About
Who am I?
Hi, I’m Jay Castillo, a real estate investor and internet marketer based in the Philippines, on a journey to financial freedom.
I was an Information Technology professional before I decided to go full-time with real estate investing and internet marketing.
Way back in 2006, I decided to quit my job. However, it took me 4 more years before I actually did. I decided to get out of the rat race when I suddenly realized that my job was literally killing me. At such an early age, I was diagnosed with hypertension with no underlying reason. I believe it was caused by severe stress from my work.
I was an I.T. Manager back then, but by default, I was also the Oracle Database administrator/developer, Information Security Manager/Network Specialist/Server administrator, and Helpdesk Staff (we lacked manpower pretty bad, and this actually lasted for more than 3 years).
This image from richgrad.com best describes how I felt back in the rat race!
With the scenario above, is it any wonder why I wanted to get out of the rat race?! At the back of my mind, I knew that there was more to life than just being an employee that was grossly overworked… for what?! This sustained my passion and desire to venture into real estate investing, and later into internet marketing.
My real estate broker credentials
I reviewed for and passed the November 2007 Real Estate Brokers Exam which was still under the Department of Trade and Industry (DTI) back then. My DTI Real Estate Broker License # is REB-NCR20056(N)-08.
As of March 29, 2011, my application for registration without examination has been approved by the PRBRES and I am now a PRC licensed real estate broker with Real Estate Broker License No. 3194.
To verify that I am a PRC licensed real estate broker, you may use the following procedure:
- Visit the “Verification of Professional Licenses” page at PRC’s website: http://www.prc.gov.ph/services/default.aspx?id=16
- Use the “Search by name” option
- From the list in the “Profession” box, select REAL ESTATE BROKER
- On the “First Name” box, enter JOSE DIONISIO
- On the “Last Name” box, enter CASTILLO
- Click on the orange “Verify” button
- The verification result will be displayed
Tip: You can also use the same procedure above to verify the license of other real estate brokers!
I started this blog last October 31, 2008
When I started this blog, I was more focused on acquiring investment properties that generate passive income through foreclosed real estate investing. My goal then was to surpass my passive income goal before the end of 2009, and then I shall “retire” from active employment and go full-time with my advocacy.
This was exactly what I did, although it came a bit late. I was only able to “retire” from active employment by the end of January 2010. I was late by about a month but I don’t mind that one bit!
Now I’m more active as a real estate broker, although I’m still on the lookout for good deals and opportunities.
The journey continues…
My advocacies
Financial Literacy
So what are my advocacies? For one, I advocate financial literacy as a means to a worthwhile end: becoming financially free!
After one becomes financially literate, the next logical step would be to find other income streams, ideally, the passive ones.
Obviously, one way to do this would be through investing in foreclosed properties in the Philippines.
Why bother to become financially free? To live life to the fullest! Ask yourself, what would you do if money was no longer an issue? Think about it!
Real estate investing for real in the Philippine setting
Another advocacy of mine is to help fellow beginning or newbie real estate investors to succeed with real estate investing here in the Philippines. I do this by sharing what I have learned based on actual experience.
Mission
In a nutshell, my mission is to be financially free with the ultimate purpose of helping people and my community. My goal is to make a positive difference in the lives of people around me, no matter how small that may be.
The only way I can do this is to share the lessons I myself have learned in my journey to financial freedom. After all, one cannot give what he does not have. I hope to help as much people as I can who are in the same journey.
Vision
In the perfect world that I envision, I can see a lot of people who are truly rich and financially free. Would you want to be part of that world?
About the blog
I started this blog as a tool to help me in my real estate investing activities. In this blog, I have all my foreclosed property listings and important websites online, so I have no more clutter and lost clippings of foreclosed properties at home. Old listings are archived and can be accessed as needed … Click here to learn more…
Why did I choose the domain foreclosurephilippines.com?
I often get the question “Why foreclosurephilippines.com”? It sounds too negative! It’s like I want to foreclose the whole Philippines. This of course is not true.
I simply chose the domain foreclosurephilippines.com for search engine optimization (SEO) purposes. A lot of people are actually searching for these keywords using Google, which is probably why a lot of people end up on this site!
Foreclosure Investing Philippines runs on the self-hosted WordPress blog platform and is powered by the Thesis WordPress Theme. Our hosting is provided by Dreamhost and I got the domain from GoDaddy.
What am I doing and why?
My goal here is to make investing in real estate in the Philippines a bit easier for fellow real estate investors out there. At the very least I want to help make it easier for people to find all available listings of foreclosed properties out there.
