How To Find Profitable Foreclosed Properties in the Philippines with 3 Easy Steps
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- Опубліковано 6 сер 2024
- If you plan to invest in foreclosed properties in the Philippines, then this video is for you! I'll show you how to find profitable foreclosed properties in the Philippines in just 3 easy steps.
After watching this video, you will have a reliable and objective way of checking if a property has room for profit if you're going to flip it (buy-renovate-sell), or if you're going to keep it as a rental. I will also share how you can get ready with financing the purchase (and mistakes to avoid) and how I did proper due diligence, and I'll explain using an actual foreclosed property I purchased as an example.
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Links to calculators mentioned in the video:
After Repair Value or ARV Calculator:
✅ www.foreclosurephilippines.co...
Gross Rental Yield Calculator:
✅ www.foreclosurephilippines.co...
Mortgage Calculator:
✅ www.foreclosurephilippines.co...
Subscribe to get a free copy of my Due Diligence Checklist:
✅ www.foreclosurephilippines.co...
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Timestamps for topics covered
00:00 Introduction on how to find properties with profit potential
00:31 Objective of this video
00:47 My first foreclosed property
01:15 Foreclosed property details and concerns
02:17 Step 1: What is your goal - flipping or rentals?
02:38 How to check if suitable for flipping
03:39 How to use After Repair Value or ARV calculator
04:14 Where I got data for lot prices
04:27 Cost to construct per sqm of floor area
04:55 Overview of the replacement cost approach
05:14 Estimated room for profit and my target
05:50 Initial checking for rentals: Gross Rental Yield
06:10 The 1% Rule (Rule of thumb for quick analysis)
06:57 How to use Gross Rental Yield Calculator
08:11 Step 2: Get your finances in order - Financial Literacy
09:20 Health care, insurance, emergency funds, bad debts, money to invest
11:08 How much property can you afford (downpayment/monthly amortization)?
12:28 How to use Mortgage Calculator to check if you can afford a property
13:32 Step 3: Do your Due Diligence (walkthrough)
16:01 What happened to my first foreclosed property purchase?
16:11 Buyer converted rent-to-own to bank financing
16:28 Bank appraisal was very high - happy buyer!
16:45 A win-win-win transaction!
17:13 Why we no longer recommend rent-to-own when selling properties
17:24 What happened next (more deals)
17:52 Recap and summary
19:03 What's next: The "Blue Print" for real estate investing in the Philippines
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Missed the first video? Here's a link to Video 1 (Don't make these mistakes when buying a house in the Philippines):
• Don't make these mista...
The next video is already available, here's a link to Video 3 (Real Estate Investing in the Philippines: The Whole Process (explained in 30 minutes!):
• Real Estate Investing ...
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! 👍
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 🙏
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!
Great video as always Sir Jay
Thank you M. A., really appreciate the feedback!
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
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.
Sir thank you for this video. May i ask how much was the cost for the repairs?
thanks sir
You're welcome Alberth!
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?
Ano po ang mas maganda when buying? Itatax pa rin po ba kapag installment?
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!
Hi Sir di po ba mahirap humanap ng trusted contructor for the repair?
tinitingnan din po ba ang credit worthiness po ng buyer ng bangko sir?
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!
gusto ko po
sana mg buy na forclosed na bahay sto.tomas batangas area
real estate, a real bubble already popping
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.