Hello Sir Jay! I haven't viewed all your previous videos, but I am browsing foreclosed properties on your website or from sent emails. On your next videos may you tackle the description of different institutions (like for example "with tax issue" as description). For a newbie like me literal lang ba yung descriptions nila, or it may mean something else? Kudos for this video pala as you shared and differentiate other investment/ asset classes from real estate investing! ❤❤❤
Hi Aaron thanks for the suggested topics to cover, I can tackle them in separate dedicated videos. Just to give you an idea, issues with taxes can mean one or several taxes were unpaid and has to be paid to the BIR. Anyway, will share more details in an upcoming video. Thanks again!
Wow, it is very detailed and informative... this answers my very long-time questions in my mind about foreclosed properties.... very interesting. This gives me the confidence to do this kind of business with your tutorial videos. Am now a subscriber. Thank you. More power 🙏
Very Informative and Substantive, as always. Sir Jay, may we also request for a video discussion regarding the pros and cons of buying a foreclosed property in a bank and pag-ibig? Which is more practical and less problematic? I noticed from all of your videos that you are more into bank foreclosed properties rather than pag ibig; I'm curious why?
Hi Din, thanks for the kind words! Yes, I can publish a separate video comparing Pag-IBIG acquired assets/foreclosed properties with bank foreclosed properties. Thanks for the suggestion, madalas ko ng sila kinocompare pag nagcoconduct ako ng training pero wala pa pala dito sa UA-cam. Will definitely tackle this, thanks again!
Great video, sir! Just wanted to confirm, did you opt for bank financing to acquire your first property? How did the agreement go when you sold it while it was still under a mortgage?
Hi Leovir, yes, bank financing siya through installment. For this particular bank, they sell their foreclosed properties through a contract-to-sell na 10 years to pay. Nag advanced full payment ako para malipat sa pangalan ko yung property para ma-approve yung housing loan nung tenant-buyer ko. Required kasi na nakapangalan sa seller ang property. Thanks for the question!
Sir how do you sell the property legally if you're not a real estate broker? Can i as a private individual buy (and flip) and sell without becoming a real estate broker or having to go through a broker?
Hi M. A., no need to be a licensed real estate broker if you will buy and sell the property you own. You only need to be a licensed broker to sell properties of other people. Thanks for the question!
You mentioned from the beginning you had a problem with this property that’s probabaly why there were no other bidders. What was it? Seems like a good deal to me.
Thanks for the question, I was just assuming there was a problem because there were no other bidders. Turns out it really was a good deal that other people missed. I guess this was newly listed and I was the first to finish my due diligence back then. :-)
If I were younger, still healthy, and had no hypertension, I would have stayed as long as I could in my IT job which I loved... but the stress was just too much (we were severely understaffed and underpaid). I'm just glad I had a choice, and in my case, I pulled the trigger due to health reasons.
you deserve more subs.. your video tutorial is simple and on point. even more than 15mins. no wasted time every seconds are informative.
Hi Christian, thank you so much for the awesome feedback, really appreciate it! 👍
Thank you so much..such a great video po..
@arfiltv You're welcome and thank you for the feedback, glad you liked it!
Hello Sir Jay! I haven't viewed all your previous videos, but I am browsing foreclosed properties on your website or from sent emails. On your next videos may you tackle the description of different institutions (like for example "with tax issue" as description). For a newbie like me literal lang ba yung descriptions nila, or it may mean something else? Kudos for this video pala as you shared and differentiate other investment/ asset classes from real estate investing! ❤❤❤
Hi Aaron thanks for the suggested topics to cover, I can tackle them in separate dedicated videos. Just to give you an idea, issues with taxes can mean one or several taxes were unpaid and has to be paid to the BIR. Anyway, will share more details in an upcoming video. Thanks again!
Jay Castillo - the " OG" / veteran on this topic, his blog got me interested in real estate decades ago
Wow, it is very detailed and informative... this answers my very long-time questions in my mind about foreclosed properties.... very interesting. This gives me the confidence to do this kind of business with your tutorial videos. Am now a subscriber. Thank you. More power 🙏
Thanks for the feedback, really appreciate it!
Very Informative and Substantive, as always. Sir Jay, may we also request for a video discussion regarding the pros and cons of buying a foreclosed property in a bank and pag-ibig? Which is more practical and less problematic? I noticed from all of your videos that you are more into bank foreclosed properties rather than pag ibig; I'm curious why?
Hi Din, thanks for the kind words! Yes, I can publish a separate video comparing Pag-IBIG acquired assets/foreclosed properties with bank foreclosed properties. Thanks for the suggestion, madalas ko ng sila kinocompare pag nagcoconduct ako ng training pero wala pa pala dito sa UA-cam. Will definitely tackle this, thanks again!
Great video as always Sir Jay
Thank you M. A., really appreciate the feedback!
Hi Sir Jay, How are you able to sell properties po if you are still paying mortgage? What are the best strategies around these?
Great video, sir! Just wanted to confirm, did you opt for bank financing to acquire your first property?
How did the agreement go when you sold it while it was still under a mortgage?
Hi Leovir, yes, bank financing siya through installment. For this particular bank, they sell their foreclosed properties through a contract-to-sell na 10 years to pay.
Nag advanced full payment ako para malipat sa pangalan ko yung property para ma-approve yung housing loan nung tenant-buyer ko. Required kasi na nakapangalan sa seller ang property. Thanks for the question!
Sir how do you sell the property legally if you're not a real estate broker? Can i as a private individual buy (and flip) and sell without becoming a real estate broker or having to go through a broker?
Hi M. A., no need to be a licensed real estate broker if you will buy and sell the property you own. You only need to be a licensed broker to sell properties of other people. Thanks for the question!
Hi Mr. Jay. Thank you for a very informative video. Is it okay to buy a foreclosed property that is still occupied or sakit ba sya ng ulo?
You're welcome and thank you for watching! Pag occupied, iwas na lang. Tama po kayo, sakit sa ulo and hindi worth it.
Sir thank you for this video. May i ask how much was the cost for the repairs?
You're welcome and thanks for the question! The total cost was a little over Php130K.
You mentioned from the beginning you had a problem with this property that’s probabaly why there were no other bidders. What was it? Seems like a good deal to me.
Thanks for the question, I was just assuming there was a problem because there were no other bidders. Turns out it really was a good deal that other people missed. I guess this was newly listed and I was the first to finish my due diligence back then. :-)
Ano po ang mas maganda when buying? Itatax pa rin po ba kapag installment?
Yes po, same taxes apply, may dagdag po kung mortgage loan kasi may Documentary Stamps Tax pati yung loan mismo.
Hi Sir di po ba mahirap humanap ng trusted contructor for the repair?
Yes, napakahirap. :-(
thanks sir
You're welcome Alberth!
tinitingnan din po ba ang credit worthiness po ng buyer ng bangko sir?
Yes po, especially kung loan/installment payment.
gusto ko po
sana mg buy na forclosed na bahay sto.tomas batangas area
Eto po yung nasa database ko na nasa Santo Tomas, Batangas: www.foreclosurephilippines.com/location/santo-tomas/
real estate, a real bubble already popping
Depends on the location. I would agree for those areas where POGO's caused a property boom... tsk tsk.
I still wouldnt quit job....your silly to think like that. Its cash flow from an IT job or ur just smart and lazy.....LOL.
If I were younger, still healthy, and had no hypertension, I would have stayed as long as I could in my IT job which I loved... but the stress was just too much (we were severely understaffed and underpaid). I'm just glad I had a choice, and in my case, I pulled the trigger due to health reasons.