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Author Topic: make money work for you through realestate: how?  (Read 66905 times)

Travs

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Re: make money work for you through realestate: how?
« Reply #30 on: June 01, 2006, 02:20:34 pm »
travs,

HDMF also accepts renovations.

what is HDMF?

alnl01 -

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Re: make money work for you through realestate: how?
« Reply #31 on: June 01, 2006, 03:02:39 pm »
travs,

HDMF also accepts renovations.

what is HDMF?

Hi Travs,

HDMF is Home Development Mutual Fund or Pag-Ibig

Travs

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Re: make money work for you through realestate: how?
« Reply #32 on: June 01, 2006, 09:19:44 pm »
thanks! the picture is getting clearer and clearer.

next is...paano magpapa-rent to own? anu-ano mga processes or papeles na kailangan?

jeyps

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Re: make money work for you through realestate: how?
« Reply #33 on: June 01, 2006, 10:36:02 pm »
aln01, meron ka bang list ng mga foreclosed properties? preferebly q.c. or pasig area. maghahanap nga ako sa union bank eh. dun na siguro yung may pinakamagandang terms..

if you're looking for foreclosed properties, avoid bpi and metrobank. believe me.

alnl01 -

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Re: make money work for you through realestate: how?
« Reply #34 on: June 02, 2006, 07:54:12 am »
aln01, meron ka bang list ng mga foreclosed properties? preferebly q.c. or pasig area. maghahanap nga ako sa union bank eh. dun na siguro yung may pinakamagandang terms..

if you're looking for foreclosed properties, avoid bpi and metrobank. believe me.

Meron akong list, landbank. Check ko kung merong qc or pasig.
will send you PM

etten

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Re: make money work for you through realestate: how?
« Reply #35 on: June 02, 2006, 10:48:06 am »
think this one is worth sharing.....
Keep Working Your Day Job

Martinez says the best way to build your security and investments is to continue to work your nine-to-five job and invest in rental properties in your off-hours until there is a stable enough income to quit.

"It took me two years to do this. It might take less time for other individuals who can ramp up more quickly, it might take longer [for others]," says Martinez.

He recommends this for obvious reasons such as maintaining lifestyle, paying bills, and supporting family. But Martinez says keeping a steady income from a job also helps with securing loans.

"When you obtain financing for your properties you need to show that you've got income, right? And also, when you leave your day job you need to show that you've been investing in real estate for probably about two years. Banks will be hesitant to loan to you if you haven't been in the rental business for at least two years." says Martinez.

Martinez spent most evenings working on his investments. He attended landlord groups, read real estate investing books, took courses, met with real estate brokers, did his due diligence on rental properties, and sought investment mentors to help him quickly understand how to successfully turn rentals into a replacement salary for his day job.

Buy Only Rental Properties with Positive Cash Flow
"You can't buy properties that lose money every month. If you do that you won't survive in this business. The name of the game is to find those right properties that actually make you money, not the properties that lose money," he said.

He points out that as the real estate market changes investors might not be able to count on the appreciation being as high as it has been in the past, "So you really have to count on the cash flow." Martinez says that way you'll be able to buy more properties sooner.
Create a Support Team that Helps You

"You can't do this alone. You can't be successful if you do this in a vacuum. You need people to help you and you need the right people," says Martinez.

He recommends putting together a team consisting of: an attorney specializing in real estate law or tenant law, a real estate agent, tax accountant, mentors from real estate clubs, colleagues who are growing along with you, mortgage brokers, other industry vendors, and property managers.

"The difference between a landlord and an investor is the following: if you buy a property and you manage that property day-to-day and you're receiving phones calls at three in the morning about clogged toilets, then I call that a landlord. If you buy a property, you put up the financing, you organize the property, you close on the property, and you put a property manager in place and you manage a property manager, I call that an investor," says Martinez.

He says becoming a real estate investor should be the goal for everyone who eventually wants to replace their day job salary with rental income salary. Being a landlord takes up too much of your time and is a distraction from "buying and looking for the next big deal," says Martinez.

As you get more properties, Martinez says the best time to quit your day job is once all of your rentals are stable and securely producing a stream of income revenue.



