Until now, most of the world’s and the Philippines great wealth come from real estate. We live in a finite space but the population is continuing to increase. Realizing that man will eventually have no more land to build houses on, the high-rise structure was born. Buildings are now becoming taller and taller to accommodate the ever increasing population and the value of real property is nonstop in its rise. This is especially true in large conglomerations such as Metro Manila.
Real estate investing is therefore an excellent idea. Being in the “house for sale” industry is very good, so is selling and renting out condos (Philippine condominiums).
A real estate property can generate continuous income through rentals and it can be used as prime collateral in financing a new business or the acquisition of more properties. Over time, the property accumulated would have tremendously increased in value and the common Tao of yesterday would have become a wealthy man, several times over.
Real Estate Success
There are many such men in the Philippines and all over the world. Some years ago, an entrepreneur bought a small piece of land and borrowed to build a 5-storey apartment. The property’s rental income enabled him to pay his obligations and after a few years, the bank increased his credit line. He borrowed anew to buy an adjoining property and built another apartment building. Within 15 years, he already had seven of such properties. The last time I spoke to him, he was about to start another construction, the latest among his several Makati condos. This time, he no longer needs the banks.
And what did he do all those times? Nothing much. His first years required a weekly visit to every property. He took notes of the improvements needed and collected payments from his tenants. After a while, he hired a manager for each building and simply conducted surprise inspections. For the rest of the time, he drove his kids to school and went on annual overseas vacations with his family.
He looks as young as when I first met him and it is not surprising at all. He was hardly stressed all these years. Invest in Philippine real estate, accumulate wealth and live happily.