Brother, you just saved me $25000, for real. Dating a girl from Bohol province almost 2 years , we wanted to build small house on her mom’s property. Family has been there for 30 years so started small steps, only $1000 US but now stopped. Turns out her family does NOT own the land OMG ! Mark you saved my ass, I’m gonna RENT! Not sure if I can hack the PH full time but have my house here in NY. Honestly you are one of the smartest guys I know when idiots send you nasty comments but your advice is excellent. Thanks buddy..
😮 You dodged a bullet bro. I've considered buying a condo there to rent out but I've since reconsidered because of this video. Instead, I'll likely just use the money to remodel my current home.
The problem is a lot of vloggers keep feeding this narrative if nirvana. Phil’s is great but like anyplace you need to keep your brain in tact, there are numerous issues that never get reported so always keep control of your financial situation.
Glad you dodged that bullet. By the way NYC is a $%& and I hope you live outside of NYC. New York has nothing to offer anymore, crime out of control, taxes outragoius, cost of living outragious, woke policies destroying the city. The welcome immigrants and then kick them out LOL. Dude theres a 100 places Id rather live than NY.
Don't get married. Don't cohabitate. Don't impregnate. Don't let feelings control you. Don't spend more than the very bare minimum. Protect yourself at all times. And, have a bloody good time! But, have purpose, find some hobbies and get some activities going so you don't lose yourself. Cheers🍻
@@boyscout-p3u Those 6 lines represent self preservation in a world where society and laws are against men in the real world. I don't know what world you're living in or what video game you're playing. You can be the chum in the shark infested water. It's your life to live as you see fit. Some of us rather read about simp' statistic and drama instead of living it. Have a fun ride.
@@VENEMPASTOR you can use those 6 lines to preserve yourself if you dont have a brain. but if you have a brain you can still enjoy getting married, cohabitate and children if you sign a prenup with the girl
Got this advice from a Filipino lawyer. 1. Before you enter into a serious relationship (living together or marriage) have the Filipina sign a prenup. Without a prenup, the Filipina could get 50% of the assets, property, and money you held BEFORE the marriage in case of death or divorce. A prenup would also specify that there would be a 50-50 split of assets acquired during the marriage. 2. Before you buy property, Form a corporation (60-40) in the Philippines with your wife/partner. Then you buy property in the name of the corporation. That is a way of having both names on the property title. Great protection for the foreigner.
Seems like you still losing min. 60% then not a good deal. Either lease/rent the land on which you want to build a house say next 100 years or don't buy at all, stick with rent
Can't see how a Filipina can find all of your accounts if you don't share said accounts with her if they are in foreign banks. And in most cases guys here are living month to month getting SS and/or pensions that pay into foreign bank accounts.
@@thomaschiI'm doing all 3... My wife was given land by her father when we got married... We have a prenuptial agreement in place... That excludes my 401k, and pension, home and all premarital assets, plus any future contributions to the home and 401k... When I sell my home in about 10 years to retire there, I'll have her sign a 99 year lease to me on the property she owns, and build a home at half the value of my home here. That way even if it hits the fan, I still have my home to live in... And if need be I can rent it out, and live someplace else... If you think I'm being horrible realize she inherits everything when I die, 401k, survival spouse pension, social security, and home and property, my life insurance goes to my kids in a trust...
You are all missing the issue. When the relationship is over the owner, or the majority percentage, refuses to sell. The foreigner cannot legally force a sale, and does not own it. That is the issue.
I rent a nice brand new 2 bed townhouse for $150 a month in Mindanao. Doing the math, if I had $86000 and spent it on rent, I could live here for 47 years. I will most definitely be in LaLa land by then!
me too.. why i buy a cow..if i need only milk.. to late for me.. now i have a cow..and baby cow..and 1,4 hectar land on the cow name.. im not a good farmer..(spend only 20.000€ you are not alone..i still learn..work in progress..
Have you ever been FOOLED? so unlucky.. anywhere in this world almost people will get mad and aggreviated.. ONE WORD advice YOU GOTTA BE SMARTER IN THE END OF YOUR NOSE EXPAT.. do not buy property because its either you FLIP the world you”FOREIGNERS can NEVER OWN A LAND unless you RENT. Settled down with the right person , think with your brain and not with your “D***K”😂😂💪 alot of foreigners done the wrong decision so don’t be a VICTIM. Anywhere in this WORLD has a bunch of scammers. Be mindful.. that’s the reason why foreigners only go there for VACATION not a country of HOME FOR THE AGED.. im sure there are manu ex-pats living in the asian country that will dis agree with you. If you MADE A MISTAKE don’t put it on social media. Coz no matter what people will JUDGE YOU.🙏💪
How many of us can read and write Tagalog, Thai, Khmer or the language of whichever country we are retiring in? We can't, and we should accept it, and if we cannot acquire reading and writing the language, then we should not acquire property either. I have lived in Thailand for 27 of the last 37 years. I have "had" 13 houses and condos through my gf and companies. I buy at auctions,and take houses back on loans at 15%. I have done well out of it, but I moved here whenI was 24 yrears old. And, I would tell everyone that they will have a better ROI from a house in the west which is rented out, from their sotcks or anything else in the USA, than from buying property in Thailand or the Philippines. Rent out here is cheap, and property prices appreciate very slowly. Plus, you can move on a whim. I have had the same accountant for 34 years and the same lawyer for a decade, as the prior lawyer passed away. RENT RENT RENT RENT !!
A foreigner needs to familiarize himself with Article 1 Sections 91,92 and 93 of the Family Code as it relates to property and assets at the time of marriage. After reading these sections you will understand why you must have a prenup if you intend to marry. Section 91 states: Thus the Code specifies that “Unless otherwise provided in this Chapter or in the marriage settlements, the community property shall consist of all the property owned by the spouses at the time of the celebration of the marriage or acquired thereafter.” Article 91. Certain specified items are excluded from the default regime of community property but the burden is on the party asserting that an item is excluded to prove that such is the case. (Articles 92 and 93). Yes you just read what you would not think which is unless you have a prenup a Filipina is entitled to one half of everything you own at the time you marry unless you use sections 92 and 93 with a prenup. That means she is entitled to one half of any property owned, one half of any homes or rental properties, one half of all your savings and retirement accounts and one half of anything else you own. You are screwed if you intend to give these items to prior kids as she now has one half. This is if you marry in the Philippines which is worse than the USA. If you marry without a prenup you are a moron unless you have nothing. Please don't marry absent a prenup. Her family will hire an attorney and try to get it all. Yes, you will have to pay for her attorney during a divorce. Heads up. You must let her get her own attorney representing her during the prenup process. You can't know him or have anything to do with her attorney. You can give her the money to find her own attorney. Make sure that use use an excellent Filipino Family Law attorney who has done hundreds of valid prenups. Make him show you his case results when any of his prenups were litigated.
