Hello there!!! I had a project this week of being able to find a renter on our newly built house. If you are from the Philippines and working abroad, maybe you will find this post interesting. I will sharing with you the experiences that I have on investing on real estate.
I am really into investment since I started working. I opened a lot of businesses like laundry shop, computer rentals, buy and sell of mobile phones, etc. It just happened that I have a regular job that I asked my relatives to look after my businesses.. Sad to say, it was not properly managed. So I ended up wasting a lot of money for those businesses.
When I got married, I am so blessed to have a husband who has the same interests as me. We discussed on how we would manage our finances especially that we both worked overseas. The money that we earned were somehow more than we needed and so the opportunity of investing to something is good.
So we invested on real estate.. Since I went back here in the Philippines because of the stress that I had at work in Singapore, my husband became the sole provider of our family. It became challenging for him because we practically need to buy new things for our house here.
As we are risk takers, we again bought another house for investment. We planned to have it for rent and the rental would be our payment for the mortgage. The first 18 months of paying the equity was the challenging part for us.
Choosing the Location
If you are going to buy a property for investment, you should know where is this property located. People are more likely to rent a house near their work. In this regard, you should know if the property is near the offices, industrial zones, factories, companies..
Being near to markets, grocery stores and malls are big plus factors too. Near to schools should also be considered.
The house that we invested is very near to industrial zones and factories. It is near to the market, grocery stores, malls, schools and hospitals.
Safety of the environment is also one of the factors that we considered. We chose a guarded subdivision.
Before we confirmed buying the house, we did some research about the subdivision. Is it well maintained? Is the water supply okay? Internet is fast?
Why Real Estate?
I mentioned on my previous blog the reason why we chose on investing on real estate. The first 18 months of paying the equity was a little difficult for us. When the house was already built, I immediately posted it on facebook marketplace.
The appreciation of real estate here in the Philippines is quite impressive. What we invested is really not that much but I believe this is better than saving money to the bank. If you are looking for long term investment, real estate is one of the best choices.
How fast it was to have a renter?
Since I posted the ad in facebook marketplace, there was no day that I did not have an inquiry. Two days ago, I woke up with 8 inquiries asking if the house is still available.
Then before the day ends, I had nearly 25 people who sent inquiries.. I got a lot of schedule for viewing. Thursday night I closed the deal with a family who was so eager to live in the house.
The market is so huge. I was so impressed. If we have the money, it is good to have more real estate investments.