At the same time, I want to share real life lessons learned from the trenches, the things you will learn for yourself if you do decide to go out there and invest in foreclosed properties here in the Philippines.
I am not a real estate guru!
I still see myself as a newbie real estate investor, believe it or not, and I don’t claim to be a guru! I still have a lot to learn, who doesn’t?
Without the hype and B.S.
I would like to paint a realistic picture of how this can be done without the hype and B.S… period! After all, investing in foreclosed properties is not a get rich quick scheme!
Raising hope without giving false hope
I keep on saying that real estate investing might be simple, but it is not easy. No, I am not trying to discourage anyone out there, I just want everyone to manage their expectations. It can be done but it would take a lot of hard work and perseverance, at least at the very start.
Even if one is able to create passive income streams, there is still such a thing called maintenance and management of one’s business, which in this case is real estate investing.
I would like to point out that there really is hope that real estate investing can lead to financial freedom, but you have to pay the price. I would not want to give any false hopes that you can achieve success in real estate investing overnight. You need to plant before you can harvest, there are no shortcuts.
Investing in real estate ethically, morally, and legally
I truly believe that we can all invest in real estate in an ethical, morally upright, and legal way. We can do this without taking advantage of other people, and this is the only way for long term success.
Paying it forward
I simply believe that this is the right thing to do. I guess this is my way of paying it forward to all newbie real estate investors out there. A lot of people helped me along the way, and I want to do the same.
You are not alone
If you are new to real estate investing in the Philippines, I just want to let you know that yes, it can be done, and you don’t have to do it alone, because you are not. You are welcome here, enjoy your stay!
Here’s to our success and financial freedom!
Jay Castillo
Real Estate Investor
PRC Real Estate Broker License # 3194
Blog: http://www.foreclosurephilippines.com
Follow me in twitter: http://twitter.com/jay_castillo
Foreclosure Philippines in Facebook: Foreclosure Philippines Facebook Page
Text by Jay Castillo. Copyright © 2008 – 2011 All rights reserved.
Image source: Richgrad.com
PS. If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.
PPS. If you feel that anyone else you know might benefit from the contents of ForclosurePhilippines.com, please do share this to them and don’t forget to remind them to subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. If your inbox is getting full, you may subscribe through my RSS Feed instead.
{ 99 comments… read them below or add one }
hi, jay, nice and very informative website, just dropping by…
hi jay,
could you give us an idea on how your property portfolio looks like currently?
Hi Irene, I currently have 2 house and lots but we live in one of them. The other is under a rent-to-own contract. I have a pending property that is still being occupied by the previous owner after more than a year, which explains why I strongly advice others to stay away from bank foreclosed properties that are still occupied by previous owners. I am also part owner of our family’s subdivision in Caloocan and I really look forward in helping to turn it around and make it profitable again but first things first, I have to get at least 3 more passive income generating properties for myself in order for me to be financially free and have the time to do so.
what areas are you looking at investing? Do you have any advice?
Hi Irene, I basically target the whole Metro Manila except Novaliches, and the CaMaNaVa area. In what particular area in foreclosed real estate investing would you need advice on?
Hi Jay,
Why not Novaliches and Camanava?
I’m targeting areas with high rental yield and good tenant demographics.
Hi Irene, they are too far. Maybe I’ll consider these areas when I go full time into real estate investing so I’ll have the time. I like your strategy!
Hi Rey, thanks for visiting!
…hello Jay, i just want to know the abc’s of rent-to-own. I am in the process of selling my condo unit in las pinas, and since my prospective buyer won’t be able to pay in full, i am considering the above option. is there a way for me to send you (email) the details so as to get a good advise from you whether i’m in the right track? many thanks.
Hi Mang Jun,
Sure, just drop me an e-mail at ph.investor@gmail.com and I’ll answer as soon as I can. Thanks for dropping by!
Hi Jay. I am currently looking for a house to buy – could be thru pag-ibig housing loan or rent to own. Do you have any leads? I would prefer somewhere in Taytay/Cainta, Rizal area or Meycauayan/Marilao, Bulacan area. Do you have any leads?
Hi Hazel, will let you know if I come across any in the areas you mentioned. Thanks for visiting!
Hi Jay!
Meron akong balak bilhin na 12.5Hectares na forclose agri land sa Bangko. Paano to ma transfer sa name ko na more than 5hectares raw ay d pwede ma transfer or d pwedeng benta? Wala bang exemption ang bangko sa rule na ito?
Maraming Salamat.
