Another question from a subscriber:
“Salamat sa mga advise mo at mga magaganda mong mensahe. may katanungan sana ako.
Ibig ko sanang magpatayo ng apartment at siguradong halos lahat ng kinita ko ay mapupunta sa binabalak kong apartment na ipapatayo, tama po ba ang disisyon ko na apartment ang napili kong negosyo?
20 yrs na po ako sa Saudi at malapit na rin akong mag retiro, kaya ilang beses ko rin pong tinatanong ang sarili ko na tama po ba ang desisyon ko?
Salamat po!” – Deo
ANSWER:
Wait…before I answer his question, I just want to say this…
Special sa puso ko ang mga OFWs. I love helping them. Do you know why?
Because my Dad was an OFW for 10 years.
And with his sacrifices, I and my three siblings were able to finish college.
Kaya taas ang kamay ko sa mga OFW. Mabuhay kayo!
Ok. Now let’s talk about business.
Is an apartment business a good business?
Before I give you my “Super Duper Expert” answer, I’ll need to bust the BIGGEST misconception about business and that is…
“Pag may apartment ka na, kukubra ka na lang ng kita buwan buwan.”
Naaahhh!
That’s not true. Rental apartment business is still a business and not an ATM machine.
I know because we have several apartments and old houses for rent in a key location in Pasay City.
So if you think apartment is an easy business, you’re wrong.
Like other business, you need a constant stream of customers.
In this business we call it tenants.
Truth is, you need to “work” (Yes, work), to keep your apartment full.
So that means you need to do some marketing to attract tenants in your apartment.
No tenants = No money.
Now, you can’t just get any tenant.
IMPORTANT: Not all tenants are equal. Marami sa kanila ay sakit ng ulo.
Makakarinig ka ng isang libot isang dahilan kung bakit sila ma de-delay ng bayad.
“Nagkasakit ang nanay ko e.”
“Namatay yung tiyuhin ko.”
“Na late yung padala ni mister.”
“Na hold-up yung anak ko.”
Some will suddenly disappear na parang bula.
So you have to scrutinize your potential tenants.
And after you have a tenant, you next job is…
…to keep them happy.
If they’re happy, they’ll stay in your apartment.
Making them happy could mean…
…safety and security in your properties.
…proper supply of water and electricity.
…no flooding o tulo sa bubong.
Sirang gripo. Baradong inidoro. Pundidong bumbilya.
Lahat yan, you need to fix it quickly.
In short, apartment business is like any other business.
You have to market your business and keep your customers happy.
All clear?
So is apartment business a good business?
Yes!
Most specially, if you have lots of cash to invest in buying real estate properties.
Matutulog kasi ng mahabang panahon ang pera mo sa apartment.
So keep that in mind.
That’s all for now.
Mwah!!!
By the way, you can hare your thoughts and comments below.
I am also OFW and engineer in Saudi arabia for 10 years on & off lang ako kc many times I changed my employers at so far naka pag pundar nako ng 12 doors na studio type apartment just completed last year, at awa ng diyos puno naman ang apartment ko, sa ngaun misis ko nag mamanage medyo hirap rin sya, kya I already decided to just finish my contract, go home and just to manage my apartment since the economy in saudi now is not in good..based on my computation I can recover my investment in 10years time kasi un lupa binili ko rin plus un pagawa ko ng bldg. for me apartment is a good and positive business atleast pag sa pinas nako may mapagkukuhaan ako ng pang gastos at pang sustinto sa pagkain at pag aaral ng mga anak ko..ang isa lng problema sa atin medyo malaki rin babayaran mo sa mayor’s permit at BIR sa totoo lng sila muna ang kikita bago ikaw makabawi kaya lng wala tayong magagawa un daw ang batas sa atin..