Comments on: Robert Kiyosaki’s Introduction Of His Six-Steps On How To Invest In Real Estate http://www.foreclosurephilippines.com/2009/03/robert-kiyosakis-introduction-of-his.html Your trusted resource for foreclosure investing in the Philippines with listings of foreclosed properties, real estate auctions, real estate investing tips, and more! Wed, 08 Feb 2012 16:17:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Lito Panis http://www.foreclosurephilippines.com/2009/03/robert-kiyosakis-introduction-of-his.html#comment-1046 Lito Panis Sat, 20 Mar 2010 13:50:15 +0000 http://localhost/wordpress/index.php/2009/03/robert-kiyosakis-introduction-of-his-six-steps-on-how-to-invest-in-real-estate.html#comment-1046 Jay, Thanks for your immediate reply, I bought the two books of Larry Gamboa,and I'm learning a lot. I am going back to Kuwait to be an employee again :( this month but I want to be an investor in real estate. My case: we have a family property, a 950 sq. mtr lot in Amparo Subdivision,still in my father's name, both my parents are deceased, the property now belongs to 6 siblings, How can I afford to acquire this asset, assuming my bro and sis waived their right for the property, in exchange for specific amt of cash ,of course, please advise me on this matter.Can I apply this for a loan in Pagibig? I plan to make this my first real estate investment and begin my journey. Thanks a lot. Lito Panis Jay,

Thanks for your immediate reply, I bought the two books of Larry Gamboa,and I’m learning a lot.
I am going back to Kuwait to be an employee again :( this month but I want to be an investor in real estate. My case: we have a family property, a 950 sq. mtr lot in Amparo Subdivision,still in my father’s name, both my parents are deceased, the property now belongs to 6 siblings, How can I afford to acquire this asset, assuming my bro and sis waived their right for the property, in exchange for specific amt of cash ,of course, please advise me on this matter.Can I apply this for a loan in Pagibig? I plan to make this my first real estate investment and begin my journey. Thanks a lot.

Lito Panis

]]> By: Jay Castillo http://www.foreclosurephilippines.com/2009/03/robert-kiyosakis-introduction-of-his.html#comment-1045 Jay Castillo Thu, 18 Mar 2010 16:38:41 +0000 http://localhost/wordpress/index.php/2009/03/robert-kiyosakis-introduction-of-his-six-steps-on-how-to-invest-in-real-estate.html#comment-1045 Hi Lito, thank you so much for sharing here your journey and your goal of achieving financial freedom. This is very similar to how I got started and I'm quite sure you can do the same! Just let me know if you have any questions/concerns and i would be more than glad to help as much as I can. By the way, you might also want to try watching "Property ladder". Haven't watched "Flip this house" yet but I intend to do so. Thanks and God Bless! Hi Lito, thank you so much for sharing here your journey and your goal of achieving financial freedom. This is very similar to how I got started and I’m quite sure you can do the same! Just let me know if you have any questions/concerns and i would be more than glad to help as much as I can.

By the way, you might also want to try watching “Property ladder”. Haven’t watched “Flip this house” yet but I intend to do so. Thanks and God Bless!

]]> By: Lito Panis http://www.foreclosurephilippines.com/2009/03/robert-kiyosakis-introduction-of-his.html#comment-1044 Lito Panis Tue, 16 Mar 2010 07:07:01 +0000 http://localhost/wordpress/index.php/2009/03/robert-kiyosakis-introduction-of-his-six-steps-on-how-to-invest-in-real-estate.html#comment-1044 Jay, Your such a big help to me, I have been reading Bo Sanchez books, and Robert Kiyosaki's, and now as I browsed for foreclosed properties web sites, I found your website, on which I read about Trace Trajano and his mission of 1 million Filipino millionaires. I am an OFW who is literally, paycheck to paycheck, no savings yet after 8 years of working abroad. Also As I watched the program in Bio Channel, "Flip this House", I learned about how they earn a lot of money in just short time period, by buying,renovationg and selling foreclosed properties. I need to learn all of these so I could have financial freedom and not go back as an OFW and leave my family. May the good Lord bless you. Lito Panis OFW from Tondo Jay,

Your such a big help to me, I have been reading Bo Sanchez books, and Robert Kiyosaki’s, and now as I browsed for foreclosed properties web sites, I found your website, on which I read about Trace Trajano and his mission of 1 million Filipino millionaires. I am an OFW who is literally, paycheck to paycheck, no savings yet after 8 years of working abroad. Also As I watched the program in Bio Channel, “Flip this House”, I learned about how they earn a lot of money in just short time period, by buying,renovationg and selling foreclosed properties. I need to learn all of these so I could have financial freedom and not go back as an OFW and leave my family. May the good Lord bless you.

