When I was still working with Liwayway Marketing Corp. ( http://www.oishi.com.cn/ ) in China, I was already thinking of ways and opportunities that I would like to get into when I go back home and one of those opportunities was real estate.When I resigned from the company and went back home to the Philippines, Robinson Hwan and Ken Tan (two of my high school friends) invited me to join their informal stock session group to learn about stocks and the current market situation. So I joined the group thinking that it would one of those lectures type of thing where you have to listen for hours about the stock market. It turned out to be even better. The informal group headed by Earl Yu ( our stock market mentor), evolved into a informal business group that are now looking not just at the stock market but also for other business opportunities.
One night, during our regular stock session meetings, Earl presented an opportunity in Real estate. The property that he was referring to was ONE ARCHERS PLACE by ETON Properties near De La Salle University in Taft Avenue. We did the math and it seemed very feasible for us to invest in it. The group decided to go with with 2 studio type rooms for around 1.4 million pesos a room. I have a 12 percent stake on the 2 rooms. We will be financing it through the bank and will be paying monthly amortization around 15 yrs.
I shared this information with my close friends and it turned out that they were also interested in looking into the place already. So we did the same thing. We got 1 unit and I got a 16.67% share. We will also do bank financing for this one but only up to 5 yrs.
So now I have three studio units in One Archers Place. I wouldn't be able to do that on my own as of this blog entry but maybe in the future I can. But I'm pretty much content in being able to start investing on real estate now with my friends.
The turnover of the units will be on 2010.
No comments:
Post a Comment