You are all invited to the next Think Rich Pinoy wealth seminar this Saturday, August 27, 2011, 8am to 6pm, at the L/G Skyland Plaza Bldg. Sen. Gil Puyat Avenue, Makati City. The venue is very near the Makati Post Office.

If you want to learn from Larry Gamboa and the Think Rich Pinoy Team who have been investing in foreclosed properties for years in the Philippines, then this seminar just might be what you’ve been looking for.

I attended the same seminar last August 18, 2007 (yes, that was more than 4 years ago!) and here’s your chance to attend what I often refer to as a “life changing” seminar.

What to expect

Here’s a preview of what’s in store for you in the Think Rich Pinoy Seminar on August 27, 2011…

If you have ever inspected a foreclosed property, you know that most of them need a lot of repairs...

Here’s more:

• Discover how Pinoy Investors are applying Robert Kiyosaki‘s Rich Dad Principles for Investing in Real Estate
• Find out how to become part of an exclusive Buyer’s List for hot real estate prospects
• Learn the best techniques for raising capital today
• Unlock the secret of how to analyze the numbers to ensure maximum returns w/ minimum risk
• Get In Touch With The Only Group In The Philippines Franchising People To Real Estate Success
• Learn how to overcome your biggest investing challenge in 2011

I will be one of the facilitators during the Cashflow 101 game in the afternoon. As someone who has actually invested in foreclosed properties, I would be more than happy to share my own experiences and answer your questions in relation to the Cashflow 101 game and how you can do it in real life.

Yes, it can really be done, and it really is possible to do it all in an ethical, morally upright, and legal way!

I hope to see you at the seminar!

Click here learn more about the Think Rich Pinoy seminar on August 27, 2011

Happy learning!

~~~

To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker Registration No. 3194
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines Facebook Page

Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.

Full disclosure: I am an affiliate of the Think Rich Pinoy Seminar on August 27, 2011 and may earn affiliate commissions.

You are invited to the Think Rich Pinoy Seminar this Saturday, August 27, 2011! is a post from: Foreclosure Investing Philippines

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After attending the “How to be Truly Rich Seminar” by Bo Sanchez last July 21, 2007, I saw a flyer about the Think Rich Pinoy Seminar that was to be held on the following month.

I was so excited and I hurriedly registered because my wife and I had already read the book “Think Rich Pinoy” by Larry Gamboa about 8 months earlier. We both believed that the book was like an outline on how to apply Rich Dad Poor Dad principles and do foreclosed real estate investing in the Philippine setting. I wanted to learn more!

August 18, 2007 came and it turned out to be a very stormy Saturday, but the flooded streets I encountered on my way to the seminar venue did not deter me from attending. I had a good feeling about this seminar.

I was not disappointed!

Although I was a bit late, I was still able to attend and I met Larry and the rest of the Think Rich Pinoy team.

A stormy Saturday... but the seminar room was full! That's me in the red shirt on the right listening to Larry Gamboa's talk.

I learned about the “desert experience” from Bo Sanchez and how important it is, not just for me, but also for the people around me, especially my son. I Also remember answering a questionnaire that Bo gave to all attendees. It gave an accurate picture of how financially literate I was back then, or the lack of it. Bo also talked about the true purpose of becoming rich. Awesome!

I also saw more examples of investing in real estate in the Philippines through real life real estate deals, not just from Larry, but also from the Think Rich Pinoy franchisees. I wanted to validate what I understood from the book, and I felt I was on the right track.

And then there was also this one thing that happened during the seminar that I shall never forget.

A preview of things to come?

In the afternoon session, seminar attendees played Robert Kiyosaki’s Cashflow 101 board game. I remember that I had already played the board game before, but I was not able to get out of the rat race. (You can read more about cashflow 101 here: Top 7 lessons learned from playing cashflow 101)

That changed however during the game in that fateful day more than 3 years ago. Our team got out of the rat race, in record time(we were the second team to get out), when we simply grabbed an opportunity that came our way in the game and never looked back.

It also helped that the game card we picked was for a truck driver, which meant our expenses were very low, and this really helped us get out of the rat race faster.

It was exhilarating to hear game master Ronald Cagape announce that we got out of the rat race and later on I was congratulated by Larry Gamboa himself!

I shall never forget the words Larry said to me on that day.

“Great work Jay, now you just have to do it in real life.” as he shook my hand.

Our team got out of the rat race! In this picture, we were holding our financial statement and money from the game. (Sorry I forgot my teammate's name and I also lost her number thanks to ondoy)

Was this a preview of things to come? Will I really be able to get out of the rat race for real?!

Of course, getting out of the rat race in the Cashflow 101 game is one thing, but doing it in real life is something totally different… or is it?

You see, last January 31, 2010, I got out of the rat race. But this time around, it was for real.

Yes, it really is possible!

As I look back, I truly believe It was just a matter of believing that it can really be done. Because of the seminar, I was off to a good start!

Now you know why…

Whenever I get the chance, I volunteer to help facilitate the Think Rich Pinoy Seminars. I even bring my own Cash Flow 101 board game to help make sure that there are enough boards for all to play.

I also actively promote the seminar here in Foreclosure Investing Philippines. I believe this is one seminar that I will never regret promoting.

Now I get to share my story

I was invited by Larry Gamboa to speak at the upcoming Think Rich Pinoy Seminar on May 28, 2011, and I look forward to sharing how I got out of the rat race for real.

Let me give you an idea of what I’m going to share. People are known to attend seminars and get to learn new ideas, and do nothing with them. I was also like that before.

But things happen and you just have to believe that it can be done, and you have to start taking charge of your life… and that’s exactly what I did!

I look forward to sharing my story. See you at the seminar!

Photo credits: Jomar Hilario

~~~

To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker Registration No. 3194
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines Facebook Page

Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.

Full disclosure: Nothing to disclose.

PS. Join me at the next Think Rich Pinoy Seminar by Larry Gamboa! Click here for more details.