Plot twist: One "Elopes" with his bride, and technically no so-called "celebration" ever took place! "Celebration" is _not_ tightly defined. The groom can do a Family Guy and secretly take a bunch of laxitives and purging vomit inducing medicine on the day after the courthouse Elope, then claim it wasn't celebratory at all. It was 'pure hell.' Go to a clinic and get it on record that day, "food poisining." Stranger legal loopholes have happened! 😀
@@markberger5739 It does for foreigners and their spouse. In the Philippines Family Code it is called the Foreigners Divorce Exception. You can't get a divorce from a Filipina in the Philippines but you can in your country or another country that allows divorce. The Philippines government will recognize the divorce when filed with the Bureau of Records allowing both yo and the Filipina to marry in the Philippines again.
@@RCFSULAW I doubt that it would be a smooth process, also please note that even a long estranged ph citizen cannot get a divorce - maybe an annulment - long uncertain & expensive process & until that is sorted the laws & penalties of adultery apply - read long jail time!
@@markberger5739 Read the Philippines law. It is just like me going into my State's court system and filing for divorce. The Philippines government is not involved and does not know about it until the Bureau of records receives a sealed copy of the Judges Order in the Dissolution of Marriage. For the Filipina the Regional Trial Court must approve the divorce by checking the documents but does so in accordance with Philippines law. Before responding just Google Philippines Foreigner Divorce Exception. As a lawyer I have read the entire family code and in this case the case law associated with the applicable section of the family code. It is not rocket science.
Rental agreements in PH are VERY different from US. I know from my own time in PH if you rent a place, Its as if ALL problems are yours. If anything goes wrong its up to you to fix from what my rental agreement was in Dumaguete
You are referring to the maintenance clause. Actually this can be negotiated. Ive done the lease contracts for alot of expats coming into the PI for foreign companies and we always negotiated this clause. For example, you can put the clause to say the tenant pays for the first 3 maintenance items up to a maximum 5,000p total and anything after that is landlord responsibility. Or you can word it in other ways as well. The maintenance clause should also state that anything to do with the walls, pipes, electric, etc etc is landlord responsibility. If the LL does not want to negotiate this clause, find another property. Ive done thousands of leases in the past.
No rental agreement can make the Tennant responsible for fixed/attached items on the property, no matter what the agreement says. That would be in violation of Philippines rental laws. I had a water heater stop working, and the landlord said, "I delivered in working order, you pay to fix it." They soon changed their tone soon as I supplied them with a page printed from the law. They tried to say i waived my Tennant right signing the agreement. I said fine, i will file a small claims and complaint with DTI. They fixed the water heater in a day.
What I know is I will never buy a condo, house, or lease. What I do have in the Philippines is a small house built for my mother in law. After she pasted on and family wanted to sell it a split the money. We found out that my mother in law had put the house and lot in my wife's name. Smart women! Plus a great mother in law. A few years ago the house was destroyed in a typhoon. The whole village was wiped of the face of the map. But we had it rebuilt as an old brother in law and old sister in law live there and not with us. 😄 Like I told my wife if family moves in then I will move out. We are both old and gray now plus retired. Your advice in this video seem good to me. I also seen and heard my of the problems you talk about. Like my granny said " learn from other peoples mistakes ". I first visited Philippines Olongapo city, 1970. At first 😳 and then 🥳🥳🥳🥳. Oh ya.
It’s 60/40 and the Filipina and Filipino own the 60 percent. And she can kick the guy out. The family moves in theres nothing the foreigner can do about it. That’s the way it is. And there’s nothing can be done about it.
Have her sign a 99 year lease to her partner, or husband... Problem solved ... It what I'm having my wife do when I build a nice house on the land she received from her father on our marriage... When I'm dead I really don't care what she does with the house and property...
22k views, that's good, man! The message is spreading along with other UA-camrs covering these topics. I've witnessed so many failed projects there, not just for foreigners but also for locals.
I very much appreciate your videos, Mark. I was in the Philippines (Dumaguete to be precise) for the month of January, 2024. And I blew it. I mean I messed up bad. I got sunstroke my first full day there and as a result I was afraid to do anything fearing what the next disaster would be. Now I'm thinking of returning. For three reasons: English is spoken by virtually everyone (I would settle for Spanish which I'm not quite as proficient in but can get by); The climate is good at least out of the typhoon zone; and above all else it is unbelievably inexpensive and affordable! I can get a one bedroom apartment for a tenth of what I pay here in Connecticut. And I can get a good, filling meal for less than two dollars U.S. that would cost me $15 to 20 here. If you're poor in America (as I am) you're screwed. And I'm sick of it. I'm sick of paying 60, 70 even 80 percent of my monthly income to greedy, blood-sucking, life-killing landlords. Enough of this. Can I buy you a beer or two my friend? Just let me know. PS I don't hold it against you Johnny Rebs. Before The War even started everyone, and i mean EVERYONE knew the south couldn't win. The north had vast superiority in everything: gun manufacturing, bullets, cloth manufacturing, railroad track, population. everything. Except one thing: cotton. You had more cotton and if the Brits, who wanted your cotton, had come into The War on your side our goose might have, as the saying goes, been cooked. If I don't go back to the Philippines I may move to Alabama. Rents are about a third of what they are here. Is it safe for a yank like me to walk around in Birmingham? We may soon find out...
The visa cancellation stamp got my attention! I'll NEVER get in an argument with a local again. Just walk(or run) away and enjoy the beauty of the PI! Don't want to lose that privilege of being there. Always insightful, intelligent & Entertaining you are. Salamat
Thanks brother that's some real 💯 talk your on point with it all . Very super informative. Before you get down with the get down no whats happening for real . Rent Rent Rent that's wups up .