Hi Sonny, unfortunately, RA6657 really sets a limit to 5 hectares for the owner and 3 hectares for each child. if you have 3 qualified children then you can have that property transferred to your name, at least that’s my interpretation of the retention limits on RA6657. I’ll paste it below for your reference:
SEC. 6. Retention Limits.- –Except as otherwise provided in this Act, no person may own or retain, directly, any public or private agricultural land, the size of which shall vary according to factors governing a viable family-sized farm, such as commodity produced, terrain, infrastructure, and soil fertility as determined by the Presidential Agrarian Reform Council (PARC) created hereunder, but in no case shall retention by the landowner exceed five (5) hectares. Three (3) hectares may be awarded to each child to the landowner, subject to the following qualifications: (1) that he is at least fifteen (15) years of age; and (2) that he is actually tilling the land or directly managing the farm: Provided That landowners whose lands have been covered by Presidential Decree No. 27 shall be allowed to keep the area originally retained by them thereunder ; Provided, further, That original homestead grantees or direct compulsory heirs who still own the original homestead at the time of the approval of this Act shall retain the same areas as long as they continue to cultivate said homestead.
I suppose banks are not exempted from the agrarian reform law. I hope this helps. Thanks for visiting!
nice website help a lot!im now working here in dubai UAE.im looking for a house in lot in manila. ty
hello nice web site!
im looking for a house and lot foreclosure from the bank. loaction in manila.
TY
joelrey
dubai UAE
00971506514520
Hi Joelray, thanks for the compliment. I really need to find time to help you and others who are also looking for foreclosed properties. I might even consider getting my own agents for this. At the moment, I’ll keep an eye out for properties for you. Thanks for visiting!
Jay,
Thanks for sharing this information. You are really good in this field. I am proud to be a pinoy like you. I’ll be returning to this site regularly. Keep up the good work.
Hi Vic, thanks for the compliment! Coming from you, it’s quite an honor, I have been a lurker at your site since late last year… hehe. Thanks for dropping by!
Congratulations to a very successful blog.
I am a web developer and a CPA by profession. I have emailed something to your email add for collaboration.
Thank you for creating this blog.
Hi Toti, thanks for the kind words! Got your e-mail and I will reply shortly.
Hi Jay,
I have some concerns regarding hiring you as my real estate agent. Please reply back on my email just to be confirmed.
Thanks.\\
Norma
Jay, i like your site. It’s informative. This would be of great help to a lot of people.
Thanks Benjie! You can also do this in Davao… =)
Hi Jay,
I would like to take this lead of informing you of a couple of initiatives that would have a big impact on your business.
How can I contact you aside from your website.
jay,
very interested,would like to ask about cmp lots if you know the developments in c6 road brgy. napindan, taguig city, plsgive me an idea what is cmp lots. thanks.
lot
Hi Malourdes, I’m not really sure what cmp lots are. Same goes for the developments in C6. Would you be able to tell me more about this so that I can ask around? Thanks!
I do online trading at PSE for years now, but I have no clear idea exactly between stock market & real state differences and all I know that stocks are more controlled than any other investment as long as you’re in the right trend (bullish).
Very nice entries sir, keep posting.. As a newbies, I will set time to learn from this site now on.
HI Joven, thanks for the comment! Actually it’s a good idea to diversify and have investments in different assets classes like stocks and real estate, although I believe one has better control with real estate, meaning you can actually do something to help improve the value of your property(by improving it, etc.).
sir jay,
good am! I’m Erwin S. Francisco an OFW working here in Singapore.i’m interested in real property but i dont know how to start.i’m reading all blog about foreclosure real property. Also i want to ask cause i buy a lot with improvement in pampanga to be paid in 3 years .paying the amortization every month is so high that there only enough money left for me to spend. i’m thinking if its a good investment or not cause it taking money for me every month. i hope you can help me.
thanks!
Erwin S. Francisco
Hi Erwin, it really depends on your goals. In my case, my goal is to have positive cashflow from the start so I would rather not have an investment like yours. My advice would be to have it rented out so that it can at least offset some of your monthly amortizations. i hope this helps.
Hi. My wife’s family owns a prime property in Cebu City. Recently, a friend of mine told me that a foreigner is interested in developing the property through a joint venture or long term ground lease. Which do you think would be better? If we opt for ground lease, how do we determine the rental/lease rate? I personally would opt for the lease with surrender clause for the building after expiration of lease. Do you know of anyone expert on ground leasing that we can get just in case.