My Think Rich Pinoy Seminar experience and how it changed my life is a post from: Foreclosure Investing Philippines

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I was supposed to write a post about the Think Rich Pinoy Seminar which I helped facilitate last December 4, 2010 but it turns out that someone already did. I received an e-mail about what happened during the seminar from Larry Gamboa himself, and I would like to share it with all of you here. Anyway, let me spice it up a bit with some of the pictures I took during the event.

Think Rich Pinoy rocks Manila!

December 4, 2010 MANILA, Philippines – People from all over Metro Manila and some even flew in from different parts of the country to join the Think Rich Pinoy Wealth Seminar at Philamlife  Center UN Avenue Manila.

The seminar started with Larry Cleto who spoke about wealth management tackling the Filipino’s inherent trait of not being comfortable in talking about money even with family. He shared that it causes needless rift when you keep mum about finances.

Alvin Barcelona, the “rocker preacher”, wowed the crowd on a different take on the theology of money by overcoming the giants – like nagging thoughts that it is hard to earn money and the absurd thought of losing our friends when we get rich -  that hinder us from being wealthy.

Many people think money is the root of all evil...

... actually, the love of money is the root of all evil, as emphasized by brother Alvin Barcelona

Larry Gamboa was in his form when he discussed about the technology of money and what financial literacy is all about. Larry also shared with attendees his 13 secret lessons for success using the experience and journey of Manny “Pacman” Pacquiao as an example.

With Larry Gamboa and TRP seminar attendees

Aside from these foundation speakers, the attendees had the privilege of hearing Vic Gamboa discuss his expertise on property management and Victoria Lucker, the staging handy woman, who spoke about her passion for designing and renovation.

Also, real estate investors  Eden April Alemania-Dayrit and Randy Manaloto gave true to life examples of deals that the participants can aspire for in the future.

Eden Dayrit during her talk

Of course, the cashflow game was the runaway winner with the crowd. The attendees felt the joy of acquiring real estate deals and the frustration of getting downsized – at least in the game.

Just one of the tables playing cashflow101...

The facilitators

More pictures of people playing cashflow 101:

(All pictures shown here and more were uploaded to FIP’s facebook page, feel free to tag yourselves and those you know who attended the seminar. You need to “like” the FIP page in order for tagging to be available.)

All in all, people were satisfied to the brim and walked away inspired. With eyes and mind open, they are ready to take the next steps to secure their financial freedom.

I suppose this should give an idea of what to expect if you were to attend the Think Rich Pinoy Wealth Seminar. If you are interested in attending the next one, it will be on February 26, 2011. You may visit the following link for more details: http://www.foreclosurephilippines.com/events/think-rich-pinoy-seminar

Happy learning!

To our success and financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines facebook page

Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.

PS. Change your mindset and start thinking like a real estate investor! Attend the Think Rich Pinoy Seminar on February 26, 2011. Click here to learn more!

PPS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Mailbox getting full? Subscribe through my RSS Feed instead!

Think Rich Pinoy rocks Manila! is a post from: Foreclosure Investing Philippines

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I first learned about the “Matthew Effect” when I read the book “Outliers: The Story of Success” by Malcolm Gladwell. In his book, Gladwell cited stories of successful people ranging from professional hockey players in Canada, to the likes of Bill Gates, and The Beatles,  as examples of how “accumulated advantage” played a big part in the success of these people. I believe the same applies to real estate investing.

“For to all those who have, more will be given, and they will have an abundance; but from those who have nothing, even what they have will be taken away.” ~ Matthew 25:29, New Revised Standard Version

In the first chapter of Outliers, the bible verse above was the very first thing that I heard (I was listening to an audio book version of Outliers), and as I listened further, it all made more sense to me.

In Outliers, Gladwell tries to convince readers that successful people neither achieved success only through sheer hard work, nor did they achieve it all by themselves, but rather with the help of advantages and opportunities from “where they came from”. Successful people used these opportunities to their advantage. In turn, these produced even more advantages and opportunities.

In essence, to those who have (made the most of advantages and opportunities that came their way), more (advantages and opportunities) will be given, thus the term “Matthew effect” in reference to the passage quoted above.

In other words, success leads to more success, and failure (or the lack of success), can sometimes lead to even more failures or continued lack of success.

Obviously, I was convinced by what Gladwell proposed in his book, which in turn has led me to believe that this also applies to real estate investing.

How the “Matthew Effect” applies to real estate investing

Have you ever wondered why some people who venture into real estate investing seem to have more success or were able to achieve it faster than others? Sometimes I also find myself asking the same question. I now have a more concrete answer, thanks to Outliers. Let me offer the following examples on how I got started with my own real estate investing career.

The “opportunity” to learn and be financially literate

What if an aspiring real estate investor just happened to learn about the importance of being financially literate and took concrete steps to manage his money properly?

I believe that pretty soon, he will have a little bit of extra money, which can eventually grow big enough for him to actually acquire his first real estate deal.

His advantage is his growing financial literacy.

His opportunity that led to this advantage is the opportunity to learn about the importance of managing money and his personal finances.

That could have come from a book, a seminar, or even from a friend, as the case may be.

In contrast, someone who wants to be financially free, but falters in managing his personal finances, may find it very hard to move forward. He never gets past the question:

”Where do I get money to invest in real estate, I can barely manage to get through a month and I’m living paycheck to paycheck?!”

This question lingers in his mind even though he is moving up the corporate ladder.

His disadvantage is he does not know that more money is not the solution, managing money properly is.

Actually, the person I described above was me. The opportunity that I was missing then was the chance to learn about financial literacy, and the proper way to manage money.

I had nothing (in terms of financial literacy), and even what I had (my monthly paycheck in this example) was taken away, or it was mostly gone before the next payday.

I’m just glad the opportunity to learn about financial literacy eventually came through a friend, who introduced me to the book “Rich Dad Poor Dad” by Robert Kiyosaki.

After I read the book, I was hooked, and I looked for more knowledge about financial literacy. This gave a jump-start for my quest for financial freedom.

