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buying a place in philippines working in korea
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greyhound



Joined: 10 Jun 2016

PostPosted: Mon Jul 11, 2016 2:01 am    Post subject: buying a place in philippines working in korea Reply with quote

I checked out the prices of condos and houses with lots in the Philippines at the weekend. I just got an email from a Philippines bank too and you can get a loan while working out of the country apparently, well they actually say they can process the loan application even though you're out of the country.

They do say you need a Filipino wife to buy a home though but I thought that was just for a house and lot. I thought you can buy a condo without a wife.

Anyway, you can get a condo or a house with lot for about 2m PHP which is roughly £32000 I think. Of course you can spend more if you want as well. The maximum loan to value is 70-80% so you will need 20% cash payment which is under £10,000. Would it be worth getting one I wonder once you've saved up a deposit and renting it out while working in Korea? The rent would pay for the loan then. Mind you I also think I saw that one bank at least says it is for owner occupiers only the loan. But this bank doesn't seem to stipulate this. I suppose you could say it's for your own use if need be and then just rent it out anyway. Landlords in the UK do this sometimes.
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Mon Jul 11, 2016 4:48 am    Post subject: Reply with quote

You can get a wife without having to buy a condo too.

Most of the time they are cheaper than a condo.

.
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CentralCali



Joined: 17 May 2007

PostPosted: Mon Jul 11, 2016 5:08 am    Post subject: Reply with quote

ttompatz wrote:
You can get a wife without having to buy a condo too.

Most of the time they are cheaper than a condo.

.


I've my doubts that the OP could get the wife in the first place.
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tophatcat



Joined: 09 Aug 2006
Location: under the hat

PostPosted: Mon Jul 11, 2016 5:25 am    Post subject: Reply with quote

Get another payday loan in the UK. Use it to start your business in Korea and buy the home in the Philippines.
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greyhound



Joined: 10 Jun 2016

PostPosted: Mon Jul 11, 2016 5:26 am    Post subject: Reply with quote

Yes I already have a few female contacts lined up. Laughing
But seriously, you could own a place real cheap in the Philippines then. You can't get a place for £32000 in Korea I don't think.
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greyhound



Joined: 10 Jun 2016

PostPosted: Mon Jul 11, 2016 5:30 am    Post subject: Reply with quote

tophatcat wrote:
Get another payday loan in the UK. Use it to start your business in Korea and buy the home in the Philippines.
FYI I have got £3500 saved up in the bank. it was £4k but I spent quite a bit on the visa and what not over the last month. That's half of the deposit required for a loan probably. Plus if I have a word with the godparents, they might send 5k if I said I was getting married or something. I doubt they'd send it otherwise but if I was getting married they might "think" about it. Bumpkin Billionaires.
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drcrazy



Joined: 19 Feb 2003
Location: Pusan. Yes, that's right. Pusan NOT Busan. I ain't never been to no place called Busan

PostPosted: Mon Jul 11, 2016 6:00 am    Post subject: Reply with quote

So, the plan is to go fromtheuk Laughing to the Philippines, and then commute from the Philippines to Korea to be an EFL teacher, or own a hogwan, or what ever your new BS is.
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drcrazy



Joined: 19 Feb 2003
Location: Pusan. Yes, that's right. Pusan NOT Busan. I ain't never been to no place called Busan

PostPosted: Mon Jul 11, 2016 6:05 am    Post subject: Reply with quote

greyhound wrote:
Yes I already have a few female contacts lined up. Laughing
But seriously, you could own a place real cheap in the Philippines then. You can't get a place for £32000 in Korea I don't think.


So, you have made progress since http://forums.eslcafe.com/korea/viewtopic.php?t=236259&highlight=

Laughing
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greyhound



Joined: 10 Jun 2016

PostPosted: Mon Jul 11, 2016 6:19 am    Post subject: Reply with quote

No, you can't read Dr. I said you can rent out the condo in the Philippines not commute from Philippines to Korea. Are you crazy? The only problem with renting out is there may be periods when you don't have a tenant so you would have to pay the loan yourself then. My friend has a property in the UK he rents out and sometimes the tenant leaves so he has to pay the mortgage payment himself.

I am not that person who you gave the link to.
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greyhound



Joined: 10 Jun 2016

PostPosted: Mon Jul 11, 2016 6:30 am    Post subject: Reply with quote

CentralCali wrote:
ttompatz wrote:
You can get a wife without having to buy a condo too.

Most of the time they are cheaper than a condo.

.


I've my doubts that the OP could get the wife in the first place.


Well YOU got a wife from church of all places. Normally you go to church to pray not look for a wife. I should know, I played the organ for 23 years at a church in the UK and got £25 each time which I spent at a country pub after having Sunday lunch.
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CentralCali



Joined: 17 May 2007

PostPosted: Mon Jul 11, 2016 8:07 am    Post subject: Reply with quote

greyhound wrote:
CentralCali wrote:
ttompatz wrote:
You can get a wife without having to buy a condo too.

Most of the time they are cheaper than a condo.

.


I've my doubts that the OP could get the wife in the first place.


Well YOU got a wife from church of all places. Normally you go to church to pray not look for a wife. I should know, I played the organ for 23 years at a church in the UK and got £25 each time which I spent at a country pub after having Sunday lunch.


What are you on about? I'm not married.
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greyhound



Joined: 10 Jun 2016

PostPosted: Mon Jul 11, 2016 8:26 am    Post subject: Reply with quote

Oh sorry, I got the wrong guy. Someone on here said he got married to a Korean he met at church. I got mixed up with who it was. Apologies Embarassed
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CentralCali



Joined: 17 May 2007

PostPosted: Tue Jul 12, 2016 1:20 am    Post subject: Reply with quote

Anyway, what's wrong with meeting a woman in church?
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greyhound



Joined: 10 Jun 2016

PostPosted: Tue Jul 12, 2016 2:08 am    Post subject: Reply with quote

I don't know. I suppose you could meet someone at church but usually you don't fall for people in church. I never knew in 23 years playing the organ of anyone getting married from my church. One woman wanted to marry someone I think after he lost his wife but he didn't want to or something. That's about as close as I can get to know someone marrying from church. Are Koreans religious then? I know Thais are Buddists but I don't know about Koreans.
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edwardcatflap



Joined: 22 Mar 2009

PostPosted: Tue Jul 12, 2016 3:07 am    Post subject: Reply with quote

greyhound wrote:
I don't know. I suppose you could meet someone at church but usually you don't fall for people in church. I never knew in 23 years playing the organ of anyone getting married from my church. One woman wanted to marry someone I think after he lost his wife but he didn't want to or something. That's about as close as I can get to know someone marrying from church. Are Koreans religious then? I know Thais are Buddists but I don't know about Koreans.


That's because if you're from the UK the only women you associate with church are over 60 and wearing hats. It's not like that in other countries. E.g. The States
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