Hi Danny, it would really depend on the numbers and your risk appetite. Having a JV would appear more profitable but the risk here is if people don’t buy the units, you won’t get your money. On the other hand, leasing the land would be okay and less risky but it would certainly be less than that of the JV, although you do get to keep the improvements at the end of the lease term.
I would recommend you look for a real estate consultant who has ACTUALLY DONE JV deals, like Engineer Enrico Cruz and others like him. I myself have had no experience doing JV’s yet. Goodluck!
Hi Jay, I came across this blog since I wanted to buy investment property in the Phils. I am looking at a lot in Novaliches and currently thinking about if I should buy it or not. I saw your comments below that you seem not interested in Novaliches area. Any reasons why? Just want to make sure I’m not making a mistake in buying and your idea would be very useful. I’m an OFW and really don’t have much visibility in the Phils real estate but a good friend of mine is helping me out to inspect and decide whether its good or not. I just want to get confirmation from experts like you. Would you also let me know where to start as far as websites are concerned to learn about more on RE in the Philippines.
Thanks in advance for your reply.
Hi Gemma, the only reason why I don’t like to invest in Novaliches, Caloocan, Bulacan, Malabon, etc is the distance. Even when we lived in Marikina, investing in these places would be a bad idea for me because of the time I would waste to travel to inspect prospective properties and maintain them if I do buy them.
However, If you live in Novaliches, I see no problem for you to focus on that area. Good luck!
Hi Jay,
First of all congratulations for being one of the top 100 Pinoy Bloggers for 2011… I really appreciate your site, it’s very informative. Knowing na may mga taong tulad mo, makes me a Proud Pinoy! Sana dumami pa ang tulad mo para naman umunlad ang bansa natin… Anyways, I’m just a newbie…I started calling banks for their Non Performing Assets may nag-email naman sa akin kaso may mga terms akong di maintindihan like COS Annotated, Closed Dacion, COS Release, Auction but no COS yet… Hope you can help me by explaining it further… Thanks!
Hi Myles,
Thanks for the compliment!
Let me try to explain those terms as follows:
COS – it means Certificate Of Sale. This means a property has already been sold through a foreclosure sale and the COS is annotated on the Title(the title is updated with the COS details). The date of annotation is usually the date when the 1-year redemption period starts.
Closed Dacion probably means a property became the payment for a debt in lieu of cash and it is already finished or final.
COS Release means just that.
Auction but no COS yet means the property has already gone through a foreclosure sale but the COS is yet to be prepared.
I hope I have explained the above well.
Kudos Jay!! Keep them coming..
Thanks Jun!
Hi Mr. Jay,
I would like to ask what is the legal basis this…
“Do property owners need real estate brokerage license to sell their own property?” I came across an article that states a property owner do not need one. I can’t find it now when I googled for it. Please help. Tnx.
Hi Cecille, as per Section 28-(a) of the RESA Law IRR, owners are exempted except if they are developers. I have quoted Section 28-(a) below:
(a) Any person, natural or juridical, who shall directly perform by himself/herself the acts mentioned in Section 3 hereof with reference to his/her or its own property, except real estate developers who are regulated by and registered with the Housing and Land Use Regulatory Board (HLURB) pursuant to law and other resolutions/regulations such as but not limited to Presidential Decree (PD) 957, as amended, and Batas Pambansa Blg. 220 and their Implementing Rules and Regulations;
Hi Jay,
You have indeed created a very interesting & informative website / blogs. Thank you for sharing your knowledge and experiences.
I am an ex-ofw .. got a couple of properties & savings enough for me and my husband’s retirement (i guess) but am not ready to retire as yet .. very interested in everything you write about.. especially about investing in foreclosed properties..
Am a newbie. How do i get started? Reading your blogs is a good start i guess..
I may be in a position to invest / buy .. but can’t do the selling (just can’t .. not good at it) .. but of course whatever i buy must go right?
Let me know if there’s a way we can cooperate.
regards,
Yllen
hi jay im digz, you’ve been a big help to our fellow Filipinos. I need your expert advice on this, my friend decided to sell his house since he will be leaving for new Zealand for good my problem is there were a lot of advises as how I can acquire the property thru loans etc etc and to be totally honest I still don’t have enough cash to outright buy it. The total amount is 1.8M and he left the original title to me. I’m thinking for a housing loan and my options are Pagibig and bank loan. My monthly declared salary is only 40K++. What is the best option for me? Thank you so much
Hi Jay,
It’s a nice website, congratulations my friend.
Regards,
lomsody
Magandang story. very inspiring for people who want adventure to seek financial freedom.
Thanks a lot Bob!
