Income Generating Investment

Bayo Condotel and Suites is a hotel like condo that can be purchased as a residential unit or a vacation house to buyers whom would probably only occupy the units no more than one month. The BALIK BAYANS or other Filipinos living abroad are the best possible clients for this. They can use the unit for 30 days per year and for the remaining days or months as an investment real estate that can generate income through the condotel concept. In normal circumstances the unit owner pays maintenance and upkeep of the unit for the entire year without deriving any benefit. However, in a CONDOTEL, during the time they do not occupy their units, the hotel management is the one who maintains and clean the unit in exchange that they will use the unit as one of their hotel rooms. The owner of the unit will receive rental income on their property making it an income generating property and self-liquidating investment with hassle-free property management as the hotel can rent out their unit with all services provided by day, week, or month.

Kim Chiu and Marian Rivera in One Company?

Kapuso star Marian Rivera has been the image of SM Development Corporation for their past and recent projects. She had done a wonderful job in boosting the sales of one of the emerging residential developer in the country.

Now SMDC is launching a new project called “MY PLACE” a low-cost condominium, the price ranges form P1.1 million and below per unit. My Place is located at South Triangle Quezon City near ABS-CBN thus choosing Kim Chiu the first Big Winner of Pinoy Big Brother Teen Edition and one of the most sought young actress of today as the new image model a good choice. The said condominium aims to target the young professionals of today or the so cold “yuppies” as their primary market mostly compose of call center agents and a like because of the price range of each units are within their reach.

June 16, 2010

Cflorendo

Helpful Tips for First time Real Estate Buyer

When buying new property, it is important to look for properties backed by established developers and licensed real estate agents/ brokers, especially in cases of off-plan or pre-selling (the property is at the planning stages and non-existent during the time of the sale).

In general, property can be acquired by simple agreement. After deciding what property to buy as well as inspecting the premises and documents, the buyer usually signs a binding notarized Deed of Sale. Employing the services of a reputable sales agent is convenient because they not only provide vital information regarding the transaction and property, but also assist the buyer in getting the best quality property that they should have but rather give them the best service that they can give.

June 12, 2010

Does a Real Estate Sales Person need a License to Market Properties in the Philippines?

The answer to that is yes the RESA law is prohibiting unlicensed Sales Person to sell properties that they don’t own and no if they lawfully own the property that they are selling, a trustee or assignee in bankruptcy or insolvency proceedings and any person acting pursuant to the order of any court of justice are also exempted to this law.

To those people who want to be a part of real estate selling and to those who are already selling but are not yet licensed you must take note of this. The RESA Law or the Real Estate Service Act of the Philippines aims to “safeguard and protect legitimate licensed real estate service practitioners, to finally and completely eradicate the pernicious practices of unauthorized or unlicensed individuals and lastly as an additional security for the public when transacting with brokers or appraisers. Under the bill unlicensed practitioners for real estate will be meted with a penalty ranging P200,000 to P2,000,000, as well as 1 year to 12 years imprisonment.



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