making a living,

[stevewool]

hi all, making a living or getting some money towards your living, many know my plans for leaving here and going to the phils, but Em wants to make some sort of living when we are there, a sari sari shop, things like that, but also making her dads place into rooms, or doors as she calls them, she reacons we could have 5 to 6 rooms then rent them out her dad lives in marikina and once done could get about £300 a month all in, dont know if this is right but all i can go on is hat em says, anyone had any ideas on this and what cost may be involved

[grahamw48]

You'll need to be close by to collect the rent and keep the place in order. :)

One of the biggest headaches in running a Sari Sari or any small local business is people (often neighbours) asking for credit.
You need to be pretty hard-nosed.

I built a clothes shop for the ex, as she was a qualified seamstress.

The credit thing was always a problem for her. Long hours and lots of work too.

We also had a shop in the province (and a market stall at the weekend) which I used to man. I thought it was great fun, but of course I was a bit of a novelty with the locals...many of whom had never seen a white man before...let alone a market trader. :icon_lol:

Go for it, but don't lay out too much cash unless and until you're confident of success.

[Leen]

hi all, making a living or getting some money towards your living, many know my plans for leaving here and going to the phils, but Em wants to make some sort of living when we are there, a sari sari shop, things like that, but also making her dads place into rooms, or doors as she calls them, she reacons we could have 5 to 6 rooms then rent them out her dad lives in marikina and once done could get about £300 a month all in, dont know if this is right but all i can go on is hat em says, anyone had any ideas on this and what cost may be involved

If you plan to build an apartment you have to consider the cost and how long will take for the capital to return to you.In my opinion it's not worth putting money on something that the return of investments will take like 15-20 years.im not saying this is not a good one,like graham said you have to very careful coz i've known loads of foreigners here end up losing all their money.....

[lastlid]

http://www.youtube.com/watch?v=JAmhLQqybKg


These 2 Americans show you how to make money in the Philippines.....:icon_lol:

This is one of a series of 4.

[hawk]

we plan on opening a small shop to sell food red horse and more things that is used more as there is not one in wifes block we no its not alot but theres rice fields coconut plantation pigs chickens everyone eats them lol

[Terpe]

Just my opinion, and no offence to anyone, property/accommodation is as sound a business as anything.
Very difficult to make money with sari sari store and the like.

Unless you're just looking for something to do where profitability is not a requirement.

[grahamw48]

I agree. :xxgrinning--00xx3:

[stevewool]

property is what i am intrested in, Ems dad will be there to sort out and collect the rent, all i have to do is front the money to get it built, i am not looking at making millions, but enought to contribute my pension also its something that will be left to Emma and the family once i have gone, just have to make sure the cost is in buget and it can be done, thats the hardest finding out the cost

[lastlid]

property is what i am intrested in, Ems dad will be there to sort out and collect the rent, all i have to do is front the money to get it built, i am not looking at making millions, but enought to contribute my pension also its something that will be left to Emma and the family once i have gone, just have to make sure the cost is in buget and it can be done, thats the hardest finding out the cost

What about investing in property in the UK, and reap the rewards in Phils? Just use an agent here.

Surely a more secure and reliable option.

[grahamw48]

I'm sure Fred will be able to give you some advice Steve.:)

I have done what you're possibly planning, but the ex owns it all now. :cwm3:

[grahamw48]

What about investing in property in the UK, and reap the rewards in Phils? Just use an agent here.

Exactly what I wish I had done, in hindsight. :)

[stevewool]

What about investing in property in the UK, and reap the rewards in Phils? Just use an agent here.

i have 1 here already and thats going to be rented out to family, dont want to go the agent way here

[stevewool]

I'm sure Fred will be able to give you some advice Steve.:)

I have done what you're possibly planning, but the ex owns it all now. :cwm3:

i will private message fred later

[Ako Si Jamie]

Ever since coming back from Phils I've been thinking of moving there myself. Sick of this country and its weather etc.

Need to come up with a cunning plan to make some bucks over there first though :icon_lol:.

Btw, anyone know how much the average condo with a communal swimming pool would cost per month. I've seen newly built ones for around 3000p but just wondered if you could get cheaper?

[Dedworth]

Ever since coming back from Phils I've been thinking of moving there myself. Sick of this country and its weather etc.

Need to come up with a cunning plan to make some bucks over there first though :icon_lol:.

Btw, anyone know how much the average condo with a communal swimming pool would cost per month. I've seen newly built ones for around 3000p but just wondered if you could get cheaper?


Jamie - £75 / month gets you a slice of The Grove 100% Rockwell according to the sharks flogging gaffs and strange finance packages at this years Barrio Fiesta http://www.myluxureal.com/for-sale/the-grove-by-rockwell-at-pasig/

:icon_lol:

[grahamw48]

Ever since coming back from Phils I've been thinking of moving there myself. Sick of this country and its weather etc.

Need to come up with a cunning plan to make some bucks over there first though :icon_lol:.

Btw, anyone know how much the average condo with a communal swimming pool would cost per month. I've seen newly built ones for around 3000p but just wondered if you could get cheaper?

Did you mean 30,000 Jamie ? :Erm:

[Terpe]

Ever since coming back from Phils I've been thinking of moving there myself. Sick of this country and its weather etc.

Need to come up with a cunning plan to make some bucks over there first though :icon_lol:.

Btw, anyone know how much the average condo with a communal swimming pool would cost per month. I've seen newly built ones for around 3000p but just wondered if you could get cheaper?

