3 Tier Question

[fish_bone]

Wife and I (with 200k net income, w two small kids) decided to now rent instead of buy a property to live in. We have an Ortigas condo in our possession paid for generating 30k but we’re thinking of moving to upper antipolo since WFH forever and healthy for growing family.

Questions:

1.) Our thinking is that if we buy a house now to live in, then we’re conflicted between what is an investment and what is personal. so decision to rent instead comes off from this. does it make sense?

2.) What are all the apps and avenues that we need to explore (e.g. Lamudi, FB marketplace) to say that we have made a thorough search of our rental options?

3.) Given our income, any chance to invest in real estate without taking out loans that big? Like buying farmlots in the province and if so, where to start?

Thank you!

 

[seekerfinder]

@fish_bone

1. yes it makes sense. that’s how i approach it as well
2. lamudi and fbmp lang din gamit ko, but i am also subbed to foreclosure listings (dm me for the site)
3. if you’re interested in buying farm lots, hanap ka sa tanay or pililia since nasa antipolo na naman kayo and these two towns are growing

 

[fish_bone]

@seekerfinder thank u!!!

 

[annac89]

@fish_bone I live in Antipolo. I suggest driving through subdivisions one weekend and contact the sellers directly.. lots of for rent/sale tarpaulins posted on houses. Meron sa FB groups but that would involve joining lots of Antipolo-based groups. You'll miss a lot of good properties if you just rely on popular sites

Most na for sale are looking for cash but tbh the prices are good, 3-10M. You won't find that rate in Manila. So if afford niyo, you may consider.

For rent you can easily find 2-3BR houses in gated subdivisions rented for 20k or less so good na your Ortigas property will easily cover rent and bills.

 

[btomov]

@annac89 This is a good advice. Not many people know that a lot of rentals and for sales don’t get posted online.

 

[fish_bone]

@btomov awesome! tara na sa antipooolooooo

 

[promise2]

@fish_bone

1. I think getting a house would fall under personal use as through time you will have to spend for upgrades, maintenance, taxes, etc. It would be considered as an investment if you would sell it in the future?
2. Not sure on other options either
3. Invest on REITs instead and get dividends

 

[by_christ]

@fish_bone

3.) Given our income, any chance to invest in real estate without taking out loans that big? Like buying farmlots in the province and if so, where to start?

You can also consider REITS haha. You're technically investing in real estate.