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Author Topic: Lending money investment  (Read 26428 times)

Offline RUFUS

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Re: Lending money investment
« Reply #15 on: January 11, 2012, 02:14:16 AM »
As I posted on a similar thread...
The practice of loaning seed/fertilizer money is pretty common, but usually only results in a share of the crop.
Not a lot of money, except for the savings in future food costs.
Mrs. RUFUS and I have made several such loans.
We also made a long term loan on a coconut farm, where the interest on the loan is the copra our family harvests and keeps until the term of the loan is up.
I\'m not exactly sure what happens at the end of the term, that is Mrs. RUFUS\' deal.
SO SAYETH THE RUFUS

Offline Lunkan

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Re: Lending money investment
« Reply #16 on: January 13, 2012, 03:42:24 PM »
Yesterday I talked to a from back in elementary school friend, who has a mango farm north of Manila (in his oldest daughter\'s name).
It\'s old information, because he did it back when he lived there many years ago, before he moved to Sweden, letting his Phili-Swedish children study here:
He did as RUFUS wrote. lending against getting part of harvests.
He did it rather much, but didn\'t got any problems from loan sharks.

But he had normal turms, so I\'m still some worried how loan sharks can react if I start giving cheaper/help-to-self-help loans  :)

Offline OldManBill

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Re: Lending money investment
« Reply #17 on: January 13, 2012, 09:28:05 PM »
I wouldnt even try to give better rates than loan sharks. They will feel you are bad competition and it may end badly for you. There are some types of people you do not want thinking you are a threat.

Offline Ricky A

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Re: Lending money investment
« Reply #18 on: January 14, 2012, 08:29:09 AM »
I wouldnt even try to give better rates than loan sharks. They will feel you are bad competition and it may end badly for you. There are some types of people you do not want thinking you are a threat.


wisest words ever written on this forum Bill.    i call your \"may end badly\" and raise you all in for: \"**probably** will end badly\".

profiting from giving loans is one thing...taking business away from criminals is a cabao (horse) of a different colour...

to add my own twist to a Norwegian playwright\'s thoughts on the matter.....home life ceases to be free and beautiful as soon as it is founded on lending, borrowing and debt.



ricky
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Offline Metz

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Re: Lending money investment
« Reply #19 on: January 14, 2012, 01:16:01 PM »
Money lending falls under the monkey business category, stay away from it.  You are not the local Mafia.  You wouldn\'t go to NYC and do that biz, why would you do it in the Philippines?

Offline Lunkan

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Re: Lending money investment
« Reply #20 on: January 14, 2012, 09:08:23 PM »
Money lending falls under the monkey business category, stay away from it.  You are not the local Mafia.  You wouldn\'t go to NYC and do that biz, why would you do it in the Philippines?
Well. In my case I thought mainly of Help-to-self-help. More or less impossible for poor to improve their living without having start capital (and knowledge). Borrow money at loan sharks interest levels aren\'t a good alternative to get a good business started...

Unclear how much/little money I can bring when I move, but surely NOT enough to give away enough to a whole village   :)
If it can\'t be solved through a Micro loan organisation of aid type, then I would like to do something similar locally - if I dare  :)

---
I will need to have some investment too as reserve capital and/or extra income. RP economy have developed very good compared to \"Western\" since 2000, so I suppose there are several good stock investments options, but it\'s a problem there are so many scams.
I have done a few stock market investment, which gave profits at \"loan sharks level\", and such I find OK, even like  :)    BUT I wouldn\'t like to take much money from poor people by interest rates at usury level...

But I can find it OK if BOTH I and e g poor farmers earn more than they would otherwise e g by I pay better seeds and fertilizer and get we share the harvest fair. I suppose it\'s best if I find a good combination of investment and Help-to-self-help, but to be the later it better cost them less than loan shark\'s interest level. Perhaps loan sharks can find it OK if finding a (new) loan/share solution, where it isn\'t obvious I\'m cheaper  :)    
Is it common loan sharks get PERCENTAGE of harvests?  
If not, then that can perhaps be a solution they find OK (?) because of it\'s unclear what profit that will give, because of harvests can be different big.

But probably you are right, Metz, but it\'s harder how to give a good Help-to-self-help then  :)    or didn\'t you included loans against share of harvest?
Perhaps it can be solved by the AGREMENT is I get a big percentage share of the harvest, but then I LET them \"fool\" me how much they got   :D   BUT a bad thing with that would be I would get a reputation I\'m easy to fool, which can make I will be bothered by many scamers.

Offline OldManBill

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Re: Lending money investment
« Reply #21 on: January 15, 2012, 12:08:15 AM »
I believe the limit is 400,000 piso to bring with you. Dont know the exchange rate with your country. But the guys on here who know have said before. Never invest more than you are prepared to lose. That goes for any investment in any country. It would not be smart to compete with loan sharks even on local level.

