Every story of a persevering Filipino, especially an Overseas Filipino Worker (OFW) is inspiring. As modern-day heroes, they chose to go abroad, far from home, seize opportunities, reach their dreams and aspirations, and provide for their families through their hard-earned money.
But the pandemic has seen their savings spent on more immediate needs, especially since the current situation put the country’s economy into recession. That is why financial experts say that OFWs should consider putting their extra income into long-term investments, like real estate properties.
Vic Sotto believes property investments are safe and a good source of passive income, especially for OFWs considering retirement.
“Investing in property is one investment that OFWs won’t regret, as long as they carefully plan ahead to make it successful. When you have done it right, you will reap the fruits of your labor,” Sotto said.
If you are an OFW, Bossing shows why investing in properties can be the long-term investment plan for you.
Properties have a predictable cash flow
One of the benefits of real estate investments is its ability to provide greater cash flow. Over time, the more you have paid off mortgage payments and operating expenses, the more your net income from the investment increases.
Properties can increase your assets
As you pay down your property mortgage, you build an equity–an asset that is part of your net worth. By growing your equity, you can leverage it to buy more properties, as well as to increase your cash flow and wealth even more.
Properties appreciate in value
Real estate’s value increases over time, especially when you invest and take care of it properly. For instance, a 1,000sqm property in a Quezon City subdivision was worth 150,000 pesos during the 1970’s. Now it is easily worth 150 million Pesos.
Improving the property’s state can grow its worth
Since properties are made of tangible materials, you can change their entire look when needed. Whether you are designing to repair flaws or improve its cosmetics, changing its design will make it more valuable than its previous state.
Properties is a perfect retirement plan
The value and the cash flow of properties increases over time. So, the longer you invest in real estate, the more you can earn in the long run. It makes itself the perfect retirement plan for anyone who wants to continue earning even after retirement.
Condotel?
For OFWs, another option is to turn it into a condotel, which could generate easy passive income. And since the Philippines is an attractive tourist destination attracting visitors every year, it adds to the advantage for Filipino investors. Investing in condotels near tourist spots will grow your chances of success when the economy starts to pick up.
Roadmap to success
Sotto also believes in preventing yourself from making common investment mistakes like choosing the wrong location or asset. Looking for reliable real estate developers will help you lay down your property investment roadmap to success.
For instance, CitiGlobal Realty and Development Inc., a top real estate developeris helpful as it offers affordable and income-generating properties in the country, provides high demand and affordable properties for investors.
The company is currently putting the Philippines’s best tourism locations on the map through their real estate properties like Tagaytay Fontaine Villas, Tagaytay Clifton Resort Suites in Tagaytay, and Diamond Beach Resorts in Palawan, and other upcoming projects.