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Housing Loans for Condo

Sa mga nakabili na ng condos through housing loans, san po kayo nagloan? bank in ph? pag-ibig? or bank in sg? at isa pa, may kakilala ung kakilala ko and nabanggit ung ganitong strategy: nagaavail sya ng condo sa Pinas @ pre-selling rate. after some time at tumaas na value ng property before/during/after turnover, binebenta na and ung new buyer na magtutuloy sa monthly payment ng loan. so parang less money out and shorter period for ROI, di na masama. may idea ba kayo paano gawin yun?
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Comments

  • @maya strategy namin is not to take the pag ibig loan sa condo. I-reserve mo yan sa malakihang loan, like lote or bahay. Nagba bank loan kmi sa Pinas. Not in SG, ksi ung interes in SGD din.

    Regarding sa kitaan, tama pwede ka bumili ng unit at pre-selling price, pero risk syempre yan if mapapa ikot mo / mabebenta mo. Now, mas magiging benta-ble yung condo mo if meron na nagre rent. Dun papasok ung assume balance and all, so tama, roi kna kgad with profit in a short span. Mdami ako friends gumagawa gnitong scheme, buying multiple units tpos pinapa ikot. Good business but needs big capital.
  • san kayo nagloan @RDG at ilang % interest?

    ung friends mo sila ba mismo hanap buyer? or may agent? ung inavail ko kasi condo pre-selling @2.8M. wala naman kami balak tirhan yon at paparent lang sana. tapos ngayon tumaas na value, pre-selling pa rin pero 4.8M na sabi ng agent ko. so napapaisip kami, kaso no idea paanooo.
  • @maya bank loan yung samin 6.75% for 3yrs and remaining 2yrs depends on country's economy. Tumaas na loan interest dahil sa inflaution.
  • @maya ung isa kong friend agent nya nkahanap buyer. Syempre, binigyan pa din nya kumisyon. Yung isa nman sya nkahanap, mag aasikaso pa din si agent for the transfer, etc. Binigyan nlng nya around 3k, though hindi naman need bigyan kasi sila nman nakakuha ng bibili.

    Nag-loan kami sa PS Bank that time, 6.25% fixed for 5 years. Naka promo sila kaya nakakuha ng mababang int rate. Hanap ka lang, iba ibang promo ang lumalabas every month, make sure masuyod mo lahat ng bank proposal pra ma-maximize ang int rate.
  • edited October 8
    @isorn4x @RDG per annum yan? promo na yan tlga??? wala na ba mas maliit? so kung 3M ung loan @6.25% interest ay 187,500 per year?! so kung 5yrs to pay 937500? interest pa lang? grabe lungs. kaya pala ung friend ko, 15yrs to pay, interest pa lang ay total of 1.5M na. nalula ako.
  • haha. ganun tlga @maya . That's why ni-rereserve ko ung Pag ibig loan sa malakihan, like lupa, kasi mababa interest ni pag ibig. Kaso, 1-time ka lang pwede mag loan, and hnd ka pwde mag loan ulit kung di mo pa bayad. So, you have to make sure sa desisyon sa pag-ibig loan. Kung gagamitin mo lang sa condo, not worth it. I-cash mo nalang! haha :D

  • @maya I would say mas madali mag approve ang pag-ibig kaysa sa banko.

    Based from my experience mas mababa ang interest ng banko, then pag-ibig then in-house financing (not advisable dahil sobrang taas ng interest).

    Regarding naman investment in Real Estate you have to determine if ano ba gusto mo:

    1. Rent It (higher than the amortization para may kita ka) to have passive income.
    2. Flipping means sell the property and earn.


    I have 5 condominiums in Manila all rented out, some binili ko ng pre-selling.. yung isa binayaran ko ng full yung DP kasi pwde ng move-in (and they process the bank loan in 5 days PSBank mabilis...)