Thank you for posting updates on your blogs and sharing your knowledge on foreclosed properties. I would like to inquire about the Pros and Cons of Foreclosed properties? I read in some forums that it sometimes takes time for you to get the title of the house if the property is foreclosed. Been meaning to buy a foreclosed property, but I’m hesitating because I don’t know the disadvantages to buying one.
Hi Jay, Im Dimple del Rosario from Electronic Banking Dept. of RCBC Savings Bank, I find your site very helpful in posting our updated Repo list. Please feel free to contact me for the updated list. Thank you very much. =)
Hi Dimple! Thanks a lot for the dropping by. Yes, I will be contacting you shortly in a separate e-mail, I am looking for the list for the auction on October 22, 2011. Thanks!
Hi Jay,
Thank for your sharing your story. A truly inspiring one. I’m just starting out my journey to financial freedom.
I’ve started investing in stocks and would like to venture as well in real estate. My wife and I are planning to buy a
6 door rental property. The property is a little bit neglected but we see its potential.
However, we found out that the structure does not appear in the tax declaration. The structure has been there for 13 years.
If we do a late declaration, what is the penalty rate?
Thank you very much.
Arnold
Thanks Jay for this blog, it really helps me a lot to start in real estate investing.
You’re welcome Em, thank you also for dropping by!
Hi Jay
Your website is very informative and this will help a lot of our fellow Filipinos who are new in real estate. I learned a lot from it. Can you recomend a real estate agent for me? I have a property near the Masinag Market that I wanted to sell. It is in a gated community
Hi Wilma, thanks a lot for the kind words. I have a friend who is also a real estate broker and he lives nearby your property. Just let me know the details so I can check with him if he can accommodate your need to sell your property.
If you can me the details @ edcetbuilders@yahoo.com
hi sir jay.. itatanong ko lang po sana kung ano na mangyayari sa commission ng ahente sa GA SKY SUITE? may pag asa pa po ba itong makuha gayung foreclosure na pala ang SKY SUITE? maari po bang maibigay na ng buo ang natitirang commission ng mga ahente?
salamat po!
hi jay, i am just planning to buy a house and lot or lot only from a bank(maybe acquired assets), preferably within quezon city and 36 to 50 square meter, but i want it through financing or a rent to own type, i have 200k as cashout then the rest would be through installment. i want to know from you if there are any property you know based on mu preference. thanks
oslec
Hi Jay. I have found your site very helpful. I have been reading your posts since last year.
I have a situation here. And I thought you would be able to help clear this.
The facts are:
1. In February 2009, I moved in a condo in Quezon City.
2. In June 2010, my developer got the loan take out from Pag-IBIG. Then, I started paying the 5-year Pag-IBIG loan amortizations.
3. In December 2011, I asked my condo developer concerning real property tax. My condo developer told me that I have to pay the tax to them.
My queries are:
1. Am I required to pay the real property tax even before I get the title to the property?
2. If yes, when should the period of paying the real property tax start? Will it be from the move-in date (2009) or from my first Pag-IBIG amortization payment (2010)?
3. Do I have to reimburse my developer for taxes paid on the property from 2009 or 2010 (as the case may be) up until present?
4. If I have not asked my developer about paying the real property tax, I would not have been required to pay the tax now. Do I really have to pay the tax now — or can I opt to pay the tax when I get the title?
Many thanks in anticipation of your response.
More power and best regards.
Yuhan
Hi Yuhan,
It’s either Jay is too busy to answer or he answered you in private. If you got the answers on your questions form Jay, can you pls share them with us?
Thanks and good luck.
Hello Amigosan
Thanks for your message.
You may be right — Jay may be too busy at the moment. We respect that. Perhaps, we can wait for a while. I am confident he will provide us some answers soon.
Good luck and kind regards.
Hi Amigosan
Thanks for your message.
You may be right — perhaps Jay is a bit busy right now. I suggest we wait for awhile. I am confident he will provide us some answers soon.
Thanks and kind regards.
Hi Yuhan. Jay likely has a lot of messages. This is a very busy site. I have some experience in real estate so let me give some answers.