$86,000 invested with just a 6% return is $5160 a year or $430 a month now! 430 for rent in the Philippine will get you some nice places to live and you keep your $86 I live in Makati part of the year and in Thailand a part of the year things change, people stop buying property not in your home country a fool and his money is lucky to get together in the first place.
@@aidaninspire8381 I stay in Jomtien my first 30 days plus two border runs, I have always found month to month places so far, headed back to Thailand in a couple of months.
More about condos in the Philippines.. The entire market is inflated, overpriced and not worth it. Every development has a large amount of Chinese investors desperate to get their money outside the purview of the Chinese government. These units are hardly ever occupied but they don’t care about staying in them because they’re just happy to keep some asset offshore that can’t be confiscated. I stay in Ortigas where I rent a ₱15K per month 1BR condo which would cost ₱6M to purchase. Do the math and that’s a terrible price to rent ratio, especially when the owners will only get ₱13K after dues. Almost 40 years just to break even.
I bot a condo, $75.000 USD, and I have been here 12 years. The rent receipts equal the purchase price. I am the only one on title., I bot it from DMCI so relatives could not come after me and the title is real. GF tried to get on title.. NO! I used it at the PH retirement center against the cost of my visa.. Not bad....
My advice, use common sense, if it sounds to good to be true.....well fill in the blanks.....me been travelling in PI and south east Asia for 28 years, i learned a few things...so to all you malibog guys out there and thinking that you are in love and you think she's also....good luck 😅....Come here in Philippines, you are gonna love it....Ingat/amping/ take care.....
Spot on. You think as I do. The 3-4 level lawyer monitoring plan is what intelligent people do when engaged in business in developing foreign countries. Subbed.
Let's start fresh. Whatever, if ever, I wrote something bad about you I take it back. Your videos are making sense and worth listening to. Your advice is on mark and a potential, very potential, life and money saver. Keep it up. Subscribing.
King Markus, I'm here in gensan checking out where I thought I may build a small house on my girlfriends dad's land. We were here for only 2 days in 2017, then we met in Cebu for a month in 2019, then another month in Cebu in 2023. Iv been here for a week now and I think her brothers are trying to smoke me out, cigs, fires all day. No house from me. Rent or stay home. You got it down.
My new hero!! I'm renting in Iloilo City, and occasionally glance at the Marketplace thinking about BUYING.....but always having second thoughts.......and seeing your video, brought me back to my senses. And to top it off....I was a RE Broker in the USA for 35 years (hahahaha).
Appreciate the heads up on the condo situation ✅ ill be considering steel buiilt from the ground up or be that happy renter since the lower cost provides flexibility 💯👍
Rent out your home back home, get a decent rental-management company (that does all the inspections, credit checks etc), and rent your home there, simples...
Good video. You don't sugarcoat things. I'm retiring to the Philippines in February and have been traveling there since 1990. There is so much dishonesty and unethical behavior in the Philippines. So many of us Americans and other Westerners have been ripped off over there.Thanks for drumming this into our heads.
Well married in the US,and she is a citizen..When we get there rent first 2 years,my call.She ever walks no Social security or Union pension when I kick off. Money is a motivating factor.
I start drawing on a state pension this year at age 55. I am single, no girlfriend, no kids, parents are both deceased and no siblings, I'm as free as a bird now. I feel the PI is calling me! I have never been over there, but the videos I have watched have been enticing! I was thinking about leasing my place here in the USA, which I own outright, while I make a one year venture over to the Island's (renting there, of course). That way if things go bad, I will have my place to come back to in the USA, after the lease here is up. If I ever decide to make the move, Baguio sounds like the place for me, I hate to sweat! With mean daily maximum temps in the 70's (F) and mean daily low's around 60 (F), that's about as good as I could hope for. I've lived in Charleston, SC, all of my life. The beaches and historic buildings here are a sight to see, but the heat and humidity in the summer will take your energy and breath away. I can only imagine that it would be even worse in the lowlands of PI. Thanks for taking the time to share this wisdom! Y'all Be Well! (Willie_Banger) P.S., "Snitches get stitches, or wind up in ditches," is the way I've always heard it told around here. This area is rough! 🤣
Brother, you’re absolutely correct. I’ve learned that from the mistakes of several friends. Now, they all say RENT! I’ve been living in/traveling to SE Asia for 18+ years & there definitely is a learning curve. Unfortunately, I think the majority of foreigners arriving in SE Asia are somewhat naive to the ways of the world & not properly prepared for their new environment.
BTW .....Thailand has been changing their visa laws to attract more retirees. One of the things they're proposing is allowing foreigners to buy home sites. Not big expanses of land but homes including the land in developments is what's being proposed.
You’re def right and if you want to get married don’t do it in the Philippines, lots of complications if a divorce occurs. Recently someone told me abt Portugal where you can buy a house and own it and the property. No complications like visas to live there according to people that lived there . They said you can come and go as you please .
Good presentation dude, I like the way you seperate 2 weeks of messing around for several years than moving there, 1000% different. On vacation it's wine, women and song and when you move back you cannot do that every weekend. Good stuff
i do have to say your not wrong about renting at all. one thing i will say no matter how you live or where you live one and only best thing you can do is get to know the local brangie to be yoru good friend he can help you out with lot of problems you may run into with the locals this is the best thing you can do. in any country.
I like your style, brother. D.C. here and soon to be in Thailand within the next couple of months. We'll have to meet up and grab some beers sometime when I get out that way. Spent the past 5 winters in Myrtle Beach and their HOA fees are on average now running about $800/mo. for Oceanfront/Oceanview condos.
Mark this was your best informative video ever. I have lived off and on in the Philippines since 2008. I have never thought of buying property but you gave me so much to think about I never did. Thank you.
The most common scam is the “we can buy a lot as an investment “. You will NEVER I repeat NEVER make money buying a lot. It will be in her name, it will only go DOWN in value. The only winner is the rich developer who bought farm land for 200 pesos a sqm then sell it to investors for 5000 a sqm. It will never appreciate as you already bought it at beyond what it will ever be worth.