    So these are the things to consider:

    1. If long term ka at gusto mo ng passive income then just rent it out, just make sure na mas malaki yung rent kaysa sa monthly amortization mo, also do consider yung "Monthly Condo Dues" which is per sqm.

    Mahirap ma-determine ito kapag pre-selling pa so usually you have to do your research kung ano yung mga itatayo sa area na mga establishments... Pero once you hit it Ok tlga dahil ang nagbabayad is yung tenant and you are earning pa monthly + capital gains.

    Like sa isang condo ko my amortization is 11K for 15 years (13k including condo dues), that time (3 years ago) ang rent is 15K/mo.. now its 20k-25k (so I'm earning to it 7k-12k) and im not the one paying the amortization its the tenant...


    2. Ang downside if kinuha mo ng pre-selling is tulog yung pera for 2 years (usually) kasi you are paying the 10-20% down payment then saka palang ma-turn over. But the good thing is syempre mas mura mo makukuha yung unit and mas mababa din yung amortization.


    3. Ang downside naman if hindi pre-selling mo kinuha mas mataas na sya compare sa pre-selling but the good thing is mapapa-rent mo agad and umiikot na yung pera mo. So you have to check yung amortization + condo dues against sa monthly rental... You need to compute first dahil baka ang mangyari ang amortization mo is 20K then yung current rental market is just 15K abonado ka pa ng 5K.


    4. For Flipping its good to sell it after mo mapaupahan ng mga 3 years, but this depends.. assume balance ang mangyayari... Malaki din kita pero I haven't tried it.. but I know how to do it... it just mas long term ako. Hindi din kasi ganun kadali maghanap ng buyer.


    mayayenggay

  • @maya - Also I forgot if papa-rent out mo mas mahal if fully furnished... usually 60k to 80k to furnish a 24sqm condo... that includes aircon, ref, double deck, water heater, range hood, appliances, etc...

    Also sa bank loan you need to consider as well yung bank fees.. it cost 20k to 40k depending on the amount loan and bank, you will pay this once loan is approved.
  • @thematrix may I know bro sang bangko ka nag loan and how much interest and terms? If less than 3 years ang loan term mo, mas mababa pa din sa Pag-ibig @ around 6.3% last time I checked. 5 yrs and above, mataas talaga pero convenience wise, mas madali ma aprub sa pag ibig.
  • @RDG - I take loan sa UCPB, BDO and PSBank... I need to check the exact interest di ko na tanda as thats 8-10 years ago na...

    I'm comfortable at 15 years term loan sa banks.

    I inquired before sa pag-ibig and compared it to different banks (in 15 year term) and mas mababa ang banks. Probably mas mababa ang pag-ibig if its less than 3 years.

    Naka-reserve yung pag-ibig ko if in case I wanted to loan it for 30 years.
    maya
  • Oh ok @thematrix . Ok din strategy mo. Yung sakin, 2 condo din, Taft and Recto. Student ang target, kaya hindi nauubusan ng tenant. hehe.

  • @RDG - yes ok din yun sa students sure na mauupahan dahil sobra traffic lalo na ang aga ng pasok sa school. kaya mas prefer nalang ng student na magrent.

    Kaso nga lang i-realize na mas ok if ikaw bumili ng lupa tapos patayuan mo ng apartment for rent, long term talga na investment... the reason is mamanahin pa ng anak mo at apo mo (hehehe)... so condo kasi 50 years kumita ka na talaga pero not sure if tatagal ba yan nga 100 years para mapakinabangan ng anak mo at apo. (nakakita na kc ako ng HDB dito sa SG sa toa payoh na mga 30+ years na hehehe bulok na tlga...)

