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6-7Mphp H&L, 180sqm, rental income 40K, Good buy? Selling all stocks worthy?

jpm247 · 24 · 5706

jpm247

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A neighbor is currently selling to us his house and lot worth 6 Million PHP (not final, can go up to 7M, selling to others for that price) that is 180 sqm. bungalow.

Its currently being rented out for about 40k php per month. (4 single room and 1 front area for sari sari store)

Good location I would say(kapitbahay namin e  :D)

My first question is this a good time to pull out my investments on stocks to pay for this?
Or do instead just loan the amount?

I will be sharing the loan with my father and brother.

In total, we have about 900k (including stocks if I pull it out),
so we need to loan more than 5Mphp for this.

Also, san maganda umutang?
Currently Im an OFW earning about 90kphp only per month, single (obligation to parents and niece  XD)
Pambabayad din namin yung rental income for mortgage payment.


Is it a good buy? Mortgage wise, how much do I need to make from my job to pay for this alone?
I want to finish the loan in 5years  only (10years max kung mabigat haha)

Anything else do I need to take into consideration?

Thank you in advance  :thankyou:
« Last Edit: Apr 24, 2014, 10:32 AM by jpm247 »


Wills

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Diyaan sa house and lot sigurado kana.

Sa Stocks guano ka kasigurado?

Stocks and real estates are good investments, depends na sayo yan Kung San ka masSigurado.

Tandaan: wag mong itanong sa sarili mo kung san ka masmalaki kikita bagkus ang itanong mo sa sarili mo ay "saan ako siguradong kikita?"


ferrariEverest

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Diyaan sa house and lot sigurado kana.

Sa Stocks guano ka kasigurado?

Stocks and real estates are good investments, depends na sayo yan Kung San ka masSigurado.

Tandaan: wag mong itanong sa sarili mo kung san ka masmalaki kikita bagkus ang itanong mo sa sarili mo ay "saan ako siguradong kikita?"
The more important questions to ask himself are "What are the risks involved?" and "Am I prepared to take these risks?". Tapos dapat may mga plano siya.


jpm247

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INDO

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kung yung loan amortization mo equivalent sa magiging rental income, GO na, wag ng magdadalawang isip. sana makakahanap ka ng ganun :)

wag mo lang ibenta lahat ng stocks mo, magtira ka naman lalo na if profitable naman yung strategy mo, wag mong isara yung kumikita mong bisnis (stock).



bauer

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My first question is this a good time to pull out my investments on stocks to pay for this?
Or do instead just loan the amount?

I will be sharing the loan with my father and brother.

In total, we have about 900k (including stocks if I pull it out),
so we need to loan more than 5Mphp for this.
 

^ You have no problems right now.  your life is comfortable and you are in the right direction (stock investment - as long as you continuously study it).

By purchasing the house and lot using loans (5M), you are just creating headaches for yourself and your family as well (since your father and brother will share the burden).

Your funds are insufficient and you are rushing to accomplish things that might be beyond your regular capacity.

Build your wealth thru savings first.  Avoid loans especially if it is more than 50% of the intended purchase amount.

Sa plano mo, yung bangko lang ang magiging masaya.


empleyado

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How much will you loan, how much is the interest rate, and how many years to pay?


wilch23

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All I can say is - If I were in your position, pass muna.
Even if rental is enough to pay for amortization, payment to bank is constant, rent is not. Meron pa repairs, real tax etc


ferrariEverest

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Baka maging sakit ng ulo lang yan sa hinaharap. :D Masakit rin sa ulo ang pa-renta pag hindi ka sanay.


bauer

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@jpm247,

Hindi rin papasa ang loan application mo in most banks.  The H&L cost 6M and you have 900k so your loan is 5M plus.  Your equity is only 15% of total contract value.  Most banks require 20 to 30% equity from borrowers.


n5110

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Pass din ako dito. Ang laki ng risk in my opinion. Yung property na nabili ko sa bank, sinub divide ko sa 8 door res/com spaces earning close to 40k. Self liquidating with small passive income na. Maski may ma vacant na isa or dalawang unit hinde mabigat sa akin. Dyan sa house pag umalis ang tenant mo zero agad earnings mo. May back up plan ka ba dyan?


jpm247

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OK, salamat sa mga payo.
Pinag iisipan pa namin mabuti ito kasi mismo tabing bahay namin kaya interesado talaga kame. Tingin namin wala na ibang chance na bilhin namin to kung papalagpasin namin kasi binigyan din kame ng discount nung may ari.

@n5110- 5 yung tenant nung bahay bale, 4 na kwarto, tpos 1 tindahan sa harap na rinerentahan ng mas mahal.

@bauer - may isang option kami dun sa SSS kasi yung brother dun nagttrabaho, kung papasa yung loan dun saka lang namin kukuhanin. Mas madali yung payment option dun kasi hindi mahigpit sa employee. Kung hindi dun, hindi na namin kukunin.

@ferrariEverest - meron naman experience sa pagpaparenta kasi caretaker din yung father ko para dun sa bahay nung uncle ko. Mga 6 na tenant(students) dun malapit sa school so may kaalaman naman namin sa pinapasok namin :) nagpapart time din father ko sa barangay (arbiter), alam nya yung mga case lalo na mga hindi nagbabayad ng renta.


freefront

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I'll play devil's advocate and tell you to go ahead and acquire that property.

 Why? Because you want it. Granted, a lot more people had been called fools for going ahead with a deal even when numbers were crunched and it clearly showed a red line. But, there are a few exceptional ones who dared to take the leap and managed to line up their ducks in a row---sa maski anong paraan( like a guy I know who ate all the food in his sister's ref, never bought a new pair of jeans for 5 years, didn't come home for vacations either,etc. but now owns a bldg. with 64K monthly income).

Two, it will involve your pader and your brader ---> I'm thinkin' there's got to be a deeper reason for you wanting that adjacent property to change it's title  ;)  Some people will show grit and join the sacrifice if the "why" of the exercise hits them hard enough.

Three, it is an "opportunity buy". When will that property be placed on the sale block again? Probably not for another generation.  Nice of your neighbor to think of you first. Maybe you could strike a deal to make the down payment in tranches bec. banks don't lend to people without money and to those reeking with desperation. Sure, what money you have has been marked for down payment---but it is still in your hands while you are processing the loan (I believe it is called faking it while trying to make it).

Four- is personal. I'm moving and I'm all sorts of disturbed and such. But, the adage about making a mark on one spot on this planet takes a deeper meaning( i pseudo own the spot). For the above nonsense, yes, I'm a girl. Bauer and co. might be swimming in money along with the sharks that go with, but I claim to be 100 yrs older than all of them  :D

Goodluck. Both lines of reasoning might hold true. You, and only you, know the real score of your finances and family/friends' support, and how much balls and grit you have.


jpm247

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thanks freefront. Natumbok mo yung mga rason :)

Also, nagfifit in sa 3 criteria yung bahay na gusto namin... location,location,location.


richpulubi

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Have you checked how much other houses around your neighborhood?  Is his price expensive or cheap?  Does the house have any encumbrances?  Malinis ba ang titulo? 

Yung tenant, problem tenant ba?

And most important...WHY IS HE SELLING?  Noone sells a good investment, di ba?


 


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