for a garden, five minute walk to the beach, big enough to have a house and car port, no immediate next door neighbors 2 feet away. I want to make sure she has a place to call home after I am gone, and a place for us to call home to raise a small family. I requested that she put it in her name, but she says she will add my name to the title because we are married. I left the entire process up to her, since she knows the people selling the lot, and she also knows our lawyer. The only part of the process that I didn't like was the withdrawal of 3.3 million peso from her bank account and transporting it to the seller but I had her father and uncle escort her. The entire transaction went very smooth, no issues.
Buying a property is a great gesture if you love her. It's even more important if you have kids together. It doesn't worry me if the asset is in her name.
Mike, a Great topic to talk about: Foreigners that wish to give up their Citizenship from to country they are from, to become a Philippine citizen. What are the Pros and Cons? This is a topic NO ONE talks about. After I do my research, and weigh the Pros and Cons, I will most likely become a Philippine Citizen. This way, legally, I will be able to own land, have my own business, without any repercussions.
I hope you’re aware that virtually all businesses that ex- pats invest in are dismal failures. 😂😂😂 if you’re young I could MAYBE see you wanting to own land, property, but if you marry a Filipina, and she leaves you she could take it all, you don’t want to navigate the slippery slope of the judicial system in the Philippines if you’re an ex-pat😂😂😂 you might want to stay an extended period of time here and see what living here is really like, you might like it or you might not be able to adapt here.. don’t think just because you spent a few weeks here at a resort with a young hottie by the pool with your rum and coke that it’s like this all the time.. 😂😂
@@keith-kb1zl That is not true. Look it up. A person that gives up citizenship to become a Philippine citizen will not lose their Social Security benefits.
I purchased a hectare for my husband before we were married. Bought another one after we married. Now his family never asks us for money for rice. Best investments I ever made!
It’s probably the right thing to do. Why get rid of all of the coconut trees though? We had a Chico tree in our yard and many many other trees and a relative decided to cut it down and left the other trees. He made $10 on it. I said I would’ve paid him $10 not to cut it🤣
Congrats with your purchase, Mike! I understand why you are doing it and that honours you. Would I do it? I don't think so! As you know I got burned before and lost my 1,054m² land with 7 bedroom house to my ex-wife when I divorced her. We were married for 14 years and until I found out that she was cheating on me, I trusted her too. The thing with many Filipinas is that they can be trusted until they can't! I've lost a lot of money with that property! Would I really want to risk losing even more? It's tricky!
Hi Mike, mate that makes sense to me, and l have had two phippines girlfriend and they had no money sense or how save or budget, live for the day not the future 😢😢😢
If you're going to build, don't use Old Dog's builder ! I can understand your thought process and think its good. It can give you both a substantial project and these things can bring a couple even closer. Not to mention an long term investment.
Though I enjoy your content, there's something that doesn't sit well with me about these women and their families trying to get me to buy land, houses, or businesses there. At the moment I have no plans to live there. I've visited many times but after 2 weeks, I'm ready to come back to the USA. It's easy to see how many expats go broke after moving there.
you go broke if you stupid with your money. you come here for 2 weeks and they want a house your hanging out with the girls that are right for tonight not a lifetime
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@@michaelwest2863 it's a double edge sword. We need them poor or they wouldn't want us....but it comes with a family of poverty that also want some of what you have.
@michaelwest2863 trying and forcing you are two different things...2 weeks, and your done? What are you doing there for 2 weeks? Are you trying to immerse yourself in the culture or just a quick fun trip? The Phillipines definitely is not a retirement country for everyone... 👍 👌
Rent Rent Rent ‼️‼️
"I trust Janet completly." I would never utter those words about any woman. People now days are never loyal forever. Maybe for a time they are loyal, but in the future things could change.
you never know what the future will bring
Agreed just got to look around you but theres is different lol
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@@mikesphilippineretirement That's why you err on the side of caution unless you just don't care what happens.
