Back in 2014 I invested in Anchorland property near Manila Bay. It was considered cheap. Paid 5k down payment and 20k every year for 3 years. You only had to apply for a loan 3 months before property completion. Sounds good but there was a few things I did not understand about Phillipines.

Foreigners cannot get loan but the developers can give your a loan it was offered to me at 9%! I did not understand how the rental game is played there. For the shoe box unit I bought they can fit 8 people in it. As it was close to casinos so you rent to people working there, they take turns sleeping there. As the rental game was too complex for me and I am not in Manila to oversee it I finally sold it before completion, something which you can do there. I did not understand why many agents approached me to sell it so I sold it with a 5% overall profit. Agent fees over there is 3 to 5%. I was charged 5%. What I did not understand I could have made 20% profit as these condos were bought by China people to clean their money.

Play in these markets only if you understand the game.



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