I truly believe that financial literacy is a big advantage when you want to go into real estate investing.

In fact, I also believe that it is required!

How would one be able to manage the financial aspect of having investment properties, if one cannot even manage his own finances?!

The opportunity to be financially literate is available for everyone, but I guess very few people actually take time to learn about it, and apply it in real life.

The “opportunity” to learn how real estate investing can be done in the Philippine setting

This time around, the “opportunity” began with an “incident” that happened last December 31, 2006.

I was in a drugstore and I was about to pay for my medicines when my wife called me on my cellphone because I had to move my car. I hurriedly went back to the car and as I sat on the driver’s seat, a soft cracking sound came from my pant’s rear pocket.

Apparently, I had put my cellphone there instead of my wallet. I had just destroyed my phone’s LCD.

Anyway, because of that incident, I decided to go to Nokia Care at Greenbelt 1 to have my phone fixed. After I got a quotation and a referral to another Nokia authorized service center who might have parts readily available, we went to National Bookstore which was nearby.

As I entered, the first book that got my attention was “Think Rich Pinoy” by Larry Gamboa.

Larry’s book was an eye opener, it showed how real estate investing can be done in the Philippine setting. I believe this was a big advantage and opportunity.

Reading the book eventually led to my attending Bo Sanchez’ “How to be Truly Rich seminar“, from where I learned that Larry also had Think Rich Pinoy Seminars which I also attended.

This also made me look for more seminars about real estate and I found Urban Institute’s Comprehensive Real Estate Seminar And Review (CRESAR) for the November 2007 Real Estate Brokers licensure exam which I also attended.

Although I attended primarily to learn more about real estate in the Philippines, I also took and passed the licensure exam and became a licensed real estate broker.

I also became a member of REBAP Marikina and through another member, I learned about an auction during the first Philippine Real Estate Festival way back in 2008. I participated in that auction and it was the first time I made a winning bid for a foreclosed property. As they say, the rest is history.

I would like to believe what happened to me was a series of “opportunities” which I grabbed, that helped me get started with real estate investing.

To have more and be given more, or have the little I had be taken away

I started with virtually nothing in terms of any know-how when it comes to investing in real estate, and instead of thinking that it was too hard and cannot be done, I decided to look the other way and move forward.

When I decided to become a real estate investor and began to have more knowledge about real estate investing, I was presented with more  opportunities, not just to learn, but to actually have the means to do it.

In contrast, if I went the other way, the little that I had would have been taken away, not by anyone else, but by myself. I would have taken these away, had I decided to give up.

Up next in Part 2 of this series

In the next part of this series, I’ll share more examples of opportunities that anyone can grab that can help get them started with real estate investing, and how this continues and becomes a series of opportunities that become “accumulated advantages”.

To our success and financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines facebook page

Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

PS. New visitor? Click here to get started with learning more about foreclosure investing in the Philippines.

PPS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Mailbox getting full? Subscribe through my RSS Feed instead!

The “Matthew Effect” and how it applies to real estate investing (Part 1) is a post from: Foreclosure Investing Philippines

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It depends! Obviously not all foreclosed properties are good deals.

It’s common sense that not all properties are good investments, foreclosed or otherwise, you don’t need to be a real estate investing guru to know this. However, based on the number of times I’ve either heard people ask or get asked this very same question, I feel that a significant number of people out there either have a misconception about foreclosed properties, or they are simply clueless.

Let me make it clear, NOT all foreclosed properties are good deals, and it would be foolish to think all of them are.

Don’t ever expect all foreclosed properties to be good deals because if you do, you are setting yourself up for frustration, disappointment, and failure, especially when you start finding foreclosed properties that turn out to be horrible deals. More on this later.

“Hey Jay, are you saying foreclosed properties are no good?”, you might be asking.

As I said, it depends. No, I’m not discouraging you, I’m just trying to help with managing expectations. Admittedly there are more bad deals out there than good deals, but there are still more than enough hidden gems out there that can make worthy real estate investments, and the key is finding them. One needs to look at a lot, and when I say a lot, I mean a lot of properties, to find those hidden gems, after all, investing in foreclosed properties is a numbers game.

Investing in foreclosed properties is a numbers game

I’ve said it before and I’ll say it again, investing in foreclosed properties is a numbers game.

The greater the number of foreclosed properties you look at, the greater the chance that you will find those good enough deals, and even some great deals. However, you will find a lot of bad deals in the process, but that’s just part of the game. It’s okay to find horrible deals, as long as you find out before you bought the property, and move on.

Keep in mind that one cannot just give up after looking at a few properties. I often hear people get frustrated with foreclosed properties after looking at just one or a couple of properties, or even with just one listing that really did not have many properties to begin with. And then they give up and say things like “I’ll never find any good deals…” or “The numbers will never work…” or “This is too hard…” or “I’m just wasting my time…”. Sorry, nobody said foreclosed real estate investing is easy! It may sound simple, but it isn’t easy.

The 100-10-3-1 Rule

You basically need to look at a significant number of properties to find those properties that are worth a second look.

How many would that be? The general recommendation would be to find about 100 properties worth a second look, after doing initial shortlisting. Out of those 100 properties, you will probably find 10 worth inspecting. Out of those 10 worth inspecting, you might find 3 properties that are worth giving offers for or bidding for, if they were for sale through a public auction. Out of the 3, you may end up buying 1.

That’s a brief overview of the 100-10-3-1 rule. I’ve read many variants of this rule from books and also from some of my mentors but they are basically the same. You analyze 100 properties, inspect 10, submit offers on 3, and end up buying 1. These are just average numbers, but you’d be surprised how accurate this average can be in real life. Been there, done that!

Other numbers to consider

Of course there are other numbers to consider when applying the 100-10-3-1 rule and when “doing the numbers”.