@@roswoAlso suppose he goes into a compromised state in a few years. I really don't think it's fair to expect a young woman to assume nurse maid for what could go on for a decade or more.
One last thing you said your the happiest you’ve ever been in your life. I’ve been with my wife for ten years and I’m the happiest I’ve ever been in my life.
A good wife makes for a happy life
Sounds just like my situation
Billy, 10 years only,
- I have been happy for 26 years with my wife from Mindanao.
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you guys are depressing i have always been happy. Its how your attitude shows.. i choose happy always have and will. its not dependent on the wife or others..
Your wife is naive and has the fiscal sense of a child. Stop trying to parent her and teach her fiscal responsibility. One year after you're gone all the money will be too.
Should have gotten an educated one.Mine college degreed accountant. Knows how to manage monies. and makes her own monies
are you a what people call a troll?
@@jamesrobinson7132 🤡
@@peter-pg5yc 🤡
@JohnS-zq8ks
yes trolls little boys jealous of older men having a sexy wife and a great life
How can you say you recognise a good girl if you have been divorced 2 times i dont see the correlation tbh.
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my secret
@@mikesphilippineretirement Yes, it is your business, not the public....
Hehehehe... every one is a good girl until she is not. I think these boomers know.😂
Built a home for my wife and i in Tarlac... Been with her about 11 years now, am 72, and never been happier... She's about 20 years younger than i am
good deal. Happy life Happy wife
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IS BAMBAN TARLAC A GOOD AREA?
2 years? That's not even close to being enough time to trust. Guys will never stop being simps.
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@@jamespeters920 😂
If we learned anything since the feminist movement, it’s that women for the most part aren’t co- dependent anymore. they can financially take care of themselves, before the sixties women endured marriages whether they liked it or not, they had no choice, as far as any timetable on when you can “trust your spouse “ there isn’t one. sometimes you just have to roll the dice and trust your gut. otherwise no use looking for a relationship, might as well sit on the sidelines 😂😂 we’ve all been burned at one time or another, it’s like anything else in life, you gonna pick yourself up and try again or go cry in a corner,?🤷♂️
Well observed and well concluded
😂😂😂
Get use to it brother , the skin tax is all day everyday, I refuse to purchase any property in the Philippines 🇵🇭
been here close to 3 years..and I was shocked
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That property location looks great and very green with healthy vegetation Janet has a good head on her shoulders and presents as a dignified and intelligent woman who will honor your sacrifice in the years to come.
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I'm blessed with Janet
My advice to anyone looking for a Filipina to look after them in their old age is to find one who is already doing it. Look for one that is working in a Philippine nursing home, or is a live-in caregiver for a disabled elderly person. It's best that she has some years of experience doing this. This is actually the only Filipina that will know what she's getting herself into. Any Filipina will tell you they will take care of you in your old age but few will actually do it. And the younger and prettier she is the less likely she is to actually fulfill her promise. Taking care of an old man is difficult at best.
do what is best for you
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it's true actually caregiver needs takes training as well and some older folks need it 24/7. Working in a nursing home is rough.
I assume no one will help me when I am helpless...
You think you're buying a loyalty, or obligation, or a caretaker ,but, once she's paid... she'll be thinking what's next? It's nature.
If you want good care, always suggest the idea of some future benefit.
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The best deal is a fifty foot sailboat or trawler. You can own it, and the entire philippines is your back yard.
Then if you decide too, you can sell the boat.
If you die she will not have any funeral expense.
She can take you out to sea, and bury you there.
I regreat buying a house,
if it sinks. No back yard
Buying a house seems an Merican thing or keeping up with Old dog and mates lol
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I retired and moved abroad. The Philippines and Thailand were high on my list until I learned that you can't own property. Buying something that you can never own is risky at best. You have a great relationship and I am very happy for you and Janet. But things can and sometimes do change. I'm married and own my place out right. My wife and I have a great relationship. But she has no rights to my investment until I'm gone. Then she can do whatever she wants with it. Relationship for men are about love. For women, it's about leverage. Wishing you the best.