And even renting can have drawbacks if you don’t read the lease from front to back before signing. Leaving can have some serious financial drawbacks like if your there for couple of years guess whose expected to repaint the house prior
Great news man, Thank you for the important info on buying and leasing in the Philippines, I was planing on just renting anyway cuz I don’t want to stay in one place to long… You Rock dude 🤘🤘
When I learned that my marriage has been a sham, and the last 12 years has just meant that im a fool and stupid. I started to question everything, even if the children where mine.
The earthquake hits condo. The elevator still runs kinda ok... on the 5 and 6th floor it moves sideways just a little and it suddenly drops once in a while.
when confronting landlords on apartments and you tell them you want to rent per month without signing a rental lease, i am thinking that this might limit your options on where to rent? I would think the landlord wants or will try to force you to sign a lease no matter what. what is your or your friends experience with landlords when you insist to only rent per month without a lease? coming in Sept to live as an expat.
Never had problems look for rents on FB groups. They know most foreigners pay on time and will pay for damages if any. So they do want you to live in their property and willing to go with no contract etc and even give discount because a single foreigner is much better tenant than local family who always make a disaster and never pay on time. You have a lot of advantage and bargain power. The only problems I ever had - land lady asked me to leave by end of month even though we had informal agreement for three months. I suspect she found a boyfriend and wanted to live there with him. So be prepared you might have to leave on short notice thus don't buy much stuff because you might have to leave it behind unless you move some where close. Also be prepared for...many apartments you rent wont have basic things like bedsheets, towels, kitchen utencils - they don't have these especially in the province so figure that out into rent budget. And yes they do return the deposit but it takes them 3-4weeks just figure out how they send it to you if you move another island. Never tell them you are leaving the country. PS: also don't.trust anyone. Be prepared on your move in date - they might tell you apartment not ready yet, some one else living there etc. So know where nearest hotel is for back up.
There's a saying "a fool and his money are soon parted". Nothing sums it up better than an idiot expat thinking it's a good idea to buy property in the Philippines. How many times do these expats have to be warned?
It's the same with China, where my wife is from. I, as a Norwegian, are not allowed to own a property and luckily our friends talked about this when I was down there to marry in 2003. I was actually thinking about investing in a property down there, but I am happy that I decided not to do that. That could have been a sticky situation today.
Hi mate, You're 100% correct about renting! Nowadays as an old and wise guy(took a while to get there) , I live by the added motto: "If it flies, floats or fucks, RENT IT!!! Greetings from Oz.
Aweee RUBBISH!!,...You black males know DR women are the most beautiful women on earth,...so it'll be worth giving all your hard earned cash to them and their country,...so go ahead, they're waiting for you,...and they DESERVE everything you got⚘️.
The best thing is to live in America and visit your Filipina in the Philippines. If you're going to marry her then use I-129F or I-130 and she can come live with you in the USA. Just don't run to those Fil/AM Associations and stay away from the Asian store.
There's a simple rule, unless you can be the full owner in your own name of a property, don't buy. If you have the money, buy in a country where you have full rights, then use the money to rent a place in countries where they don't let you be an owner. Also don't be an idiot and think relations last, most don't.
Never me. I have principles. Lived I'm China 7 years. and Dubai 2 years. And now Philippines 5 years. Never once fell in any traps. I hold the keys. I hold all the cash and everything every week is inventoried financially.
I have seen so many videos about getting scammed in the Philippines. They married a Filipina who had him buy real estate then leave him. Foreigners have no rights to real estate in the Philippines. Don't buy real estate there!
Bro my husband thye have property NIN the Philippines we have farm and three land that his buying also the house but still living in life with the blessing with GOD AND HAPPY FAMILY AND HAPPY KIDS and we live in Davao city bro
Brother, you just saved me $25000, for real. Dating a girl from Bohol province almost 2 years , we wanted to build small house on her mom’s property. Family has been there for 30 years so started small steps, only $1000 US but now stopped. Turns out her family does NOT own the land OMG ! Mark you saved my ass, I’m gonna RENT! Not sure if I can hack the PH full time but have my house here in NY. Honestly you are one of the smartest guys I know when idiots send you nasty comments but your advice is excellent. Thanks buddy..
😮 You dodged a bullet bro. I've considered buying a condo there to rent out but I've since reconsidered because of this video. Instead, I'll likely just use the money to remodel my current home.
The problem is a lot of vloggers keep feeding this narrative if nirvana. Phil’s is great but like anyplace you need to keep your brain in tact, there are numerous issues that never get reported so always keep control of your financial situation.
Remember …. Rent Rent Rent ‼️‼️‼️‼️🇨🇦
@@markc7274..Because when you talk about the issues your channel gets taken down (just like the Philippines Truth channel)
Glad you dodged that bullet. By the way NYC is a $%& and I hope you live outside of NYC. New York has nothing to offer anymore, crime out of control, taxes outragoius, cost of living outragious, woke policies destroying the city. The welcome immigrants and then kick them out LOL. Dude theres a 100 places Id rather live than NY.
Don't get married.
Don't cohabitate.
Don't impregnate.
Don't let feelings control you.
Don't spend more than the very bare minimum.
Protect yourself at all times.
And, have a bloody good time!
But,
have purpose, find some hobbies and get some activities going so you don't lose yourself.
Cheers🍻
I approve 😎👌
Don't fornicate at all. Don't get #metoo'd
with those 6 lines you just defined a fckboy
@@boyscout-p3u
Those 6 lines represent self preservation in a world where society and laws are against men in the real world.
I don't know what world you're living in or what video game you're playing.
You can be the chum in the shark infested water.
It's your life to live as you see fit.
Some of us rather read about simp' statistic and drama instead of living it.
Have a fun ride.
@@VENEMPASTOR you can use those 6 lines to preserve yourself if you dont have a brain. but if you have a brain you can still enjoy getting married, cohabitate and children if you sign a prenup with the girl
In the military we had a mandatory video we all had to watch about STDs...this should be mandatory viewing for anyone moving to PI!
Got this advice from a Filipino lawyer.
1. Before you enter into a serious relationship (living together or marriage) have the Filipina sign a prenup. Without a prenup, the Filipina could get 50% of the assets, property, and money you held BEFORE the marriage in case of death or divorce. A prenup would also specify that there would be a 50-50 split of assets acquired during the marriage.
