About me
Hi, I’m Jay Castillo, a Filipino real estate investor, on a journey to financial freedom. I am also an IT professional with a real estate broker’s license. Yes, I’m also a licensed real estate broker with REBL# REB-NCR20056(N)-08. I passed the November 2007 Real Estate Brokers Licensure Exam.
For now I am more focused on acquiring investment properties that generate passive income through foreclosed real estate investing. When I surpass my passive income goal before the end of 2009, I shall retire from active employment and go full time with my advocacy.
Mission
My mission is to be financially free with the ultimate purpose of helping people and my community. I advocate financial literacy with the goal of making a difference in the lives of people around me by sharing lessons learned in my journey to financial freedom, and help as much people achieve the same in the process.
Vision
Financial freedom for all!
About ForeclosurePhilippines.com
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…
My vision – financial freedom for all!
Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Click here to contact me via E-mail
Mobile phone (Call/SMS): +639178843882
Follow me in twitter: http://twitter.com/jay_castillo
Foreclosure Philippines in Facebook: Foreclosure Philippines Facebook Page
Text by Jay Castillo. Copyright © 2009 All rights reserved.
PS. If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.
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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.
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