@@f.a.j.4685 the same way thousands of Philippine boats and ferry's do.
I married my Filipina one year ago after 5 years of dating and visiting multiple times . And I also would trust her with my life and well being as I get older . I’m 63 and she’s 48 , and I will. Make sure that her and her family are well taken cared for after my demise. They are the most honorable people I have ever known . Maybe I’m just lucky , but I know in my heart they are very much deserving of anything I can help them with.
I totally agree with you Mike... a good relationship should from a man to want to provide for his filipina. Still, it's a good idea to have a lawyer build into the sale of property and prenup a Lease to protect the man from being forced out of his home should something go awry in the relationship. Great video!
yes thanks we have a lawyer in place
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@@Legion1811 correct it is stupid comment....wife will own the land, that has to be okay....that would not bother be at all....
Been with my Pinoy wife over 25 years, married 19, met in HK where she was a domestic helper supporting her son. In 2014 I purchased a lot for her of 3,000sq/m next door to her mum and after sitting on it we have now built a nice house and stared a small rice farm. This I did for her, not me. I needed to know when I'm gone, she will have enough to live comfortably. the way I look at it, is, if I can't trust my wife, why would I still be with her? I trust her with my life, and she's never given any reason not to. Yes, 2M is a lot of money, but I'm confident you wouldn't do it if it was to leave you short. I've been fortunate working 28 years in HK, so our place cost a little more. But I wrote it off as its hers to enjoy and do with as she feels fit.
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thanks for sharing
@@mikesphilippineretirement Done.
I understand if this is too personal, but what provision for her monthly living expenses made sense in your plan? Is it the income from the rice farm?
with your replacement.
You know all problems, and you still do it, I feel sorry for you
poor man
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Nice piece of property ❤ The fruit trees are a nice bonus 👍
Janet is happy about it
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Great video Mike. It’s a battlefield out there when it comes to buying land indeed!
yes it is. harder than I was thinking it would be
@ I agree 100% Mike.
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@@mikesphilippineretirement watched hers too bud! 😊👍🏻
Good to meet you and Janet again Mike. Good advice. Regards Kevin & Lynne in New Zealand .
Hi Guys so nice meeting the both of you Twice in the same week. Take care and stay in touch
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You definitely showed your age by referring to Phil Donahue and Oprah Winfrey who haven't been on air for over 10 years
😂😅
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I look good for 40
@@julieseely9175 🤣🤣
Mike, good plan, well thought out. You are a stand up Guy and you and Janet will hAVE MANY GOOD YEARS TOGETHER.
Thank you Mark
That’s awesome you are forward thinking concerning your wife. It’s easy to see she loves you and only fair to make sure she is ok when life happens. Thank you for the great content.
I appreciate that
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Great news Mike. What could be better than real estate.
hit the lottery maga bucks...hahaha. Thanks Billy
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I watched a previous video and it was mentioned that it could be bought as a business transaction. I just want to retire there and make the most of my retirement. With my wife, I have vetted her well, and we have already had a discussion of living within our means. I want to ensure that my family is set up and she is prepared for a long time after I am gone. Great information video, Mike.
I know you will take good care of her. You sound like a good man Philip
If you have vetted her so well, just buy a property and put it in her name. Easy. No problem.
You still need a will
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Good luck with your purchase and will check out some of Janets videos. Thank you, Janet and Mike...Jim
thanks Jim
You two are the refreshing positivity really of finding true love and happiness in the 😢Philippines
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thank you
My wife has a 1k sq. meter lot with 2 houses on it. The smaller 3 bedroom semi native one cr and the other 140 sq. meter, 3 bedroom, 3 cr. No debts. The lot is fully fenced and gated.
good to hear
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So what does that mean? Then location comes into play, and the neighborhood quality...data you provide does not provide much of a picture...but heading in good direction, depending....
Coconut trees are an asset. You can always sell the coconuts foreigners. Don’t understand that also, it’s easier just to do a raised bed garden. see you around mike you can buy me a cup of coffee lol.