Lito Panis
OFW from Tondo

]]> By: Jay Castillo http://www.foreclosurephilippines.com/2009/03/robert-kiyosakis-introduction-of-his.html#comment-1043 Jay Castillo Thu, 06 Aug 2009 10:57:41 +0000 http://localhost/wordpress/index.php/2009/03/robert-kiyosakis-introduction-of-his-six-steps-on-how-to-invest-in-real-estate.html#comment-1043 Hi Reggie, thanks for the compliment! Let me try to answer your questions as follows: 1. If you are referring to OPM or other people's money, yes, I believe they are available in the form of money from private lenders or passive investors. However, my take on this is that this requires a very sound contract that offers adequate protection for all parties involved. Actually I'm looking for a sample contract that can be used for this purpose but I haven't found any yet. 2. Foreclosed properties are definitely cheaper but you will have to choose wisely. Some are cheap because they really need lots of money to repair and would leave little room for profits for investors. Others however are real "gems" because they are priced way below market value yet the repairs are not too costly, and the property's after repair value is very high w/c means substantial profits. I guess for every 100 foreclosed properties out there, you will find at least one of these "gems". 3. For bank foreclosures, I believe that paying in cash is not really a big "bargaining chip" because prices for properties for negotiated sale are really negotiable regardless of whether one pays in cash or through installment. Personally, I go for properties that are discounted at by at least 40% compared to market value, whether they be for negotiated sale or through public auction(which are not negotiable). Hi Reggie, thanks for the compliment!

Let me try to answer your questions as follows:
1. If you are referring to OPM or other people’s money, yes, I believe they are available in the form of money from private lenders or passive investors. However, my take on this is that this requires a very sound contract that offers adequate protection for all parties involved. Actually I’m looking for a sample contract that can be used for this purpose but I haven’t found any yet.

2. Foreclosed properties are definitely cheaper but you will have to choose wisely. Some are cheap because they really need lots of money to repair and would leave little room for profits for investors. Others however are real “gems” because they are priced way below market value yet the repairs are not too costly, and the property’s after repair value is very high w/c means substantial profits. I guess for every 100 foreclosed properties out there, you will find at least one of these “gems”.

3. For bank foreclosures, I believe that paying in cash is not really a big “bargaining chip” because prices for properties for negotiated sale are really negotiable regardless of whether one pays in cash or through installment. Personally, I go for properties that are discounted at by at least 40% compared to market value, whether they be for negotiated sale or through public auction(which are not negotiable).

]]> By: Reggie http://www.foreclosurephilippines.com/2009/03/robert-kiyosakis-introduction-of-his.html#comment-1042 Reggie Tue, 04 Aug 2009 12:32:40 +0000 http://localhost/wordpress/index.php/2009/03/robert-kiyosakis-introduction-of-his-six-steps-on-how-to-invest-in-real-estate.html#comment-1042 Hi Jay, Thanks for your very informative blog! I have few questions: 1) I rich dad poor dad, Robert talked about other source/means of financing vehicles to buy a property aside from bank. Are these also available in the Philippines? 2) Is it generally cheaper to buy in foreclosures? 3) In the Philippine real estate foreclosure market, how much discount can you get if you buy a property in cash? Thanks a lot again. More power to you Hi Jay,

Thanks for your very informative blog!

I have few questions:

1) I rich dad poor dad, Robert talked about other source/means of financing vehicles to buy a property aside from bank. Are these also available in the Philippines?

2) Is it generally cheaper to buy in foreclosures?

3) In the Philippine real estate foreclosure market, how much discount can you get if you buy a property in cash?

Thanks a lot again. More power to you

]]> By: Jay Castillo http://www.foreclosurephilippines.com/2009/03/robert-kiyosakis-introduction-of-his.html#comment-1041 Jay Castillo Sun, 12 Apr 2009 23:40:00 +0000 http://localhost/wordpress/index.php/2009/03/robert-kiyosakis-introduction-of-his-six-steps-on-how-to-invest-in-real-estate.html#comment-1041 Hi Richard, thanks for your comment! Have you read Think Rich Pinoy! by Larry Gamboa? I think they shall also be having seminar on May 2, 2009. You can get more details here: http://richteamevents.blogspot.com/2009/04/think-rich-pinoy-wealth-seminar-on-may.html<br/><br/>I shall be covering the actual process in this blog as I go through the process myself, based on actual experience. With regards to forms, please check this post: http://www.foreclosurephilippines.com/2009/04/19-free-legal-forms-and-contracts-from.html Hi Richard, thanks for your comment! Have you read Think Rich Pinoy! by Larry Gamboa? I think they shall also be having seminar on May 2, 2009. You can get more details here: http://richteamevents.blogspot.com/2009/04/think-rich-pinoy-wealth-seminar-on-may.html