Numbers like After Repair Value (ARV), projected repair costs, target profit, Maximum Allowable Offer(MAO), Cash on Cash Return (CCR), Return-On-Investment or Return Of Investment(ROI), Net Operation Income(NOI), Cashflow, etc., to name a few, also need to be considered. For each of these numbers, you as the real estate investor will ultimately have to decide what is acceptable for you. These numbers will determine if a foreclosed property is a good deal or not.

If this sounds too daunting and tedious for you, I would be the first to say that this might not be for you. But there’s no harm in trying right?! Imagine what could happen if you consistently did this until doing the numbers became a habit and you actually became good at it!

No, I won’t have time to explain all of these numbers now, but one by one, they will be covered here soon.

Sometimes it’s all in the mind

I still remember during the early part of 2008 when I found myself unable to find any good deals in any of the listings of foreclosed properties that came my way.

I was still recovering from feelings of being betrayed after how Dinna Revilla, a former real estate mentor, got arrested and became a “fallen real estate guru”, and in disgust of what she allegedly did to those who trusted her(as far as I know, the case is still pending), I just decided to invest in mutual funds instead of real estate.

My respite from real estate investing however was short-lived because I eventually met another mentor, Doctor Jon Abaquin, who was also featured in Larry Gamboa’s book “Think Rich Pinoy”(see page 155), who later challenged me and a couple of my friends to each buy a property within 90 days.

Lo and behold, from the same listings lying on the table in my bedroom where I could not find any suitable properties, all of a sudden I was able to pinpoint at least 3 very promising foreclosed properties from 3 banks and I ended up submitting an offer for the most promising one. Later, that one offer got accepted. That experience opened my eyes and from that point onwards, I truly believed that there were good, and great deals out there, I just had to look a little bit harder!

But what if I do find a good deal but have no money to invest?

My take on this: Financial literacy is a prerequisite to real estate investing.  Being financially literate leads to proper management of one’s money and finances, which should then help one save enough capital for investing. When that right deal comes, you will be ready. If you think that would take too long, then another option would be to find investors for your deal, although personally, I would recommend that beginning investors do it by themselves, especially on the first few deals.

I believe you should build your track record with your own money first before risking other investors’ money. If you can’t even handle your own money, how do you expect to be able to handle the money of investors?! Sorry if I may sound harsh, but hey, this is just my opinion.

So how many properties have you looked at?

Have you looked at 1, 2, 3… and have given up already? Are you looking hard enough?

Remember, the more you look and do the numbers, the greater the chance that you’ll find that real estate investment for you.

Next time someone asks you, “Are foreclosed properties good deals?”

I’m pretty sure most of you out there will eventually encounter this question once you decide to invest in foreclosed properties and people learn what you do. Well, I hope to help save you the trouble of coming up with your own answer, which can turn out to be a very long one, just like mine. If you want, you can just send them over here, and I hope my answer above will be of help.

Next question please!

Good luck and happy investing!

To our success and financial freedom!

Jay Castillo

Real Estate Investor

Real Estate Broker License #: 20056

Blog: http://www.foreclosurephilippines.com

Follow me in Twitter:http://twitter.com/jay_castillo

Find us in Facebook:Foreclosure Philippines facebook page

Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

PS. Are you a new visitor? Click here NOW to start learning more about foreclosure investing in the Philippines

PPS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Inbox getting full? Subscribe through my RSS Feed instead!

Are foreclosed properties good deals? is a post from: Foreclosure Investing Philippines

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A guest post by Sha Nacino

For the past few weeks, I have been on a six-day work week. This set-up really drained my energy. Most importantly, it made it impossible for me to go home to our province, a 10-hour bus ride from Manila. I miss my family so much! How I wish I could go home and see my family as often as I want.

Last Saturday and Sunday, I had no work – a very rare chance! I wanted to go home to our province but I was already so tired, physically and emotionally. I just decided to have a laidback weekend where I could relax, sleep, eat, read, think, and write.

Image by Sha_Nacino

As I was reflecting, I noticed that there are so many interesting activities outside the confines of the corporate world. There’s toastmasters, a public speaking club that will help you develop your communication and leadership skills. There’s swimming, which is a good way to beat the heat. There’s travelling. Photography. Badminton. Running. Jogging. Volunteer work. And many more!

I engage in all these activities and more! You could just imagine how physically taxing that was.  Not only that, some of these interests could be expensive too!

I couldn’t juggle everything!

I want to do everything! Yet, I don’t have all the time and money to pursue everything at the same time. I have to cut down on some of these activities. Guess where most of my time goes? Yes, to my work because I spend at least 11 hours a day 5 days a week in the office (inclusive of travel time).

Does my work make me happy? Let’s just say that I love a lot of things about my employer – the culture, the people, the activities, its corporate social responsibility projects, its personality development programs, and interest clubs.

But if money were not an issue, I would definitely be somewhere else. Yet, I cannot resign just yet because my work is my bread and butter.

I need more time and money!

I want to have more time and more money at the same time.  I want to have as much time as I want to spend with my family and loved ones. I want to have more time to do volunteer work. I want to have more money to help our less fortunate countrymen. And I also want to have more money so I can do the things I want to do.

If I work overtime, I could increase my money but this also means less time for my family and other important things in life. How could I have more of both time and money?

What my mentors taught me

My mindset was limited because I knew only of one way to earn money – that was through my job in the corporate world. If I wanted to have more money, I needed to work overtime.  I need to work hard for money!

Then I met my mentor Robert Kiyosaki through his book “Rich Dad Poor Dad”. I was shocked when he said that I could earn as much as I want even without working! He termed this as passive income. He also advised me that instead of working for money, I could make money work for me.

Wow! I felt so liberated! If I could learn the art of earning passive income and of making money work for me, then I could have more time to spend with the persons that matter to me most and I could also have more money to use to help others.

When the student is ready, the mentor will come

Last August 2009, I attended the Think Rich Pinoy Seminar of Larry Gamboa, author of “Think Rich Pinoy”, “Grow Rich Pinoy”, and co-author of Trace Trajano in “Think Rich Quick”. This got me really interested in real estate investing.