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sure
At your age, yes, as long as you are happy. She gave you the best of your life in your old age.
I'm very happy here
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You and I think alike. My wife will be well taken care of. Men need to show some compassion for the one that will be showing compassion towards you.
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your right Bruce
Yes!!!
Yeah, but just don't assume any Filipina is going to show you compassion in your old age. Always remember, a Filipina's biological family will ALWAYS come first. No matter what she tells you, you will ALWAYS be last.
Good luck with your new property Mike.. hope it goes smoothly and you both happy with you purchase. Hope you can find a dependable builder later to build the home you and your wife want.. all the best..
thank you
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My "wife" and I have properties that we've invested in since 2012 when we purchased. We have been together 18+ years. That type of realtor I would immediately turned and left without saying a word.
I had a few words
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Good attitude. If I ever buy any asset in the Philippines, it will be something I am willing to walk away at a short notice. I am not at that stage yet, so I am not buying any piece of property in the Philippines 😂
Your choices are justified and admirable Mike. You are lucky to have Janet and she is lucky to have you.
thank you. Yes I'm very blessed
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This is the first time I've heard anyone address the education of a phillipina on saving and long term planning. I hope she is a good student of what you are teaching. Thank you
thank you for watching and your comment
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I think you're being very intelligent and decent to plan her future for her. I expect you will be well cared for. ❤
You’re a good man, Mike you’re a good man Janet should be very appreciative.
She is Thank you Bill
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Like you I'm also the happiest I've ever been in my life by being in the Philippines with my beautiful Filipina sweetheart! It's too bad that it took so long for us to get here Mike.
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so true Gary
Nice...I saw Janet on many of your video and It's a good thing to invest in her because your a lucky guy and I see that you know that you are.😇
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yes I am Gary
I've noticed you see a place on market place and every agent has a different price. A lot of these agents sell everything from chickens to houses. I've seen the house price change on marketplace a hour after you enquire. I don't know what to think.
have them show you the place and a week later go and talk to the owner with out the agent
If the agent introduced you to the property, then you'll likely be legally obligated to pay a commission to them. So you may as well negotiate through them ... plus the agent can help to "talk the owner into" accepting a lower offer
@mikesphilippineretirement Yes we learned that trick. Always have to jump through a few hoops.
Naturally use a legit agent ... who doesn't charge a skin tax
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Buy her a Sari Sari store and she will love you forever. Every Filipina wants one.
@@Eduardo-m2i just make sure you subsidize it every month. There’s wall to wall sari sari stores there.
@@stanlysteemer4872 Yes, but still every Filipina wants one.
@@stanlysteemer4872 By the way, I'm not talking about myself. I'm talking about what I see and know.
@@Eduardo-m2i I believe you I’m married to one of these Philippine women. She lives with me here in the states. She helped get one going for one of her sisters lots of these sari sari stores.
land is so expensive here! an example. cheap would be 2500php per sq meter. 4046 sqm to an acre. 4046X2500=10115000 php. so $171,340 per acre. that's just crazy!!
only so much land God is not making any more
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I have to agree. You would be better off buying land in the US and getting 1-3 acres if you want an investment. With room to get her a spouse visa.
I’ve been married 40 years and have purchased a few properties in the Philippines my advise is to be careful lots of time there are multiple owners especially if the property was inherited every child gets a piece and the attorneys drag the cases out forever you and your wife probably have the best intentions but their are a lot of unscrupulous sellers there buyer beware do your homework
I try to be very careful. Lets see what will happen
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Very informative video. I’ll be in Duma in January and will be looking into the land situation there, as my wife is eager to move back to Duma after being with me in Canada for 11years
Whether you are married or not, never spend more than you are willing to walk away from. Always remember that you are a guest in the philippines and can be asked to leave at any time for any reason. Land disputes are one of the main reasons why people are killed in the philippines and if you don't do your due diligence with a real estate attorney to make sure that the person selling it actually owns it and that the title is clear. Mother title properties are a major gamble unless you do your homework and make sure everyone involved has signed off on the property. Green dot properties are ones that have been cleared for a legitimate sale and have a clean title with no liens on it .
