Buying 2 Condos in MANILA?! Rich FOREIGNERS?! How can we REALLY afford it?

[@MakingithappenVlog]

BALI in EL NIDO Philippines 🇵🇭🤯 Nelly published a new Vlog on her channel 🎥 kzbin.info/www/bejne/jWbLq5mlhsd8eKs

[@girliemarmolejo6189]

Hi , are you planning to have it for rental?

[@jhp1303]

I remember Megaworld during the 90’s and I believe they started way back in the real estate business. When BGC was still being converted from a Military Complex to a Commercial complex, the lot price was just Php 33,000 / square meter during the 90’s. Now it’s around Php 150,000 / sq. mtr. The Bases Conversion Development Authority was established and it’s main purpose was to convert Military Bases into Commercial Complexes like BGC, Clark Airbase, Subic Base, Villamor Airbase (now converted into a Commercial Complex like Resorts World, etc.) and Camp John Hay. Existing Military Bases like the Army and Marine bases beside BGC should be converted into Commmercial lots as they have potentially high valued real estate.

[@denniszenanywhere]

I was being sold the original price then and everyone knew it was worth it but at the time not many middle class people could even afford to buy a property anywhere in Manila.

[@eleanordelosreyes4296]

Congrats to your condos and glad that you're sharing since I considered it as well. I'm a new subscriber and not in vlogging (not yet and subject to change), but an experienced global traveler, gaining cultural skills in countries I visited other than during my studies in my host country. From what I gathered, Mike and Nellie have integrity and are the type that go the extra mile. Much of their vlogs are about helping people, be it Filipino or non-Filipino, which include acommodating foreign tourists and expats with enthusiasm with their several years of living experience in PH. Yet, they don't expect anything in return (giving to get) and the joy is apparent in their lives simply because they are authentic. I can go on and on about them stepping up to the plate and the end results: they are truly blessed in return. Thanks Mike and Nellie for your encouragement and everything you shared because BGC, HERE I COME! Looking forward to see you there in a few weeks. Also Peanut! 😃

[@PinoyinKSA]

Very informative and inspiring. Mike and Nelly works really hard to have all this blessing and they deserved it. That is why their channel is “MAKING IT HAPPEN” coz we can make it happen✌🏼Maybe some people will say negative things about them specially now they have more subscribers. I am always happy seeing them together in the vlogs with Nellys smiles and energy! I hope both of u are alright. Keep Safe and Godbless!

[@Marie760]

I agree about megaworld townships and buying condos pre selling . I did that in Eastwood city where megaworld started its first township in Libis, QC. Bought my first pre selling in 2002 and got another pre selling condo 4 Years ago also in Eastwood . It has now have been turned over and having it rented . I live in the other first condo I bought .

[@friarnewborg9213]

Buying new made great sense 5-10 years ago. Less now, because prices are skyhigh

[@momgie8884]

Magkano down-payment at monthly Kong pre selling or yon lipat nalang

[@jerrymylove1754]

@@friarnewborg9213 I agree with you. The prices are similar to something in Hawaii but half the size. With the amount of supply coming online in the next few years, the prices should come down.

[@dianadepano]

Love this video..I’ve been encouraging my parents that we buy a condo there. They will be traveling there in August & hopefully they can meet up with Ciryl..🙂

[@ryanrhea1]

I like your channel not only promoting beautiful places in the Philippines but business related like property investing, very informative .

[@msjade2817]

Very good investments… You’re a good model for all your viewers.

[@Dream331]

Very good and informative video. My wife and I did the pre-sale thing with the Venice Luxury Residences. I still have pictures of when the mall first started building and when we paid off our condo it was definitely a proud moment for us. The only issue we’ve encountered is trying to receive copies of our final deed of sale. Sadly, customer service isn’t the best but that’s no reflection on Ciryl or the wonderful agent we had who took great care of us. Highly recommend buying a condo in BGC but especially in McKinley Hill. Its such a great area to live in. 😄

[@angelyumol9523]

I totally agree with you in reference to customers service here not only in real estate. I worked as a realtor in Hawaii for 12 years...I retired here 9 years ago...I also bought some properties here too..2 from Megaworld ( GERI )...so I can get a pretty good glimpse how the real estate system work here as compare to Hawaii...sad to say ...no comparison.

