Archive for February 8th, 2008

We wish to own a lot in Boracay

Posted by Arelle V. White on February 8th, 2008
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Serious money in real estate is not in selling, it’s in owning properties. That is the statement i heard from a Developer who started as a real estate agent, and now a big time property developer.   He said that if you are in the property business, don’t just settle for being a selling agent, dream of becoming a property owner and developer.  Envision yourself having your own rental properties and land to develop and sell.

When our team stayed in Boracay for three weeks we noticed how the island is growing in visitors and we have a vision of the potential of owning a property in the Island.  We are bent on pooling some of your income to own a piece of land there, and eventually build a resthouse on it for our use and rent out during periods that we aren’t there and just leave a room for our use when we need to come.

Our desire is to buy the lot in cash so we don’t have to worry about monthly amortization, and just leave it until we have the funds to build. It would at least be good to secure the land.  Building a house out of mortgage lenders help is also an option, although not much of a priority since we are not in a hurry to build. A simple nipa hut would do lol…

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Need to lose some pounds

Posted by Arelle V. White on February 8th, 2008
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My cousin Rene was cooking a lot of great food in Boracay that we all gained some pounds, that we now have to start shedding off.  Im reading about hoodia which i find interesting. It looks like this is just what i need to lose my excess baggages lol…

Rene cooked Calamares with specially concocted vinegar dip, Fish Fillet out of what they call “rockfish” in boracay with some kind of special sauce, he cooked Fish fillet in special mix of soy sauce and spices topped with veggies, he also made an oatmeal chocolate cookie topped with melted choco that tasted so yummy, its a big hit among the bandiola kids-blessie,maya and elai.

We are advicing Rene to open food business. With the delectable does on cooking, surely it will be a hit.

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Health Insurance matters

Posted by Arelle V. White on February 8th, 2008
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Medicare advantage is one of the things that will help a person get through health maintenance expenses.  With the rising medical costs, it is important to have some form of an insurance that will help lessen espenses.  Without insurances that are paid regularly, higher amount of money will be involved when one get sick and will have to cover the entire cost at once.   Therefore it is highly recommended to have a medical insurance plan to prepare one for untoward health concerns.

And normally, health cards like mine (Caritas) goes with a annual Physical exam benefit and so one doesnt have to be sick to enjoy the investment, not only that, there is usually a 100% payback too, if you are not able to use your insurance within the covered period.

There is almost no risk but all gain if one has some form of medicare advantage. See a Health care insurance provider to know your options.

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Financial Management

Posted by Arelle V. White on February 8th, 2008
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One of the things that each and every person should know is how to manage finances. Admittedly, i have failed in this, but learning how to be well.  With the help of financial advisors, i have become aware that it is very important to have some kind of financial literacy exposure.   As one successful businessman told me, it’s not how much you make, it’s how much you save.

 There are a lot of ways to save money and one good way is to track spending. For example, maintaining several checking accounts can make one lose track of expenses, same goes when you have multiple credit cards where spending limits are not controlled.  That’s why it is good to converge accounts into just one for bank and credit cards, this way, you can closely monitor what goes in and out. 

 I am not saying that one should have only one bank account, it is better to have several accounts where you have one allocated for different purposes, like you have a savings account where you put only your spending money good for three months like an ATM account, then another for checking-to be able to issue checks and the rest for long term savings.

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Market Research

Posted by Arelle V. White on February 8th, 2008
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We have a team of five members who visited Boracay to do a basic market research on the potential of selling real estate properties in the island. 

We found out that last year, very close to 500,000 tourists from all over the world came to the Best Tropical Beach in the World.  And the local government is gearing up for 1 Million visitors by 2010.  There are plans to improve the infrastructure in the island to prepare for the influx of visitors in the coming years, as such, a terminal Fee of P 50 is imposed to tourists and this fund will be used to build better facilities.

There are a number of Condominiums being built in the island which is purposely made to be operated as a Condominium Hotel, meaning, these are units that can be sold to private individuals and corporations who wish to have a vacation place in BOracay and earn on rental income when they rent the units the rest of the time that they are not around.  There will be a corresponding sharing of the rental rates that ranges from 30/70 sharing to 50/50 sharing.  For example, if a unit is rented at $100 per night, then the unit owner gets the $30 and the %70 goes to the hotel operator, or if 50/50 then $50 goes to the unit owner, then the other $50 goes to the hotel operator. There are units that are at $180 and above.

Owning a condotel is one of the best rental properties one can own today, especially of it is situated in a World Class Tourist Destination like Boracay Island. Compared to renting a residential condominium that rents lower and long term, a Condotel is rented at so much higher rates that equates to a bigger rental income, and a residential condo is not maintained as much as a hotel where the unit is made sure to be in its tip top condition and cleaned often.

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