By Al Ambrose
Real estate rentals are a great way to build residual wealth, and the Philippines offers a unique opportunity for those looking to get started. Here are some tips on how to build residual real estate wealth in the Philippines:
Take advantage of low-priced properties: Properties in the Philippines typically cost significantly less to rent than properties in the US, with a three-bedroom house often renting for $500 US or less per month depending on the area and location. There are also many two-bedroom houses that can rent for under $200 a month in the Philippines.
Use the "rent two" strategy: If your intention is to live overseas, you can rent one home and rent out the other one. You can rent out one house and have the rent from that house and the rent on the place that you are residing in. This is a great way for expats and people seeking to be free of their mortgage or housing expense to leverage real estate as a means of freeing themselves from monthly mortgage payments that they have to pay by themselves.
Consider the bed space phenomenon: In the Philippines, you can rent out beds in a home instead of renting rooms. Many times people rent bed spaces for 1,500 pesos to 3500 pesos depending on the amenities and location. This could be a very lucrative venture and even though it doesn't involve Airbnb, it can be used as an alternative for Airbnb if you are uncomfortable with Airbnb arbitrage.
Use a company to sublease the property: Unfortunately, the Philippines does not allow foreigners to buy anything except condos, but you're allowed to rent almost any property for up to 50 years. If you have a company, you can sublease the property and create a residual income stream for yourself in the form of rental real estate.
Take advantage of the Philippine Condominium Act: Foreigners can own condominium units, as long as 60% of the units in the building are owned by Filipinos. This is a great option for those looking to invest in real estate in the Philippines.
Be aware of transaction fees: Real estate transactions always involve more than just the price tag. If you rent property in the Philippines, you can expect to pay several fees, including security deposit, advance rent, and other fees.
In conclusion, real estate rentals are wealth builders because they provide a steady stream of income with minimal risk. You can expand your real estate portfolio very quickly with the low-priced properties in the Philippines. With the right strategy, you can build residual real estate wealth in the Philippines and secure your financial future.
Contact Al Ambrose if you would like help building your restate investment empire in the Philippines.
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