With proper knowledge in real estate investing, OFWs can be assured that every cent of their hard-earned money is put into good use once the investment starts to yield into a significant ROI.
Working far away from home is one of the sacrifices that each and every overseas Filipino worker make for their families. The countless occasions from birthdays, graduations, holidays, and even childbirth are just among the most common milestones OFWs miss. And how can we forget those heartbreaking airport scenes of a child desperately clinging on to their Dads holding back their tears who are about to board the plane and a wife sobbing right beside him? Yes, how can we forget that?
It’s no wonder that when asked what is the priceless Christmas gift they can receive, their answer is to be with their families all the time and see their children grow, achieve in school and in their careers, and witness how they, too, start their own families. But not everybody knows that that priceless gift can, in fact, be a dream come true if the income is sufficient enough to provide for their families’ needs without leaving the country.
This is how real estate investments become a feasible option for OFWs to venture in. Find out what are the options to consider when it comes to investing in real estate and start the money rolling.
- Purchase a condo unit and have it rented out
There are several ways to do this such as registering the unit under Airbnb for tourists and expats who are looking for a place to stay in the metro. Yet another option is to have the unit rented out to a family or a young professional depending on the provisions of the acquired unit. Rent payments will vary depending on the contract such as on a yearly or on a per stay basis.
- Buy a property and have it leased for commercial buildings
One very suitable option is to buy a piece of land situated near malls, schools, government buildings, and offices. These areas are a viable alternative for business owners who would like to take advantage of the strategic location. OFWs can maximize this option if constructing their own commercial buildings over their property won’t be cost-efficient. Another option is to build an events place and have it rented out during occasions.
- Venture into agribusiness
If there are relatives residing in provinces, this is one option to look into for OFWs who would like to venture in the agribusiness sector. Also, properties in the provinces have a slightly lower market price compared to properties sold in major cities. The agribusiness product can be determined based on the location of the property and what is the current demand in the community or neighborhood. The agribusiness will only be profitable if there is a high demand.
- Utilize foreclosed properties
Foreclosed properties are sold at a relatively lower price compared to new properties. There are some slight considerations though that must be taken into account when investing on a foreclosed property. One consideration is the condition of the property and to what extent are the repairs needed. Calculating the expenses for the repairs will help in deciding whether acquiring a foreclosed property is better than buying a new one.
- Invest in resorts and other properties near tourist spots
Transient homes such as the ones in Baguio City are a good real estate investment. Next to them are vacation homes and yet another alternative is converting a real estate property to a resort if it offers recreation opportunities such as a tourist spot. An example of this is the hot spring resorts in Pansol, Laguna. But the options can extend to as far as beach resorts, mountains lodges, garden resorts, and a whole lot more.
Every single cent of an OFW’s hard-earned money will never go to a waste with all the countless possibilities that real estate investments offer. Indeed, Christmas will no longer be the same once the real estate investment brings in profit enough as provisions for the families’ needs. There’s also a possibility for a steady growth of income which can end up double or triple than what an OFW earns abroad given the complete knowledge on handling real estate investments. With this, Filipinos working abroad can now go home and celebrate the holidays with his or her loved ones every year without limitations but only endless shared memories worth keeping.
