All Forum Posts by: Marc Estepa

@Jeff Martin. Salamat! I gotta look harder at the numbers. With the cost for each unit, what are rents going for for comparable units in the area? If I remember correctly, I remember the cost for the condos were nearly matching the price of homes here in Hawaii! If I were to turn it into a rental property, I’d have to do the analysis of what kind of price units would go for rent. Also, how difficult would it be to find renters for these luxury units? What’s the target demographic that can afford them? International expats, wealthy locals, etc? Where are you pulling your data? Thanks in advance! Those are nice units for sure!

@Antonio Cucciniello. That has become painfully obvious. Obviously looking back, hindsight is 20/20. I purchased these homes I. 2005 and 2008 with very little investor analysis. The thought process was very different then. Basically to ensure I was living below my means and keeping it within the budget of my Basic Allowance for Housing. I struggled through all that until about a month ago when I found BP. Now here I am analyzing everything and learning how to do it. Rather than continuing to evaluate and analyze different properties, I decided to assess my own situation first. It’s been eye opening. I’m still figuring it out. That’s why I’m here though, to learn. This is what’s led me to share my numbers and see what the best way ahead is to improve my position now. I’m leaning toward selling, but also debating on refinancing. Any insight you have is much appreciated. I want to invest further in real estate, but need to see if I can even turn these into cash flowing properties without breaking myself off, or if I should just cut my losses, take the equity and invest properly this time around.

@Lope Encarnacion, thanks bro! Investing for me out of the country would be a huge step. I’ve always thought about it during my travels, but not comfortable enough to know the market and see whether or not it’s a safe investment. But thanks to this data, it will help investors better look at their numbers and see how much risk they’re willing to take.

Yup!  I was eyeballing it about a year ago and inquiring.  Very nice property.  But with CoVID and everything else going on, not sure how the market is playing now.  I’m also new to bigger pockets and looking at analysis for rentals.  Do you have any analysis on the cost for rentals in the area?

@Dennis Cosgrave. The construction is definitely happening. I shared a hotel with quite a few engineers working on the expansion of the MRT and the new airport. I was also eyeballing a few condos there in Alabang and another development near NAIA. I think the majority of the people buying those luxury apartments are international investors and the such. Way too expensive for the average Filipino to purchase unless they’re like the top 2%. The Philippines has been receiving a lot of money for infrastructure development by the Chinese, the US, Koreans and Japanese. They’re banking on it now. As for remittances from Overseas Filipino Workers, it’s about 10% of their overall GDP. Due to CoVID, many of them are returning home. I was there in March before I was forced to evacuate myself and get back to the US.

@Kevin Hunter, I haven't forgotten about you man. Pretty crazy back here right now with this move. Trying to make some space so I can breathe for two seconds. I'm going to have to do the math and talk to a lender to see what's most advantageous. I'd like to free up my VA entitlement, which would pull out the option for the VAIRRL. I need to talk to a lender to crunch the numbers to see if refinancing traditionally or through the VAIRRL is better. I'm bleeding for sure, I just need to analyze what is the most advantageous and cheapest way to do this so I am back in the green or to just cut my losses. Thanks again for spitting some knowledge my way! We will absolutely be in touch, once I can get some breathing room.

@Danny Randazzo, I’d love to pick his brain! Just trying to increase my education through my own properties right now so I can figure out my next steps!

@Alexander Felice, hahahahah!  I’m still alive.  Last time I saw you was in Fayetteville at your old job - Shoot that was like 10 years ago or something!  Now look at you killing it bro.  This Army thing is finishing up for me and I just found BP like a month ago.  Straight madness.  More like OBSESSION right now.  I think I’ve pretty much stopped listening to music in the car!  Anyway, we will absolutely catch up.  You went from jumping outta airplanes and deploying around the world to making mad money!  Show me the ways bro.  Gotta be like you!  

@Najee Bissoon, wow! I wish you guys were in North Carolina! I’ve had some bad luck with property managers. Just got off the phone this morning trying to figure out who my new PM is after they’ve rotated out numerous times now. So frustrating. I just posted my own horror stories and looking for a new PM!

@Alexander Felice. NO ****?! It’s YOU!!! Howzit?! Long time no see man. Let’s talk when you get a chance. Small world! Good to see you’re doing well!