I guess I was ready to learn more about real estate because a few months back, I met my real estate mentor Trace Trajano. Trace taught me and my team how to invest in real estate with little or no money down. Trace conducted his first ever Think Rich Quick seminar in March 27, 2010. After learning from Trace’s teachings, my team was able to sell a condominium unit in just six days! Trace is really a fantastic mentor!

Dedicated to your success,

Sha Nacino

Sha Nacino is Trace Trajano’s co-author for the book “Think Rich, Yuppies!”. Sha was also a former teammate of mine in the now defunct RYP Realty team.

Added on September 20, 2011:

Sha Nacino NOT connected with Trace Trajano

by Sha Nacino

This is to inform everyone that I am NOT anymore connected with Mr. Trace Trajano. I do not endorse him or any of his seminars and programs. I also do not intend to do any business with him moving forward.

We co-authored the book Think Rich, Yuppies which was published earlier this year. The book is our last project together and after the initial printed copies of the book are sold, the book Think Rich Yuppies will no longer be printed and distributed.

I have moved on. At present, I am writing books on personal financial management. I am also committed to continue writing many more books on financial management and other topics. If you have any comments, please email happysha.ph@gmail.com.

Source: http://seminarphilippines.com/2011/09/sha-nacino-not-connected-with-trace-trajano/

—

Jay’s thoughts

In a nutshell, Sha just wants to be financially free, who doesn’t?! I totally understand where she is coming from as I used to be as busy as her, if not even busier. I am happy for Sha because she decided to take action and make concrete steps to be financially free.

Good luck Sha and to everyone on the same journey!

Added on September 20, 2011 - I’m also happy to see that you have also moved on, just like me, as mentioned here.

To our success and financial freedom!

Jay Castillo

Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Follow me in twitter:http://twitter.com/jay_castillo
Find us in Facebook:Foreclosure Philippines facebook page

Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

PS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Inbox getting full? Subscribe through my RSS Feed instead!

A busy yuppie that wants to have more time and money is a post from: Foreclosure Investing Philippines

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I got an e-mail reminder from Larry Gamboa’s mailing list about the Think Rich Pinoy Seminar which happens on May 15, 2010. To get more details about the seminar, please read my previous post which you can find here.  Do keep in mind that the early bird fee is no longer applicable. Anyway, I would like to share Larry’s e-mail below.

———- Forwarded message ———-

From: Larry Gamboa <thinkrichpinoy@gmail.com>

Date: Sat, May 8, 2010 at 3:37 PM

Subject: What To Look For In A Rent-To-Own Deal

To: Jay Castillo

Next Saturday. May 15 is the next Think Rich Pinoy Wealth Seminar.

Go here to reserve a seat.

A few days ago, I sent you a video called the “Anatomy of a Deal” where Eden walks you through her latest Rent-To-Own property. See video below:

Now the audio was a bit hard to hear so let me point two highlights of the video.

First, when deciding to buy a property, look at the neighborhood.

Who lives in there?

Are there kids playing?

Are there cars parked?

Is it a gated subdivision?

Now, why are these questions important?

Well, they’re your target market. The people who rent there are the ones most likely to BUY from you.

Now in case they don’t buy, the next ones who would be most likely to buy are people LIKE them.

This exercise is simply called Market Research.

You have to know your market before you go in a deal.

Second highlight of the video is the property itself.

What is the condition of the property?

Are there leaks in the ceiling?

Are there termites?

What is the flooring?

Are there horizontal cracks in the foundation?

Are the tiles due for replacement?

These questions then help you gauge the cost of repairs. The cost of repairs will directly affect your bottom line.

In general, people look for answers but the secret in Think Rich Pinoy is to ask the right questions. The right questions lead to the right answers.

The right questions lead to the your first (or next) Real Estate deal.

If you have questions for me or my guests, feel free to ask them on Saturday,

May 15, 2010. To reserve a seat, click here.

Warmest Regards,

Larry Gamboa

P.S. If you have a property in mind, bring pictures and details on Saturday and let’s talk about it. Get your seat here.

Happy learning!

To our success and financial freedom!

Jay Castillo

Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Mobile phone (Call/SMS): +639178843882
Follow me in twitter:http://twitter.com/jay_castillo
Like this in Facebook:Foreclosure Philippines facebook page

Text by Jay Castillo. Copyright © 2010 All rights reserved.

PS. Are you a new visitor? Click here NOW to start learning more about foreclosure investing in the Philippines

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Reminder: May 15, 2010 is the next Think Rich Pinoy Wealth Seminar! is a post from: Foreclosure Investing Philippines

“If only it were this easy in real life!” , a Think Rich Pinoy Seminar attendee exclaimed after buying his fifth property while playing Robert Kiyosaki‘s Cashflow 101 game.

I heard him say this as I helped facilitate the Cashflow 101 game at their table during the afternoon session of the Think Rich Pinoy seminar last February 27, 2010.

If you have played Cashflow 101, you would know that finding opportunities is as easy as picking an opportunity card when you land on an opportunity space during your turn. (Haven’t played Cashflow 101 yet? Learn more about the Cashflow 101 game by reading this article: Top 7 lessons learned from playing Rich Dad’s Cashflow 101 game)

In real life however, how do you find those “opportunities”?

It’s obvious that I get my opportunities from listings of foreclosed properties.

But how does one convert listings of foreclosed properties like this:

Into opportunities like these:

Let us first dissect an opportunity card.

If you will look closely at the opportunity cards above, aside from a brief description of the property, the projected ROI, Cost, Mortgage, Downpayment, and Cash flow are already given.

In real life, the only numbers you will often find on listings of foreclosed properties are the Cost (or the selling price or minimum bid price), Downpayment, Interest Rates, and the maximum loan term. The mortgage amount is usually the Cost less the Downpayment.  You will have to come up with estimates or calculate for the projected ROI, and Cash flow. Without these numbers, you will have no objective way of telling if a foreclosed property has a good potential to be an income generating asset.