Offline rdjlazo@yahoo.com

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Re: Lending money investment
« Reply #22 on: January 15, 2012, 01:50:20 AM »
I don\'t see my self competing with loan sharks on crop or farm seasonal loans. Where I live
in Palawan almost any were you you look is green, fertile and uncultivated agricultural land.
Here is where trusting angel investors not meeting the hard working honest enough farmer
to get the seed, fertilizer, bug killer money to work the land. These people
 just need a break to get out of poverty. Involve the barangay leaders preparing the contract.
We will never find out if we will not try. I am starting a Micro lending with a group in our
church and this will be based on trust, some commitment by both parties and
of course relationship.
 I was born in Phil and stayed In US for almost 40 years.
People are saying if I move there I will have to deal with malaria, dengue, poor health care,
mosquitoes, hot weather, poor people and relatives  begging for money etc. etc.
I will say all of those are in USA and I don\'t live for those things. I live to do things to
make a difference to people and the best is not to think about myself, my health and
other personal things too much. 
Best regards to all, I don\'t mean to offend anybody,
Rudy

Offline Lunkan

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Re: Lending money investment
« Reply #23 on: January 15, 2012, 10:04:00 PM »
>rdjlazo
Exactly.

I believe the limit is 400,000 piso to bring with you. Dont know the exchange rate with your country. But the guys on here who know have said before. Never invest more than you are prepared to lose. That goes for any investment in any country. It would not be smart to compete with loan sharks even on local level.
Only 400 000 pesos??? When moving there???
Isn\'t it a demand of minimum 800 000 on a bank account for one type of long stay VISA?   (Other VISA than I will have.)

I don\'t want to compete with the loan sharks, but I guess it\'s a risk they will see it as I do, if/when I do some Help-to-self-help.

Yes, it\'s a problem to get both what I want and secured.
My friend from back in school solved it by
1. just buying small land (in wife\'s name) where he build a rather simple house.
2. A mango farm he bought as investment in his oldest daughter\'s name, after she was born.

But I can\'t do like that, because I want to build 200 meters or so from a public road, so I better buy all the land in between, plus some land can be needed to cut down to get enough view and open towards mobile pole, so I guess I will need to buy at least 3 hectare (=20 acres). But jungle land don\'t cost much normally anyway.

Offline OldManBill

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Re: Lending money investment
« Reply #24 on: January 15, 2012, 10:40:54 PM »
I believe that is amount of cash you can bring with you. If you want to bring more, you will need to talk to RP embassy or consulate in your country. I would only bring enough cash for everyday expenses and for wedding, if you are planning to marry soon after arrival. Travelers checks are another way to bring money. But they will cost you when you cash them and exchange for piso. You can start bank account and deposit check from bank in your home country. I do not know rules for starting RP bank account. Others on here will have to answer that question. As others have stated, it would be best to keep your wealth hidden so you are not a target. That is advice for personal and business too.

Offline Gray Wolf

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Re: Lending money investment
« Reply #25 on: January 16, 2012, 07:31:16 AM »
I will need to buy at least 3 hectare (=20 acres). But jungle land don\'t cost much normally anyway.


3 hectares = 7.4 acres not 20 acres.   20 acres would be roughly 8 hectares   ;)   8)
Louisville, KY USA - Bagong Silang, Caloocan City, PH

Offline halibaitor

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Re: Lending money investment
« Reply #26 on: January 16, 2012, 09:27:01 AM »
Travelers checks are another way to bring money. But they will cost you when you cash them and exchange for piso.

I would strongly advise against taking Traveler\'s Checks to the Philippines.  I did that a few years ago, and had a terrible time finding any banks that were willing to convert them into pisos.  Now I just take crisp new $100 bills.  Those can be converted almost anywhere.  Old or marked up bills will be refused at most places.  (As always, YMMV.)

Offline shortman

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Re: Lending money investment
« Reply #27 on: January 16, 2012, 09:33:56 AM »
I would not advise travelers checks also for here; my personal experience was i was quoted one rate, and then after i signed them i was quoted a lower rate; lesson learned, i accepted ,swallowed my pride and to this day i have never used the place again, and that was 10 years ago..... cash or debit card seems to be used mostly now...
Effective November 2014 this account is now being used by Lar, Shortman's widow.

Offline richardsinger

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Re: Lending money investment
« Reply #28 on: January 16, 2012, 10:43:23 AM »
There is a limit of USD10K cash that you can carry with you when you enter Philippines.

I opened a savings account with BDO when I arrived here, and I can do online TT transfers from my Singapore Citibank account into the BDO account, then use ATM to withdraw cash as needed. I tried to open an account at BPI first, but they rejected me because they required 2 valid IDs and they wouldn\'t accept my Singapore driving licence as \"valid\" because it has no expiry date.

Richard


Offline Lunkan

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Re: Lending money investment
« Reply #29 on: January 16, 2012, 11:39:37 AM »

3 hectares = 7.4 acres not 20 acres.   20 acres would be roughly 8 hectares   ;)   8)
OK. I mixed it up with some other not metric, which I remember is somewhere around 40 x 40 meters.
It would be easier if everyone would use only the metric system  :)