I shall be covering the actual process in this blog as I go through the process myself, based on actual experience. With regards to forms, please check this post: http://www.foreclosurephilippines.com/2009/04/19-free-legal-forms-and-contracts-from.html

]]> By: Richard http://www.foreclosurephilippines.com/2009/03/robert-kiyosakis-introduction-of-his.html#comment-1040 Richard Tue, 07 Apr 2009 07:18:00 +0000 http://localhost/wordpress/index.php/2009/03/robert-kiyosakis-introduction-of-his-six-steps-on-how-to-invest-in-real-estate.html#comment-1040 Hi! aside from learning from this very informative site, can you recommend or do you know a book i can read offliine or even a seminar on this subject or the actual process and actual tips, or with the necessary documents or forms used in the process?, sorry for the long description, but for planning doing this part time it can be a big help, thanks Hi! aside from learning from this very informative site, can you recommend or do you know a book i can read offliine or even a seminar on this subject or the actual process and actual tips, or with the necessary documents or forms used in the process?, sorry for the long description, but for planning doing this part time it can be a big help, thanks

]]> By: Jay Castillo http://www.foreclosurephilippines.com/2009/03/robert-kiyosakis-introduction-of-his.html#comment-1039 Jay Castillo Mon, 09 Mar 2009 23:13:00 +0000 http://localhost/wordpress/index.php/2009/03/robert-kiyosakis-introduction-of-his-six-steps-on-how-to-invest-in-real-estate.html#comment-1039 Hi Jonats, thanks for the feedback. As I have been telling my friends, this blog will eventually become an e-book once I have documented a complete cycle of a real estate investment from looking for a property, buying it, fixing it up, and the exit strategy that I will use. Come to think of it, 4 months have passed and I have barely scratched the surface. As much as possible I base my content on actual experience. Maybe for now, I'll setup a table of contents that serves as an outline so that one can read articles in proper order. I will also post content in the proper order for the beginning investor while ensuring I fulfill topic requests. Would this be okay? Hi Jonats, thanks for the feedback. As I have been telling my friends, this blog will eventually become an e-book once I have documented a complete cycle of a real estate investment from looking for a property, buying it, fixing it up, and the exit strategy that I will use. Come to think of it, 4 months have passed and I have barely scratched the surface. As much as possible I base my content on actual experience. Maybe for now, I’ll setup a table of contents that serves as an outline so that one can read articles in proper order. I will also post content in the proper order for the beginning investor while ensuring I fulfill topic requests. Would this be okay?

]]> By: Jonats http://www.foreclosurephilippines.com/2009/03/robert-kiyosakis-introduction-of-his.html#comment-1038 Jonats Mon, 09 Mar 2009 15:00:00 +0000 http://localhost/wordpress/index.php/2009/03/robert-kiyosakis-introduction-of-his-six-steps-on-how-to-invest-in-real-estate.html#comment-1038 Hi Jay, <br/>Does your blog have some sort of an ebook that summarizes the basics of investing in foreclosed properties? Or at least a set of page series about it. Thanks. I find it a bit hard to just check each and every post I think is related to basics. :) Hi Jay,
Does your blog have some sort of an ebook that summarizes the basics of investing in foreclosed properties? Or at least a set of page series about it. Thanks. I find it a bit hard to just check each and every post I think is related to basics. :)

]]> By: Dinah http://www.foreclosurephilippines.com/2009/03/robert-kiyosakis-introduction-of-his.html#comment-1037 Dinah Mon, 09 Mar 2009 07:02:00 +0000 http://localhost/wordpress/index.php/2009/03/robert-kiyosakis-introduction-of-his-six-steps-on-how-to-invest-in-real-estate.html#comment-1037 been hearing and reading about Rich Dad Poor Dad especially from a<a HREF="http://www.pinoymoneytalk.com/forum/index.php?topic=299.0" REL="nofollow" rel="nofollow">forum topic</a> in PMT. I hope to read it later and be enlightened as well. thanks for sharing been hearing and reading about Rich Dad Poor Dad especially from aforum topic in PMT. I hope to read it later and be enlightened as well. thanks for sharing

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