Return On Investment or ROI

According to the Cashflow 101 game rules, The ROI or Return On Investment on the opportunity cards can be calculated as follows

monthly cashflow x 12 months

ROI = ——————————————————

Downpayment

In real life, we can also get the ROI using the same formula above but we must first determine the projected monthly cashflow.

Determining Cash flow

An overly simplified way of determining  the monthly cash flow would be to subtract the monthly amortizations from the monthly rental income. We therefore need to determine these two numbers first.

How to determine the monthly rentals

You can get the monthly rental income by asking around the same location of the target property and get rental rates for comparable or very similar properties. This would even be easier for condo units as you just have to check for the rental rates for units in the same building. This can also be done online by checking advertisements of rental properties in the same building or area.

For more information on how to check for rental rates, read this article: How I estimate market values of foreclosed properties

How to determine monthly amortizations

Monthly amortizations can be easily calculated using amortization calculators since we know the loan amount, interest rate, and loan term. You can use our very own amortization calculator which can be found here.

Putting it all together

Let’s use the following foreclosed property from the sample listing above and see if we can turn it into a real “opportunity”.

Let us also use the following assumptions*:

• Minimum downpayment required is 20%
• Balance is payable up to 15 years
• Interest rate is 12% interest p.a.

*Remember that these are just assumptions and are for illustrative purposes only. One should get the actual values by calling the bank.

Step 1: Determine rental rates

For the location of sample property above, I saw an ad for a smaller sized condo in the same building with an advertised rent at Php25,000 per month. I’m not entirely sure if the rental rate on the ad I saw was  not overpriced  but it will have to do for now. It  would really be a big help if you focused in a particular area and became very familiar with rental rates, etc.

Step 2: Determine the monthly amortization

Using our mortgage calculator, the monthly amortization for a property with a minimum bid price of Php2,208,800.00 with a downpayment of 20% or Php441,760.00, and with the balance payable in 15 years at 12% interest p.a would be Php21,207.44 per month, as seen below.

Step 3: Determine the monthly cash flow

The monthly cash flow would be equal to the monthly rent less the monthly amortization.

Monthly Cash flow = Php25,000 – Php21,207.44

= Php3,792.56/month

Step 4: Determine the ROI

Let us use the formula above for ROI:

Monthly Cashflow x 12 months

ROI = ——————————————————-

Downpayment

Php3,792.56/month x 12 months

=  ——————————————————-

Php441,760.00

= 0.10302   or  10.302%

An investment “opportunity” for real

Based on the resulting numbers above, our opportunity card for our sample foreclosed property should look something like this:

You found a bank foreclosed condominium unit in Makati!

10.30% ROI, may sell for ????

Cost: Php2,208,800   Mortgage: Php1,767,040

Downpayment: 20%     Cash flow: Php3,792.56

Points to remember

It really is possible to get opportunities in real life, just like the opportunity cards in Cashflow 101. All you need is just a little know-how in “doing the numbers“.

The “opportunity” we got above is an overly simplified example as we also need to consider property management, maintenance reserves, real property taxes, and other expenses when calculating for cashflow.

As to whether the “opportunity” we got above is a good deal or not still depends on each individual real estate investor’s preference or target ROI. Is 10% a good enough ROI for you?

The ROI can still drastically change when some numbers change and this can turn a mediocre deal into a great deal or  it can also transform a good deal into a bad one.

What if the exit strategy was changed to  rent-to-own  instead of rental and  the monthly  rent-to-own income was Php28,000/month? Or what if the monthly dues plus other incidental expenses turned out to be Php5,000 per month and may thus result in a negative cash flow? I suggest you run the numbers and check the results.

Remember, the numbers don’t lie.

So the next time you come across a listing of foreclosed properties, just do the numbers! The more  consistent you are with doing the numbers, the greater the chances that you may just find that “opportunity” you have been looking for!

Happy investing!

To our financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Click here to contact me via E-mail
Follow me in twitter:http://twitter.com/jay_castillo
Become a Fan in Facebook:Foreclosure Philippines fan page

Text by Jay Castillo. Copyright © 2010 All rights reserved.

PS. Are you a new visitor? Click here NOW to start learning more about foreclosure investing in the Philippines.

How to turn listings of foreclosed properties into opportunities is a post from: Foreclosure Investing Philippines

Incoming search terms:

*Update dated June 2, 2011 – After much thought, I have decided to leave Trace Trajano‘s local coaching program and my role as one of the local coaches. I would also like to inform everyone that I am not part of Trace’s other programs.

For those who don’t know, I was once a student of Trace, and I was also part of the team that won his first apprentice challenge, although I decided to leave the RYP team last September 2010. I became one of the local coaches as part of the now defunct Terrific Trio University. I also helped promote his seminars in the past including TRQ 1.0, TRQ 2.0, TRQ Cebu, his quick cash seminars, and the last one was TRQ 3.0.

It has also come to my attention that some materials that Trace used in marketing some of his seminars might make it appear that I am one of his partners. I would like to make it clear that I am not a business partner of Trace Trajano.

Things did not turn out as planned, but lessons have been learned, and I feel it is time for me to move on. ~ end of update ~

Are you broke, with no rich friends…

and no banks will lend you money?

You… yes, even you can invest in real estate!

I am very excited to announce that Trace Trajano is coming to Manila and will give the first ever Think Rich Quick Seminar on March 27, 2010. If you have not read his book “Think Rich Quick”, you should. It has changed thousands of people’s lives and it can change yours.

What is the Think Rich Quick Seminar and book about?

People have the misconception that you need a lot of capital to get started in real estate (up to a certain extent, that includes me because I advocate being financially literate enough to be able to at least raise the 10% or 20% for the downpayment). “NOT true”, Trace says and he has a right to say this after having acquired and sold over $13 Million worth of investment properties, mostly with no money down. That’s P1 Billion worth of properties acquired without any money down.

Trace continues, “You can also get started investing in real estate without borrowing money from banks.” For example, in his book, he mentioned a deal he did by taking over the mortgage payments and then he turned around and sold that property via rent to own. It’s an amazing strategy and I believe you should learn about it.