[@Dream331]

@@angelyumol9523 Thank you. My wife and I have two condos as well but only one with Megaworld. We absolutely love it. Its very secure. Very kind security guards and receptionist but my goodness, it’s been close to three years and we still haven’t received copies of our deed of sale. We’ve also had issues when it comes to getting small things repaired like a crack in the wall after the earthquake. It took two months to get a promise to fix it but instead we found someone on our own, which is the best way to go. I hate to say those negative things but it’s very disappointing considering this is truly a great place to live. Thanks, Angel. Happy Retirement! 😁👍🏽

[@JoeyPenuela]

Thanks for sharing your input. Would love to pick your brain where are the good buys now in BCG.

[@siu-longleejune748]

This channel is evolving into something especial. As the Philippine economy grows, so does this channel.

[@PUP5674]

Yesssssss 🤓 Definitely would like to see a Step-by-Step video... Please and Thank U 🙏🏼 Stay safe 😷💕

[@raisinggru]

Hey Nelly and Mike Congrats! I guess we're neighbors at St Marks but I didn't buy at Park McKinley though our place is going to be at Uptown ParkSuites. We are in the process of moving there from Texas. I guess we'll see you guys in the neighborhood.

[@TETRARCHFREAK]

Very good info Mike and Nelly buying real estate here in the Philippines seems somewhat complicated but it's good to know information from a professional 👍🆒😎

[@MakingithappenVlog]

Glad it was helpful! 💖

[@vichsaw6132]

the professional only mentioned the 20% downpayment processing (arranged to be buyer friendly to advertise the development and get one to commit.. The professional you mentioned did not mention the financing of the remaining 80% price of the full price of condo which is usually predatory in nature..

[@eleanordelosreyes4296]

I'm enjoying the discussion about Why Manila...? It's interesting to note where historically, the global city has always been the center of international trade and commerce since Pre-Colonial (Pre-Spanish/Hispanic Period). The islands at that time without a name was a part of the Silk Road Trade route that started in the Middle East onto Central Asia (e.g. Afghanistan, Turkmenistan) and finally to Southeast Asia to the Pacific, namely the Philippines and neighboring islands. Even more interesting, the ancient Greeks and Romans knew about the famous Silk Road's existence, although it was said that there were no evidence on their presence in that part of the world except for Macedonian Greek Alexander the Great (356-323 BC) and Italian Marco Polo traveling to China and throughout the region in Medieval Period. Manila, overall, was ruled by small Islamic kingdoms before the Spanish Conquest and participated in international trade and commerce and well documented in the Laguna Copperplate Inscription (Museum of Anthropology, Manila) dating in 900 AD (corresponding with the Gregorian Calender). Manila was thus an important city of trade and commerce followed by the Spanish Conquest that was known as the Manila-Acapulco Galleon Trade (between The Philippines and Mexico as Spanish colonies) that lasted 250 years and established by the Conquistador Miguel López de Legazpi (first Spanish-Governor General) along with the Spanish Augustinian Fray/Navigator Andres de Urdaneta under Philip II. If you go on Manila City Tour, you 'll be able to know about this part of history. The Spanish Colonial Government of Manila from the Intramuros allowed certain Chinese migrants since China was a very important country in trade and commerce from Pre-Colonial (9th-16th Centuries), leading to the founding of the first Chinatown in the world in Binondo, Old Spanish Manila across from Fort Santiago (Intramuros). It would only make sense today as to why there are a plethora of stuffs, such as trinkets, household things and toys in Quiapo and Divisoria, to name two, and to high end goods in luxurious shopping centers and malls. With Manila as the capital city from the Spanish Colonial Period by Philip II of Spain bearing his name, it would be erroneous to say that the Philippines is a 3rd world country that contradicts its participation in the Silk Road in Pre-Colonial and as a colony of the Great Spanish Empire and then the US (1898-1946). It is thereby not surprising as to why the Philippines today, despite certain restrictions, is home to expats, including those from the western world and as prime location of world corporations and international businesses. Thanks for the update on real estate.

