Hello,
I currently am still living in the states but am likely going to retire to the Philippines within the next 2 to 7 years. In the meantime, I am coming to the Philippines once or twice a year for vacation and to learn everything I need to know before retiring there.
I am strongly interested to buy a condo now as a rental investment and might or might not live in it upon retirement.
I am hoping that some of you can get me pointed in the right direction in regards to accomplishing this with minimal risk and maximum results knowing that I won't initially be living there for at least a few years.
I know that I can't buy the land but it seems that I can buy a condo and rent it out for some income. Do I need to work with a Filipino real estate agency to manage it? How do I know who to trust? How to ensure it's kept in good repair if I can't be there most of the year? Do you think this is good thing or bad thing to do?
I will be find down in May for few weeks. I'd like to meet with the right people who can help me while I'm there and hopefully find the right condo to buy.
Any pointers or suggestions would be greatly appreciated!
Salamat po!
Bob