Lastly, Trace dispels the misconception you have to wait years before you can make money in real estate. Trace says, “You can make money in real estate in a few months, a few weeks, sometimes, even in a few days.”

Trace says, “But rather than boast about what I have done, I’ll just show you what my students have done…specially my students in the Philippines. I want to show you that this can be done anywhere, even in the Philippines.” Here are some of Trace’s students and what they have done (NOTE: they are all based in the Philippines!):

Thea Santos – made P260,000 selling a house in just 2 weeks using a strategy called Wholesaling. She sold the property quickly using one of Trace’s marketing strategy.

Gia Garcia – she bought a condo using other people’s money, she fixed it, then sold it. This is a strategy called Retailing. Gia said, “Trace’s advice on how to rehab the property saved me a lot of money!”

Julius Bernard Lopez – made over P300,000 by “syndicating” a deal. He found an investor who managed the renovation…he found another investor to put up the money and the only thing he did is find the deal. Here’s the thing… Julius did this AFTER reading the book “Think Rich – Quick”. Julius is not even officially Trace’s student or franchisee!

Eden April Alemania – she became a millionaire at age 26 (she’s now 27). This is after just 9 months after hearing Trace speak. Watch her video below:

Jessie Raquel and Apple Raquel – Jessie is an OFW struggling with a 10-door apartment he bought as it was only 30% occupied. At a seminar that Trace gave to the franchisees of the Think Rich Pinoy Millionaire Network, he gave Jessie a marketing plan. He implemented this plan and in just 2 weeks, he got his 10-door apartment 100% occupied. As a result of this, Jessie and Apple are now real estate millionaires. Trace even helped them raise capital from private lenders (not from banks!). Here’s the proof:

Ronald Cagape and Weng Cagape – also a husband-and-wife real estate team and now millionaires said, “Trace’s negotiation advice on one deal we were working on saved us P400,000!”

The list goes on and on.

What about you? Do you want your name to be included amongst Trace’s success stories? Then click “I want to be Trace’s next success story” to register for the seminar…

Yes, I want to be Trace’s next success story!

You might be asking, “SO how much will this seminar cost me?” Let me you ask you this…

“What amount of money will you pay to learn how to make millions in real estate?”

I don’t know the tuition fee you need to pay to become a good doctor or nurse or have a high paying job. Say the tuition fee is P50,000 per semester – so we have 2 semesters per year and then multiply that by 4 years…or P400,000. That’s a lot of money but it’s worth it because you can recover that money in just 1 year working as a nurse abroad. Right?

Here’s the good news: once you learn what Trace will reveal during this seminar, you can literally know how to develop a million-peso per year real estate business right here in the Philippines. Jessie Raquel for instance made P500,000 on just one deal. Eden April Alemania routinely makes P200,000 to P400,000 per deal.

The even better news is that you will not spend P400,000…not even P40,000…or even P4,000 for your tuition fee. Trace though can easily charge that amount or more. In fact, one student paid Trace P11,500 to have lunch with him for one hour. That’s right: one hour with Trace can easily set you back by more than P10,000. But at this seminar, you get to spend the entire day with him for less than half that amount.

Alright – I want to make millions…so sign me UP NOW.

In fact, it gets even better. Trace told me that he wants to give people a lot more value than what they’re paying. Trace is giving you not just one seminar but a series of online seminars (one every month – January, February, March and a follow up online seminar in May) as well.

In fact, the January webinar (online seminar) is already over and you might miss out on the February webinar as well (Trace told me though that if you register on or before February 14, he will give you the recording of the February webinar absolutely free!). The February seminar is about having “Millionaire Systems”.

I want the February webinar so let me in!

One more thing… this seminar is more of a workshop. You will learn how to talk to banks (and learn how to buy foreclosed properties from them), sellers, buyers, renters and lenders (or potential money partners) using scripts that Trace and his students used successfully in negotiating a lot of deals.

I want to attend the workshop!

Lastly, Trace told me he wants to limit the attendance to this seminar. Why? He wants to interact with the audience more and he wants to get to know you. He told me “I really don’t make money when you buy my book or even attend my seminar. I make the real money when I get the student to partner with me.” Shhhh….don’t let Trace know that I told you that. It’s supposed to be a secret. At the end of the seminar, he will announce a way for you to apprentice under him and even become his business partner as he puts up a real estate company in the Philippines.

I want to become Trace’s apprentice!

Sorry I digressed… Trace wants to limit attendance to only 100 people – 43 have already registered so there are only 57 slots left. The Think Rich Quick Seminar is being promoted by seminar promoters, wealth coaches, and Trace’s students and franchisees. Literally, this sales letter is going to be read by over 100,000 people and so you don’t want to be left out.

Let me in! I don’t want to be left out.

Just realize the price of admission (which is only $55 or its peso equivalent) is a small fee to pay to know powerful real estate techniques that will put money in your pocket. The seminar is also a good way to become Trace’s apprentice and partner. Take advantage of this opportunity NOW by clicking HERE!

—

Personally I look forward to learning more about wholesaling and how to invest in real estate without borrowing money from banks. I hope to see you at the seminar!

—

To our financial freedom!

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
Become a Fan in Facebook:Foreclosure Philippines fan page

Text by Jay Castillo. Copyright © 2010 All rights reserved.

P.S. You need to sign up before February 14 in order to get access to the online seminar (webinar) for February.

P.P.S. Right now there are 43 registered attendees so there are only 57 slots left. Register NOW to get IN. Once all the slots are filled, Trace will close this and you might need to wait 1 year to attend the next one! I don’t want to wait a year so SIGN me up NOW.

*Update – Other payment options:

1) Pay through Western Union. Here are the details:

Send $55 to TRACE through Western Union.
complete name: Trace Trajano
address: 9647 Cedar Knoll Dr., Mason OH 45040, USA

Email him here – moneyyoda@gmail.com and send him the Western Union tracking ID or number.