[@TheTruth-dy8ze]

Some condo project developers have a clause where the owners have only a lease for a period of time and you basically own the condo but not the land it sits on. Not sure about the area being talked about but it’s important to know this as with a short lease you will have devalued property to sell in the future.

[@kim0788]

I do not think you can own the land it sits on, imagine the number of floors in a condo and the other floors aligned to your plot? I am not sure if you even know you the difference in leasehold and free hold properties. If it is one floor, one flat -then maybe there won't be a lease hold type but likely it will be leasehold due to multi floored properties! and short lease - you maybe referring to commercial properties and not residential ones!

[@bigbasteo989]

Very informative. I notice Nelly is glowing and losing weight in a good way; she is stunning. Mike and Nelly, you two look great together as always.

[@goodvibes8685]

I hope you guys are okay. Just keep it up and we're always here for you. Your followers.

[@FilSwede1417]

Thank you for this, its a big help in our decision when we move to the Philippines. Love to have that detailed video that Mike referred to about the steps in buying a condo. Congratulations on your 2nd unit!!

[@alreyes1877]

Mike and Nelly, the first business owner millionaire in the Philippines.

[@DaebakDaemon]

The 40-60 rule is a pain in the butt, even in businesses, any foreign entity cannot own a business wholly, they needed to partner with a Filipino to be able to establish a business here, that's actually not helping the economy of the Philippines as this type of rule will drive foreign investors who could potentially give decent jobs to people away.. some of the foreign investments from Japan for example were being transferred to Vietnam as Vietnam is open to 100% foreign ownership of businesses, glad that the newly elected President is open to scrapping the FDI restrictions to revive the economy, and that should really be beneficial to both foreigners and Filipino locals in uplifting the economy, not much to "monopoly-driven" businesses though as they are going to have competition, but competition is good as it will make them improve much of their services, just recently, Starlink of Elon Musk was given a go by the National Telecommunications Commission to have their business here of providing faster and better internet for the Filipino people, and guess what, PLDT has improved their services, 75% to 90% uptime and little to no downtime. Scrapping this ugly 60-40 rule of the FDI restriction will be the most valuable decision the congress of the Philippines will ever make, I do hope they correct the constitution as soon as possible.

[@romar30567]

F.Y.I. The PH Government trough The Philippines Senate has passed the third and final reading of Senate Bill (SB) 2094, which amends the Public Service Act by enabling 100 percent foreign ownership of public services.

[@edgardoaguilar8136]

That 60-40 rule is just for land ownership, I think. Any foreigner is welcome to own condos in the Philippines because the ownership of the land on which the condo building stands, is shared by all the condo unit owners. The condo developer can only sell 40% of the units to interested foreigners, to comply with this land ownership rule. As for any legitimate business endeavors, foreigners are welcome to set up any business investment in the Philippines, and own that business 100%, except for the land that the business is built on. If the business requires use of land, the land has to be leased from Filipino owners. The foreign business owner cannot have 100% ownership of the land, but he has 100% ownership of his business.

[@alphaasiongfull]

Pro Federal-Parliamentary and OpenFDI 💯✅

[@DaebakDaemon]

@@edgardoaguilar8136 not just land ownership, businesses like Ikea for example is 60% owned by a Filipino, and I was surprised they settled for that 40% ownership.

[@ryanrhea1]

I wish newly Pres BBM will change 40-60 rule to 100% Foreign ownership. Long Live Philippines

[@rommycayago8353]

This is another level up vlog!

[@evasexpatlife3667]

This is interesting and thank you for sharing! 👍😀

[@MrandMrsLo]

Hello guys, I hope all is well. My wife and I watches all your videos and they are all so informative. We are so proud of you guys, respectful, friendly and so professional couple. Stay safe and healthy always, may God bless you both always.

[@rodrigoduterte8337]

Finally,, both of you in the same vlog.. 😁😁. Thanks for staying in our country.. We love u guys..

