I am featuring an e-mail I received through the mailing list of Larry Gamboa, author of the book “Think Rich Pinoy!”, with regards to two things I am very passionate about, Real Estate Investing and Internet Marketing. I’ll explain more about these in a bit but before that, I am reprinting the whole e-mail below for everybody’s reference.

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Subastahan Sa Tag-Init, a public auction of foreclosed properties powered by The Property Forum Phils., shall be held on April 30, 2009 at the Max’s Restaurant Shangri-la Edsa corner, Shaw Blvd. Mandaluyong City, Philippines. Registration starts at 11:00AM and the auction proper starts at 12:00NN.

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At least that’s the way I look at it. My purpose for making money through foreclosed property investing is not really about having lots of money or getting rich, its about having the freedom to do the things that are truly most important in life, without worrying about where to get money to provide for my family.I have a four year old son who is growing rapidly right before my eyes and I would rather be a father that is always there for him than one who is always working hard in an office somewhere, confined to having weekends and short vacations as free time to spend with my family. I tell you, spending the best years of your life “working hard” is not worth it when you realize that life is really passing you by. Read the rest of this entry

When buying a foreclosed property, the buyer often shoulders the Documentary Stamp Tax (DST). In the Buena Mano Green Tag Foreclosed Property listings for example, it is explicitly stated that DST is for the account of the buyer and DST is 1.5% of the Selling Price (SP) or Zonal Value (ZV), whichever is higher. To illustrate, I’ll reuse the example I used in my post about CGT.

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I got this public auction announcement for bank foreclosed properties of Unionbank from my father-in-law. The foreclosed properties for sale are from the Visayas and Mindanao areas.

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As promised, I am sharing a sample Rent-To-Own contract specifically for use here in the Philippines. A Rent-To-Own contract is more correctly referred to as a Contract of Lease with Option to Purchase or CLOP.This is similar to lease option contracts used in other countries like the US. Read the rest of this entry

One reason would probably be because they are giving discounts on previously unsold bank foreclosed properties. I noticed some foreclosed properties that remained unsold in previous Dream Buys Auctions of RCBC Savings Bank have had their minimum bid prices reduced by 5%.

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I have here a new foreclosure listing from Unionbank for another run of their Special Public Auction of foreclosed properties on April 18, 2009, Saturday, 9:00am, at the Delas Alas Room, 2nd floor, Philippine Columbian Sports Club, Plaza Dilao, Paco, Manila, Philippines. This is their 135th public auction of foreclosed properties and their 4th for 2009. As I have mentioned in my previous posts about Unionbank, I notice that they hold their public auctions of foreclosed properties every month. Read the rest of this entry