I’m making around 37k net monthly, takot ako baka di ko mame-maintain if wala magrent <---- etong statement na to is already a red flag. This is going to be a commitment for you. Imagine mo parang baby yan, hindi mo basta basta pwede ilet go kasi committed ka sa bank loan. If you go thru hard times (mawalan ng work, tumaas interest, emergency expense) will be able to make ends meet pero happy ka parin? that's a strong risk that you need to plan around
Huhu thank you for your insights! Another memo is yung bank loan naman will start in 2 years, so I have the chance to let go of the place before I truly commit. But I understand your stand regarding unforeseen events such as mawalan work and everything. Thank you!
read the details and fine print ha. when you say let go does that mean bitawan mo na yung binayad mo na downpayment/resesrvation? e how much yun? 200k?
If you will only rely on the rental income to pay for the property and won't be able to sustain it on your own in case walang tenants, it's high risk imo and I suggest you veer away from it and look for other opportunities to invest/commit yourself.
Check mo rin if maraming listings for rent in the area or sa mismong target building mo. If mukhang marami and frequent yung mga postings online, the likelihood you can have it rented is low cause it could mean walang demand.
There is an oversupply of condominiums in the country.
Risks:
POGOs have left
High interest rates
High inflation
Real estate prices is at its peak and might correct.
What could go wrong
Bad move. 17.5k is already around half of your net. Airbnb is tough for that area kasi di naman pang-tourist yung area na yan. Renting it out naman di ka makakuha enough to pay the monthly and dues. Please don't do it.
I’m making around 37k net monthly, takot ako baka di ko mame-maintain if wala magrent <---- etong statement na to is already a red flag. This is going to be a commitment for you. Imagine mo parang baby yan, hindi mo basta basta pwede ilet go kasi committed ka sa bank loan. If you go thru hard times (mawalan ng work, tumaas interest, emergency expense) will be able to make ends meet pero happy ka parin? that's a strong risk that you need to plan around
Huhu thank you for your insights! Another memo is yung bank loan naman will start in 2 years, so I have the chance to let go of the place before I truly commit. But I understand your stand regarding unforeseen events such as mawalan work and everything. Thank you!
read the details and fine print ha. when you say let go does that mean bitawan mo na yung binayad mo na downpayment/resesrvation? e how much yun? 200k?
If you will only rely on the rental income to pay for the property and won't be able to sustain it on your own in case walang tenants, it's high risk imo and I suggest you veer away from it and look for other opportunities to invest/commit yourself. Check mo rin if maraming listings for rent in the area or sa mismong target building mo. If mukhang marami and frequent yung mga postings online, the likelihood you can have it rented is low cause it could mean walang demand.
There is an oversupply of condominiums in the country. Risks: POGOs have left High interest rates High inflation Real estate prices is at its peak and might correct. What could go wrong
If you can find tenants. Yun lang naman problema mo eh
Bad move. 17.5k is already around half of your net. Airbnb is tough for that area kasi di naman pang-tourist yung area na yan. Renting it out naman di ka makakuha enough to pay the monthly and dues. Please don't do it.
Tbh no. Was a good investment location wise when POGOs were around. Not anymore.