RedBook
EscortsPremier Adult Entertainment Community HOME | ADS | FORUM myredbok
Subject: "condo hotel angeles" Archived thread - Read only
    Previous Topic | Next Topic
printerPrinter Friendly view    
Conferences > Regional > International Variety > Topic #7238
Reading Topic #7238

angelesrookie
Member since 18-Apr-10
33 posts		 03-Jul-10, 08:34 AM (PST)
Click to send private message to angelesrookie angelesrookie profileClick to add this user to your buddy list  
"condo hotel angeles"
 
   LAST EDITED ON 03-Jul-10 AT 09:04 AM (PST)
 
anyone here purchase a condo hotel in angeles?
lewis grand is constructing one off fields
named the penthouse.
what are the pros and cons buying a unit,
they advertise up to 15percent return after
expenses. I was acturally looking for a nice place
where I can stay 3-4 months out of the year as an alternative
to paying the hotel. TIA

  Alert Top

 
Conferences | Forums | Topics | Previous Topic | Next Topic

tavarez tavarez rating
Member since 9-Jul-09
800 posts, 20 feedbacks, 40 points		 03-Jul-10, 10:24 AM (PST)
Click to send private message to tavarez tavarez profileClick to add this user to your buddy list  
1. "RE: condo hotel angeles"
In response to message #0
 
   I would think the obvious cons would be a sudden change in their economy, politics, a shut down of angeles, poor management of the condo, laws concerning expat ownership... IMO much better idea to rent while at angeles.

Speaking of which, I may be in town the last 2 weeks of July doing some of the touristy stuff. I hope to swing by angeles for at least a couple of days.

tav

  Alert Top

onlylooking onlylooking rating
Member since 25-Nov-02
1871 posts, 12 feedbacks, 23 points		 03-Jul-10, 01:36 PM (PST)
Click to send private message to onlylooking onlylooking profileClick to add this user to your buddy list  
2. "RE: condo hotel angeles"
In response to message #0
 
   How many times have to been to Angeles? Your handle suggests not too many. Not enough surely to commit a large chunk of cash to the place. I love AC, I really do. But I can stay 4 days at a time max before having to take a break. There is only so much barhopping and fucking one can do before even that starts getting old. I wouldnt want to stay there months at a stretch.

  Alert Top

hawaii2play hawaii2play rating
Member since 16-Dec-04
2791 posts, 13 feedbacks, 24 points		 03-Jul-10, 03:25 PM (PST)
Click to send private message to hawaii2play hawaii2play profileClick to add this user to your buddy list  
3. "condo hotel angeles"
In response to message #2
 
   I think the investment is risky from many points of view.

If you plan to live in it as a permanent home year around , it would make sense - PERHAPS.

Your "rate of return" assumes inflationary pricing, house will appreciate in value - that it MAY raise in value, and that ia s Realtors normal BS selling point - which they cannot substantiate or back up. Don;t be a sucker. Avoid the glittzy marketing pitches....

How many of you here in the USA and in Northern California, expected a "rate of return" on the house or condo you bought here to live in, and now your equity has disappeared, and you owe more mortgage than the value of the house today? Helllllooooo...

There is no USA federal tax break for owning property overseasa in most cases, cannot write off interest or property taxes on your 1040 tax return - so forget that.

What if.....
Condo Association HOA is corrupt, bankrupt, or bylaws are not enforced?
The price you pay is top of the market, and you go to re-sell at a 30-50 % discount?
Law and rule change in the country, and your ownership is NIL, or at risk.
Rent is a lot cheaper, no headache, and no capital risk to you .
If they curtail or shut down the main entertainment of the city, you are totally screwed.
Try finding an honest "local native property manager". to rent out your place, if you are not there?

Think hard on this one, guys would bought in certain areas of BKK had a real scare this year, the Pattays guys are probably fine, don;t know about the Filapines - a bit too much corruption for the average guy, and places your investment at risk.

good luck -


  Alert Top

Chimpy
Member since 12-Sep-08
74 posts		 03-Jul-10, 07:25 PM (PST)
Click to send private message to Chimpy Chimpy profileClick to add this user to your buddy list  
4. "RE: condo hotel angeles"
In response to message #0
 
"up to 15 percent return after expenses..." So where do I sign? Sounds like a can't miss (guaranteed and secured?) investment opportunity of a lifetime! Do they also offer rare, precious, uncut gems for sale? Ha Ha Ha!!! You can stand to lose a ton of money - if you let them take it from you and not do your homework!!!

Been looking at condos/homes (open houses) out here in and around Angeles City (not a serious buyer though). The developments I've visited cater primarily to foreigners - no one else seems to be able to afford these prices (high for local Filipinos). I'd say prices start from $20k US for a literally barebones place (think more storage shed fixer upper at this price) on up to a few hundred thousand dollars (think mansion!). Property needs to be placed in the name of a Filipino or an LLC - not in the name of the foreigner - although I'm certain there are ways around this.

There are apartments for rent for around $150 US per month on up to say $450 US per month (very nice 2 bedroom) near Fields Avenue.

Otherwise, a hotel at $20-$55 per night might be good for you.

I like hotels for now (for my current 3 month stay) - you get Air Conditioning, cable TV, internet (albeit SLOW!), furnitured room, daily maid services, clean sheets/towels, security, a pool/jacuzzi tub, access to in-house restaurant - for about 1,050 per day ($23 per day) for a small but comfortable room (DM Residence Hotel is where I'm at now).

Don't be a Chimp...

  Alert Top

angelesrookie
Member since 18-Apr-10
33 posts		 03-Jul-10, 07:37 PM (PST)
Click to send private message to angelesrookie angelesrookie profileClick to add this user to your buddy list  
5. "RE: condo hotel angeles"
In response to message #4
 
   Thanks a Bunch guys! You really made me see the light!
I really get blinded with the lovely Pinays spoiling me like
they do. They really love the bulge in my pants, I mean the bulge in my back pocket!haha. I'm going to stay in hotels and spend my hard earned dollars on three ways. Thanks again.

  Alert Top

dalycity650 dalycity650 rating
Member since 18-Apr-04
331 posts, 3 feedbacks, 5 points		 04-Jul-10, 03:39 AM (PST)
Click to send private message to dalycity650 dalycity650 profileClick to add this user to your buddy list  
6. "RE: condo hotel angeles"
In response to message #5
 
If you want to see if you like living in AC then maybe I could suggest this place.

http://www.affinitycondoresort.com/index.php?link=7

It seems decent enough based on some youtube videos I watched of a guy that was making blogs about his 8 months living over there in AC. It's alot cheaper than hotels but, still offers hotel amenities such as pool,restaurant etc..

  Alert Top

Conferences | Forums | Topics | Previous Topic | Next Topic
   reviews | join vip | metasearch | terms of use | privacy top | help | faq    ©2010 myRedBook S.A.