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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?
Comments
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.
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.
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.
@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.
@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.
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.
@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...
Yung property kasi perfect sya for OFW dahil less supervision once ma-rent out mo.
# 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.
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.
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.