    but yes condominium investment is really good.. mahirap nga lang iliquidate if nakabili ka ng maling property...
    maya
  • @thematrix , korek. Meron din ako lupa sir, kaso hnd pa napatayuan, hehe. isa isa lang pra hnd din sagad. Mhirap pag lahat condo, u dont want to put all the investment sa iisang basket sabi nga. So, explore ako Agri, Telco, and Realty. Yan ang mga tutok kong investment sa Pinas. Maganda sa property sa Pinas is always tumataas ang presyo ,kasi nga 3rd world tayo, unlike dito sa SG and the rest of 1st world, nag fa-fluctuate ang property nila.
    maya
  • salamat! dami ko natutunan. basahin ko ulit mmya dhl busy sa work pa. by the way, ung inavail namin ay worth 2.8M pre-selling. Ngayon sabi ng agent ay good news daw dahil tumaas value a few months ago, pre-selling na daw @4.8M. Good sign yun dahil? diko alam. bakit kya tumaas value agad? ung nakuha namin ay sa smdc fame residences, along edsa shaw blvd. january2020 pa turnover.
  • and also, would you suggest na kumuha ng parking lot? worth 1M ung parking. napaparent din daw ang parking eh.
  • I just took my loan sa Security Bank at 5.25% interest rate. Yung condo naming is in Makati. If magpapaupa ka ng condo better you also get parking space.
    maya
  • @maya , if papa-rent mo, I suggest wag na kumuha parking lot. If ang purpose mo nman is tirahan or pra sa mga mahal sa buhay, mas ok na kumuha. If mag rerent kasi, for sure yan magco-commute nlng at hnd mag kokotse. kasi kung meron yang sasakyan, hnd na yan mag rerent, tama? hehe. And, to top that, additional expense na naman. Instead na parking lot ang kunin mo, ipasok mo yan sa iba pang investment. ;)
    maya
  • and thoughts on magpa-Airbnb?
  • Depende sa lugar and setup ng condo mo. My friend, nakakuha sya condo sa makati ave, ganda ng proximity sa CBD. Nagpapa air bnb sya, and target tlga nya is expats na nag 1 month stay or more. High end ung dating ng condo nya, so meron tlga sya specific target market. If magpapa air bnb ka din, dpat Fully Furnished na. Yung iba kasing condo, nka semi furnished lang, so more like long term rental, kasi ipapa-puno nya un sa mag rerent. Bottomline, u need to know ur market and area ng condo mo. If malayo sa CBD (Makati / Ortigas), maliit chance sa bnb. Unless sa tourist area which is Tagaytay, meron din ako friend nagpa air bnb dun.
  • pano po kayo naginquire sa mga banks? personal or pwede by email lng?
  • ung inavail namin ay worth 2.8M pre-selling. Ngayon sabi ng agent ay good news daw dahil tumaas value a few months ago, pre-selling na daw @4.8M. Good sign yun dahil? diko alam. bakit kya tumaas value agad? ung nakuha namin ay sa smdc fame residences, along edsa shaw blvd. hotel/resort type condo sya. wala tlg ako alam, basta nung bumili friend ko, bumili din kami. gaya gaya lang.
    RDG
  • magpa SPA ka. kelan ka ulit uuwi Pinas? Ung mom in law ko, sya ang nagtatawag sa mga banks. Then, negotiate thru email. Then, magpapa notary si bank ng SPA na sya (si mom-in-law) ang aming appointed representative. Then ayun, send mga docs and all. If good lahat, within 1 month, nakuha namin ung loan. Meron sila hanapin sa condo, so make sure meron ka din contact or ung agent mo, makapag bigay nung mga docs na need ni bank. Try mo ung sinabi ni lhetski, baba nung sa Security Bank interest, panalo!
  • kung 3M ung need iloan, tas may 1.5M kang cash, ibabayad nyo ba ung cash? para kalahati nlng iloloan?
  • @RDG - yep agree! ok diversified.

    Yung property kasi perfect sya for OFW dahil less supervision once ma-rent out mo.
  • @maya - yes good sign kapag tumaas yung value ng property/condo, yung ang isang maganda if kilala yung developer dahil they already know saan ilalagay yung condo, thats usual trend na after pre-selling tataas ang value, maraming factors din, but don't just believe the agent (ask him/her why tumaas...)

