Jollygoodfellow Posted February 20, 2012 Posted February 20, 2012 I'm hoping for 20 but not holding my breath I wouldn't either as no air means your 20 years cut short. :23_11_62[1]: Link to comment Share on other sites More sharing options...
Curley Posted February 20, 2012 Author Posted February 20, 2012 Its like an addiction. I need a 'fix'. I've been buying and selling property my whole life. Its an 'unfulfilled' feeling not to own the place I live in. I know all the reasons I shouldn't but I need to try. For me its in the financing. How many people actually 'owned' their home when they live in a first world country. (Its rhetorical). Most people finance their homes and so the bank owns them. If they walk away then the bank takes them back. The banks here are too expensive and not too easy to deal with so I have been looking for a vendor who will finance the sale over many years at a low interest rate. They do exist, but not on the prime properties.I agree with you Dave, I love refurbishing/remodelling property so this could be treated as a hobby and any money I sink into it would be no different than spending the money on golf or drinking in bars every night as well as saving money on rent. I wonder how many years I would need to live there for the sums to add up? Not many I think bearing in mind that an "ideal" property would probably fetch a good rent. I'm also in the fortunate position that I would not need any finance. Link to comment Share on other sites More sharing options...
Curley Posted February 20, 2012 Author Posted February 20, 2012 Many thanks for the info billten, that's not really what I had in mind, beach front or up a hill with lovely views is what I had in mind.Something like this you mean... Yes, looks good but a tad cold and damp? Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted February 20, 2012 Posted February 20, 2012 I'm also in the fortunate position that I would not need any finance. Perhaps you did not catch my 'drift'? I am not suggesting that anyone here 'needs' financing. I am suggesting that if anything goes wrong, the one who financed the property will walk away with only the down payment and some monthly payments lost. The one who paid cash could (and often does) lose it all. Secondly, the vendors who insist on cash are more likely to be swindling you than the ones who are willing to accept payments over 5, 10 or even 20 years. Third, I have chatted with some Chinoy property owners who tell me their motto is: Buy on terms but sell for cash. Link to comment Share on other sites More sharing options...
Curley Posted February 20, 2012 Author Posted February 20, 2012 You're right, I didn't. It's an avenue worth looking into although I wouldn't feel comfortable doing it to a private lender. 1 Link to comment Share on other sites More sharing options...
Tatoosh Posted February 20, 2012 Posted February 20, 2012 The loan idea as protection from full investment sounds pretty wise, though you end up paying the Filipino interest rate on your property, which I am guessing will not be a negligible rate. Theoretically, you would have the matching funds invested to offset the interest to some degree. Link to comment Share on other sites More sharing options...
billten Posted February 20, 2012 Posted February 20, 2012 Yes, looks good but a tad cold and damp?Yup, i don't have aircon, rarely use a fan and often need to use a duvet at night as the nights up here get really chilly. I do love the mountains... Link to comment Share on other sites More sharing options...
Bruce Posted February 20, 2012 Posted February 20, 2012 (edited) Yes, looks good but a tad cold and damp?Yup, i don't have aircon, rarely use a fan and often need to use a duvet at night as the nights up here get really chilly. I do love the mountains...Lets see... no air con... rarely use a fan... Have no idea on what the hell a 'duvet' may be........ Hope when you went 'native' you didn't give up frequent bathing in HOT WATER! :hystery: :nudie: Edited February 20, 2012 by Bruce Link to comment Share on other sites More sharing options...
billten Posted February 20, 2012 Posted February 20, 2012 Lets see... no air con... rarely use a fan... Have no idea on what the hell a 'duvet' may be........ Hope when you went 'native' you din't give up frequent bathing in HOT WATER! :hystery: :nudie:Hmmm, hot water? That is one of the down sides, a VERY CHILLY shower first thing in the morning. 1 Link to comment Share on other sites More sharing options...
Bruce Posted February 20, 2012 Posted February 20, 2012 Lets see... no air con... rarely use a fan... Have no idea on what the hell a 'duvet' may be........ Hope when you went 'native' you din't give up frequent bathing in HOT WATER! :hystery: :nudie:Hmmm, hot water? That is one of the down sides, a VERY CHILLY shower first thing in the morning.You are a better man than me, Gunga Din! Link to comment Share on other sites More sharing options...
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