New and Used Car Talk Reviews Hot Cars Comparison Automotive Community

The Largest Car Forum in the Philippines

Results 1 to 7 of 7
  1. Join Date
    Oct 2002
    Posts
    4,457
    #1
    Hi guys, I'm thinking of getting a unit in one of the upcoming condos in ortigas center. Monthly amortization niya is 10k siguro for 20 years yun.

    I'm wondering, is this a good business kung ang plano ko is to have it rented? or sell it upon completion?

    Iniisip ko kasi I can pay for the amortization only up to the time that someone will be renting it na since they will be paying the amortization na in effect plus a little change for me (magkano kaya)?

    Is this a good move?

    Thanks.

  2. Join Date
    Oct 2002
    Posts
    3,872
    #2
    djerms,

    look at it this way, it's a buyer's market as far as condos are concerned and there's a lot of supply as far as vacant (for rent) units are concerned. what will make your unit more attractive for rent is to have some basic furnishings (bed, ref, tv and microwave or stove) there so that all the lessee has to do is move in his clothes.

    selling upon completion is not so bad provided you can get a substantial premium over what you've paid and you're able to minimize your tax exposure (capital gains tax).

  3. Join Date
    Oct 2002
    Posts
    10,820
    #3
    you also need to factor in the condominium dues. average rate yata is P50/sqm/month. so kung 80 sqm ang unit mo then you will need to fork out P4000/month. plus the depreciation cost of the appliances and furnishings that you will buy.

    muntik na kami kumuha last month ng condo, same idea that you have i-rent out namin. but after computing everything e abonado pa din. ang kikitahin mo lang talaga is yung appreciation ng price of the condo unit. so better pa, for the price of say 5M condo + P0.5M parking space, e buy na lang ng lot then build townhouses on it and then rent out. and since townhouse style yun e pwede mo sell later on when you need to.

  4. Join Date
    Oct 2002
    Posts
    4,457
    #4
    Yebo & Altis,
    Thanks for the inputs. I need to rethink this plan. Namulat ang mga mata ko. Luring kasi yung location eh but I never realized that I also need to think of these things that you mentioned.

    Yebo: Natuloy na townhouse plan mo? How was it? Dami din townhouses dito sa Marikina, okay din but problem is natatakot ako baka mahirap humanap ng magrerent.

  5. Join Date
    Oct 2002
    Posts
    10,820
    #5
    plan lang yun, puro drawing sa hangin hehehehe! ibenta ko pa muna lupa ko sa province, then depende sa ihip ng hangin ... madami kasi options e, gaya ng bahay namin gusto i-rent/buy ng chinese (number 8, ganda fung sui, name my price daw) so pwede ko pa-rent bahay then ... a basta magulo pa isip

    lamang ka kung townhouse kasi bukod sa mataas din ang rent e mas mataas ang value ng townhouse kesa sa condo, wala ka pa condo dues. pero sana ikaw ang magpatayo kasi mas mura kesa sa kung bibilhin mo lang na gawa na. like say ang price ng townhouse kung bibilhin mo e nasa 3.5M, kung ikaw ang bibili ng lupa tapos ikaw magpapatayo e baka abutin ka lang ng 2M per unit. remember ang townhouse e tipid sa pader, mas mababa construction cost kesa sa single detached.

  6. Join Date
    Feb 2008
    Posts
    5,179
    #6
    sir ganito po business ng mother ko... pero apartments naman sakanya.

    well ang masasabi ko lang ay if your looking for a business type of condo, its always location location location.

    yung sa mom ko hindi pa naman nababakante ever since kasi maganda location. yung tito ko naman naglagay sa loob ng isang village sa malabon... though hindi binabaha yung place eh wala naman school or business district na malapit para may magrent. kaya sometimes bakante ng matagal.

    its a good investment if you have enough money tucked away na hindi moving. pero to risk monthly payment on that and just relying on the rent for the mortgage... parang not a good idea.

    if you are near schools then thats the best kasi hindi naman bibili ng units yung mga parents na tiga province just for the education of their children. they will still rent lang.

  7. Join Date
    Oct 2002
    Posts
    1,496
    #7
    great inputs guys.

Condo business