[@hildegardemadeja1549]

wow thanks mike and nelly 🙏 very nice and congratulations

[@funkiemonkie5976]

I always enjoy mike amd nelly vlogs so informative

[@noeldelapena4003]

First time seing Cyril she's Gorgeous no mask...

[@jessalvo6375]

This clarified a lot. Thanks guys.

[@truetraveler7588]

Properties in the Philippines are inexpensive. In the U.S especially in California houses is expensive. A lot of people cannot afford to purchase a house. People rented the barrage to make it a small house. It's crazy how expensive the houses in the U.S.

[@christopherleroy5447]

some would say the $ you make in cali is crazy

[@mahrdelacruz4909]

Sulit = "worth" / " worth it", What cyril meant was that it's worth it appearing in your vlogs, probably she gets a lot of new clients.

[@cecillegaliga6743]

Wow congrats to both of you and thank you for loving my country Philippines....we love you both 🥰🥰🥰🥰

[@MakingithappenVlog]

Thank you! 💖

[@cecillegaliga6743]

@@MakingithappenVlog welcome mike and nely....🥰🥰🥰

[@KiaNgan-ni9ud]

Good luck on your new business venture🥰

[@joanna6787]

Congratulations on your investments!👍👍

[@ejbasa]

Just reserved a unit thanks to you guys… Thanks to my sister i was a bit more convinced to approach Ciryl, and lucky enough she was very helpful with my needs. Keep up the great job you guys 🙌

[@Fk74303]

Now, I am into it…. I was in Manila for two months and iv thought of myself getting a condo but I don’t know where to ask or turn to or how to get a condo..since I am not a Filipino citizen

[@myfitnessjourney7414]

Hi there I am Chelle from SM Development Corporation I am an international Property Specialist, I can present you our condominium projects via zoom

[@NoName-kd1wu]

Im happy to see you guys!

[@supremeguru5770]

I worked in U.K for 8 yrs and I I bought 2 house's in Siargao and Taal Batangas after 5 yrs sold them both made 6million profit . I buy and sell . This was before the pandemic 2019 . Im one of your subscriber . I have my own business here in Manchester selling E-bikes . I just bought a property for Airbnb .

[@Thrivinglife3835]

Wow! Good for you. Same here in California..

[@peoplesconscience]

Everywhere condos, subdivisions , buildings mushrooming left and right. What’s gonna happen will be the Metro Manila and suburbs would become an urban concrete jungle devoid of vital eco friendly agriculture and essential food producing lands. Lands that could bring huge resources and income to the country, not just to feed the hungry but generate export dollars to benefit the country not just the 1% ultra wealthy billionaires here.

[@Kroenicbleu]

You guys are awesome. More blessings to come.

[@happyvibes1683]

Best of luck Mike and Nelly! God bless you both!

[@bisayakaayo8595]

wow that is amazing , younhave so many properties now!!!

[@LuvMyLilBabe]

if you have that kind of payments term in Canada it would be sold out in 24 hours! 😂

[@eleanordelosreyes4296]

Also in the US, especially in SoCal for that price. About $1 million for a small condo and a medium-sized beat up house in SoCal.

[@abc-cj2bl]

We are so ready to be as awesome as making it happen team!

[@jeffreydelacruz9073]

Excellent Vlog content. More of this kind please. More power to you Mike and Nelly.

[@adelinahipolito67]

U deserved it to buy condo. Mike, Nelly. my favorite vloger🇵🇭❤️👍😊

[@yvonnebondoc8707]

Very interesting. We’re planning & i will try to check it. Thanks for this vlog. Stay blessed from ireland

[@chicoringler]

Buy Ayala Condos or Ayala devt too or Rockwell

[@dennisb7930]

The building in Philippines is really unbelievable the quality is very good too wow she’s a very good real estate agent very pleasant is she married☺️

[@gericornista8133]

This is a very good & very helpful video guys! Now convinced actually!

[@jeanryno6319]

I am very interested, I would like to see the step by step on buying a condo and other videos you have made about buying a condo.