2) If you don’t have a paypal or credit card, you can also deposit your payment ($55 or peso equivalent) in this BPI account:
Account Name: Kristine Ann E. Aganon
Bank: Bank of the Philippine Islands, Tandang Sora Branch
Account Type: Current
Account No: 2385-0616-28

You are invited to the first ever Think Rich Quick seminar on March 27, 2010 is a post from: Foreclosure Investing Philippines

I recently answered an e-mailed question from a reader of Foreclosure Philippines who was also an attendee of the Think Rich Pinoy seminar held last November 21, 2009, where I was a guest speaker. Actually, our featured reader sent her e-mail last November 25, 2009, a few days after the Think Rich Pinoy seminar, but I was only able to answer her e-mail a few days ago… me bad!

Anyway, I noticed that I often receive very similar questions not only from other readers but also from people I meet who find out that I invest in foreclosed properties which is why I believe that it would be a good idea to feature it here, please continue reading below.

Questions and Actions

I intend to share my answers and some actionable items, as inspired by the book “The 4-Hour Work Week” by Tim Ferris, one of the books that inspired me to take a leap of faith (more about this in a future post). Tim’s book has a number of “Questions and Actions” at the end of each chapter.

Beginning with this post, I intend to feature questions from readers from time to time as a way of helping real estate investors in the Philippines.

Of course I will not disclose our reader’s name and e-mail address to protect her privacy and her questions are as follows:

“Hi Jay. I am currently looking for properties and try real estate. (I was an attendee from the Nov. 21, 2009 TRP seminar.) However, most banks have limits like income if you are an employee you must have 25k + salary. I only have 12K. Or must have a steady business. Or must be 2 years or more in a company. How can I start early with all these limitations? How can I apply for a loan and thus finance my first deal? Thank you very much…” – Miss MJ

Thank you for the excellent question Miss MJ. Let me try to answer your questions to the best of my knowledge and also share some of my thoughts as follows.

Your capacity to pay

Assuming that Php12,000 is your take home pay, let us first try to determine what is the maximum loan amount you can get based on your capacity to pay. I believe most banks and lending institutions look at a person’s net disposable income or NDI to determine a persons capacity to pay and the corresponding maximum housing loan they can get.

The rule of thumb is the monthly amortization should be no higher than 40% of the NDI. In your case, If you have no existing obligations like loans, etc, and assuming Php12,000 is already your take home pay after taxes and monthly contributions like SSS, etc., then 40% of your monthly salary of Php12, 000/mo would be the maximum monthly amortization that can be allowed for you, which is Php4,800.

Foreclosed properties you can afford

Using the payment terms from Unionbank as an example, Php4,800 would be more than enough as the monthly amortization for a foreclosed property priced at Php350,000 with a downpayment of 10% or 35K, and the balance financed with an interest of 15% per annum for 15 years. With these terms, the resulting monthly amortization would be Php4,408.69, well within your maximum of Php4,800/month.

Obviously, there are other banks and lending institutions that offer lower interest rates and longer terms so you can definitely still get your first deal through bank financing. That is assuming you can come up with the minimum downpayment required.

How can I come up with the downpayment?

Yes, you will still need to save for the downpayment. I suggest that you start managing your money NOW! I believe learning how to manage money is a prerequisite to starting to invest in foreclosed properties. I would like to reiterate my belief that anyone who wants to get out of the rat race really needs to learn how to manage money and finances and this remains true whether you intend to invest in foreclosed properties or other investments.

Moving forward, let’s assume you manage to consistently save 15% of your salary each month or Php1,800, you will be able to save enough for the downpayment in less than 20 months. If you think 20 months is long, remember the requirement you mentioned that you must be working for a company 2 years or more in order for you to be able to qualify for a housing loan?

Don’t bite off more than you can chew!

You might be asking why you should limit yourself to foreclosed properties worth Php350,000 and below? Well, I believe there is wisdom in starting small so that in case you do make mistakes (we all do!), you also make small mistakes and failures from which you can easily recover.

You still learn from the entire process but you start gaining knowledge and experience that would help you to get ready to take on bigger deals and bigger success.

What about Other People’s Money or OPM?

I know the subject of OPM is always in the mind in beginning real estate investors but I believe that if you are just starting with your real estate investing career, you should not even consider using other people’s money unless you are already able to prove your worth in managing your own.

How the heck would you be able to make good use of other people’s money if you cannot even manage your own?!

Your own money might be small but it should be good enough for one to start. As mentioned in Luke 16:10(NIV), “Whoever can be trusted with very little can also be trusted with much…”.  Makes sense right?!

Investing in foreclosed properties is a numbers game

Obviously, it may take some time for a lot of people to save enough money to start investing. I know I did as it took me 3 years before I was able to buy my first property. But that should never stop anyone from consistently analyzing properties to find deals worth pursuing.

You do not need any money to analyze deals as you are investing your time. So go ahead, start analyzing deals NOW, even if you still have no money to invest. Save money while  consistently analyzing properties and make the most of your precious time!

The more foreclosed properties you analyze, the sooner you will begin to see those deals worth pursuing. I’ve read a number of books about real estate investing that mention that on the average, you may have to analyze a hundred properties to end up buying one and I for one believe that these numbers are accurate. The key is to keep on analyzing as much foreclosed properties as you can.

Don’t listen to the little voice in your head that may say “These numbers just won’t work… foreclosed properties are too expensive… I will never find one that is worth investing in… ” after looking at just a few listings or just a few properties. Remember, that’s the voice of the loser inside of you.

Just keep it up and you will eventually begin to see those great deals that you were unable to see before. When that time comes, I have a feeling you will already have the money to invest.

Happy investing!

—

To our financial freedom!

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
Become a Fan in Facebook:Foreclosure Philippines fan 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.

PPS. If you feel that anyone else you know might benefit from this post, please do share this to them and don’t forget 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.

Reader Q and A #1: How can I apply for a loan and thus finance my first deal? is a post from: Foreclosure Investing Philippines