true statement
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I think these boomers know. They have been through 2 to 5 divorces before moving to the Philippines 😂
Congratulations! There's 1 issue that needs to be clarified - the subdividing of the property is great because all heirs signed out the 700 sqr meters you're buying, however the signed subdividing document should derive a separate title of the 700 sqr meters property upon payment in full of the property under the name of Janet and others (if other names should be added to the title), issued by the Register of Deeds of Dumaguete City or the province of Negros Oriental, whichever has legal authority to issue the title, said original or certified copy of the title handed to Janet during the final payment. Do not agree to buy the property based on the signed subdividing of the property by all the heirs; absence of title will create legal complications you would not want to deal with. Good luck.
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Mike, I hope that you and Janet are completely satisfied with your new property.
Awesome video Mike... Glad to see you are enjoying your retirement... Janet is awesome. Thanks...
Thanks 👍
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If you buy a lot with a house on it, agree to allocate the largest possible reasonable portion of the purchase price to the house, which you lease. I have some very specific plans in mind for my Filipina and her 3 daughters to secure their future. Stay well.
Thanks for sharing Anthony
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Well said Mike. We all need to travel our own path and not copy others.
we all need to live the life we want
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Glad to hear it. Hard assets is a Must if you want to preserve wealth. Good on ya Mike. Peace and Love, B Goat
Thanks Billy
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When I retired and took out my pension one of the stipulations was my wife will get 100% of my pension for the rest of her life when I pass. At present that is half of my income so she should be set for life.
good job taking care of her
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She hasn't killed you yet😅
Great video, and I salute you for taking care of your lady as she will indeed be far more likely to survive you. And yes, cash money will get eaten by friends and family...
A few observations:
- If you are financing the purchase, make sure that you can walk away from it, without it impacting your financial security, and without you shedding tears. In other words; protect yourself.
- Apart from the skin tax, beware of capital gains that the seller may want you to pay. Yes, some sellers will want you to pay their tax when selling the land to you.
- Lastly; make sure there is unimpeded and everlasting right of way. If your property can only be reached over a private road or land; walk away.
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paying cash Kuyak
Hi Mile, good to see you and I fully agree but there is one thing = The location. IF you actually planning to build a house and live there during old age, I guess it better be, if possible, somewhere with a near by hospital .
Good point
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Great video for grown men...
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Thank you
Congratulations to you both!!🎉
thanks!
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You're a good man and you are right. Your partner for 15 years is enough to probe herself that she is a trustworthy partner. You are lucky. Goodluck.
thanks
Skin tax doesn't matter. You're going to negotiate the price anyway!!! Go back and tell the so call agent that your offer is @$2,200 and have him take to the owner
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no way. I will just find a different place
Thanks for sharing Mike. I'm so happy for you. Great advise.
Thanks John
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I like the videos having chapters 👍
I'm trying to do that in most of the videos if i can. Thanks for your input
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@@mikesphilippineretirement I'm already a Subscriber on Janet's channel.
Thank you
There will be extra soil when you dig the foundation.
Imho, it's your money and you can do whatever you want with it. Making someone else happy also makes you happy.
Keep living the life man.
living the dream
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@@mikesphilippineretirement wishing you nothing but good vibes.
Mike, you mentioned $38,000 is that just for the property or does that include putting a house on it?
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just the land
Mike, this goes along with the member live about trust. You fully trust Janet 10000000000 % and want to make sure she is in a good place after your gone.
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yes sir
Yeah, I think I will do something like build a house eventually but before I do that, I want to go into Social Security office and sit down and talk with them about my fiancée’s social Security to see how much I can contribute and how much will she get when she decides to draw from it good video lots of food for thought. I know Paul old dog is having a hard time with the contractor following through. He did a video about it and I think he’s gonna do a few more videos so yeah you have to be careful.