2. Before you buy property, Form a corporation (60-40) in the Philippines with your wife/partner. Then you buy property in the name of the corporation. That is a way of having both names on the property title. Great protection for the foreigner.
in response to #2, legally your wife can take 60% share of the property, if something goes wrong.
Seems like you still losing min. 60% then not a good deal. Either lease/rent the land on which you want to build a house say next 100 years or don't buy at all, stick with rent
Can't see how a Filipina can find all of your accounts if you don't share said accounts with her if they are in foreign banks. And in most cases guys here are living month to month getting SS and/or pensions that pay into foreign bank accounts.
@@thomaschiI'm doing all 3... My wife was given land by her father when we got married... We have a prenuptial agreement in place... That excludes my 401k, and pension, home and all premarital assets, plus any future contributions to the home and 401k... When I sell my home in about 10 years to retire there, I'll have her sign a 99 year lease to me on the property she owns, and build a home at half the value of my home here. That way even if it hits the fan, I still have my home to live in... And if need be I can rent it out, and live someplace else... If you think I'm being horrible realize she inherits everything when I die, 401k, survival spouse pension, social security, and home and property, my life insurance goes to my kids in a trust...
You are all missing the issue. When the relationship is over the owner, or the majority percentage, refuses to sell. The foreigner cannot legally force a sale, and does not own it. That is the issue.
I rent a nice brand new 2 bed townhouse for $150 a month in Mindanao. Doing the math, if I had $86000 and spent it on rent, I could live here for 47 years. I will most definitely be in LaLa land by then!
Exactly I just don’t understand why people don’t get that smh
Umm ok, I can dunk a basketball too
That was my rent here in Angeles, now it's $650 because my wife destroyed our old apartment. Sold all the appliances. But she's back now 😅
you do realize that will increase in price right?
It cost me over $20,000.00 to learn. Rent house, rent a wife, is the best way in the Philippines.
me too.. why i buy a cow..if i need only milk.. to late for me.. now i have a cow..and baby cow..and 1,4 hectar land on the cow name.. im not a good farmer..(spend only 20.000€ you are not alone..i still learn..work in progress..
Lol
😂@@A.Mancuso
plus the rent a wife comes with free std
Have you ever been FOOLED? so unlucky.. anywhere in this world almost people will get mad and aggreviated.. ONE WORD advice YOU GOTTA BE SMARTER IN THE END OF YOUR NOSE EXPAT.. do not buy property because its either you FLIP the world you”FOREIGNERS can NEVER OWN A LAND unless you RENT. Settled down with the right person , think with your brain and not with your “D***K”😂😂💪 alot of foreigners done the wrong decision so don’t be a VICTIM. Anywhere in this WORLD has a bunch of scammers. Be mindful.. that’s the reason why foreigners only go there for VACATION not a country of HOME FOR THE AGED.. im sure there are manu ex-pats living in the asian country that will dis agree with you. If you MADE A MISTAKE don’t put it on social media. Coz no matter what people will JUDGE YOU.🙏💪
How many of us can read and write Tagalog, Thai, Khmer or the language of whichever country we are retiring in? We can't, and we should accept it, and if we cannot acquire reading and writing the language, then we should not acquire property either.
I have lived in Thailand for 27 of the last 37 years. I have "had" 13 houses and condos through my gf and companies. I buy at auctions,and take houses back on loans at 15%. I have done well out of it, but I moved here whenI was 24 yrears old. And, I would tell everyone that they will have a better ROI from a house in the west which is rented out, from their sotcks or anything else in the USA, than from buying property in Thailand or the Philippines. Rent out here is cheap, and property prices appreciate very slowly. Plus, you can move on a whim.
I have had the same accountant for 34 years and the same lawyer for a decade, as the prior lawyer passed away.
RENT RENT RENT RENT !!
A foreigner needs to familiarize himself with Article 1 Sections 91,92 and 93 of the Family Code as it relates to property and assets at the time of marriage. After reading these sections you will understand why you must have a prenup if you intend to marry. Section 91 states:
Thus the Code specifies that “Unless otherwise provided in this Chapter or in the marriage settlements, the community property shall consist of all the property owned by the spouses at the time of the celebration of the marriage or acquired thereafter.” Article 91. Certain specified items are excluded from the default regime of community property but the burden is on the party asserting that an item is excluded to prove that such is the case. (Articles 92 and 93).
Yes you just read what you would not think which is unless you have a prenup a Filipina is entitled to one half of everything you own at the time you marry unless you use sections 92 and 93 with a prenup. That means she is entitled to one half of any property owned, one half of any homes or rental properties, one half of all your savings and retirement accounts and one half of anything else you own. You are screwed if you intend to give these items to prior kids as she now has one half. This is if you marry in the Philippines which is worse than the USA. If you marry without a prenup you are a moron unless you have nothing. Please don't marry absent a prenup. Her family will hire an attorney and try to get it all. Yes, you will have to pay for her attorney during a divorce. Heads up. You must let her get her own attorney representing her during the prenup process. You can't know him or have anything to do with her attorney. You can give her the money to find her own attorney. Make sure that use use an excellent Filipino Family Law attorney who has done hundreds of valid prenups. Make him show you his case results when any of his prenups were litigated.
Plot twist: One "Elopes" with his bride, and technically no so-called "celebration" ever took place! "Celebration" is _not_ tightly defined. The groom can do a Family Guy and secretly take a bunch of laxitives and purging vomit inducing medicine on the day after the courthouse Elope, then claim it wasn't celebratory at all. It was 'pure hell.' Go to a clinic and get it on record that day, "food poisining." Stranger legal loopholes have happened! 😀
Divorce - Philippines does NOT have any ! - till death!
@@markberger5739 It does for foreigners and their spouse. In the Philippines Family Code it is called the Foreigners Divorce Exception. You can't get a divorce from a Filipina in the Philippines but you can in your country or another country that allows divorce. The Philippines government will recognize the divorce when filed with the Bureau of Records allowing both yo and the Filipina to marry in the Philippines again.
@@RCFSULAW I doubt that it would be a smooth process, also please note that even a long estranged ph citizen cannot get a divorce - maybe an annulment - long uncertain & expensive process & until that is sorted the laws & penalties of adultery apply - read long jail time!
