Rent Control Law in the Philippines
July 16, 2009
On July 14, 2009, President Gloria Macapagal-Arroyo signed into law the Rent Control Act of 2009 which will supposedly protect millions of Filipinos renting houses around the country.
Republic Act (RA) 9653, “An Act Establishing Reforms in the Regulation of Rent of Certain Residential Units, Providing the Mechanisms Therefore and For Other Purposes,” effectively extended the old Rent Control law (RA 9341) that expired on December 31, 2008.
Play Cashflow 101 game for free!
February 2, 2009
Want to play Robert Kiyosaki’s Cashflow 101 board game but not willing to join paid sessions where you have to shell out money? Interested in listening to stories and experiences of genuine real estate investors so you can start becoming one too?
Then join PinoyMoneyTalk’s Free Cashflow 101 Game and Workshop in the Philippines! Initiated by PMT member CondoInvestor (an investor not just of condos but of hundreds of other real estate properties too!), the Workshop is an opportunity for anyone who wants to learn more about investing in foreclosed houses or condominium units or managing real estate properties.
The best part is, it’s free!
Your house: an asset or a liability?
November 28, 2008
There’s an interesting discussion going on in the PMT Forum, about one’s residence and whether it is an asset or a liability.
By definition, an asset is anything that can directly or indirectly contribute future cash flows. A liability, on the other hand, is anything that can result to a transfer or disposal of an asset.
In this context, is the house an asset or a liability? Here are a few thoughts from some PMT members.
Tips when buying a condo unit
October 9, 2008
Here is a list of things you should consider when buying a condominium unit. Price is definitely a major issue but should not be the only issue.
After living for more than a year in a Makati condo and for three months in a condo at The Fort, I have identified seven (7) basic but important things that must be considered before purchasing a condo unit.
Feel free to add your inputs to the list!
Read more
Makati condo for sale (Oriental Garden near Ayala Avenue)
July 21, 2008
For sale: Oriental Garden Makati – Lotus Tower (Studio Unit at the 26th Floor)
—– UPDATE September 15, 2008: This unit has already been sold. —–
Location: Buendia cor. Chino Roces beside Export Bank Building (a block away from Ayala Avenue, Makati City)
Floor Area: 33 sq. meters, 26th Floor
Parking: None
Price: Php 2.7M RUSH SALE! Just P2.5 million (US$56,000) (Cash, Bank financing, Flexible terms negotiable)
Condo for rent: The Fort (Bonifacio Global City Taguig)
July 21, 2008
For rent: Fifth Avenue Place (1-Bedroom Condo Unit)
Available right now (August 2009)!
Declining home prices in the US
June 22, 2008
Americans are really beginning to feel the effects of the subprime mortgage problem. A news article from CNN Money reported that home prices in the US dropped 7.7% in the first quarter of 2008 compared to the same period last year.
Impact of Dinna Revilla’s arrest on foreclosed property business
February 20, 2008
The renowned guru of foreclosed property investing in the Philippines, Dinna Revilla, was arrested three weeks ago and her supposed fraudulent schemes were featured last week on GMA7’s Imbestigador.
The arrest was based on estafa complaints by her investors, after Dinna allegedly continued collecting funds although the real estate properties were already foreclosed by the bank. In addition, several of the checks she previously issued as payment to investors bounced.
This development caused several people to believe that the foreclosed property investing venture espoused by Dinna and Think Rich! Pinoy author Larry Gamboa was a fraud.
Dinna Revilla arrested?
January 31, 2008
The latest news in the Philippine real estate investing industry is that Dinna Revilla, a renowned guru of foreclosed property investing in the country, was arrested yesterday due to accusations of estafa.
Revilla, author of the foreclosed property investing book Riches in Foreclosures and mentor to Think Rich! Pinoy author Larry Gamboa, allegedly misappropriated the invested money of beauty queen and TV host Miriam Quiambao and four other people.
The Philippine Star and the Manila Standard have the scoop on the issue.
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Miriam Quiambao files raps vs realty firm
Former beauty queen Miriam Quiambao and four others filed a syndicated estafa case yesterday against an alleged incorporator of a real estate investment company before the Manila City Prosecutor’s Office.
Buying and owning property in the Philippines
September 24, 2006
Compared to other countries, the Philippines still has a highly-regulated real estate industry. There are strict rules with regard to purchasing, owning, and investing in real estate and, by default, foreigners are not allowed to own property.
Here’s a primer to help you understand how to buy, own, and invest in real estate property in the Philippines.
Question 1: I am a former natural-born Philippine citizen but have become a naturalized American citizen. Am I still allowed to own land in the Philippines?
Answer 1: Yes. Any natural-born Philippine citizen who has lost his Philippine citizenship may still own private land in the Philippines up to a maximum area of 5,000 square meters in the case of rural land. In the case of married couples, the total area that both couples are allowed to purchase should not exceed the maximum area mentioned above.
