Sean Posted March 26, 2018 Posted March 26, 2018 According to local media, they have some dispute with their building contractor. See the link here; http://palawan-news.com/regatta-bay-blames-contractor-housing-delays/ So you ended up on Boracay. Good choice. I'm looking for a beach-side resort complex, one bedroom or studios. May I be so cheeky as to pick your brains as you're on the ground there? Any recommendations? I appreciate any advice you can give. 1 Link to comment Share on other sites More sharing options...
Snowy79 Posted March 27, 2018 Author Posted March 27, 2018 On 26/03/2018 at 4:25 PM, Sean said: According to local media, they have some dispute with their building contractor. See the link here; http://palawan-news.com/regatta-bay-blames-contractor-housing-delays/ So you ended up on Boracay. Good choice. I'm looking for a beach-side resort complex, one bedroom or studios. May I be so cheeky as to pick your brains as you're on the ground there? Any recommendations? I appreciate any advice you can give. Are you looking to live in it or to use it as an investment? Rule number one only buy titled property. Ensure if it's a condo it complies with all environmental rules as various places in the Philippines are now getting hammered in the latest purge. If it's rental buy in a major tourist area. Link to comment Share on other sites More sharing options...
Sean Posted March 27, 2018 Posted March 27, 2018 Both. Looking to live in one unit and airbnb others out. Maybe buy 10 units or so in a resort type development. Link to comment Share on other sites More sharing options...
Dr. Shiva Posted March 27, 2018 Posted March 27, 2018 This case is another lesson in never buy anything that is not already builded finished and ready for move in. Even contractors can get trapped in real estate issues. 3 Link to comment Share on other sites More sharing options...
codermonkey Posted March 27, 2018 Posted March 27, 2018 10 units is likely to run into 1 million+ dollars. You never really own in PI after 50 years your lease will expire on all your properties. Link to comment Share on other sites More sharing options...
Jollygoodfellow Posted March 27, 2018 Posted March 27, 2018 3 minutes ago, codermonkey said: 10 units is likely to run into 1 million+ dollars. You never really own in PI after 50 years your lease will expire on all your properties. Can you please quote who you are answering? Anyway buying a condo is not leasing. 3 Link to comment Share on other sites More sharing options...
Snowy79 Posted March 28, 2018 Author Posted March 28, 2018 10 hours ago, Sean said: Both. Looking to live in one unit and airbnb others out. Maybe buy 10 units or so in a resort type development. I'd seriously just buy one to live in and at a push two other condominiums to rent out. Live off of the rental income and enjoy life with your savings. You never know how the Philippines will change so you could end up losing everything. I've seen a few resorts for sale and plenty abandoned. The same goes for the typical mansion that foreigners build. They look great status symbols to stsrt with but in 10 years time they're about as attractive as flared trousers and you'll be lucky to sell and move on. I'm looking at this purely from a retirement perspective. We retire to enjoy life not to give ourselves additional stress when we have more than enough money to see our days out and leave enough for the family. 4 1 Link to comment Share on other sites More sharing options...
OnMyWay Posted March 28, 2018 Posted March 28, 2018 11 hours ago, Jollygoodfellow said: Anyway buying a condo is not leasing. Can a foreigner buy more than one condo? For some reason I had it buried in memory that you could only buy one, but I have having a lot of memory errors lately! 2 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted March 28, 2018 Posted March 28, 2018 1 hour ago, OnMyWay said: Can a foreigner buy more than one condo? triple like. That is a darn good question. Would love to see legal links with any informed answers. 3 Link to comment Share on other sites More sharing options...
Clermont Posted March 28, 2018 Posted March 28, 2018 On 3/26/2018 at 6:25 PM, Sean said: According to local media, they have some dispute with their building contractor. See the link here; http://palawan-news.com/regatta-bay-blames-contractor-housing-delays/ So you ended up on Boracay. Good choice. I'm looking for a beach-side resort complex, one bedroom or studios. May I be so cheeky as to pick your brains as you're on the ground there? Any recommendations? I appreciate any advice you can give. Sean, according to the link you supplied, be careful. Some estates sell bungalow type houses as condos seeing there is a condo complex unit on the same estate. this has been bought up before, ( what constitutes a condo ). If I was investing serious money like you intend to, get a proper real estate lawyer in Manila that is reputable, even if it cost a few grand, don't penny pinch. Also, go to a second lawyer and put the same case to him without telling him you already have advice, then work out the difference. If conflicting reports, do what Snowy 79 said, 1 1 1 Link to comment Share on other sites More sharing options...
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