1. Am I required to pay the real property tax even before I get the title to the property? Yes. The local gov’t doesn’t care if you have the title or not. They will levy the real property tax in any case.2. If yes, when should the period of paying the real property tax start? Will it be from the move-in date (2009) or from my first Pag-IBIG amortization payment (2010)? Most likely, it’s your turn-over date. Check your contract-to-sell. There’s likely a clause there stating when should you pay your real property tax.3. Do I have to reimburse my developer for taxes paid on the property from 2009 or 2010 (as the case may be) up until present? See #2. Check your agreement with the developer.4. If I have not asked my developer about paying the real property tax, I would not have been required to pay the tax now. Do I really have to pay the tax now — or can I opt to pay the tax when I get the title? See #2. Read the fine print. Taxes are not optional. Somebody has to pay them. If it was the developer, they will likely put additional charges on top of the property tax.
hi jay,
Is it possible to ask for a copy of consolidated foreclosed properties only in cebu with different banks?
Hoping you could spare some of your time to do this and email to me. thanks
john
prime_asia@hotmail.com
Hi! Jay,
Do you have foreclosed property in Multinational Village Paranaque i only have limited budget. Can you send me an e-mail of these properties.
Hoping for your response. Thanks
Maricon
maricon_malik@yahoo.com
nice site, jay! keep it up..
Good day Jay.
I’m interested in real property but i don’t know where and how to start.i’m reading all blog about foreclosure real property. I attended the last TRP last Dec3 at Philamlife.
Paano po kung hindi naman ako Licensed Real Estate Broker, pwede pa rin ba ako maghanap ng foreclosed properties and have it rent-to-own or atleast ipa-rent?
I hope you can help me.
Hello Jay: I wonder if you can give me some advise regarding on how to go about on buying a house in Paranaque, I am currently residing in US, my money is currently tied up and not be able to buy in cash. I will be able to make some dp and monthly payments for now. How much can I bargain for a house, not familiar with anything. I go home twice a year and really would like to have a place of my own when I go home.
hi jay,
Seems i can’t get through you, you’ve got a long stretch of fan mails. It simply shows that foreclosed properties are in demand. You did the right decision.
The avida condo @ Boni is a good investment. Can I purchase it through Pag ibig fund?
hi kuya jay… hindi ko masyado naiintindihan ang ibig sabihin ng foreclosed… kakahanap ko ng lot na available sa taguig bumagsak ako sa site mo… hope if magkaron ka ng time please email me… kung tama pagkakaintindi ko ang ibig sabihin ng foreclosed ay mga property na na closed dhil hindi na kaya bayaran ng present na may ari… anyway please email me agad pag nagkapanahon ka. at kung may alam ka mura lng na foreclosed na khit lot lang sa taguig… 3 kami magkakaibigan sa isang government agency nagtratrabaho as assistant… pwede ba kami manghiram pag-ibig… tapos maghahati hati kami sa isang lote? possible po ba yun? this is my email aia.garcia@yahoo.com slamat po
hi jay, mind if i ask ur number for some questions especially bout this forclosed properties tnx – rachel
matagal po ba talaga ang forclosed process ng papers kc halos 2years na
my eamail: antonio_dalisay@yahoo.com
HI JAY,
I REALLY FEEL BLESSED THAT I DROPPED THIS SITE. IT’S BEEN A LONG TIME SEARCHING FOR TIPS AND HELPS REGARDING BUSINESS IN FORECLOSED PROPERTIES.
I REALLY DON’T KNOW HOW TO START. I KNOW THIS IS A GOOD CAREER MOVE. I HOPE YOU CAN HELP ME WITH THE ABC’s OF THIS. I AM PROUD OF YOU AS A FILIPINO.
HI JAY,
I REALLY FEEL BLESSED THAT I DROPPED THIS SITE. IT’S BEEN A LONG TIME SEARCHING FOR TIPS AND HELPS REGARDING BUSINESS IN FORECLOSED PROPERTIES.
I REALLY DON’T KNOW HOW TO START. I KNOW THIS IS A GOOD CAREER MOVE. I HOPE YOU CAN HELP ME WITH THE ABC’s OF THIS. I AM PROUD OF YOU AS A FILIPINO.
Hi Jay,
puwede bang paki viryfy mo itong title ID 15663 kong still available nasa batangas yong lot
gusto kong bilihen pls advice nasa Canada kami ngayon nag hahanap ng Residential lot na mauuwean sa pinas nakita ko ito sa foreclosure .
Hi Jay! Kudos to you and your wife. Your website is very informative and helpful. If i own an apartment builfing which is also my primary residence but at the same time a source of income since i have the other units rented out, do i pay capital gains tax or vat when i eventually sell it. I read somewhere that since it is my primary residence, the tax will be applied to the new primary residence i will be purchasing as long as it is with 18 months from the date of sale. Thanks! More power!
Hi Jay,
This is going to be a big help to many Filipinos. God bless you more.
