Business to Residential use changes.

[Snowy79]

I'm just playing around with a thought in my head. I've spotted a small local food place built into a hillside with stunning views. There's a competitor building a very modern food place about 800m away purely to capitalise on the view. I'm contemplating buying the lot and old food stop but building a house on the spot instead. I'll worry about the legalities of ownership etc later. It's just a thought I have.

Is there a set process in the Philippines for transfer of property use or is it pretty much fly by the seat of your pants and as long as you pay your property taxes the Government don't care? 

[robert k]

5 hours ago, Snowy79 said:

I'm just playing around with a thought in my head. I've spotted a small local food place built into a hillside with stunning views. There's a competitor building a very modern food place about 800m away purely to capitalise on the view. I'm contemplating buying the lot and old food stop but building a house on the spot instead. I'll worry about the legalities of ownership etc later. It's just a thought I have.

Is there a set process in the Philippines for transfer of property use or is it pretty much fly by the seat of your pants and as long as you pay your property taxes the Government don't care? 

Interesting question. Most places I have been they worry about turning residential property into commercial property and the only worry going the opposite direction is people living in buildings not rated for continual occupancy like a warehouse building that isn't up to code for a habitation. 

[scott h]

 

snowy, as they say in the crime shows on TV, time to Lawyer up!

[Gratefuled]

With high unemployment here in the Philippines, EVERYONE wants to be self employed someway somehow. 

Their home into a SARI SARI store, or a street vendor.  Their bicycle or motorcycle into a tricycle with a cab. Their car into a taxi. 

[sonjack2847]

My friend had to inform the fire brigade,the water district and the electricity along with the BIR.I can`t remember if there was anything else but as was written ask a lawyer.

[Dave Hounddriver]

3 hours ago, sonjack2847 said:

as was written ask a lawyer.

Or if you are cheap like me I would ask the barangay captain. 

[Snowy79]

I'm figuring this place was a cardboard box that after borrowing some timber that had been left laying around was turned into a locals cafe.I doubt it's even listed anywhere. Obviously due diligence will take place. I'm even cheaper than Dave and asking here before approaching anyone. 

[bigpearl]

Ah Snowy, a man like myself, looking for the opportunities for an outcome to suit the needs, profit? Lifestyle? What ever, as wise people here and I know/see you are not an infant, research and research, slap and question and at the end of the day the brown paper bag fixes most if not all problems to suit the needs and desired outcomes. Good luck and I am sure as an astute investor you will make the correct decision.

Cheers, Steve.

[bigpearl]

Hey Snowy as a side issue not related but business wise definitely related, my wife (ex) and I purchased a church some 30 odd years ago because at that time who wanted a church. (visionary yes). Rezoned by us and yes lots of paper work but no brown paper bags and became residential property with light commercial opportunities, we saw the potential, developed, renovated, in the interim we purchased another church and did the same, we doubled our money in 2 years, we were poo hood by friends questioning our decisions (Why do you want to buy a church) and what they held as a waste of money, irrational? We were the winners because we researched and asked the right questions, invested the time and energy prior to purchase.

One of these properties (the first one we dedicated our life to) recently sold for nearly 2 million bucks recently, a vision, good property, a unique building with grand designs and isolated situation. Trendy with dollars always wins pays the bucks. Snowy pick the property, No one wants it because it is a church or an ex power station or perhaps a huge warehouse overlooking Sydney Harbour. Lots of bucks were made there with the olympics. Opportunity knocks and no matter the country if one is knowledgeable and astute/does home work it will be a winner or a loser. Gods speed my friend, at the end of the day don't be passionate or you will blow money.

Cheers, Steve. 

[robert k]

53 minutes ago, bigpearl said:

 

One of these properties (the first one we dedicated our life to) recently sold for nearly 2 million bucks recently

This part of your post made me sad...thinking how debased money has become. One day we may all be millionaires and on public assistance. Of course some people are not waiting, they are doing it now.