Expat building 2 BR3 bath solar powered home w/pool near Dumaguete Philippines $69K
ฝัง
- เผยแพร่เมื่อ 21 พ.ย. 2023
- #expat #philippines #retirement #dumaguete #valencia #philippinevacation
My name is Kevin. I hope you will enjoy my videos of my great new life of early retirement in Dumaguete in the Philippines. Come along on my island hopping trips to beaches, snorkeling, mountains, waterfalls and other Philippine destinations. I’ll introduce you to friends, so you can learn about dating, finding a place to live, restaurants, and best places to buy groceries
FB:Kevin Jennalyn
Jennalyn’s channel is: Filipina life with Jennalyn
Email: 2muchtimeonmyhands65@gmail.com
PayPal: www.paypal.me/KevinTucker1100...
Please check out Tim and Rose’s channel. It is:
Rose in the Philippines - บันเทิง
It's nice of you to give her a house and land.
I already watch Tim and Rose they are super funny. Thanks Kevin, yes it’s a nice area they are building in.
Thanks for watching both of our channels Rono!
Great progress ! with all the outdoor living and patio space it will be very comfortable
It’s going to be really nice when it’s done. I wish they could get it done quicker. I am anxious to see the finished product
Good water pressure?or has the water supply ?
Great video Kevin!!!! Cant wait for the next video!!!! 2 thumbs up my friend!!!!
Thanks for watching as always! The next video will be very informative. He has me tempted to buy in the upcoming venture
The windows you are referring too are called "jalousie" windows. Tinted ones with the HD frames and screens are good but best to still have some type of bars or steel grate for protection, especially in the province. Nice build, welcome to the Philippines. Enjoy the journey.
👍🏻 I will pass that on
thank you i had a brain freeze lol
Don’t forget put the Bars on the inside with padlocks 🔐 in case of fire 🔥
Nice solar setup!
Kevin, another excellent video. I’ve never seen so much concrete inside a house before they don’t build houses like that anymore. i’m sure that can withstand category five hurricane
Thanks! Yes, it’s very strong but unfortunately there’s no insulation in them. Their house is at the base of a mountain though, so it’s very comfortable there
Dauin nearby, mountain jungle up the hill, short drive to food shops and Dauin market and the new mall. Yet so quiet ❤
@@TooMuchTimeonmyHands65I put insulation on mine that keep the heat out 😅
Wow that looks great.
It’s going to be really nice when it’s done! Only $69K…..it’s tempting to me, but I am just not ready to commit to 1 place right now
Nice guy, great construction.
It’s gonna look good when it’s finished
Land is definitely getting more expensive. But my wife and I got some lots in a location that is going to keep growing with a great view for around 300 a square meter. That was a few years back, though. Today, it would go for a whole lot more.
👍🏻
I was looking at lots on Panay that were 15k per sq.
Found plenty of lots for 200 a square meter in good locations.
I think in Philippines they should adopt a chamge in their laws that if someone is married and stay for over like ten years in their marriage should be eligible for citizenship. In Seychelles if you are married for 15 years your are eligible for a citizenship.
Love your solar wish we had a bigger system for the whole house.
He’s actually adding more to it😉
Interesting video. I like that he provides sizes /capacity and price details of his solar installation
We are going to do a livestream next Tuesday night(US) Wednesday morning Philippines if you want to ask him any detailed questions
Happy Thanksgiving, Kevin
Thanks Bill! Happy Thanksgiving to you as well
you are right that foreigners can not own land but you can have your name on the property deed too so that if you find your self were you get kick out of the house you can force them to sale the land and house to get your share of the money then at lest its better then nothing.
Thanks, I did not know that my name on the deed carried any legal protection for me being a foreign citizen
Yeah that s a good idea
Ok - they would sell the house/Land massive under value = you get nearly nothing and „in the back“ they get more = you will be fucked anyway!
And try then legal case against it - forget it totally
I have a math mind, and your rental comment sparked my curiosity. You are basically correct, when it’s all said and done, everything will belong to Rose and he is “renting” for all intents and purposes. What I wanted to see if it was more economical to rent “the old fashioned way” or cheaper to “buy(rent)”. Tim actually has the option to lease his land for 50 years, but let’s say he dies on the last day of his first 25 year lease. He’ll be 88…that’s a good run. We know Tim will pay $69K for everything including his solar. Divide $69,000 by 25 years=$2,760 per year. Now divide that by 12(months)=$230 per month for 25 years. Let’s conservatively say he is paying $50/month for his electric bill in his current rental. Let’s say his solar equipment only lasts 10 years. That means for 10 years he will not have a $50/month electric bill. $50X120 months =$6000…..not bad, but let’s see how much putting up the money up front will save him vs rent that is increased by 🤔5% each year.
We know $69K for 25 years is $230/month. Let’s assume that’s what he is currently paying for rent(he’s paying much more than that). We will start year 1 paying $230/month and multiply it by 1.05(5% annual increase) ex: $230X1.05= $242. That means year 2 he would pay $12 more month, year 3 $242x1.05=$254, now paying $24/month more than year 1($288 annualized 12x$24)Do this for every year through 25 years. By year 25 Tim would be paying $744/per month that’s $514 more per month than year one($6,168 annualized). Any of you can check my math, but by the end of 25 years when Tim is dead and EVERYTHING goes to his wife Rose, Tim will have saved $60,060(add up the money which grows larger each year that he would save from a 5% increase)in rent increases alone and another $6000 in electric bills(if solar equipment lasts 10 years). That’s a total of $66,060.
In the end, Tim dies either way and doesn’t take anything with him, but buying the house he has an additional $66K to enjoy in his last 25 years 🤔 it’s something to think about 😉
ask the Tim in 5 years max 100% the philipina kick out the guy and 66k is gone i have see this story many times but never learn in this age
There is no need to do a leasehold.. he can wait till the daughter is of legal age to own property and get the property on his daughters name. That way he is still somewhat covered.
Yeah, I like the math here from a purely financial perspective. The only part of the equation that just doesn’t quite add up is the risk factor of being booted from the home and not having a legal leg to stand on in any meaningful way. Even if you could get a judgement - good luck collecting anything - and you can’t even force a sale.
Relationship variables are too complex to contemplate. I guarantee you that my greedy ex-wife would have taken great delight in leaving me with nothing (after the ‘love’ was gone).
These situations are PURE RISK!
But, all of this said, I definitely wish them the best!
As i watch dumaguete vlog i see the beauty of the place there so much beautiful nature i happen to see the caseroro in one of the vlogger wow i was so amaze of the beauty of that waterfall
Yes, lots of nature! I’ll never do those falls though….it’s over 300 steps back up from there.
Outdoor kitchen is the best way to go. I only have a refrigerator, microwave, and coffee maker in our inside kitchen. All cooking is outside.
👍🏻
Great beginning video--looking forward to the final result (I've subscribed to their TH-cam channel to check out & for updates).
FYI: I think the word he was looking for regarding the crank-type windows is "Jalousie windows".
I'll be curious about the water system & septic--that seems to be a tough issue when out in the province.
Thanks! Glad you subscribed, and I will let him know about the windows
great video
Great idea for the enclosed dirty kitchen
👍🏻
Awesome. Thanks For Sharing. Thanks For The Trueth > Toronto, Canada
Thanks Carluci! Stay warm up there 😉
Great video 👍👍👍
Thanks Ty, stay tuned for part two 😉
This is a great house design for the Philippines. One idea, spending summers in Myrtle Beach SC in the 60s and 70s there was no a.c. in our beach house, just an attic fan which with a front door cracked open the breeze just flowed into bedroom windows at night. Best sleep in the world. I was stationed at Clark from’81 to ‘86 and I’m retiring to the PI in July. This house style is perfect
I am looking forward to seeing the finished product 😉
I think he has a great plan and I think he's doing a good thing.. seem like a nice guy just like you Kevin..😊
Yeah, I can’t wait to see the finished product 😉
I bought a 2,821 sq meter lot in Dauin for 300 pesos per square only 2 kilometres from National highway off a concrete road. There are definitely ways to get good deals.
👍🏻
He is very positive and that’s half the battle.
He’s a smart man, and he’s loving life
Win or lose, the guy is excited and focused.
👍🏻
Great video!! I've been watching their channel pretty much from the start of their build. I do have some questions for Tim. I will contact him on his channel. We just bought 500sqm in dauin about 150 meters from the beach for around 1700 a sq. Wish I could havegotten the deal they did..lol Looking forward to part 2. Thanks again.
👍🏻thanks for watching both of our channels. The 4 of us are going out of town Monday. Tim and I are going to do a live stream Wednesday morning(Philippines time), if you would like to ask him some questions
@@TooMuchTimeonmyHands65 great. I will try to watch!! Enjoy the vacation!!
I just came back from a cruise I suggest building a house like the people from Mykonos, Greece, in concrete, with a rounded roof to protect from very strong wind.
Fortunately, our island doesn’t really get hit by typhoons very often
Hello guyz congratulations new home in Philippines new subscribe from baguio city Philippines.
Thank you Flordelis! We appreciate it☺️
3 br 2 ba 2 story townhome with 6 adults 1 child, our electric just came for 12,370 Piso for the month here in Manila
A/C upstairs only runs 24 Hr, our rent is 16,000 Piso
Your electric bill is about $220/month. Rent’s not bad though 😉
Two 24 V units in series makes a 48 volts battery with 250 aH. One AC running at night and it depends on the use, but as long as it is not a rainy day you will make it day by day. Nine 480W panels will make up to 24 kW in this latitude in a sunny day, running the AC. See , the more you use the more the panels make and remember the battery is also charging. That battery is a 12k . I think your good to go. Solar is great. The next 2 batteries will need 9 more panels and another inverter. I spent 12 k USD on the equipment I needed to build our system here in Bacong. I have 32 kW storage, two 6.2 kW inverters, and 18 460 W panels. Careful with the demand heaters. 2 will over range the 6.2 inverter since that use around 2500 w each. II ran my well pump straight off Norico. It also can over tax a 6,.2 kW inverter. Watch out with that pool pump.
Very good useful information
Interesting build with the solar i see lots of trees are they not going to make shade on the panels and lose efficiency ?
The panels will eventually be mounted on the roof once the house is finished…or a carport
Good advice.
Thanks Philip! I’m glad you found it useful 😉
@TooMuchTimeonmyHands65 I subscribed to Rose in the Philippines like you suggested. I gotta say your videos keep getting better and better. I really appreciate the on-screen conversions you do!
Thanks again, part 2 will be Tim and me sitting down and talking. He and I are going to do a livestream next Wednesday morning(Philippines time) or Tuesday night US time
Looks like a good price. Need to grow some fish in the swimming pool.
😂
This video is very interesting. Must be a fun project to work on. It is also good to see the planning involved. Another educational video. Keep up the good work. Can’t wait to see the final product.
Me too, I am sure it’s going to look great when it’s done 😉
That's beautiful house my friend if done and you saved more money for that house because land now so expensive
I can’t wait to see the finished product
The cheapest aircon i could find was about 8k on Leyte. Window banger.
We have not been to Leyte yet. I hear they get pounded by every typhoon
15.000 sqm I paid for a 328 lot subdivision
In Cagayan de oro + another 10m for build
I wish all the best to this particular gentlemen with his project and his plans. However it seems that so many of these kinds of situations end with the foreigner completing his grand project, then he lives there for two or three years, then for various reasons he decides not to live there and the property ends up abandoned and the house falls into ruin. You see ruined houses like these all over the Philippines.
Hahahaha, he would sell it if he moves. He’s not going to abandon $70K USD
Wonder why that is? the husband as power of attorney, they split up. He won't let her do anything with it. Finds another girl moves and rents? LOL.
@@kellytraveler4748 What happened to going to the Philippines for the family value and where is the commitment? Do you hate the women you chased after so much you can't admit you made a mistake and just move on? Why bother if that is how you experience love?
I wouldn’t do Pee gravel around the pool. It’ll end up in the pool P gravel will stick to the bottom of your feet. If it’s small pee gravel. ??
The other thing, never put a window by all those electronics . Especially a cheap louver glass window. I would think during typhoon season you would get water through those louvers.
I’ll let Tim answer this one😉
you should've concreted that kubo that houses your expensive gear as typhoon ca blow that away ruining your gears hehe
Negros Oriental is protected from typhoons by other islands. By the time it hits us, it’s mainly rain. I live right on the beach, and during Typhoon Odette, we only had a few shallow root Mango trees fall over. He is about 3 KM from the beach. He doesn’t have anything to worry about
@@TooMuchTimeonmyHands65 i see, seems like only termites to worry about haha
@@TooMuchTimeonmyHands65 Except uprooted trees, neighbors roof flying away, and flash rivers forming.
Impressive. Hoping that his FP partner stays with him lifelong together.
🤞🏻
You sir, are in denile! And maybe that IS a place in your world!
Thanks for watching!
Subdivisions have roads, club house and security.
Where are you from?
@@TooMuchTimeonmyHands65 Melbourne, but stay in Bulacan for 6 months of the year.
You can also supplement the SPA with Irrevocable Deed of Usufruct. If the Torrens Title is registered in the Filipina's name married to..., Filipina spouse cannot sell the property without consent of foreign spouse. That's what Perez implied when P said it is conjugal...
That is correct!
❤❤
Thanks for watching Evelynn! We appreciate it
In the Denver metro area that price would buy you an outhouse on a square. Meter space of ground
Ha, I hear ya
who idiot want live denver if can live asian. no any.
Great subject today,
I have a question for all property leasing experts! Is it possible for a foreign lessee to sell the property to another Filipino within the lease period without the consent of the lessor?
Is such a notarial certificate valid in the Philippines?
Thank you very much!
Great question, I will look into that
just be prepared to lose everything 😄
Never do anything that you aren’t prepared to walk away from 😉
hello sir KEVIN, ive seen one video of you been interviewed by EVERYMAN has a STORY channel and you have mentioned about STOCK SHARES investing...can you teach me about your strategy pls...i also been into FOREX cfd trading and im so interested in STOCK SHARES investing...Im a FILIPINO by the way..im not an expat..but im in FOREX trading rytnow..but i want also to be in to STOCK SHARES like you did...
Can I know what city and province is that property? Very interesting to live there
Dauin, Libjo Baranguay I believe 🤔
The only thing foreigners can truly own are condos in certain circumstances. I am an electrical engineer and what he did was my plan when I returned to stay for good. It's nit that I don't trust my partner but people are people all over the planet with a clear advantage.
No, it’s the same exact thing as a condo. You do not own the land the condo is on. Tim does not own the land, but he owns EVERY improvement on the land…..the house, the pool, the solar, the water tanks, even the landscaping. Rose can’t do anything for 50 years. If he wanted to, he could bulldoze everything and there is nothing she can do. Of course, he would never do that. They are a good couple. You should check out their channel: Rose in the Philippines
Damn. Everyone has a channel
Nice fishpond beautiful easy to convert for pigery .
No pigs, chickens allowed. Also only one dog allowed
IMO don’t use the big tiles as they will pop in a few years in my experience
I’ll pass that on😉
Hello. Nice video. - But I see some serious issues in this video. First at all only 300 PHP per sq/m sounds really cheap, but only then when the land is a legally certified "residential" land! If the land is officially declared as "agriculture" land, then a) it is much too expensive, and b) the build permission probably is invalid. The 2nd problem what comes to my mind, is the owner's idea too "split" or divide the remaining land - like a "subdivision"- and sell it. A subdivision has to be "approved", legalized, planed, certified, registered, and then permitted. And that will cost a truck load of money. That's why the lots in a proper planed and legalized subdivision are so expensive! And btw the inheritance law in the Philippines is very complex, complicate, and extremely tricky. No matter if there is a "last will" or not, the wife's parents (the foreigner's parents in law) will get their "percentage" of the inherited properties (real estate, car, motorbike, boat, belongings, etc)!!! A vast majority of the foreigners still have zero clue about that.
Thanks for watching! Their channel is: Rose in the Philippines. Reach out to them there. I’m sure he would be happy to explain more in detail
I’m going to have to invest in a condo or just rent. The amount of risk would keep me up at night.
👍🏻
LOOK FORWARD TO THE
HOW I LOST EVERYTHING IN THE PHILIPPINES
VIDEO
When are you coming, so I can interview you when you do 😂?
I want to hire Tim to do a consultation on a solar system on my house build on Bohol.
Check out his channel and message him there. Tell him you saw him on my channel:
Rose in the Philippines
If I may ask, are you living here on a SRRV? I ask because with a SRRV you put down a certian amount of pasos to qualify for a new bussiness or if you invest in building a new house, however you would need to secure a 25 year lease on the land to qualify under that program. At that point you would qualify for the return of that visa deposit.
No, I am on a tourist visa. I don’t qualify for an SRRV
Apparently the value of the property must be at least $50,000.
That’s not true if Filipino can lease a land in the Philippines and foreigner can lease the land on the 30 year lease up to 3 times so never say that a foreigner can’t land in the Philippines because you can you just need to get an attorney and do it the right way and get it registered the right way
That’s basically what he said. Remember….leasing and owning are 2 different things. Leasing means renting
All good, but all in I think he'll be in for 5M or more. Many misc. expenses are "forgotten".
🤔 I don’t know if it will be another million, but I could see a surprise 100-200K for sure
I only went over about 2M 🤣 @@TooMuchTimeonmyHands65
Not 100% correct about the more sun the better. When the panels get too hot they can drop power by 20+% .. based on my solar install in PH for 3+ years. Note running 12kw System. Great content though. Nice you give prices. ROI on solar is very fast in PH its a no brainer :)
👍🏻
My electric runs around 8K a month, 24/7 split AC running.
Exactly, he’s going to be saving some money 😉
Hey Kevin....looking for a studio on the beach.
Danny
I’m meeting with my realtor in 2 hours. I will see what they have. I hope to get some rental videos out soon
If parts of your house won't have AC then Duma is not nearly as hot and humid as South China.
I would NOT live in a house in Dumaguete that did not have AC. I grew up in New Orleans and have lived in Houston all of this century. Dumaguete is NOT as bad as either of those from June-Sept, but it’s not pleasant
Very nice, thanks for your video! But can he legitimaly own a house or a land in the Philippines, or he is building under her spouse's ownership and name? Because even with an happy marriage, that thought would trouble me more than the cost itself.
Thanks for watching Pietro! There are many ways to protect your investment, which Tim goes over in the video. That being said, don’t buy anything that you can’t afford to walk away from. I rent😉
Wow $10k US.
For a hole in the ground in the jungle.
Anyone think that's ridiculous
What?
Hey man just saw your channel. What job did you have before to retire? Also since you retired how to get passive income so you don't take so much of your savings? Thanks. Also what is good amount to save to move there in the philippines?
Thanks for watching! We appreciate it😉. I was a salesman in the oilfield. I did a video 2 months ago that’s still getting a ton of views today on how to start investing at age 55 and retire at 62 with a great tax free income. I would plan on a budget of $1700-$2250 each month to live VERY well. I would also recommend having $10K in cash or credit card in cash you have a medical emergency or something here, or have to return home unexpectedly
@@TooMuchTimeonmyHands65 Thank you for replying back asap appreciate it. I will watch those videos to get more info.
Just bought 2.6 hectares on Mindanao for 50 ppsm
That’s Mindanao….not Dumaguete. 😉
It's Mindanao, but unfortunately it's also in the path of development and people are paying 300 to 2000 pesos psm for similar land. But I'll be long dead before the Krispy Kremes come so it's all good. @@TooMuchTimeonmyHands65
Exactly 😏
🤙
It’s gonna be really nice when he’s done, and he will be all in for $70K. He’s got me thinking about it
@@TooMuchTimeonmyHands65 not a bad deal at all brother.
His lot size... what's that convert to in acreage
That’s in the video….im pretty sure it’s near the beginning
About half an acre..43,560 sq feet in a acre..
69k USD IS 3 MILLION PHP
Ok
Bamboo near the pool pipes will break the pipes.
I’ll bring that up to him, thanks!
I bought a property in Bulacan im American citizen, former Filipino citizen..
Nice!
Hi! I am really interested to install a solar in our house . And our farm house so we can save money lots of money. Hope you can help us. By the way our house were located in makati city and bataan city
You can get in touch with Tim on their channel:
Rose in the Philippines
is ETORO broker good to use for STOCK SHARES investing?
Who is that lady in the background 😊
Jennalyn or Rose
So, does his spouse own 60%, or how does that work out?
The land is in the wife’s name. Everything else is in his. He explains that at the end of the video….how he’s protected
The pool price sounds extremely excessive for how its made. 😮
$9000 is excessive? That’s a 20X10 pool that’s 3’ to 6.5’. That’d be at least $50K in the US
Agree. More like $5k....
So how much is he selling lots for?
This “subdivision” went for 800 pesos/M2. He lets you pick how much land you want. I am considering 2000 M2 on his next venture
Add the VAT TAX..ouch!
I don’t know if he already included that or not.
can you post the link for the guys channel please
Drew, I tried posting a link, but it didn’t work. Their channel is: Rose in the Philippines
cool ty
@@TooMuchTimeonmyHands65
www.youtube.com/@roseinthephilippines5835/videos
@@TooMuchTimeonmyHands65 put in video description
@@TooMuchTimeonmyHands65 Rose In The Philippines 🇵🇭 - www.youtube.com/@roseinthephilippines5835
Heaven forbid something happens to the girlfriend, her relatives that inherite the land will probably kick you out. That is why you better CYA like he did. Looks like he did a good job protecting his investment.
Nope, he has power of attorney and a 25 year lease with an option for another 25. Nothing can change on that property for 50 years. If you watched to the end you would have also seen that in the event of his death, his oldest daughter then gets power of attorney. His fiancé only owns the land. He owns all improvements…house, pool, solar equipment etc.
If you can not trust your gf, why bother?
@@TooMuchTimeonmyHands65I am really not a negative thinker and I really do not like to say negative things but you just made me think.. don't you have to cross her land to get into your house? Just a thought from my pee brain today before I have my first drink of Jim Beam..hehe.. my first toast is to you and your TH-cam channel 😮😅😅😊
But if you can't own the land what's the point unless you know something that I don't
Tim’s 63, and has a 50 year lease. That’s good enough for him. I am a renter, I won’t buy anything over here
I thought foreigners couldn't buy land.
They can’t, but towards the end Tim explains the steps he took to protect himself
😊🥳👍👍👍👍👍🦘🍺
One thing you must realize,as a foreigner the land belongs to your filipina partner,you only leasing the house,your partner can kick you out of the house ,and if you try to reclaim it you just lost your investment,in the Philippines foreigners have no rights to any property,you are at the mercy of your partner,and if you try to push the matter to extreme,they will never find your body,,,,,me I just rent or lease a house
If they are married, the land is their conjugal property.
Did you watch the whole video? The Filipino owns the land. The expat owns all improvements….house, pool, solar etc….expat has iron clad contract as power of attorney. Expat has 25 year contract with his option for another 25 years. NOTHING can happen to the property without his consent. NOBODY else can move onto the property. I know a few people who have won in court Ken.
@@stacyannperez9206 ,,,,wrong,it don't matter if you are married,you don't own the land coz the land belongs to the Filipina,this is not the US,it's different in the PH
@@TooMuchTimeonmyHands65 ,,,,there's nothing iron clad in the PH,including ownership of land title,,,,,I've been in the PH 8 yrs,I know personally 3 cases of foreigners trying to reclaim their property from the Filipina even the so called Iron Clad guarantees,,,,this is not the US,this is the PH,I know personally of filipinas ending the relationship with their partners,the foreigner did his best trying to reclaim his share,both were found dead with a bullet in their heads,,,this gentleman daughter will not be able to reclaim her share in the said property ,things work differently here trust me
There are so many cases of foreigners losing money and property in the PH,many left the PH coz of fear of retribution even death,,,,, foreigners should not jump into buying property or giving money after a short and quick relationships,wait a couple of yrs ,get to know her very well,,,,most filipinas are lovely but many also will make your life a living hell,,,,think hard with your big head,not your small head
True whit philippine woman have, when you house have ready to move in and all furnitured and good, philly wife diverce you and you not sure stay anythink , not house, not money,not live, only clothes what you have on, and wife kicked you out off house. thats normal story any philippine woman, many friends has marry phil woman and some has looking and stay 7 year but first time when woman can thief all she do this too sure. then men not stay anythink. losses all invents and house,bank account, car, bike, ewerythink. better move Thailand and stay better safety good country live.
Countries like American should ban citizens for countries like the Philippines from owning land in America.
Fair and equal.
I agree, BUT….if anyone could buy land here, then Filipinos would be priced out and probably be forced into barrios or projects because prices would BLOW UP
@TooMuchTimeonmyHands65 That's almost a valid argument. I'm not knocking you personally, but I've heard this argument before.
It's a common, narrow sighted argument, and dosen't take into account the positive aspects of second and third order effects, nor the limitations on type and location of the land that could be imposed like what Mexico did. In Mexico, there are restrictions on what land foreigners can or can't own. But, they can own.
Many would be priced out and forced to move out to the poorer areas in the province, absolutely. But not all. And that's a great thing. It's called progress. That's what creates development in those areas. There could be restrictions that foreigners could ONLY buy land in the province and must invest $100,000 USD in development over a 10-year period or whatever.
There has never been, nor will there ever be, any country to raise their citizens out of poverty without at least one of two factors.
The first is an abundance of easily exploitable and desirable natural resources. Think Kuwait, UAE, or Nauru in the 70s. But this will eventually end.
The second is LONGTERM foreign investment. The ability to receive a steady ( non seasonal) influx of outside capital to fund local development.
The United States, for instance, has both factors. Size and geographic location also played an important role, absolutely. But in today's multinational economy, it's irrelevant.
This benefits the country in a few ways.
A) Increases the local currency value.
B) Increases holdings of foreign currency reserves.
C) Increases local employment.
D) Increases tax revenue.
E) Increases infrastructure development.
And many more.
This second factor is where the Philippines is currently set up to have a unique advantage over many other nations in regard to American investors. Particularly, American military veterans. It's the only country outside of the U.S. with a Veterans Administration Regional Office and/or a Veterans Administration health clinic.
Now, I'm not saying that the U.S. is the ONLY country that could pull the Philippines out of poverty. Not at all. But, what I am saying is that the Philippines can't on their own. No developing country can.
If the Philippines gave that Cebu Navy base and that old Air Force base permanently to the U.S., allowed U.S. Military Veterans to own say, 1 acre of LAND in their name, and with all rights other than voting. The Philippines would be one of the wealthiest island nations in the world within 2-3 decades.
Again, it's not THE way, but it's definitely A way
Like to have his channel please
Rose in the Philippines
@@TooMuchTimeonmyHands65 tyvm I added them awesome couple great tips
house and lot for $69,000?
Yes, that’s more than 1/2 an acre and don’t forget the pool!
Thanks for sharing, that’s very close to where my Filipina & I want to purchase land and build our house & mother in law house,and have our garden. ❤🙏 I will look him up for going solar also. 👍
Sounds good 👍🏻 thanks for watching!
But never forget guys, it's all HERS, not his. If anything happens he loses every penny. Foreigners CANNOT own land in the Philippines. So you had better be very realistic about your relationship status and future.
Tom, you need to watch the entire video. Everything is covered and his fiancé cannot do anything with the property for AT LEAST 25 years, and up to 50. This man’s not stupid. Only idiots who don’t cover their bases can lose their stuff….and unfortunately, there are plenty of those
All well and good, but do you think the majority of your viewers will be so astute? I recall numerous horror stories.@@TooMuchTimeonmyHands65
That's right, pick your gf very wisely.
@@TooMuchTimeonmyHands65
1. The contract was made in bad faith
2. She is a vulnerable individual and Filipina. In other words, he is "rich" and she is "poor". Foreigner takes advantage of a poor Filipina, possibly violating the law in the process. All sorts of contracts have been thrown out of court all over the world just for this, including pre-nups.
All these contracts are made in bad faith. Judges will see through them easily. However, I don't think most Filipinas will have the means to take their foreigner to court for that, unless a new foreigners foots the bill, which can be possible.
@@dumaguetedreaming and even then, a smart girl could be running what I came to call, "the long con", which in me and my X's case turned out to be 3 YEARS long. In the end, even tho we had a 2 lawyer bombproof pre-nup, she was able to get a "victims advocate" (bs!) pro-BONO" attorney (whom she was boning it turned out) for free and get our prenup thrown out. Even innocent "Province Girls" can quickly become backstabbing western harpies.
Been and know friends lived in asia since1990s it all ends they breakup and loose there arse. Just matter of time.there all knowledge and cocky now .
Just wait.one good argument. Why building in third world country cant own the land.just rent your free to go
👍🏻I myself am a renter 😉
An The woman talking about buying land oh my home I only wonder what you’re talking about on the land hmmmm
Its funny how people build a house in the Philippines that is not legally theirs and is just Average looking...it really makes no sense to deal with all the headaches of building a house with a poor selection of Materials and the Poorest skilled labor in all of Asia. I knew a American guy who built a house in the Philippines cost $189,000 usd...only 1100 sq ft. You are never going to make money in the Philippines in the real estate market because homes have no Interest Value
He doesn’t want to pay rent or an electric bill. He won’t have to do that for the next 50 years. He will be dead by then, so he doesn’t care what happens to the house after that. That being said, I am a renter😉
@@TooMuchTimeonmyHands65 ...You have a Valid point...but in all Reality all Foreigners are just renting in the Philippines...I just see how much of a headache to build a house in the Philippines...too much Stress
I hear ya, rents so cheap here anyway. I’d never build because I would not want to be committed to one place. 7000+ islands here. I may like someplace else better
I have a math mind, and your rental comment sparked my curiosity. You are basically correct, when it’s all said and done, everything will belong to Rose. What I wanted to see if it was more economical to rent “the old fashioned way” or cheaper to “buy(rent)”. Tim actually has the option to lease his land for 50 years, but let’s say he dies on the last day of his first 25 year lease. He’ll be 88…that’s a good run. We know Tim will pay $69K for everything including his solar. Divide $69,000 by 25 years=$2,760 per year. Now divide that by 12(months)=$230 per month for 25 years. Let’s conservatively say he is paying $50/month for his electric bill in his current rental. Let’s say his solar equipment only lasts 10 years. That means for 10 years he will not have a $50/month electric bill. $50X120 months =$6000…..not bad, but let’s see how much putting up the money up front will save him vs rent that is increased by 🤔5% each year.
We know $69K for 25 years is $230/month. Let’s assume that’s what he is currently paying for rent(it’s not. We will start year 1 paying $230/month and multiply it by 1.05(5% annual increase) ex: $230X1.05= $242. That means year 2 he would pay $12 more month, year 3 $242x1.05=$254, now paying $24/month more than year 1($288 annualized). Do this for every year through 25 years. By year 25 Tim would be paying $744/per month that’s $514 more per month than year one($6,168 annualized). Any of you can check my math, but by the end of 25 years when Tim is dead and EVERYTHING goes to his wife Rose, Tim will have saved $60,060 in rent increases alone and another $6000 in electric bills(if solar equipment lasts 10 years). That’s a total of $66,060.
In the end, Tim dies either way and doesn’t take anything with him, but buying the house he has an additional $66K to enjoy in his last 25 years 🤔 it’s something to think about 😉
What is his wife passes away then what happens to him and his house?
Great question, let me look into that 😉
You would have to check with a lawyer about inheritance laws in the Philippines.. probably next of kin.. maybe oldest child?
Not a chance in hell that that cost $69 K
You just saw what everything cost if you watched the entire video