Joshua Suarez
Hello Jay, can I ask a question regarding how to become a License Broker without exam, I work as Sales Manager In Asian Pacific Realty for almost ten years. Im a license Civil Engineer in the PRC. I did not apply in the DTI or any government agency, am i qualified to become a license Broker without exam?
I hope i can a positive answer, Thanks and God Bless.
Engr. Samuel Galan
73 Echavez Street Cebu City
Cell 09325820071
Hi Jay, you have a lot of backlog in comments. I envy you! That just goes to show that you are the leading real estate blogger in the Philippines. I hope my blog becomes like yours when it grows up.
Hi, I just wanna ask, what does BFS.com do? I’ve seen properties there but can’t find info’s that those are for sale and how to buy it. They just indicate offered price.. this is my email, markarsenio_moya@yahoo.com
Hi Jay!
You’re doing a really great thing! I wish you greater success not only in your real estate investing but in your service advocacy as well. Godspeed!
Hello Mr.Jay,
I would really appreciate if you could give me some advice or maybe enlightenment what to do and whom i can approach for help in Pagibig Fund Office.I have a low cost house in sta rosa laguna(88sqm) which was awarded to me in 1996 ,started paying the monthly amort.of 5,218.61 but only until 1998 (my employer closed his company without any compensation given to us employees)thus my delinquency until i joined SAGIP an NGO that gave us members hopes na di basta ma forclose properties namin and the officers really had meetings and dialogues with then Pag ibig Officers and some respectable politicians until we were allowed to avail of a special restructuring and we are to pay from the first to third year the amount of 2,973.99 and on the 4th yr 10,205.09 and 5th yr.should be 12,422.33 that seems to be unrealistic for all of us members to meet but…sabi nang aming SAGIP officers they were so sure na di kami aabutin ng 3 yrs and magkakaron ng positive resolution ang aming appeal.But our hopes turned into desperation because wala nang nakiipausap na officers of Pag ibig same the politicians and i learned that almost 70% of SAGIP members stopped paying the agreed amount of amortization but not me..i tried my very best to pay continously until 2008 despite my being jobless ( i am a single parent of 3 boys)i only run errands for friends handed some help from kind relatives and if swerte2 did some buy and sell on the side to survive.On Sept. 2008 nakipagusap ako sa Billing and collection div.ng Pagibig for some clarification because napansin ko na hindi nababawasan ang loan balance ko instead umabot pa nang 1M to my dismay considering na 375,000 lang ang contract price ng aking house n lot.PAG ibig told me wala ng mababawas talaga kasi masyado maliit ang hulog ko so I opened up to them with my situation and asked their kind help to just allow me if possible to pay again the orig amort of 5,218.61 kesa ma foreclosed na repeatedly nilang sinasabi sa akin and with that i was so hopeless kasi my house n lot is the only property i got (dugo at pawis naipundar) na maiiwan ko sa mga anak ko.
Until i was given another hope with the coming implementation of RA.9507Low Cost Housing Loan Condonation and Restructuring Program.They then computed me a new amortization amount of 13,917.25 payable within 12 years to my dismay.tinakot takot na ako nang foreclosure if i cannot come up with their demand of payment and there is nothing i can do but to follow kasi natakot na ako.Thanks to God my eldest son finished college 2009 and has helped me since then (nakakahiya man sa anak ko)because he has a family of his own now.I do not turn my back on obligations i know na ang utang ay utang pero i believe that meron at meron paraan ang ating government to help any filipino like me lalo at hardened up to own a house a simple house at that. i had paid my last amort.dec 2011 and i admit hirap na ako to pay for the next next months not until PAG IBIG will lend me a helping humanitarian hand. Do you think Mr Jay that i will still have all the chances of owning my house be granted a lower amortization to pay?Pls. pls. i need your help and advice .Sorry for this super long mail of mine.I thank you so much God Bless!
Andrea Pabalan
Hope you get to read this comment.
Dear Jay Castillo and wife, if are interested, or you have any ideas what you can do with them, two house/lots in Provident Village, please contact me: we can just help each other to our mutual benefit.
My email: pachomius2000(@)yahoo.com.sg ( I am in the Philippines and living in Diliman QC ) — please just remove the parenthesis marks ( ) and you have my email address ready to use to send me your reply.
Pancake Croissant
Two (2) units house/lot
In Provident Village Marikina City
145 Harvard concrete 2 floors
Location not floodable except for Ondoy
Lot area 336 sms
3 cars can park inside and enter/exit
without moving other cars
Price net 4 millions pesos
4 St. Anne near corner St. Rita
Concrete 2 floors
One (1) meter elevation from street level
Lot area 409 sms
6 cars can park inside, 3 can enter/exit
without moving other cars
Price net 2.5 millions pesos
Call Gerry 351-8168 973-0753.
