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Hello,

My name is Geoffrey, living in Belgium. My father is from the Philippines.  We have contacts and family there, but I want to do everything by myself. I want my family to know me there when everything will be in place. My project: I would like to find a place to rent near a beach in  Palawan (idealy San Vicente) to build or rent (long term) some cottages (made with artisanal materials)for tourism.

If you have any advice to give me, don't hesitate. I am very happy to have found this platform and to be able to exchange with you! Greetings!

GM

What most people forget, is to make a calculation (a business plan) for the investment. The basis is:

1. what product
2. in which quantity
3. at what price

So, in your case: cottages for rent, how many days of the year you can rent them out * Number of cottages, rate per day

Next step is a marketing research. What is already there and how much do they charge for a night. Now you have an idea how much revenue you can make. Then you need to subtract the costs of sale. (Utilities, taxes, cleaning, maintenance, depeciation, interest, ....) This will give you an expected income.

Next you need to consider the construction costs of the cottages, the price for the lot, the taxes, the fees, ...

Now you need to make a calculation. How long does it take to payback the initial investment with the expected income. If this is more than 10 years, it is called a failed investment. So, it is better not to take a loan or in case you have the money to leave it working for you (shares, bonds, saving book, ....)

I have seen many Filipinos here in Boracay who are so keen to make business that they buy condos for 10M PHP on a loan and now they face the fact that they can only make 2500 PHP for the night. Unable to pay the loan back, the bank takes the condo or in case they made the money (as an OFW) they give up the condo and don't pay the association dues.

So my advice to all who want to make business is to make a business plan and a marketing research first.

Andy from Boracay (8 years in the Philippines)

@Andy_1963

I have seen many Filipinos here in Boracay who are so keen to make business that they buy condos for 10M PHP on a loan and now they face the fact that they can only make 2500 PHP for the night.

Forgive my lack of experience here. I live in Dumaguete, far from Boracay and where we do not have banks regularly loaning 10M to real estate investors for condo dwellings.  I very roughly estimate that a bank loan there for 10M for 30 years at 6% would require a payment of around 70K monthly. Assuming every nite gets rented (which Is an overestimation for sure)  the revenue would be 30*2.5k or 75K which would still be a loss considering taxes, maintenance and such. My issue is, with the arithmetic is so simple, even if the investor were so naive as to  not do the simple math to see he is screwed, we also have a registered bank that employs professional loan officers and accountants. This does not require a formal business plan, just a simple arithmetic calculation. My question is, how could any bank registered with BSP agree to make such a bad loan?

@Julien

Hi Julien, JOEY here. Lives in Los Angeles and planning to settle in Leyte in the next couple years!

Hello All,

Roland here, arriving in MNL beginning of March after 6 past visits over the years.  I'm an American raised in Hawaii of mixed Spanish/Filipino/Puerto Rican descent.  I've spent 15+ years living in California, Texas and Nevada, but I'm culturally more Hawaiian with a queer California-kid sensibility.

I'm just retiring and finally receiving Social Security income, enough to support myself in the PI comfortably, so after my wonderful visits, I've decided to move there.  I have lots to figure out, including looking for my father's family (parents never married, havent seen my Filipino father since I was in the 1st grade when he returned to the PI), figuring out longterm passport/visa options, perhaps citizenship through blood possiblities, long term living arrangements, and a lot of serious in-country travel through the islands. 

I just took a 6-month condo rental, but until I actually take posession, I'm still checking out other options. (My interactions with property rental agents/real estate sales people has been an upside-down roller coaster ride with blinders on).

While it is pretty to look at, I don't like the sterile aspect of the BGC life (I think old culture, jeepneys, old-style lechon and not-so-pretty people convey a city's real identity), love farmers markets, the working class folk, and opportunities to learn. I grew up in Hawaii so seeing/playing in pretty beaches are nice but not a real goal of mine). BTW would love pointers on learning Tagalog.

Any help would be welcome.

Aloha,

Roland

Welcome to the forum Roland, enjoy.

There is plenty of info available on this site at most levels and one simply needs to search, any questions ask away and I'm sure many will point you in the right direction with their thoughts and opinions.

Good luck with the move and hope you find what you are looking for.

Cheers, Steve.

Heading from angeles to puerto galera on Feb 22 , Samba beach. , will enjoy meeting people there so if you're around or you want to head out there chat me back

@AlohaGuy

welcome to the Philippines. Regarding long term stay, since you have a pension/social security, getting a visa from the Philippine Retirement Authority like a SRRV should be the best option, since you would not have to pay fees every time you leave the Philippines.

Hi I'm Allen I'm from United States I live in Cocoa Beach Florida when I'm in the states I'm here on vacation for a few months looking forward to meeting like-minded individuals would love to get some local knowledge and share my knowledge as well

Welcome to our forum and the country, Allen.

You say, "I live in Cocoa Beach Florida when I'm in the states, I'm here on vacation.." So, It must seem just like home, in some ways.

In other ways, not. 😎

Hello Harry_Brook,

Welcome to º£½ÇÂÒÂ× ðŸ˜€

We would love to learn more about you!

What brings you to this forum? Feel free to ask any questions you may have.

Cheers,

Cheryl

º£½ÇÂÒÂ× team

Hello all,

I married my wife in 2009 and we have a home and 2 agricultural farms in the Tagum City area. We have 2 boys and I drive commercially (CDL) as well.

Life in USA has come to a plateau it seams economically and so we have made the decision to come full time to the Mindinao Region. I found you all through chat gpt of all places by asking where I can find like minded people that have moved there families to the Philippines 🇵🇭.

So I’m here just to read and see what has changed since 2020 and wish all the very best.

Welcome to the forum Eanh58.

Plenty to sift through on this site, Can't help you with Mindanao as we live on Luzon. The changes I see are things are getting more expensive but that's a global issue.

Good luck with your move.

Cheers, Steve.

Greetings,

I will be moving next January as a widower. I have friends in Sto Tomas Davao del Norte so just down the road from you in Tagum. I'm a Brit retiring.

Best regards

T.