When I started buying and selling foreclosed properties, we learned that it can get quite complicated, problematic, very costly, and full of regrets. But it doesn’t have to be.
Because of this, we decided to share what we learned to help people avoid the common problems and mistakes related to foreclosed properties in the Philippines.
We document our experiences and lessons learned from the foreclosed properties we purchased, and also the real estate transactions of our friends and clients (when we were still active real estate brokers) where we were involved as partners and/or brokers.
Jay Castillo
Hi, I’m Jay Castillo. I experienced a lot of challenges when I started with foreclosed property investing. Thanks to mentors, friends, and a lot of patience, I was able to overcome most of those challenges.
Because of real estate, I was able to quit my job from the corporate world (I was an I.T. professional back then).
The journey continues, and through this blog, I’ll share the lessons I have learned along the way.
How I got started
Here’s a short video of how I got started with investing in foreclosed properties (and my first foreclosed property purchase):
~~~
Why I got started with foreclosed real estate investing
I was an Information Technology professional before I decided to go full-time with real estate investing and internet marketing.
Way back in 2006, a year after reading the book “Rich Dad Poor Dad” by Robert Kiyosaki, I wanted 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.
Recommended reading: How I Started With Real Estate Investing (And Retired From Being An Employee)
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: https://online.prc.gov.ph/Verification
- 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
You should see something like this:
Tip: You can also use the same procedure above to verify the license of other real estate brokers!
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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.
I’m currently focusing on buying foreclosed properties for myself, which means I have stopped with brokering properties for now.
The journey continues…
Financial Literacy
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.
My Goal
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.
My 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?
Cherry Castillo
Atty. Cherry Vi M. Saldua-Castillo
Cherry handles the legal aspects and taxation of our real estate transactions. She combines her vast experience gained during her stay at SGV & Co. and expertise from more than a decade of hands-on real estate experience.
She is a Licensed Real Estate Broker (PRC Real Estate Broker License No. 3187) who placed 4th in the March 2011 Real Estate Brokers Licensure Exam. She’s also a Licensed Real Estate Appraiser (PRC Real Estate Appraiser License No. 6918) who placed 8th in the August 2015 Real Estate Appraisers Licensure Exam.
She’s also a CPA-Lawyer (Roll of Attorneys No. 55239, PRC CPA License No. 0102054).
She is the president of the Real Estate Brokers Association of the Philippines, Inc.-Las Pinas, Muntinlupa, and Paranaque Chapter (REBAP-LMP) for 2021-2022. She was awarded “Most Outstanding Chapter President” for 2021.
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 how the blog started…
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!
ForeclosurePhilippines.com runs on the self-hosted Wordpress blog platform and is powered by the Thesis Genesis Framework OceanWP Generatepress Astra wordpress theme. Our hosting is provided by Dreamhost Hostgator Siteground Kinsta WPX BigScoots and I got the domain from GoDaddy.
By the way, I was able to register foreclosurephilippines.com last April 1, 2009, although it took a day before everything got transferred successfully from foreclosedrealestate.blogspot.com.
What we do, why do we do it?
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
Text by Jay Castillo. Copyright © 2008 – 2025 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.
ForeclosurePhilippines.com is owned and operated by Jay Castillo under True North Online Marketing Services.
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 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. 🙂
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,
This is going to be a big help to many Filipinos. God bless you more.
Joshua Suarez
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,
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,
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.
matagal po ba talaga ang forclosed process ng papers kc halos 2years na
my eamail: antonio_dalisay@yahoo.com
hi jay, mind if i ask ur number for some questions especially bout this forclosed properties tnx – rachel
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,
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?
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.
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.
nice site, jay! keep it up..
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
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. 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, 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 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
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
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,
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
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, my name is Thelma. I just see your site and I am wondering if you have forfeited house and lot in Davao city, Philippines. Thank you
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.
Magandang story. very inspiring for people who want adventure to seek financial freedom.
Thanks a lot Bob!
Hi Jay,
It’s a nice website, congratulations my friend.
Regards,
lomsody
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,
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 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:
Kudos Jay!! Keep them coming..
Thanks Jun!
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. 🙂
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. 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!
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.
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.).
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!
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, 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 have some concerns regarding hiring you as my real estate agent. Please reply back on my email just to be confirmed.
Thanks.\
Norma
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.
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!
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!
nice website help a lot!im now working here in dubai UAE.im looking for a house in lot in manila. ty
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!
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!
…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 Rey, thanks for visiting!
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, jay, nice and very informative website, just dropping by…
Thanks Rey!
hi sir,
pde po bang malaman if may chance na makarefund ako kahit equity lang ang binayad ko?ng inalam ko un status knina sabe cancelled na daw un unit ko at sabe po mag request daw po ako ng ng refund at transfer but subject for approval daw ng management. eh may nakausap na po ako na pde ko transferan kso po un unit ko naibigay na daw sa iba kc po matagal na cancelled. at kun transfer daw po dapat bayaran un arrears ko. d prang balewala lang po un payment ko sa equity at ang malala manegative pa ako.may iba pa po ba options sa case ko.sana po mareplyan nyo po ako.thanks.