[@nimfasoriano15]

We are so proud netizens that you are both ❤️ love to stay in our country.

[@bensellorsofficial]

Hey guys, step by step guide would be really great! Thanks 😃

[@johnjeffries6596]

Thank you mike and Nelly for sharing your video its so interesting good luck to you both god bless and stay safe always ❤

[@ednel143]

Yes please a step by step guide on buying condo in Manila

[@Islandboy1900]

Love this Q&A....thanks for sharing the knowledge! 🙌🏼🤙🏼

[@josepalma3312]

Excellent presentation. I will contact Cyril soon

[@dms_]

Servus Mike und Nelly! Erstmal, herzlichen Glückwunsch zu Ihren Investitionen! That's a great idea Mike! We would like to watch a video of the process on how you processed things with your condo. I am now living in Germany and auf jeden Fall, i also plan to invest.😁 It would help us and will definitely give us information about it. Vielen Dank und Liebe Grüße von einem Ihrer Abonnenten in Deutschland! Machs gut! 🤗

[@Ails0]

Hi guys thanks. I am very interested to know more like capital growth rate and rental returns on property as in your you tube Vlog

[@perlaaguinaldo]

Thanks for sharing information about buying a house. Good to see you two staying here and loving our place phillipines ingat always mike and nelly and God bless you two always. ✌👍😻🙏🙏🙏

[@carlcarlospaglinawan4042]

Hi thats a very good imformative vedeo on how to buy and own a condo thanks i do like it. But thers one thing Mike and Nelly you forget to ask and tell us you did not tell us if Cyrill L is still single or taken already hahaha . . . shes so lovely and beautyful.

[@ernieabrams5916]

Great video we purchased our condo preconstruction and started making payments right away so by the time the condo was completed it was completely paid for at zero interest. Our benefit was a lower preconstruction price and your benefit is that you were able to live in your condo while you were making the payments

[@EriqueJamesFronda]

I am interested. Maybe next year 🙏🏻

[@bogzg9982]

Great info. Let’s see that step by step blog.

[@prescillagcon]

Thank you for this! We thought we need to get our dual citizenship first to buy a condo. We will get it eventually. We decided to not buy a house here in the US and just invest in the Philippines since we planned on moving there and send our son to school there anyway. We can’t wait to go next year. Excited to see BGC since we love this kind of lifestyle. it’s one of the reason why we still don’t own a house in the US 😅

[@myfitnessjourney7414]

Hi Priscilla I am Chelle from SMDC I am currently living here in the US. If you have plan buying a condominium in Ph I can present you our project.

[@myfitnessjourney7414]

That’s my fb we can talk in messenger or zoom 😊

[@teddedios991]

Good investment, and one lucky broker....

[@juantamad229]

the government has eassen up a little in terms of restrictions to foreign ownership..even in investments..

[@ruelvicoy9221]

Congrats Mike and Nelly nice couple.

[@dominicbustamante730]

Cyril is cute.😊

[@chilliwarzner1886]

Verynice vlog very informative lets go 1m subs. 😁🥰🥰

[@angelramabtsarmy3667]

Wow congratulations

[@enricoguess6457]

Positive objects Mike and Nelly to own a real estate in the Philippines, god bless both of you.

[@edwinalvinmacaraig964]

Nice to see you both in 1 vlog once again and making a very sound investment at that 😉

[@dhingkaygolo9112]

Wow 😳 congrats Mike and Nelly on your new Condos..keep safe always..God blessed you more👍🙏🙏🙏🇵🇭

[@chrisfrizzell7197]

I love it I am in the process of getting my first condo in Philippines 🇵🇭

[@hunk0075]

This is a very interesting vlog. thanks mike and nelly.

[@leonorcox9827]

Yes do a q and a for realstate with Cyril your agent more show the properties thanks,

[@justmeonthebeach]

Condo has a lifespan in the contract... until 50 years only... But yes, foreigners can only buy condos and not land properties... One time, someone wanted to buy a condo in Boracay and made a deposit, but in the end, did not get it..