Jamie, here's something I posted before (Just can't find the post)

Anyway, it's only food for thought, not an expert guide but certainly some things you might want to consider.
Philippines is so so different:Erm:


I very nearly bought a condo in Manila (Marikina City)

Seemed to be a great place and a great location. Essentially it was a very nice location actually.
But....... well here's what happened to me........ I went with an agent to look around, found it was nowhere near finished enough to realistically compare to any kind of 'specification'.


Here's my Experince points to note:-

1. Think about a parking space. A standard parking space would have cost me an additional P375,000 and be large enough for a "typical car". I could never get a specific size big enough for the "typical car", as is was too early to tell.

2. Think about ongoing maintenance costs. I Could never get any specific idea on the maintenance costs. Remember, these cost are obligatory, and can change from time to time. Usually after the contract is signed.
I was eventually told 'in-confidence' that the projected minimum maintenance fees would be about P3000 per month but... could finally be between P4000-P6000 because no one can say until that all important contract is signed.

3. Think about insurances. I Could never get any specific idea on the cost of insurance which is obligatory. Insurance costs can vary from time to time. Usually after the contract is signed.

4. Think about deposits. I was told there was a non-refundable and also completely non-transferable deposit required. Basically this meant that If I paid a deposit for 'property A' and then later decided (for whatever reason) to purchase 'property B', I would lose all of that deposit.

5. Think about 'Hidden One time Charges'. I found out I would need to pay a P120,000 "facility entrance fee", for a one time contingency fund. Whatever that was. Couldn't get any answer I could understand. Maybe White-Guy tax?

6. Think about what you will end up with. Now, finally the condo I was being sold, was in fact a concrete room with a toilet and waste and with ONE set of hot and cold water pipes. There were no rooms, means no internal partiton walls at all. Those are extra.
No electrical sockets, no other water or waste in or out. No finishes on the walls or the ceilings. ALL extras.
Of course it goes without saying, no appliances, no fittings and no furnishings.... ALL EXTRAS

7. No information on the promised pool or in fact on any other facilities, other than they are usually completed before the last condo is finished (ie sold and completed to contract)

Sorry if all this sounds negative, not meant to be just advice on what to be smart on.

So far I have not bought into a condo. I have friends who have done it and done it well.

This is what they tell me, always buy a completed condo in a completed building with completed facilities and with a parking spot (big enough). Always be sure the maintenance costs are fixed'ish' for a specific known time period.

Then and only then you can really know what your costs are, and how much you will either pay in rental charges or alternatively just what you can charge for rent, then how much profit you MIGHT make.

This is the Philippines. Not all that glisters is found to be gold

Oh, BTW, don't forget the legal fees.

I don't know if it's true or not, but I have heard say that many new condo developments these days now have a certain 'life' before needing to be re-cycled.
This is in terms of materials which tend to crack, crumble look tatty, get poor repairs etc.
This period has been said to be about 10 years.
Now I have no idea at all if there is any truth in this, but I do wonder.

This is not meant to be advice, a guide or even a general description. Just something that happened to me one afternoon.

As always no offence intended.

[Ako Si Jamie]

I'm not looking to buy a place just rent one. My mate bought a house in Bulacan and I've heard enough from him to put me off buying :icon_lol: but thanks anyway everyone.

And yes Graham, I did miss out a zero :doh
30,000 I meant :xxgrinning--00xx3:

[somebody]

Steer clear of a sari sari unless there is a proven track record of running a shop in the local area. Heard of issues with credit and even in some extreme cases mild cases of protection rackets from various officials. Even the nice very well off very near to Manilla city my Wife is from some of the stories of crime i hear about are very very vicious and serious. All those shops and resturants have armed security guards for a reason and even in places with a smaller turn over living in a country where if your poor you really do have nothing crime can pay.

Rental seems the next best option but research research and careful planning is required.

Firstly make sure Emma fully understands how much is available and the what risk if you lose it to you all is. I am not doubting your good lady wife for a second but its taken quite a few years for the Wife to get a true understanding of things from a Brit perspective as the figures she can see rattling though the bank accounts looks huge but we all know the bills are huge also here :omg:

The wife has some property dealings going on the original time scales, Costings the phills dreamt up among themselves (and it will happen on the phone and when over there in pinas) were when i said ok lets break this all down and put it on paper wholly unrealistic at first. In these discussions were the Wife, A tita who has experience in the Building supplies trade, A tita who has just been promoted to a Bank Manager, a Cousin of the Tita who is a Architect plus several others with experience with building and developing land in the local area.

It sounded like a dream team but it didn't quite work that way at first and if a person outside of the group (me but could of been anyone phill or brit who was detached from the group) had not facilitated and help people think though I think the costs in all senses could have been huge. Phills as we know often have a glass half full outlook which is great but you do need to be a bit cynical if your money is at risk..

Work though various scenarios what happens if the buildier or merchant rips you off somehow? How much occupancy do you need to be running at least on a even kneel? If the building was God forbid to be burnt down? Where will you find the punters from? For the wifes House rentals she is developing a friends family in the area have already built a serious amount of small rental houses (In this case mainly OFW familys houses) and so they have contacts and tried and trust methods of finding punters.

Also make sure someone (or several people ideally) you can trust with your life have experience or knowledge of how to go about something like this. The worse issue which tends to happen in phill is the Po system ie the people we should all rightly respect in life ie our elders start make decisions and giving advice when they may not be best suited to that role.

Good luck just don't rush in and take your time :xxgrinning--00xx3: