@@BGCDreams my friend bought 5 cheaper B grade locations condos and I bought 1 high end A grade location ✳️ and after 5 years my condo doubled in value and all 5 of his cheaper condos have remained the same value in the same city 😬
@@TheBigBananaaa Great lesson on the value of going with quality first and foremost! Congrats to you sir and I wish your friend better luck next time 👍👍
The problem with having an agent, they will sell the property according to their price, sometimes it's double the owner's price or even more depending on how they assess your properties. Of course you have to check the owner's authenticity, you might be dealing with fake owners. Bro, never have the ownership under your Filipina common-law wife's name. Because the moment she drops you, it's gonna be a long battle on your part. It could also cause you your dear life. I'm Filipino and I know a lot of stories like it here in my place b/w Filipina and foreigner couple. Filipinos sometimes turn greedy specially when financially embattled.
Thank you so much. A lot of great information. I would love to see a video of like the Top 10 or Top 15 condo buildings in BGC. The amenities and proximity to BGC's great outdoors. It would be greatly appreciated. Really enjoying the channel.
Thanks for the suggestions Barry! We'll try to compile a list in the near future and share our thoughts. That would make for some fun & hopefully useful content. Thanks so much for the kind words & support. Cheers! ❤🍻
Any transactions you do here in the php you have to get the photo of the person and official receit.Good that jenny is there to support you jay .stay safe always.👍✌🙏😍
Yes, I was very fortunate to have an agent & Jenny to assist me in this transaction. Otherwise, it would have been even more scary, haha 😅 Sana all! 💪💪💪💪
I'm so sorry about your mom Jay my Condolences 🙏Congrats on buying your second condo it's always good to have back up plans when doing something like that. Take care 🆒🆒👍👍
Totally agree with you Jay better to buy than rent. Better to have a house that you can claim your own. Not have to worry about any contract whether to extend or find another place to rent/lease. You2 have your whole lives ahead of you. Sky’s the limit.
Indeed! 💯 Totally agree with you Amalia, and it's just more peace of mind and less headaches to worry about, haha. Not for everyone but if you have the means 👍👍
You can't go wrong in Uptown thou it's a bit pricey than other areas but worth it. In real estate there are 3 basic rules to keep in mind (1) location (2) location (3) location.
I also bought a unit at BGC. Purchase was transfer of right since I feel I was more “protected”. Every transaction was done at the head office of the developer. Doing secondary market can be scary but definitely it is where you get excellent deals. Also, I wouldn’t hesitate to give Jenny the SPA. Her honestly and sincerely are apparent.
Thanks for sharing your experience with us Maria! Yup, buying through a reputable developer does give one a certain peace of mind compared to the secondary market where you have a lot less assurances. Also, yes, Jenny is very trustworthy and I don't regret making her my SPA 😊
I'm only at 8:52 mins of your video and sounds like a scam where the realtor and seller in cahoot with one another to scam you of money. But not sure what other ways to deal with this type of purchase.
I like the project and location but in terms of price, it's really hard to say since that's around the price range of what other developers are selling new construction units for. Actually, I think The Seasons is closer to 350-400k PHP and the new Alveo project will be around that range as well. So, relative to those two other projects, Uptown Arts compares very favorably in price. Cheers!
I think it's a great idea that Jenny is working on getting her real estate license. As an American considering a part or full time home in the PH I'd feel comfortable & confident using Jenny as an agent. I will continue to watch your channel & wish you continued growth.
Vlogger name Jasper in Phillipines says in his TH-cam channel recently that he is leaving BGC for Borocay is because the overall Air condition in BGC area is bad….. please let me know if this is true. Thank you
@@chiqsilog8336 Oh I see, that sounds like One Uptown and their non-inverter air con units... Switching to an inverter until will go a long ways to cutting down the electric bill 🤘
It would be nice if the Philippines has an Escrow (Licensed and Bonded) service to process everything just like in California. Anyway, you can hire a reputable legal firm to handle the negotiation, make the due diligence of checking documents, ownership, title, mortgage/iens/encumbrances... if everything is what is represented. This might cost a few hundred pesos but just add that to the cost of the Condo. Escrow service will also cost five figures in California.
Agreed! It would add an additional layer of peace of mind for both buyer and seller. Wow, escrow services are quite pricey in the states... It's been many years since my last transaction, but wow, five figures sounds like a lot. I guess inflation isn't helping things... Cheers!
It actually only took 1 month or so to get the keys. Pretty much once the funds cleared and the Deed of Absolute Sale was signed/notarized by both parties, we were good to go. It's the peace of mind of having a title under my own name that took a bit longer, around 3-4 months. Cheers!
I know each investors have different strategies but im curious as to why not invest in the US instead? I know California is hard to find a deal but how about other states instead of the Philippines? Like for the cash you paid on the condo in BGC,you could have bought a few single family or multi family homes in the US by putting only 15% to SFH and 25% for MFH that cash flows and have the tenants pay the mortgage. Plus you can benefit a lot for depreciation and tax right off here in the US that lowers your taxable income. Or refinance them in future and get more cash flow which is a lot easier here in the US than in the Philippines.
Oh yes, of course investing in the states is an option as well if someone has access to that marketplace. For myself, I purchased several homes in California way back, like 10+ years ago and I still own them today. I locked in 30 years, fixed rate, low interest, and have been cash flowing them since Day 1 ❤ For BGC and the Philippines, I switched roles and purchased these units with the mindset of a home owner as opposed to investor. I only wear the "real estate investor" hat in California. Hope that helps explain things and my situation. Cheers! 🍻
You were brave enough to wire your quids...😅 anyways Filipinos are professional enough to honor their words unlike those in a red flag with a stars... oh you'll gonna be soooorryyyy... contract for them is just a piece of paper. No bad politics here be intended..it's just my PE... need to move forward.. Philippines has a great potential.... btw, regarding payment in cash.. you may use "managers check".... inquire local banks 😅..... kudos🎉
haha yeah it was very scary at the time! 😅😂 In hindsight, yeah you're right as well, people tend to be more trustworthy and honorable with their words/actions, and I'm grateful I was able to work with a very considerate seller who went out of their way to make sure the transaction closed smoothly. Can't say that will always be the case, but I got lucky there. Also, thanks for the tip on "managers check", I'll be sure to remember that for future reference. Cheers Braun! 🍻
Billion of dollars have been ordered from China factoriea. You need to place a 20%deposit when ordering. And the balance will be paid when the ship has reach yr port. You have been brainwash by yr local media.
Wow that’s awesome and scary at the same time. I bet you couldn’t sleep until you got the keys. I know I wouldn’t be able to sleep. May I ask where in BGC is the condo at? I’m looking to purchase another condo myself and I’m looking at BGC as my 1st choice. I already purchased for investment a 1bdrm at Park McKinley West in the 4th tower last July when I was there but it will not be ready till 2025-26. Congratulations 🤙🏽
haha yeah! It was quite stressful until I got the keys and even then... I didn't have full peace of mind until after obtaining the condo title certificate under my name. Overall, it was a great learning experience though. Congrats to you sir on your condo purchase at Park McKinley West and that must be so exciting for you 🎉🥳 Just let us know if you ever need anything within BGC. Jenny is actively studying to get her real estate sales license haha 😉😜 All the best and keep fighting! 💪💪💪💪
May I ask where in BGC is your 2nd unit? Just rent it out to help pay for the dues and also for Jenny's 'luho' on those lean months on your channel :) (hopefully no more lean months) Kidding aside, the properties in BGC just keep on going up in value anyway.
The 2nd unit is also located in Uptown BGC. haha yes, we'll need to rent it out eventually for some much needed extra income. hehe and for Jenny's luho 😆
I have the same concern as you when I bought a piece of property from the secondary market thru a Real Estate Broker but if you are buying a property directly from a developer like new projects, I would say transactions are pretty much safe as long as youre dealing with a reputable company like Ayala, Megaworld, etc. and the Agent you're dealing with is affiliated with the company.
❇️ Buy quality location ✅
Indeed 💯
@@BGCDreams my friend bought 5 cheaper B grade locations condos and I bought 1 high end A grade location ✳️ and after 5 years my condo doubled in value and all 5 of his cheaper condos have remained the same value in the same city 😬
@@TheBigBananaaa Great lesson on the value of going with quality first and foremost! Congrats to you sir and I wish your friend better luck next time 👍👍
Wow congratulations guys❤❤❤
Thanks so much Mark! Keep hustling my guy! 💪💪💪💪
@@BGCDreams yessiiirrr cheers 🍻
Thank you for everything and GOD Bless!!!
God bless po 😊
Thanks Jay and Jenny for sharing your experiences. 💚💛🧡❤❤💙💜🤎🖤🤍
Anytime! Thanks for your continued support bro 🤘
@@BGCDreams Love your work bro, take care.
Congrats to you dude...