@@markberger5739 Read the Philippines law. It is just like me going into my State's court system and filing for divorce. The Philippines government is not involved and does not know about it until the Bureau of records receives a sealed copy of the Judges Order in the Dissolution of Marriage. For the Filipina the Regional Trial Court must approve the divorce by checking the documents but does so in accordance with Philippines law. Before responding just Google Philippines Foreigner Divorce Exception. As a lawyer I have read the entire family code and in this case the case law associated with the applicable section of the family code. It is not rocket science.
Outstanding video King back on point. Thailand break was needed. Keep up the good work.
Rental agreements in PH are VERY different from US. I know from my own time in PH if you rent a place, Its as if ALL problems are yours. If anything goes wrong its up to you to fix from what my rental agreement was in Dumaguete
You are referring to the maintenance clause. Actually this can be negotiated. Ive done the lease contracts for alot of expats coming into the PI for foreign companies and we always negotiated this clause. For example, you can put the clause to say the tenant pays for the first 3 maintenance items up to a maximum 5,000p total and anything after that is landlord responsibility. Or you can word it in other ways as well. The maintenance clause should also state that anything to do with the walls, pipes, electric, etc etc is landlord responsibility. If the LL does not want to negotiate this clause, find another property. Ive done thousands of leases in the past.
No rental agreement can make the Tennant responsible for fixed/attached items on the property, no matter what the agreement says. That would be in violation of Philippines rental laws. I had a water heater stop working, and the landlord said, "I delivered in working order, you pay to fix it." They soon changed their tone soon as I supplied them with a page printed from the law. They tried to say i waived my Tennant right signing the agreement. I said fine, i will file a small claims and complaint with DTI. They fixed the water heater in a day.
What I know is I will never buy a condo, house, or lease. What I do have in the Philippines is a small house built for my mother in law. After she pasted on and family wanted to sell it a split the money. We found out that my mother in law had put the house and lot in my wife's name. Smart women! Plus a great mother in law. A few years ago the house was destroyed in a typhoon. The whole village was wiped of the face of the map. But we had it rebuilt as an old brother in law and old sister in law live there and not with us. 😄 Like I told my wife if family moves in then I will move out. We are both old and gray now plus retired. Your advice in this video seem good to me. I also seen and heard my of the problems you talk about. Like my granny said " learn from other peoples mistakes ". I first visited Philippines Olongapo city, 1970. At first 😳 and then 🥳🥳🥳🥳. Oh ya.
are you still in phil,,bob? how did you survive
In your last video, you noticed you were not speaking clearly, and then you realized you were sober😂😂😂😂I can relate 😅
Thank you Brother. This should be mandatory viewing for all. You are saving lives here with this advice.
It’s 60/40 and the Filipina and Filipino own the 60 percent. And she can kick the guy out. The family moves in theres nothing the foreigner can do about it. That’s the way it is. And there’s nothing can be done about it.
Have her sign a 99 year lease to her partner, or husband... Problem solved ... It what I'm having my wife do when I build a nice house on the land she received from her father on our marriage... When I'm dead I really don't care what she does with the house and property...
@@jamesloerzel4377lease of land not legal if she’s your wife. If you’re unmarried, it’s perfectly legal for a 25 year lease.
This video should be mandatory for anyone planing to move to southeast Asia. Great information.
22k views, that's good, man! The message is spreading along with other UA-camrs covering these topics.
I've witnessed so many failed projects there, not just for foreigners but also for locals.
I very much appreciate your videos, Mark. I was in the Philippines (Dumaguete to be precise) for the month of January, 2024. And I blew it. I mean I messed up bad. I got sunstroke my first full day there and as a result I was afraid to do anything fearing what the next disaster would be.
Now I'm thinking of returning. For three reasons: English is spoken by virtually everyone (I would settle for Spanish which I'm not quite as proficient in but can get by); The climate is good at least out of the typhoon zone; and above all else it is unbelievably inexpensive and affordable! I can get a one bedroom apartment for a tenth of what I pay here in Connecticut. And I can get a good, filling meal for less than two dollars U.S. that would cost me $15 to 20 here.
If you're poor in America (as I am) you're screwed. And I'm sick of it. I'm sick of paying 60, 70 even 80 percent of my monthly income to greedy, blood-sucking, life-killing landlords. Enough of this.
Can I buy you a beer or two my friend? Just let me know.
PS I don't hold it against you Johnny Rebs. Before The War even started everyone, and i mean EVERYONE knew the south couldn't win. The north had vast superiority in everything: gun manufacturing, bullets, cloth manufacturing, railroad track, population. everything. Except one thing: cotton. You had more cotton and if the Brits, who wanted your cotton, had come into The War on your side our goose might have, as the saying goes, been cooked.
If I don't go back to the Philippines I may move to Alabama. Rents are about a third of what they are here. Is it safe for a yank like me to walk around in Birmingham? We may soon find out...
good decision, just stay in your cage and be happy.. 😊
Solid advice bottom line..
Who needs that concrete when you can buy a 2 bedroom luxury tent.
people that don't want their house broken into with a razor blade
you maybe
The visa cancellation stamp got my attention!
I'll NEVER get in an argument with a local again.
Just walk(or run) away and enjoy the beauty of the PI!
Don't want to lose that privilege of being there.
Always insightful, intelligent & Entertaining you are.
Salamat
These people think they're entitled to foreigner's money and how dare you not willing to give it to them.
One my favorite. Keep up the being real man. Love your content ❤
Great Street Smart Education!
"You Can't Fool The One Who Wants To Fool You."
Thanks brother that's some real 💯 talk your on point with it all . Very super informative. Before you get down with the get down no whats happening for real . Rent Rent Rent that's wups up .
Great Video! I am so happy to see you doing these experience videos again
Great insight as always.
Great video and great advice
Excellent video, marco's
Thanks for the advice Mark, You just helped me Save a Lot of Money
$86,000 invested with just a 6% return is $5160 a year or $430 a month now! 430 for rent in the Philippine will get you some nice places to live and you keep your $86 I live in Makati part of the year and in Thailand a part of the year things change, people stop buying property not in your home country a fool and his money is lucky to get together in the first place.
how long do you go to thailand? do you get a short term monthly lease? just curious how best to do it. regards , good idea
@@aidaninspire8381 I stay in Jomtien my first 30 days plus two border runs, I have always found month to month places so far, headed back to Thailand in a couple of months.
