Professional Documents
Culture Documents
By Allan Miranda
A well informed investor is a well protected investor
An OFW Investor & Finance Advocate A Financial Savvy Overseas Filipino, click here for details
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What we gonna focus today is the hot market of Pre-Selling Condo. Lets dig deep.. As a savvy Pinoy investor, common sense always says..do a Investigating before Investing approach.. Lets find out if this type of Real Estate really brings big buck to your hard earned money as an OFW while working here in Middle East.
This doesnt include yet giant billboards in metropolis area in the Philippines, big name celebrity endorsers and ads in various newspapers & Buy&Sell magazines in local stores in Philippines. Many international satellite offices are also established by Real estate companies to capture the OFW markets here there and everywhere.
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Latest in Google Trend, says Pinoys are in and looking for this pre-selling market. Which suddenly jump recently in mid of 2011. It ranges from 60-100 interest per month.
Just a note. Im not an anti-real estate guy as Im sounding it may be I owned as well real estate back in the Philippines, either as future residence which I will called home and for experimental investment strategy which I will call cash flow generating property but not the pre-selling type
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3. Choose the best unit and best view Generally, in the first 6-9months, marami available units na pagpipiliin.. The advantage of this is that you can choose a unit according to your preferences like if its facing north, facing the morning sun or facing the amenities. Or kung mahilig ka sa feng shui choose units with lucky numbers like 8 and 7. 4. Fast & the furious plus bigger yield on your investment Low initial investments (ex.36mos easy payment), long term loan and potentially 40% increase of your property.. Sweet deal#2, di ba?
na, di ba??
You contact an agent and discuss yung presentation, love the property and seems a great investment, consult your friends here in Dubai and they also love your investment choice. You prepare the required documents, do a Special Power of Attorney (SPA) to your relatives sa Pinas, put up your downpayment in the bank, post in FB Im proud owner of this XXX condo.. Ka-level ko na si Anne Kutis or Papa P----.. Weeehh!!!
But wait a minute.. This is the common problem nating mga Pinoy.. Our Investing Psychology is usually driven by emotion and not by the right investigative mindset..
Wanna know why is this a fatal mistake if you are emotionally driven in every aspect, as part of Pinoy culture? Read on.
An article by Rose Fausto, a finance coach and personal finance advocate, she says.. But now that we [Pinoy] know that we are the worlds most emotional bunch of people, we should choose to make the important decisions in our lives when we are not in the state of emotional influx Well, the obvious is not to make life altering decisions when you are too happy, sad, mad, fearful, depressed, etc. .in the matters of our finances.We are not always rational when the actual decision-making comes.
Source: The Philippine Star Lifestyle section: Were the Worlds Most Emo Nation!
So to solve this Emo! Nation syndrome of Pinoy, we have to check also the Disadvantages and Risks of Pre-Selling Condo... And we gonna tackle that on the next part of this Case Study
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