Thanks so much tito! ❤
Really enjoyed your vlog and appreciated your insights on why you bought your condo and I totally agree with what you did. 👍😊🤗
Much appreciate your kind words and support sir! More Power to you 💪💪💪💪
The problem with having an agent, they will sell the property according to their price, sometimes it's double the owner's price or even more depending on how they assess your properties. Of course you have to check the owner's authenticity, you might be dealing with fake owners. Bro, never have the ownership under your Filipina common-law wife's name. Because the moment she drops you, it's gonna be a long battle on your part. It could also cause you your dear life. I'm Filipino and I know a lot of stories like it here in my place b/w Filipina and foreigner couple. Filipinos sometimes turn greedy specially when financially embattled.
Thank you so much.
A lot of great information.
I would love to see a video of like the Top 10 or Top 15 condo buildings in BGC.
The amenities and proximity to BGC's great outdoors.
It would be greatly appreciated.
Really enjoying the channel.
Thanks for the suggestions Barry! We'll try to compile a list in the near future and share our thoughts. That would make for some fun & hopefully useful content. Thanks so much for the kind words & support. Cheers! ❤🍻
No escrow or title company is the reason why real estate fraud is rife In this country. There is too much trust involved with closing out deals
There is an business opportunity to start an escrow company if you have the capital. You'll be the only player in town.
Very informative and interesting experience in purchasing your first condo.
Glad you enjoyed the vlog Marissa! 🥰❤
Any transactions you do here in the php you have to get the photo of the person and official receit.Good that jenny is there to support you jay .stay safe always.👍✌🙏😍
Yes, I was very fortunate to have an agent & Jenny to assist me in this transaction. Otherwise, it would have been even more scary, haha 😅 Sana all! 💪💪💪💪
I'm so sorry about your mom Jay my Condolences 🙏Congrats on buying your second condo it's always good to have back up plans when doing something like that. Take care 🆒🆒👍👍
Thanks for your condolences sir! ❤❤❤❤
Totally agree with you Jay better to buy than rent. Better to have a house that you can claim your own. Not have to worry about any contract whether to extend or find another place to rent/lease. You2 have your whole lives ahead of you. Sky’s the limit.
Indeed! 💯 Totally agree with you Amalia, and it's just more peace of mind and less headaches to worry about, haha. Not for everyone but if you have the means 👍👍
Asian would rather buy a house than rent. Cheap Charlie always prefer to rent. I don't know why. Maybe it's in their culture.
You can't go wrong in Uptown thou it's a bit pricey than other areas but worth it. In real estate there are 3 basic rules to keep in mind (1) location (2) location (3) location.
I also bought a unit at BGC. Purchase was transfer of right since I feel I was more “protected”. Every transaction was done at the head office of the developer. Doing secondary market can be scary but definitely it is where you get excellent deals. Also, I wouldn’t hesitate to give Jenny the SPA. Her honestly and sincerely are apparent.
Thanks for sharing your experience with us Maria! Yup, buying through a reputable developer does give one a certain peace of mind compared to the secondary market where you have a lot less assurances. Also, yes, Jenny is very trustworthy and I don't regret making her my SPA 😊
I'm only at 8:52 mins of your video and sounds like a scam where the realtor and seller in cahoot with one another to scam you of money. But not sure what other ways to deal with this type of purchase.
What is your personal feelings about uptown arts, it's at around 350 psm, do you think that's over priced?
I like the project and location but in terms of price, it's really hard to say since that's around the price range of what other developers are selling new construction units for. Actually, I think The Seasons is closer to 350-400k PHP and the new Alveo project will be around that range as well. So, relative to those two other projects, Uptown Arts compares very favorably in price. Cheers!
@@BGCDreams thanks, I really appreciate your reply.
@@chiqsilog8336 You're very welcome, hope it helped!
I think it's a great idea that Jenny is working on getting her real estate license. As an American considering a part or full time home in the PH I'd feel comfortable & confident using Jenny as an agent. I will continue to watch your channel & wish you continued growth.
Thanks for your vote of confidence Clara! Jenny and I must appreciate your support! ❤❤❤❤
Congrats 👏
Thank you aRnie! ❤
Vlogger name Jasper in Phillipines says in his TH-cam channel recently that he is leaving BGC for Borocay is because the overall Air condition in BGC area is bad….. please let me know if this is true. Thank you
In regards to air quality, I haven't noticed any significant difference lately... I'm not sure what he's referring to. Cheers!
I believe his main reason for leaving was a 25k electric bill
@@chiqsilog8336 Oh I see, that sounds like One Uptown and their non-inverter air con units... Switching to an inverter until will go a long ways to cutting down the electric bill 🤘
It would be nice if the Philippines has an Escrow (Licensed and Bonded) service to process everything just like in California. Anyway, you can hire a reputable legal firm to handle the negotiation, make the due diligence of checking documents, ownership, title, mortgage/iens/encumbrances... if everything is what is represented. This might cost a few hundred pesos but just add that to the cost of the Condo. Escrow service will also cost five figures in California.
