All Forum Posts by: Ronsted Yuag

I live in a house on an acre lot which zoning allows me to build up to a 6 unit studio style apartment. A township officer just informed me of that. This will be exclusively for seniors. I hope you can share your knowledge about this and comment on my questions. Thank you very much.

1. Pros and Cons on prefab

2. Cash flow potential

3. Appreciation: Studio style vs 1 BR apartment

4. Best financing option(s)

I greatly value your time and expertise.

Best,

Ronsted

@Olesia Chikunova  Hi there! Much interested about this concept. I was actually working on this for a few weeks now trying to come up with a business model. As a physical therapist working with patients (mostly seniors :) ) I know exactly what you're talking about. When a senior's house is not accessible - any minor physical difficulty from illness or injury can have a huge financial consequences on the family. This issue is real and has a ton of potential for investors I believe. Looking forward to hear from you. Thanks! 

@Marc Estepa Walang anuman! Sure, will keep you posted.

@Katie Greenman A few years ago I withdrew my 401K from old job instead of rolling it over to another retirement vehicle to purchase a property and then a few months later I borrowed against my 403B to invest in another property and developed it. Everything was doing well until this little roadblock called Covid appeared but it’s going to be okay I believe. For me, I would rather use my money now if I can as long as you do the math right and gut tells you to go for it. Do it now and do it quick and if you fail you got plenty of time to recover. I’ve heard that from someone who’s now rich. Good luck!

@Marc Estepa  Sorry, I don't have anyone particular. He should just call those banks here in the states and ask. 

@Jason Collins

I would say it’s not as smooth as like here in the states but I would guess the laws are pretty much the same. Hiring a real estate lawyer would help. We have a few BP members who have local knowledge- hope they can share a thing or two.

A lot of businesses in the STR are struggling right now with tourism being down. In Siquijor for example, some just shut down and I'm assuming it could be true in other tourism dependent areas. I had to eliminate 3 jobs and negotiated with the staff salary to stay open. Pre-Covid times we were doing good.

Glad you could join.

Thanks! I'll check on that one. Private money lender would also a good option to have. 

Would be interesting to see but knowing how Filipinos love and care our family/extended families so much I won't be surprised.