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Philippines social security pays almost nothing, you must be uninformed...
Hi Mike, dont know if its a agricultural lot ore residential, I know its a lot off paperwork to change it but I would do it, if you dont want to do that think off building a bigg cubo there, succes💪
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No you're not crazy my friend.. you are a very good unselfish man.. not that way with most foreigners living in the Philippines.. I could never repay my Filipino wife for all the happiness she had brought me over the last 6 years.. if I would win the Powerball and give her all the money I would still owe her that much and more.. she has made me the happiest I have ever been in my life and I am 70 years old also..
That she has. Thanks Richard
@mikesphilippineretirement 🏖️🏝️👙😁🤠🍺🍻🇺🇸👍👍
same here been married for 8 years to my young wife and no woman I have ever been with in the states comes close to her in what she brings to our relationship. sometimes I wonder if it’s a dream, I think to myself, so this is how a king lives🤔🤔 sometimes , when we are at the grocery store I’ll mention something about some vegetable or dish she has made before and presto! she is cooking that even tho I just casually mentioned it a few days ago. she will remember something I said I liked and do it . her only fault is maybe she spoils me too much 😆😆
If the concrete monuments have "PS" on them, that's probably "private survey" as opposed to public work. Great start and I hope all goes well through closing.
Mike, it's wonderful that you're planning for Janet's future. I spoke to an attorney there in Dumaguete about estate planning options available under PH law. One aspect I remain unclear on is whether a Filipina wife would be eligible for Social Security widow's benefits as an NRA (non-resident alien). Assuming minor children weren't involved, and if deemed eligible by SSA, she'd still likely have to wait until age 62 before receiving monthly payments, from what I understand. So, if you passed at 85, then a Filipina in Janet's situation could have to wait 14 years to get social security, if she can get it at all, and most likely, under the assumption that she didn't remarry. A Filipina having to wait for my social security is what concerns me, and also that she might be precluded from the benefit if she remarries. I would want her to remarry and move on with her life. It's a difficult problem given limited resources. I agree that if pot of cash money were to be left to a Filipina in order to provide living expenses, her family would strip her of that money in less than a year. It's very sad, yet the most likely outcome. I have a number of years before I'd have to make this decision, if at all, but as it stands today after talking to the lawyer there and considering various taxes, I'm inclined to provide monthly income to my Filipina, and children, if any, that would be funded monthly as a distribution of after-tax principal from an entity created and managed in the US following my death. The idea would be that my Filipina would receive the money on a monthly basis tax-free. I haven't worked out the details, but this is the concept.
my understanding she would not quality for my SS
@@mikesphilippineretirement Thanks. Since I'm here in the US, I'm going to go down and meet someone at the SSA and get the actual rules. I'll email anything new that I find.
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Yes please send me what you find out
I’ve been married to the same Filipina for 38 years. My number one goal is to ensure her well being and standard of living. I agree with you 100%! If I didn’t trust my wife, I’d leave her.
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your a good man Brain
Brian, there is a significant difference between your 38 years and Mike’s 2’years. He barely knows the woman to waste 38k, nuts.
@@michaelbond4239 very good point you make Michael. When I married my wife some 38 years ago, she was an undocumented alien in the country of the United States. The issues my family raised were very similar to the concerns you have now. I have to admit that I had some doubts, but, she had won me over. And once I committed to marry her, from that day, I had total confidence and trust in her. Janet is taking care of Mike in the winter of his life. She too deserves a life after Mike.
Hehe, "I do like looking at a good set ... when they walk by"
Its a mans world hahaha
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maybe you should have left out that “boob “ comment 😂😂
Janet know all about me looking but don't touch or talk
You took me way back with that Phil Donahue reference. LOL. I think it has been over 20 years since he was on TV
Totally agree with your philosophy about girlfriend/wife/carer in the Philippines. Totally agree with your plan to buy land for her future. Great video with good basis of humanity. Cheers
Thank you Roger
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Very well said about nursing home here in the USA. Mike you are doing the right thing.I am coming to Dumaguete ,I wanted to find a lot in Dauin area.I don't want to deal and buy from greedy real estate agent.The problem in the Philippines if they see you are an expat or OFW agents put the price up.