Agreed! It would add an additional layer of peace of mind for both buyer and seller. Wow, escrow services are quite pricey in the states... It's been many years since my last transaction, but wow, five figures sounds like a lot. I guess inflation isn't helping things... Cheers!
Ahh California, a Democrat, ran down cesspool of a state.
Awesome 👏👏👏
Thanks Frankie!
How long did the whole process take from when you decided to purchase until you received the keys?
I believe he said 3-4 months
It actually only took 1 month or so to get the keys. Pretty much once the funds cleared and the Deed of Absolute Sale was signed/notarized by both parties, we were good to go. It's the peace of mind of having a title under my own name that took a bit longer, around 3-4 months. Cheers!
@@BGCDreams Thanks for the reply, I love your videos which are always very informative.
Buying is always better than renting so you really need to find the best deals out there. :)
I know each investors have different strategies but im curious as to
why not invest in the US instead? I know California is hard to find a deal but how about other states instead of the Philippines? Like for the cash you paid on the condo in BGC,you could have bought a few single family or multi family homes in the US by putting only 15% to SFH and 25% for MFH that cash flows and have the tenants pay the mortgage. Plus you can benefit a lot for depreciation and tax right off here in the US that lowers your taxable income. Or refinance them in future and get more cash flow which is a lot easier here in the US than in the Philippines.
Oh yes, of course investing in the states is an option as well if someone has access to that marketplace. For myself, I purchased several homes in California way back, like 10+ years ago and I still own them today. I locked in 30 years, fixed rate, low interest, and have been cash flowing them since Day 1 ❤ For BGC and the Philippines, I switched roles and purchased these units with the mindset of a home owner as opposed to investor. I only wear the "real estate investor" hat in California. Hope that helps explain things and my situation. Cheers! 🍻
Good stuff
Thanks so much good neighbor! 🍻
You were brave enough to wire your quids...😅 anyways Filipinos are professional enough to honor their words unlike those in a red flag with a stars... oh you'll gonna be soooorryyyy... contract for them is just a piece of paper. No bad politics here be intended..it's just my PE... need to move forward.. Philippines has a great potential.... btw, regarding payment in cash.. you may use "managers check".... inquire local banks 😅..... kudos🎉
haha yeah it was very scary at the time! 😅😂 In hindsight, yeah you're right as well, people tend to be more trustworthy and honorable with their words/actions, and I'm grateful I was able to work with a very considerate seller who went out of their way to make sure the transaction closed smoothly. Can't say that will always be the case, but I got lucky there. Also, thanks for the tip on "managers check", I'll be sure to remember that for future reference. Cheers Braun! 🍻
Billion of dollars have been ordered from China factoriea. You need to place a 20%deposit when ordering. And the balance will be paid when the ship has reach yr port. You have been brainwash by yr local media.
How much did you pay for your unit at uptown ?
It was around 140k PHP/square meter
Wow that’s awesome and scary at the same time. I bet you couldn’t sleep until you got the keys. I know I wouldn’t be able to sleep. May I ask where in BGC is the condo at? I’m looking to purchase another condo myself and I’m looking at BGC as my 1st choice. I already purchased for investment a 1bdrm at Park McKinley West in the 4th tower last July when I was there but it will not be ready till 2025-26. Congratulations 🤙🏽
haha yeah! It was quite stressful until I got the keys and even then... I didn't have full peace of mind until after obtaining the condo title certificate under my name. Overall, it was a great learning experience though. Congrats to you sir on your condo purchase at Park McKinley West and that must be so exciting for you 🎉🥳 Just let us know if you ever need anything within BGC. Jenny is actively studying to get her real estate sales license haha 😉😜 All the best and keep fighting! 💪💪💪💪
May I ask where in BGC is your 2nd unit? Just rent it out to help pay for the dues and also for Jenny's 'luho' on those lean months on your channel :) (hopefully no more lean months) Kidding aside, the properties in BGC just keep on going up in value anyway.
The 2nd unit is also located in Uptown BGC. haha yes, we'll need to rent it out eventually for some much needed extra income. hehe and for Jenny's luho 😆
I have the same concern as you when I bought a piece of property from the secondary market thru a Real Estate Broker but if you are buying a property directly from a developer like new projects, I would say transactions are pretty much safe as long as youre dealing with a reputable company like Ayala, Megaworld, etc. and the Agent you're dealing with is affiliated with the company.
Great take and thanks for sharing! 👍👍