More about condos in the Philippines.. The entire market is inflated, overpriced and not worth it. Every development has a large amount of Chinese investors desperate to get their money outside the purview of the Chinese government. These units are hardly ever occupied but they don’t care about staying in them because they’re just happy to keep some asset offshore that can’t be confiscated.
I stay in Ortigas where I rent a ₱15K per month 1BR condo which would cost ₱6M to purchase. Do the math and that’s a terrible price to rent ratio, especially when the owners will only get ₱13K after dues. Almost 40 years just to break even.
Excellent video!!! Yes, rent is the way to go!! I have heard horror stories, sadly.
You made some good points thanks 😊
Howdy Folks,From the home of the Lodge 3.2 Combo Cooker, South Pittsburg, Tennessee.
I bot a condo, $75.000 USD, and I have been here 12 years. The rent receipts equal the purchase price. I am the only one on title., I bot it from DMCI so relatives could not come after me and the title is real. GF tried to get on title.. NO! I used it at the PH retirement center against the cost of my visa.. Not bad....
You don't buy near relatives.....
The sale of a condo is not easy. almost impossible.....
My advice, use common sense, if it sounds to good to be true.....well fill in the blanks.....me been travelling in PI and south east Asia for 28 years, i learned a few things...so to all you malibog guys out there and thinking that you are in love and you think she's also....good luck 😅....Come here in Philippines, you are gonna love it....Ingat/amping/ take care.....
Very good live stream Mark
Spot on. You think as I do. The 3-4 level lawyer monitoring plan is what intelligent people do when engaged in business in developing foreign countries. Subbed.
Outstanding video and very informative advice from someone WHO Knows.
Just saw your channel and subscribed. Great advice. I'm almost 4/4 through this video.
Rent are the best ,not marriage,so you are🎉🎉 Your Master,that's around this Planet 🌹
Let's start fresh. Whatever, if ever, I wrote something bad about you I take it back. Your videos are making sense and worth listening to. Your advice is on mark and a potential, very potential, life and money saver. Keep it up. Subscribing.
King Markus, I'm here in gensan checking out where I thought I may build a small house on my girlfriends dad's land. We were here for only 2 days in 2017, then we met in Cebu for a month in 2019, then another month in Cebu in 2023. Iv been here for a week now and I think her brothers are trying to smoke me out, cigs, fires all day. No house from me. Rent or stay home. You got it down.
My new hero!! I'm renting in Iloilo City, and occasionally glance at the Marketplace thinking about BUYING.....but always having second thoughts.......and seeing your video, brought me back to my senses. And to top it off....I was a RE Broker in the USA for 35 years (hahahaha).
Appreciate the heads up on the condo situation ✅ ill be considering steel buiilt from the ground up or be that happy renter since the lower cost provides flexibility 💯👍
Rent out your home back home, get a decent rental-management company (that does all the inspections, credit checks etc), and rent your home there, simples...
Good video. You don't sugarcoat things. I'm retiring to the Philippines in February and have been traveling there since 1990. There is so much dishonesty and unethical behavior in the Philippines. So many of us Americans and other Westerners have been ripped off over there.Thanks for drumming this into our heads.
💯
There's a lot of rentals that landlords are having trouble renting. Renting allows you to walk away at any time
Well married in the US,and she is a citizen..When we get there rent first 2 years,my call.She ever walks no Social security or Union pension when I kick off. Money is a motivating factor.
I start drawing on a state pension this year at age 55. I am single, no girlfriend, no kids, parents are both deceased and no siblings, I'm as free as a bird now.
I feel the PI is calling me! I have never been over there, but the videos I have watched have been enticing!
I was thinking about leasing my place here in the USA, which I own outright, while I make a one year venture over to the Island's (renting there, of course). That way if things go bad, I will have my place to come back to in the USA, after the lease here is up.
If I ever decide to make the move, Baguio sounds like the place for me, I hate to sweat! With mean daily maximum temps in the 70's (F) and mean daily low's around 60 (F), that's about as good as I could hope for. I've lived in Charleston, SC, all of my life. The beaches and historic buildings here are a sight to see, but the heat and humidity in the summer will take your energy and breath away. I can only imagine that it would be even worse in the lowlands of PI.
Thanks for taking the time to share this wisdom!
Y'all Be Well! (Willie_Banger)
P.S., "Snitches get stitches, or wind up in ditches," is the way I've always heard it told around here. This area is rough! 🤣
You should definitely visit the PI to get a feel for which city suits you best. Congrats on the freedom! Keep us posted!
Thanks and Can Do!@@I_Need_Travel-mw3st
Your best video to date brother, thank you for sharing,
U R the man KING!!
Hello Marcus, thanks for the headsup.
Great video
I agree with this message 100% been in Thailand for 10 years Rent Rent Rent !!!!!
EPIC Episode! this is Experience, Take Note people
I totally agree with you 😊
Dam. this brother is down to earth with some excellent advice..Thanks man..good luck to you from Philly...
Brother, you’re absolutely correct. I’ve learned that from the mistakes of several friends. Now, they all say RENT! I’ve been living in/traveling to SE Asia for 18+ years & there definitely is a learning curve. Unfortunately, I think the majority of foreigners arriving in SE Asia are somewhat naive to the ways of the world & not properly prepared for their new environment.
Thank you for the video. I would say to all retires that "you can be a target moving anywhere" and trust no one.
BTW .....Thailand has been changing their visa laws to attract more retirees. One of the things they're proposing is allowing foreigners to buy home sites. Not big expanses of land but homes including the land in developments is what's being proposed.
Great advice brother 👍🏼
You’re def right and if you want to get married don’t do it in the Philippines, lots of complications if a divorce occurs. Recently someone told me abt Portugal where you can buy a house and own it and the property. No complications like visas to live there according to people that lived there . They said you can come and go as you please .
Good presentation dude, I like the way you seperate 2 weeks of messing around for several years than moving there, 1000% different. On vacation it's wine, women and song and when you move back you cannot do that every weekend. Good stuff
i do have to say your not wrong about renting at all. one thing i will say no matter how you live or where you live one and only best thing you can do is get to know the local brangie to be yoru good friend he can help you out with lot of problems you may run into with the locals this is the best thing you can do. in any country.