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thank you. got to be careful
@@mikesphilippineretirement surely
You seem to have an approach that makes sense, as long as you are right. Remember that common sense works only with those who value it.
great comment
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Mike I salute you with your good intention, but I hope you did not pay cash, because there so many expat going broke in the philippines. Remember, you control the finance, you control the romance. Good luck
cash is king
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My Filipina is somewhat different. She bought land and built a small 2-story apartment before I met her . She lived upstairs, and her sister and her family lived downstairs. This was 20 years ago. She will never sell it. She bought a property near a high subdivision for the "future." Five years ago we met, and within a year an opportunity arose to buy 3 lots. We bought the 3 lots, built on 2, and just finished the 2nd; all in Cebu. We were married in the Phillipines last year, and I live primarily in the U.S. and my wife lives in the Philippines. To date, my name is on nothing, but we are working on getting my mame on everything, plus more land on another island. I fully trust my wife, and always appreciate her forward thinking. We used the 1st floor to open a convenience store, wholesale and retail presently, and is in both our names, I funded the project and it's self-sustaining and growing. Her plan has always been to get set for the future, and that's what we're doing now. I'm twenty years older than her. Heading back to Cebu next week for a month. Now that we are married, our 1st plan is to get my name on her accounts there.😊
she owns the land silly.. doesnt matter your on it.. the home can be yours but land its on is hers.. Nice gift you gave her..
@@peter-pg5ycdon't be silly....you know nothing by making that silly statement....learn the law and then come back and stroke us😅 ...general statements like that are half ass, you don't know me, my nationality, my level in government....😂
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@@peter-pg5ycyep. foreigner can’t own land, or as I understand it the controlling share of a corporation, doesn’t Filipinos have to own 60 percent ?🤔 another scenario,what if a foreigner built a house on the land which belongs to his wife and she wanted to tear it down ? not that she would, but say she wanted to convert the land into an agriculture plot? what legal recourse would her husband have,? or build an apartment complex on it ? would the land have primacy over the structure on it?
From all I know from what you have said you are absolutely doing the right thing. Congratulations. For me I will never own property again. I’ve done well in my life from good decisions with real estate. But the stresses, problems, headaches that come with owning property I am done with. I have complete peace, contentment and happiness in my life and I don’t want to risk that. I’m unique in being a SE Asian slow traveler. I love the nimbleness and interesting nature of my lifestyle.
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thanks Koufax
I look forward to you and Janet’s channels’ videos! 🙏🏼
You’re doing the right thing Mike. I just bought land in Dagupan. We are on the same page. Great job!
Awesome! Thank you!
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This video is incredibly informative and well-explained. Thank you for sharing your knowledge. I really appreciate the effort you put into this video. i am watching from Doha, Qatar
Glad it was helpful!
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@@mikesphilippineretirement yes Sure
Land! It's one thing they ain't making any more of.
It's value is only going to increase.
Go for it Mikey!
You won't regret it.
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So true thank you
@@gerbourke1952 Hawaii grows. So they are making more land
@@listerine414 then go buy there.
