Foreigner Finds $18,000 House In The Philippines
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- Опубликовано: 27 дек 2023
- Foreigner Finds $18,000 House In The Philippines
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If your planning a sustainable income,you can save your money and you can use the big lot that you're already have then you can built a resort with rooms inside so they can rent it...kinda like a resort.
Good potential investment! Thank you for sharing your video
Thank you for watching!
The house really didn't need a lot of investment to make it look attractive. You may want to create a place for parking with concrete, and a dirty kitchen in the back (I didn't see if they had one or not) and clean up the yard with just the simple basics. The inside kitchen would need to be redone as the countertop there looked bad. Obviously paint and such, resealing around the windows, and some window replacement/glass. What about water, electricity, and internet? The compound security could be better, but just my humble opinion! Great video, nice to see ideas to invest in when living there. Pretty much cleanup, paint, some repairs, and updates. I suppose who your target renters are would dictate how much you invest in the renovation.
Yes renovations would be very basic and inexpensive. There is water and electricity, internet also available. This subdivision is inside the city so no problem with utilities.
I would ask if they can come down on the price to 15k USD. then painted it get new windows see if you can put a second story on top have a full cr up stairs and 2 bedrooms make a dirty kitchen out side in the back with laundry. You have to ask your self what about if it flood. will the house to a total disarray?I will be scared of the flood that just me.
Full renovationl roof ceilig windows doors retile toilet renovation repaint garage extension landscaping, good investment
I did see mould on most of the walls, that means water is soaking in the walls. Now sand blast the outside walks then seal it with a coating and paint, fixes the outside walls , then scrub down the inside and seal them too and paint,the bathroom could be extended and modernised . Great fixer upper. New power points etc water pump for pressure, etc,
The green on the outside walls is peeling paint. The inside walls are just dirty. Didnt see any sign of mold or flooding. Yes, the bathroom is tiny. Would be nice to extend.
It is always better to avoid 1 bedroom structures as it takes away lots of rental options. After remodel you may get 8k pesos per month...maybe.
That question is… what is the going rent for that size house in that area. Then after total cost, how many years will it take you to get full return on your investment.
I will run away as fast as I can from that place.
I like your approach and especially when it was said that your husband would want it up to a standard he would feel comfortable with, I'm an Aussie with a Filipino wife, so I agree with that idea, we have seen the before pics and if you do purchase it the after pics I believe would show the true potential of this property, great video and can I ask where it is actually located ?. Thankyou, and remember from little things big things grow, cheers.
Thank you for commenting! This property is located just outside of Balanga Bataan.
Picked up my Filipina’s child home for 4k with a 20k redo……amazing
You need to demolish the house and build a new one. 2 storey building with open area at the roof.
Best investment in the Philippines is to keep your money back home...
Was that potential investment property that you looked at in Ala-uli in Pilar Baatan? some of the scenery looked familiar... We were over in that area a few times in 2017.....Thanks for all of the videos of your trip!!
I believe Santa Rosa Pilar but maybe thats near the area that you visited. Thank you for watching!
Sorry but it seems that you still need to spend a lot for renovation for that house. It will take you eternity before you can earn from that investment. Y not put in some pretty decent amount of Money in Pagibig MP2? Can earn your money 6-7 percent annually.. at least it is a safe investment and sure that u’ll get ur capital plus earnings after ur preferred year term is over since it is under government project
Have you two thought about a bigger house that needs lots of work, then renovate it into a boarding house? There seems to always be a demand, especially if it’s located near a college/university/hospital/mall. My wife and I are looking into doing that, her sister currently runs/manages two boarding houses in Baguio, which gave us the initial idea.
On a separate note, will you be in the Philippines Oct/Nov? I’m planning on a detailed trip along the Bataan death march route, and would enjoy some guidance from a “local”.
Richard I think that would be a great potential investment. We never considered it because of the initial investment but I believe also that they are in demand. Not sure what month we will be there yet but would help you out with any information and could show you a couple of significant places in and around Balanga. Good luck with everything!
Thanks so much for the reply. I’m a couple of years older than you, but still have 5 plus years until Social Security etc. We’d like to get over there (San Juan La Union area) within the next 3 years, so we are exploring ways to try and make some money work for us long into the future. Like you guys, we’d really need to sell our house here (Washington DC area) to really make it work for us.
Your videos make me think a little more about the details that go into a move like that, so Thanks for that. I’ll certainly contact you about some points of interest a little closer to the time we’ll be there.
Too expensive ,its in a crime ridden area.would not touch this one
The materials used to build that house hasn't been of much value, the windows look like salvaged and doors are thin plywood. So difficult to say, but maybe less than 150 000p. But, the lot is of more value probably. Else I would have knocked down and rebuilt it for about 600-700k pesos. So, lets say that the lot is worth 500k and the house as is 150k and will need at least another 350k in renovations. So 1 million is to much!
Lots are priced at 800k and up. I was thinking 100k in renovations.
How hard would it be to evict someone in the event they did not pay rent? As you know in USA some states are very lenient on tenants that don't pay and other states are helpful to the landlord. What about Philippines?
Not sure how difficult but I think the barangay would help in that situation.
@@Marker44 I do think the concept of a few lower cost houses with lower rents is better then a nicer house with higher rent. The more places the better to help offset unoccupied situations. Looks like a nice little place if the rental demand is there.
@@franktirellithe philippines the favour actually sways towards the landlord. As long as a lease is signed
Just make sure your leases are notorized with Attorney. Just file with LGU for eviction. Usually every Friday the Brgy has its meetings with both parties. Just document every payment with a receipt book both parties sign.
Also, local Brgy under the housing laws in Philippines it allows to accept payment on behalf of landlord if problem collection with renter.
Very fast response for evictions. Also, the Brgy will send staff to help remove belongings if needed.
1m peso = 18k usd plus remodel, to get what 200usd per month ? not a good risk unless you live there
Is that in Pilar?
I think you can haggle the price down to half....100 sq meters....just about right
Probably USD 100...for that size
I totally agree. But you could renovate and sell for more (flip it)
Renovation cost would be minimal and initial investment is low for a subdivision inside the city. Cecile has family here that can check on the property also. You wont find much cheaper with an actual title. We are too hesitant to buy "rights only" property. If this were outside of the city it would be cheaper but also more difficult to rent.
600k tops
I think the lots are selling for 800k plus. Pretty nice subdivision
@@Marker44php or $?????
Joby, exactly what I think
Offer 600k and let them think
what are guessing about 10 years to even ?
8-10
@@Marker44good idea sir makes sense to me-i always think its good to set the wife and son up for when your not around anymore
Lesser....or lower it,it's costly for 1m...
Not worth $20,000 /1m pesos. It cost that much to fix it. It probably only cost 350k pesos to build it. And they want to sell it for 1m. Big profit for a fixer upper And I doubt somebody will rent that small
$1000 would go a long way in renovations. You wont find titled property close to Balanga much cheaper. 100 sqm lot in a nice subdivision. The size and layout is very popular for a rental property. Very much in demand around here. Probably looking at 8-10k per month in rent.
@@Marker44The clean title is worth a huge amount. Titles are a mess in the Philippines, people have to remember title companies are not really a thing. Don’t touch mother titles or rights only properties. It really doesn’t get much cheaper than this…there is a price of entry to buy a home / lot. This isn’t crazy by any means.
agree but not 1 million ,its in a bad area @@aboveitall9600