What is a local brangie,? Please cause i'm french speaker 😋
Great on point advice, travel travel travel before your settle on where to live.
Youre exactly right..After 10 years..its been a real education
I'm doing my due diligence on a move to the Phillipines and I'm learning a lot. Your videos are very helpful.
so wise talk. thanks for all the insides it cleaned my head already :) best regards
Thats why i like that my wife is older than me and has her own house and land in Cebu already .
I like your style, brother. D.C. here and soon to be in Thailand within the next couple of months. We'll have to meet up and grab some beers sometime when I get out that way. Spent the past 5 winters in Myrtle Beach and their HOA fees are on average now running about $800/mo. for Oceanfront/Oceanview condos.
Mark this was your best informative video ever. I have lived off and on in the Philippines since 2008. I have never thought of buying property but you gave me so much to think about I never did. Thank you.
"Never own more than what you can put into 2 suitcases". LOL! That's a good one.
"Ask for money, and get advice
Ask for advice, get money twice"
Philosopher: Pitbull ~ 1:23:25
The most common scam is the “we can buy a lot as an investment “. You will NEVER I repeat NEVER make money buying a lot. It will be in her name, it will only go DOWN in value. The only winner is the rich developer who bought farm land for 200 pesos a sqm then sell it to investors for 5000 a sqm. It will never appreciate as you already bought it at beyond what it will ever be worth.
And even renting can have drawbacks if you don’t read the lease from front to back before signing. Leaving can have some serious financial drawbacks like if your there for couple of years guess whose expected to repaint the house prior
Great news man, Thank you for the important info on buying and leasing in the Philippines, I was planing on just renting anyway cuz I don’t want to stay in one place to long… You Rock dude 🤘🤘
When I learned that my marriage has been a sham, and the last 12 years has just meant that im a fool and stupid. I started to question everything, even if the children where mine.
Was this a Filipino wife or an American wife?
The earthquake hits condo. The elevator still runs kinda ok... on the 5 and 6th floor it moves sideways just a little and it suddenly drops once in a while.
Great advice.
when confronting landlords on apartments and you tell them you want to rent per month without signing a rental lease, i am thinking that this might limit your options on where to rent? I would think the landlord wants or will try to force you to sign a lease no matter what. what is your or your friends experience with landlords when you insist to only rent per month without a lease? coming in Sept to live as an expat.
Never had problems look for rents on FB groups. They know most foreigners pay on time and will pay for damages if any. So they do want you to live in their property and willing to go with no contract etc and even give discount because a single foreigner is much better tenant than local family who always make a disaster and never pay on time. You have a lot of advantage and bargain power.
The only problems I ever had - land lady asked me to leave by end of month even though we had informal agreement for three months. I suspect she found a boyfriend and wanted to live there with him. So be prepared you might have to leave on short notice thus don't buy much stuff because you might have to leave it behind unless you move some where close.
Also be prepared for...many apartments you rent wont have basic things like bedsheets, towels, kitchen utencils - they don't have these especially in the province so figure that out into rent budget.
And yes they do return the deposit but it takes them 3-4weeks just figure out how they send it to you if you move another island. Never tell them you are leaving the country.
PS: also don't.trust anyone. Be prepared on your move in date - they might tell you apartment not ready yet, some one else living there etc. So know where nearest hotel is for back up.
There's a saying "a fool and his money are soon parted". Nothing sums it up better than an idiot expat thinking it's a good idea to buy property in the Philippines. How many times do these expats have to be warned?
Been in Philippines 17 years ... Don't buy, don't marry. Rent a residence and rent a gf/wife.
From Canada to Japan ,bank to bank only.However they will only deal with specific banks.Security always.
Entertaining talk. Picked up some great slang.
Great vid there sir Mark. You may have saved a lot of people's heartache and money. Sometimes common sense is hard to come by.
It's the same with China, where my wife is from. I, as a Norwegian, are not allowed to own a property and luckily our friends talked about this when I was down there to marry in 2003. I was actually thinking about investing in a property down there, but I am happy that I decided not to do that. That could have been a sticky situation today.
Hi mate,
You're 100% correct about renting! Nowadays as an old and wise guy(took a while to get there) , I live by the added motto:
"If it flies, floats or fucks, RENT IT!!!
Greetings from Oz.
This vid saved my ass i was going to do something simular in the DR
Aweee RUBBISH!!,...You black males know DR women are the most beautiful women on earth,...so it'll be worth giving all your hard earned cash to them and their country,...so go ahead, they're waiting for you,...and they DESERVE everything you got⚘️.
Rent Or end up living in a tent. The Problem with most ex-pats is they tend to think with the wrong Head.
“Teeth, hair, & eyeballs, all over the road.” One of the oldest sayings I remember as a kid.
The best thing is to live in America and visit your Filipina in the Philippines. If you're going to marry her then use I-129F or I-130 and she can come live with you in the USA. Just don't run to those Fil/AM Associations and stay away from the Asian store.
Nothing like advice given in a good ol'boy vernacular.
There's a simple rule, unless you can be the full owner in your own name of a property, don't buy. If you have the money, buy in a country where you have full rights, then use the money to rent a place in countries where they don't let you be an owner. Also don't be an idiot and think relations last, most don't.
Never me. I have principles. Lived I'm China 7 years. and Dubai 2 years. And now Philippines 5 years. Never once fell in any traps. I hold the keys. I hold all the cash and everything every week is inventoried financially.
I have seen so many videos about getting scammed in the Philippines. They married a Filipina who had him buy real estate then leave him. Foreigners have no rights to real estate in the Philippines. Don't buy real estate there!
Thanks for the advice. Honestly, the more I learn about real estate the less I want to buy property.
Bro my husband thye have property NIN the Philippines we have farm and three land that his buying also the house but still living in life with the blessing with GOD AND HAPPY FAMILY AND HAPPY KIDS and we live in Davao city bro
The rules in buying a condo in Thailand are you have to buy through a reputable agent in an area that when you decide to sell it will be desirable.
Thx. I've thought about doing the retirement visa thing whereby you have to put up $10,000 or so into a PI bank to get it! Wow, no money back!
Well said mate I been going to P I since 1984 love the place you’re advice is spot on 👍
And I say also 3 words to you: thank you, thank you, thank you!!!!!