Hello From Paranaque

[Stevek]

Hi All

Just want to introduce myself, my name is Steve from Liverpool UK, I am staying at Paranaque right now with my gorgeous GF Cheryl.

Really like your forum and will be looking for help with marriage, visa etc...but that's for the future...step by step is my motto. Right now I am looking for help in a couple of areas

1. Starting a business...with europe in meltdown I am keen to start a small business here in RPI (UK would still be my main source of income). I am looking at a small beverage/ food outlet (not franchise) and also Condo rental. If anyone out there has any experience they would like to share, I would appreciate it.

2. I would like to spend roughly 6 months in the UK and 6 months in RPI. The problem is were in RPI ? I am not a city person but want to be close to a city...I really liked Palawan and although I have only been to Davao, I think Mindanao has huge potential . Anyone live in Cagayan De Oro ? Anyway open to any suggestions

Steve
ps Anyone in the area wants to meet up for a beer/coffee then let me know

[fred]

Hi Steve..
It really depends how well you know the country,its people and culture.. If not very well then I would advise not starting a business at this time.. As you may know you can only own 40% of the business enterprise in this country so you will need a Filipino partner to take on the burden of owning the other 60%!!
Im not sure what the capital return estimate is for a condo purchased by a developer and then rented out but Im sure its not that attractive.. There are some really interesting and eye opening posts on condos in this forum so please do a quick search and read up on those threads..
I own 18 units in Cavite which I built and rent myself.. ROI is pretty damned good (about 7 years) and it usually provides a pretty good income for me and my family here in Bohol so no complaints..
Talking of Bohol.. Great place to live and really not that far from Cebu..
BTW.. I lived in Sucat Paranaque for 3 years although not sure I could live there again after living here in the countryside..
Any way.. Wish you the best,whatever you decide!!

Cheers,

Fred.

[stevewool]

thats the best advice you can get, good luck in what ever you do

[Stevek]

Thanks for the info Fred

I have travelled to Phil a few times over the years but still learning about the people and culture. I have had a week or so in Bohol and really enjoyed it.
The condo idea is the lower risk option as talking to people over here if its new build and the builder is reputable then normally ownership is fine. Of course rental ROI is maybe not so good 7% ? and I understand selling costs are high (20%?) so could not bank on capital appreciation. I am also a bit concerned at how long the condo's will last, some of them look a little grotty after 4 years. As for the business...nothing ventured nothing gained, I am certainly not going to risk a big investment but would be fun to try something small, I am prepared for it to fail but would like to give it its best chance to succeed so would be good to talk to someone with some first hand experience.

MY GF family live near Sucat...I think its the pollution and lack of pavements that I find toughest out here

Steve

[Vische]

Goodluck Stevek, i never been to Mindanao so i can't help either .... :)

[grahamw48]

Hi Steve, and welcome to the forum. :xxgrinning--00xx3:

You might like to consider some sort of 'hospitality' based business, such as a restaurant, perhaps later combining with rooms to let.

This way you would be able to rent/lease premises and keep your investment to a minimum while finding your feet (and testing your relationship).

Unless you have the sort of experience of life in the Phils and the sort of capital to invest that Fred did, I would keep the majority of your assets safely back home. :)

[Stevek]

Hi Guys

Thanks for the advice, I have spent a few days reading and talking to lots of people and this is what I think
SE Asia is still growing at rates only dreamt of in the west and this is likely to continue for some time to come. Lots of money in the Phil....but lots of risk as well

1. Property - It is legal for a foreigner to own a condo or town house providing no more than 40% of the development is foreigner owned. Lots of westerners doing this and providing you buy from a reputable company (Ayala, SM, Robinsons etc) and off plan (heard lots of horror stories buying privately). Then you will own it outright and be able to make some income on rent (approx 6-7%). If you choose well and the stars align then you will also make a good return on your capital investment (think original Serendra in Taguig or quality condo in makati bought say 5-10 years ago). Although 1 bed condo makes most sense for purely rental income, I like the idea of a townhouse in a provincial city, if rental does not work then I can always live there. I am off to check out CDO, Davao, Bohol and Bacolod in January.

For a much better return but of course much higher risk then buying freehold with title property or land under your GF/Wife name is the way. Its all down to trust

Crankng up the risk a few more notches would be starting a business. I think the food and beverage business we are looking to start is not eligible for even 40% foreign ownership. Still working on the business plan so long way to go on this one

I will let you know how I get on as things progress. If anyone is is interested in similar stuff then drop me a line I am happy to share my experiences

Cheers
Steve

[taxidriver41]

Hi Steve
I am not too far from you, I am in Las Pinas if you do fancy a meet up for a beer sometime then I will introduce you to a mate who has a small cafe who will give good advice as he has given me in the past. Like you I spend sometime in the UK working and the rest of the time here and it works well, although I will eventually stop here for good,but I dont know when. Anyway good luck with whatever you do.
all the best
Jim

[Arthur Little]

Hi All

Just want to introduce myself, my name is Steve from Liverpool UK, I am staying at Paranaque right now with my gorgeous GF Cheryl.

Steve ... :welcomex:! Can I call you 'Steve VII ? I've lost count ... but I think we already have at least six other Steves. :)

[Arthur Little]

Yup ... my calculations have been verified ... a quick check revealed six others [excluding yourself]. And ALL are still active ! :xxgrinning--00xx3:

[Stevek]

Hi Jim

That would be good, any time this week would be good for me, I am at Chateau Elysee condo near SM Bicutan. Its easy enough for me to get to SM Sucat or let me know were you are and a date and I will catch a taxi. Not sure if I can send my mobile number by private message. Send me a message if you can
Cheers
Steve

[Stevek]

Yup ... my calculations have been verified ... a quick check revealed six others [excluding yourself]. And ALL are still active ! :xxgrinning--00xx3:

I answer to most things...you can call me scouse Steve if you like
Cheers

[taxidriver41]

Hi Steve
I am in BF resort in Las Pinas I am sure your G/F will know it, but I can always travel it is easy enough to get to your place and I am about all of this week. Not sure about posting phone numbers on this site but if I leave my email adress that should be ok, it is cabman11[AT]hotmail[DOT]co[DOT]uk. there are a couple of places over this way we can meet, if you like a beer there is the milkyway bar next to star mall or my mates place here on bf resort,
take care
Jim

[taxidriver41]

Hi Steve
I am about all this week so I can come over to your way or if not you may want to come to las pinas I dont mind if you come over this way we could meet at star mall its easy enough to get to and there is a decent bar there you can have coffee or a soft drink or a beer and it is family orientated so if you have kids then that will be ok, but like I say I am just as happy to come over your way and the good lady can do some shopping in SM . Just let us know when and where and I can be there.
take care
Jim

[tone]

Hi Steve
Good luck on your adventure, my Wife lived quite near to you (her family still lives there) but obviously she is here in England Now!
whilst I cant offer any advice you have our heartiest xmas wishes!

Cheers

Tone

[grahamw48]

My girlfriend lives in Merville subd, Paranaque. :)

I will be visiting her there during the next few weeks.

[Stevek]

My girlfriend lives in Merville subd, Paranaque. :)

I will be visiting her there during the next few weeks.

Hi Graham

Drop me a line if you are in the area, would be good to meet up. We may be off travelling but if not its good to have a bit of a natter.
Happy xmas to you too Tone, I was reading that Milton Keynes is a good place for but to let, what do you think?

Steve

[grahamw48]

Thanks Steve....will do. :xxgrinning--00xx3: