Many Filipinos who work abroad are regarded as the present day heroes of the Philippines for all the sacrifices they make to provide their families with a more comfortable living. Aside from supporting their families’ daily expenses, one of the dreams of OFWs is to be able to earn from investments.
One of the saddest realities for OFWs is to be scammed by unscrupulous fellow Filipinos. This was flagged by the Department of Labor and Employment (DOLE) and the Philippine Overseas Employment Administration (PDEA).
OFWs were recently warned against participating in investment schemes offered by fraudulent entities. Imagine, all those money earned from working so hard day and night goes down the drain in an instant due to an investment scam.
For OFWs who are ready to invest, allocating your hard-earned money in real estate is one of the most solid and stable options there is. Here’s why.
While at it, investing is different from buying a house and lot for your family’s own use. This family home is your own place, an assurance that you will have shelter when you eventually come home after working abroad.
Investing means making profits from the property you bought in cash or acquired through bank loans. You invest and reap the returns. That’s how real estate investment works.
While working abroad, saving money, and waiting for the right timing to settle in the Philippines for good, you may invest in a property that would provide you with passive income. It refers to earnings derived even when you are not actively involved in its operation. It results in cash flow that you would receive regularly. Your choices of revenues are plenty. Some great examples are below.
Buy a unit and have it rented out. The favored option nowadays is to turn your unit into an Airbnb home to cater to tourists looking for a place to stay. You may charge on a per stay basis. Of course, you may always rent it out to relatives or friends so you can be assured that they will take care of the unit as you would.
If you have the financial capacity to buy land, you can opt to develop it into a commercial building. You can have as many units as you want and offer it for long-term lease. However, if you will invest in this, make sure to consider lots in strategic locations.
Property conversions are also common today. For example, ancestral houses in the metro are being converted into cafes or restaurants. You may do this, or you can buy a property and turn it into an events place. Anywhere near a tourist spot is a viable option.
Idle land you purchased some years ago can also be turned into a camping ground, resort, lodging inn, bed and breakfast or garden spa, now that the recreation opportunity is here to seize.
This one’s not for everyone, and certainly, not applicable in all locations. The outskirts and provinces are more appropriate when it comes to turning a land you acquire into a farm or poultry business. This is not just because of the location, but also because of the affordability of real estate properties in the provinces. This way, OFWs may save more money and devote the investment on the actual cultivation of the land.
The products you will choose to produce and market will depend on the demand, so you or someone you trust must establish the feasibility of those products first before you start digging. Then again, you can never go wrong with planting fruits or vegetables that you can sell in nearby towns or city centers.
Any real estate property you will buy or acquire without the intention of selling it or earning from it in the interim is as good as passive profit because land appreciates in value.
If you buy a house and lot unit now for Php900K like Amaia Scapes San Fernando, its value could be thrice as much when you return to the Philippines a couple of years from now.
It could be more if you invest in a condo and if the residential building is located in a prime location. Perfect examples are Amaia Steps Alabang in Muntinlupa, Amaia Steps Sucat in Parañaque or Amaia Skies Sta. Mesa in Manila.
Aside from all the financial aspects of owning or investing in a property, any property acquired can give a sense of security and peace of mind. With every investment made, it may shorten your stay abroad. You will be able to come back home to your families here in the country. It may be bittersweet, but a property under your name is a personal satisfaction that all OFWs aim for – a fruit of one’s own labor.