Aka Pancake Croissant
Would you be interested in swapping. I have a property at Tierra Vista, Marikina
Dear Jay Castillo and wife:
You are to all appearances persons who are knowledgeable about fund management, I need people like you; do you accept questions in private from people like myself on matters that have to do with fund management?
Pancake Croissant aka Gerry
Hi! Jay,
I just wanna know if there is another set of schedule for broker license exam aside from march 27, 2012?
God bless,
Ice
Hi Jay. I would like to solicit your advise for a good real estate broker who maybe given the authority to sell a good location house and lot in Paranaque.. Thank you
hi jay, i am a real estate broker in california licensed by the de[t of real estate. how can i be a broker in the philippines? do i need to take the test? pls advise. ty
I’m selling my house at Tierra
Vista Subd.,Marikina.
LA 244 sqm FA 100+ sqm.
semi comm’l(main
road). It’s located along the primary road of the subdivision used by most
residents
all roads are cemented,
near tricycle terminal(easy access to public transport
corner lot,
car garage,
maid’s quarter w/ own T/B,
Foyer-Porch,
Dirty Kitchen,
side easement,
Lanai,
Chandelier
lightings,
Steel trusses for durability,
newly refurbished,
fruit bearing tree,
corner lot.
Few meters from
clubhouse (includes covered basketball court,tennis court, open spaces,
church, playground),
near Farco
Supermarket,
near NGI wet and
dry market.
formerly owned by showbiz personality.
Clean title
Php3,500,000
Can include
furnishing.
Call 639195383578
good site very informative.
Sir, how does the foreclosure auction works? if you are the winning bidder do you have to pay additional charges aside from the bid price?
Thanks,
God bless!
Hello sir Jay, I am a real estate agent for almost 9 years and haven’t tried selling a foreclosed properties. Right now i am having a hard time looking for a house and lot with at least 500 sqm and 200 sqm lot area for parking purposes of a 13 units jeeps and 3 jeeps somewhere in Dasmarinas city. My client is persistent to find them asap. What to do? Thanks and god bless. J.M
May I be informed/advised about a foreclosed house I bought in Narra Homes, Imus, Cavite from Balikatan Property Holdings on March 24, 2011 and it’s almost a year now.I bought the property because the redemption period is already over. However the former owner doesn’t vacate said property because he said Balikatan has not sent him any notice ordering him to vacate the house. When I requested Balikatan thru NHM to send him a letter, their employees would quote what is stipulated in the Deed of Conditional Sale “As is Where is”. My query is if Balikatan is the owner of the foreclosed house, why can’t it order the occupant who did not do his obligation of paying the house and lot per contract? Why do I have to resort to going to court? Please inform. Thanks.
hi jay, am looking for forclosure res.lot/house and lot around baguio,benguet and pangasinan(along hi-way only)..pls email me.tnx
is that ITEM PB34 house and lot in oltama, urdaneta city, pangasinan located near urdaneta city, pls reply to my email.i wana buy if its good for rent purpose.tnx
Hi Sir Jay, your website is very informative. I am looking for a property in Bacoor Cavite can you help me with this? Can I have your mobile number also? Thank you and God bless
Hi Sir Jay, your website is very helpful. I am a starter in terms of real estate brokerage and I really like reading/seeing ads regarding this matter. It helps a lot esp from someone more experienced. If one of these days you can held seminars/workshops, I really appreciate if i can attend. More power to you.
Thank you Sir Jay for making http://www.foreclosurephilippines.com will surely share your advocacies as well. By the way I never knew That I could be verified through PRC’s website. Just checked may name and there it is, so nice!
FOR SALE: Townhouse in PQUE.5mins drive to airport,10-15mins to Makati & MOA.3 bdrm with 4 T&B,veranda,newly painted.wd swimming pool,clubhouse,basketball/tennis court,24/7 maximum security.4M (neg)(terms)..BEst BUY!!!…for more inquiries contact 0932-4806627..
Hi Sir Jay!! I just recently passed the Real Estate Broker’s exam and I was wondering if you can give me some tips on how I can start in this industry..I have heard a lot of people saying that I should start in project selling but that would mean I have to do it in full time. Can I apply for developers as a part time broker? What are the requirements for me to be accredited? I’m a freelance contractor by the way, so is there a way for me to do both things? Thanks in advance!!
Nice one Jay, pls. keep it going!
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