I'm happy enough between ireland, spain and the philippines
Take care
@@mikesphilippineretirement of course I will friend
Always on the prowl for property with an existing house because there is a severe labor shortage of talented workers.
yes there is the lot does not have a building on it
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IMO you are doing the right thing. My age gap is 39 years and I need to know that when I fall off the perch I am leaving her with more than just good memories.
thanks for sharing
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Shared, agreed 100%. Same her, 38 year gap, but we've been married 8 years, just bought a house for her and her family. We'll be building another one on a lot we also own once we move there in 2025.
thanks for sharing Ethan
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My Filipina wife (25 years younger) and I recently bought 600 sq meters for a house (5,500 per sq meter - Prices are inflated in our area). It's in an elevated part of town, is cleared, has good soil for a garden, five minute walk to the beach, big enough to have a house and car port, no immediate next door neighbors 2 feet away. I want to make sure she has a place to call home after I am gone, and a place for us to call home to raise a small family. I requested that she put it in her name, but she says she will add my name to the title because we are married. I left the entire process up to her, since she knows the people selling the lot, and she also knows our lawyer. The only part of the process that I didn't like was the withdrawal of 3.3 million peso from her bank account and transporting it to the seller but I had her father and uncle escort her. The entire transaction went very smooth, no issues.
she owns the land you co own the house.
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Ain't that the f#$@truth.
Congratulations
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thank you
Make. I you life wherever Make it. Happy !
thank you
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Buying a property is a great gesture if you love her. It's even more important if you have kids together. It doesn't worry me if the asset is in her name.
Yes leaving your wife something is the way to go but protect them from your old family never mix the two !
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good point Michael
Excellent plan.
Thank you
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Mike, a Great topic to talk about: Foreigners that wish to give up their Citizenship from to country they are from, to become a Philippine citizen. What are the Pros and Cons? This is a topic NO ONE talks about.
After I do my research, and weigh the Pros and Cons, I will most likely become a Philippine Citizen.
This way, legally, I will be able to own land, have my own business, without any repercussions.
I would never give up my US Citizenship
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@@mikesphilippineretirementyep, lose your social security check, no way no how I’m doing that..
I hope you’re aware that virtually all businesses that ex- pats invest in are dismal failures. 😂😂😂 if you’re young I could MAYBE see you wanting to own land, property, but if you marry a Filipina, and she leaves you she could take it all, you don’t want to navigate the slippery slope of the judicial system in the Philippines if you’re an ex-pat😂😂😂 you might want to stay an extended period of time here and see what living here is really like, you might like it or you might not be able to adapt here.. don’t think just because you spent a few weeks here at a resort with a young hottie by the pool with your rum and coke that it’s like this all the time.. 😂😂
@@keith-kb1zl That is not true. Look it up. A person that gives up citizenship to become a Philippine citizen will not lose their Social Security benefits.
I purchased a hectare for my husband before we were married. Bought another one after we married. Now his family never asks us for money for rice. Best investments I ever made!
That is awesome!
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["never, never do that, for money people change overnight stay as you are and be happy."]
It’s probably the right thing to do. Why get rid of all of the coconut trees though? We had a Chico tree in our yard and many many other trees and a relative decided to cut it down and left the other trees. He made $10 on it. I said I would’ve paid him $10 not to cut it🤣
The are in the middle of the lot and we will be building in that spot
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Congrats with your purchase, Mike! I understand why you are doing it and that honours you. Would I do it? I don't think so! As you know I got burned before and lost my 1,054m² land with 7 bedroom house to my ex-wife when I divorced her. We were married for 14 years and until I found out that she was cheating on me, I trusted her too. The thing with many Filipinas is that they can be trusted until they can't! I've lost a lot of money with that property! Would I really want to risk losing even more? It's tricky!
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Thank you Paul
I trust Janet an your doing good by getting the property. Question when the survey do you get a drawing of the survey like a Plat
yes the lawyer has it
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Do it Bro!! I would do the same thing for my Filipina 😅❤
That's the plan!
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Hi Mike, mate that makes sense to me, and l have had two phippines girlfriend and they had no money sense or how save or budget, live for the day not the future 😢😢😢
pick better girl friends
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Good for you! Better for your beautiful wife!
You got that right!
You can get funeral insurance just prepaid so that's not a problem have you ever thought of life insurance
If you're going to build, don't use Old Dog's builder ! I can understand your thought process and think its good. It can give you both a substantial project and these things can bring a couple even closer. Not to mention an long term investment.
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thanks for sharing.no plans to build until the title is ready