[@herminiadelgado6595]

I enjoyed and got information about getting a condo in Manila, good for both of you.

[@jayneh2006]

Wow!!! Now you made us to decide to buy a property there.

[@shilpidixit2443]

Very nice, precise and informative 👍

[@edr_tv]

Mike ❤️💪🏻🇵🇭 Keep safe

[@MakingithappenVlog]

thank you 💖

[@clistens4102]

Good work. Step by step guide please.

[@shermich90]

My parents buy condos. What they do is to buy it one at a time and rent it out. So when they pay the new condo, they use the rent money from the previous condos. Essentially not spending anything on monthly condo payments

[@lemnikim7388]

Thanks for the real estate info Mike &Nelly. Also thanks to Cyril.👍🏼❤️

[@Paulo-ov4yo]

Didn't know foreigners could buy & own property in the Philippines 🤔

[@mariawyse5933]

They cannot own lands but they can buy and own condo units.

[@TOXICNURSE]

Wow after watching this video i was enlighten and willing to sell one of my condo in MOA and get a condo here in Megaworld! Thanks Guys

[@neftyshokoufeh]

Mike, my suggestion is for you to get your Real Estate LIcense in Manila. Perhaps partner with Keller Williams Realty, you can be the go to guy for the buyers abroad. Lol

[@mmmotives7452]

Filipino people need the jobs....therefore let them benefit!

[@glennrk8249]

Very interesting! Specially the payment terms and the developments on the long run..

[@braz525]

Very informative. Nice content!

[@dhawkr.3678]

Yes do live real estate Q&A. Thanks

[@ngajr4410]

Just a comment on the zero interest, it is just another way of marketing strategy. Because you get the biggest discount with cash payment. So a cash price is the lowest, meaning the actual price and the std terms will be the highest price which translates to the interest tacked in. Nothing wrong, just a euphimism for buyers. Zero interest?

[@TomBTerrific]

4 years of zero interest sounds great providing the price your paying a fair market value. 70% are abroad buyers how does that affect the 40/60 rule? Another thing you need to consider. A friend bought a condo in Makati. From his condo I could see several very large buildings that were old and vacant. The seemed to be usable but that was from a distance. I don’t know why but I think they were going to be torn down. So what’s the life of a condominium project? What happens to your investment then? As you only own the unit how can you be assured the condo you buy will be preserved?

[@robocop581]

Balikbayans, particularly from North America, are considered Foreign buyers but excluded from that 40% Foreign ownership group. Balikbayans buy condos in Manila for investment but mostly as a part time retirement place.

[@felipeenagetv7677]

Welcome to the Blessed Philippines 🇵🇭 congratulations to both of you. God bless you more together with your whole Family po 🙏 ✨ ✨ ✨

[@eriksanchez7834]

Informative. I know why you bought 2 condos. Answer: Cyril is a good salesperson.

[@fliflaflu2659]

the catch is that the properties are priced way above the real market value

[@generosetepait2549]

But you can avail as low as 50% discount if you pay half down payment.

[@machoguapito76TV]

I own condo in manila I love it very convenient.

[@Koya_Sipanlog_Express]

I wanna buy! will email Cyril soon!

[@renatzkigab2616]

Oh I guess this couple buying two condos for the reason that in the event they could be not both in good terms they could easily pack up and go their designated condos or for their visiting families in the future. Oh so sorry of my first guess it sounds very offending. You are an ultimate guide of your kind to visit or perhaps to live here in our dear country. Danke schön!

[@callmemaybe8400]

They broke up already

[@nicholas6823]

I am most interested to learn about qualifying for a bank loan and the rates after the payment terms with MW end. It is generally sort of glossed over if the subject is brought up. I have never heard anyone talk about the process and the challenges of that in the philippines. Very few will be able to pay the balance outright, so this is a real practical element of buying a condo.

[@francissaunders6348]

Still no valid response. Lol

[@Manifestation_Savant]

I live in NJ, USA and interested in learning more step by step process for foreigners

[@foreveryoungsy3511]

Cyril is so precious jewel in my eyes...