Parang ganito exactly ang advice ni Kiyosaki...
Para kang nag laro ng cashflow, pero in real life...

babe

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Re: make money work for you through realestate: how?
« Reply #36 on: June 02, 2006, 11:33:42 am »
very impormative! siguro andun p lng din ako sa stage 1...pero true 1 talaga sya sa magandang investment 4 d future! sarap nga magbasa eh kahit pa nga sabihin png nanlalabo na ung mata ko sa kakabasa hehehee.....nakaka inspired!  ;)

marissa falvo

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Re: make money work for you through realestate: how?
« Reply #37 on: June 02, 2006, 12:20:20 pm »
biz900,

5. I suggest you read "think rich pinoy" i forgot the author he he but its available in national bookstore.


Think Rich Pinoy.
I read that book from cover to cover in one sitting!
200php at National Bookstore and PowerBooks.
by Larry Gamboa.

jeyps

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Re: make money work for you through realestate: how?
« Reply #38 on: June 02, 2006, 12:31:50 pm »
I've met larry gamboa. he's a very simple guy. you would never thought that he's the person who authored that book..

alnl01 -

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Re: make money work for you through realestate: how?
« Reply #39 on: June 02, 2006, 12:39:44 pm »
biz900,

5. I suggest you read "think rich pinoy" i forgot the author he he but its available in national bookstore.


Think Rich Pinoy.
I read that book from cover to cover in one sitting!
200php at National Bookstore and PowerBooks.
by Larry Gamboa.

Rissa,

Maganda ba ang book na ito?

marissa falvo

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Re: make money work for you through realestate: how?
« Reply #40 on: June 02, 2006, 02:13:13 pm »
yup! and surprisingly cheap too compared to other books.
 ;D

i've been holding off reading it when i first saw it.. thinking its one of those books riding the wave of kiyosaki's RDPD concept..
but, nung oras na para basahin sha, after 6mos din yata, it again caught my attention.. read it and i was hooked.

now i'm interested in trying it out once i figure out the logistics and gather up my resources.
its a win win thing kase, the rent2own thing.

you free up the bank of their NonPerforming Assets, you help out Filipinos get their own dream homes, and you get to have a steady passive income for the upcoming years...

ideally ha.
i think that's one investment vehicle you would want to look into.

:D

alnl01 -

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Re: make money work for you through realestate: how?
« Reply #41 on: June 02, 2006, 02:57:57 pm »
yup! and surprisingly cheap too compared to other books.
 ;D

i've been holding off reading it when i first saw it.. thinking its one of those books riding the wave of kiyosaki's RDPD concept..
but, nung oras na para basahin sha, after 6mos din yata, it again caught my attention.. read it and i was hooked.

now i'm interested in trying it out once i figure out the logistics and gather up my resources.
its a win win thing kase, the rent2own thing.

you free up the bank of their NonPerforming Assets, you help out Filipinos get their own dream homes, and you get to have a steady passive income for the upcoming years...

ideally ha.
i think that's one investment vehicle you would want to look into.

:D

Will try to find a copy at NBS.. thanks rissa

Travs

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Re: make money work for you through realestate: how?
« Reply #42 on: June 02, 2006, 04:46:55 pm »
thanks! the picture is getting clearer and clearer.

next is...paano magpapa-rent to own? anu-ano mga processes or papeles na kailangan?

hello...?

hehehe bump ko lang po itong question ko

Travs

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Re: make money work for you through realestate: how?
« Reply #43 on: June 02, 2006, 04:47:48 pm »
if you're looking for foreclosed properties, avoid bpi and metrobank. believe me.

noted.

but why?

Farah_ChocolateBar

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Re: make money work for you through realestate: how?
« Reply #44 on: June 02, 2006, 09:03:18 pm »
if you're looking for foreclosed properties, avoid bpi and metrobank. believe me.

noted.

but why?

Suggest pa po kayo ibang bank na maganda ang terms. Nabangit ninyo po unionbank.

Ano po ba ang mga dapat namin tandaan if bibili kami ng foreclosed na property?

 

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