    # PARKING LOT
    Yung Parking Lot naman it depends... check mo muna yung ratio ng parking lot against sa number of units, what I know usually 20-30% lang ang parking lot na ginagawa ng mga developers so meron talagang market kung paparent mo.. but from my experience if into Real Estate Investment ka better get another unit than parking lot dahil mas madaling magbenta ng unit kaysa parking lot... Also if lets say yung bibili ng parking lot mo is walang unit doon yung probability na approve ng bank yung loan is low dahil preferred nila na yung magloan ng parking lot may unit. Banks know mahirap iliquidate ang parking lot hehehe... (not unless nasa makati yan parking lot).

    # CALL OR EMAIL
    I would suggest you call them, meron ang mga banks na toll-free hotline (so no charge if Singtel ka). Double check mo lang na maigi.

    # AIRBNB
    This is ok if may nakatutok kang tao sa Pinas to entertain the guest, mas malaki kitaan lalo na if nasa prime area yung lugar mo or tourist area. But may mga agents na masyadong matatalino na bina-bypass yung airbnb on behalf there clients etc... so dapat maingat ka. I tried this one and I prefer yung monthly rental dahil mas less stress, the more people you deal with the more BS you get hehehe...

    # CASH ON HAND AND LOAN
    Well may pros/cons kasi yan... For me I won't put my cash to lower down the loan.. I'd rather extend the loan tenure para pumasok sa comfortable amount yung amortization ko (since ang magbabayad naman nito is yung Tenant). You have to know din kasi the rentability ng unit mo. (Add value to if like furnish it, malinis, no smoking, etc.. para madali maupahan).

    When I have a lot of cash sitting I'm not happy, I invest that money to something it will make more money (short or long term). Putting that money in bank also is not good dahil if you put 1.5M in 10 years sa banko lang see now the inflation.. bank interest won't cope up with inflation rate :)

    But then again if you are the type of person na ayaw mo ng maraming iniisip, etc.. then go ahead you can pay the loan para mas bumaba yung amortization. It will always depends on your strategy, syempre lets say you loan it only for 3-5 years then nabayaran mo na... you can re-invest again. So ikaw makakapag decide for yourself at the end of the day.
    mayaMrJW
  • Thru Bank Financing ka. ask mo ung agent na magpaquote sa 3 bank. then pili kalang kung sino mas mababang interest rate.
  • @maya I wont spend my cash sa condo. Either iinvest ko yan sa iba or bili ng isa pang unit, pang down. hehe. Depende kasi sa mindset mo, if ur really into investing, madami maabot yang 15M mo, Definitely dont put sa bank, pag natulog yan dun, lugi kna sa inflation. Kaya meron ako ibang source of investment, pra ma distribute dun ung mga extras ko.

    What I'll do sa balance mo, is thru loan, either pagibig or bank, tpos stretch mo nlng. If mag ok yung rental mo, pwedeng ung rental na ang mag-seself sustain nung loan mo, again depends kung ano terms ng loan mo sa bank.
  • wow anggagaling nyo, dami ko natututunan.
  • Don't invest all your money sa condo. If you still have funds why not buy ng lupa malapit sa tagaytay, booming ang amadeo, alfonso, mendez and silang cavite.
  • I've been an Airbnb Host now for 2.5 months.. Ang saya kaya.

    Pero I agree yes you need someone dedicated, and who actually loves hosting. Because if the host is terrible and it's not his real passion and just doing it for a side line, gives rubbish service to the guests, then you get rubbish reviews and your listing will suffer.

    If you get a full time host to manage your property it's more passive that long term rentals. Long term rentals are a hassle when someone moves out, or when the lease ends. Usually when there's a change of tenant you no longer know the state of your investment property. With Airbnb, the Host is fronting your guests, and the unit will always be clean and repairs are fixed immediately. The unit owner doesn't really do anything.




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