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Author Topic: Majal, would you like to chat with me about investment in the PHL  (Read 32327 times)

Offline cvgtpc1

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #30 on: October 25, 2015, 12:51:27 AM »
Lee,  have you thought about looking for properties just old hotels or multiple units (fixer/upper) either make a studio or like a hostel type and prep it for the militaries when they pull in. That can be potentially profitable there specially now that US slowly getting back and pulling in.  One of my Niece own a 3 bedroom house in Pasig but she moved here already so its vacant. When George Washington pulled in Manila, these "kids" of mine (my sailors) contacted me asking for recommendation.  I offered my Niece place with a car+driver (which is one of nephew) the entire time for $1000 for 2 nights ($200 each kid) lodging, breakfast, car and driver anywhere within the allowed area (which they pretty much stayed in the mall arcade watch movies). They were absolutely happy with it. Average decent hotel in Manila is $75 (for US people standard), you can get car and driver about $50-75 (you pay gas and driver food) so overall it was a fair price for them, plus theyre my kids I ain't out to get them. I know others would have. I see potential in that....have connections in the inside and network customers that way...lodging+car/driver/food target the Junior guys coz they're the one that has money to spend really....what you think of that?  Anyways my niece was absolutely stoked. $1000 for two nights, easy money!

Better hope they're not smart enough to discover Go Hotel....personally I think you gouged them.  Make some money sure but you said they're your "kids"...

Offline Majal

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #31 on: October 25, 2015, 12:58:51 AM »

I think the only way for a foreigner to consider a startup in the Phils is to look at it as a wholly speculative venture - do it only if you already have a secure source of income and invest no more that you can easily afford to lose.

we are on the same page on this one...

Exactly. It is not a place for any foreigner to come to think they can make money - or even a decent living. Any venture should be the same as a gamble where you only gamble with surplus income. It would merely be a hobby (or an ego trip?).

I disagree with you....it has a market you just gotta do the homework first and stay on your Capital.  Funny you mentioned ego trip, I'm thinking where can I apply that one...I thought about all the Koreans and Chinese investors in Binondo...when I went there I thought I was in HK for a second. And I saw the Filipinas (not of working age I might add) getting yelled at left and right for stupid stuff, a total case of  maltreatment and abuse in labor industry. Businesses like that makes me mad, totally taking advantage on my people's skills for a fraction of pesos ( I bet they'll be under the table too)...yep, I can have an ego trip. That as a Filipino I can own a business in PI...but I have no care for simple minded people way of life. Never did affect me.

Offline Majal

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #32 on: October 25, 2015, 01:15:55 AM »
Lee,  have you thought about looking for properties just old hotels or multiple units (fixer/upper) either make a studio or like a hostel type and prep it for the militaries when they pull in. That can be potentially profitable there specially now that US slowly getting back and pulling in.  One of my Niece own a 3 bedroom house in Pasig but she moved here already so its vacant. When George Washington pulled in Manila, these "kids" of mine (my sailors) contacted me asking for recommendation.  I offered my Niece place with a car+driver (which is one of nephew) the entire time for $1000 for 2 nights ($200 each kid) lodging, breakfast, car and driver anywhere within the allowed area (which they pretty much stayed in the mall arcade watch movies). They were absolutely happy with it. Average decent hotel in Manila is $75 (for US people standard), you can get car and driver about $50-75 (you pay gas and driver food) so overall it was a fair price for them, plus theyre my kids I ain't out to get them. I know others would have. I see potential in that....have connections in the inside and network customers that way...lodging+car/driver/food target the Junior guys coz they're the one that has money to spend really....what you think of that?  Anyways my niece was absolutely stoked. $1000 for two nights, easy money!

Better hope they're not smart enough to discover Go Hotel....personally I think you gouged them.  Make some money sure but you said they're your "kids"...

I made that an example (that was unplanned as well, they were a bunch that was on a budget) ..I was thinking more of that as a potential business to venture on and being in the inside there is definitely a market for it in Manila, AC, Palawan, Cebu. More and more Philippines is becoming a routine port (just like it was back then) Multiple unit or Bed and breakfast on these areas, offering lodging, car and driver is a good idea.

Offline iamjames

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #33 on: October 25, 2015, 06:37:25 AM »
Acceptable standard accommodation in the Philippines is available from $25 per night. Any more than that and you 'kids' are wasting their money. I have stayed in far worse accommodation in the US for double the price.

Offline M.C.A.

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #34 on: October 25, 2015, 08:34:17 AM »
Nothing wrong with your soap box Magal ...keep going it makes for good conversation but a reality check from a few of us, please don't get upset, some of us have witnessed or dealt with the business here and take it with a grain of salt, I could be wrong but here goes, you are not going to change the thought process of good customer service or ever change how people act here, they are stuck with the behavior, attitude they were born and bread with, you are not gonna change anyone by blessing them with a job...Lol  low pay means you are gonna get ripped off big time, your food your products will disappear little by little, profits are so tiny, who has money? Nobody is my answer, and if you do rent out a spot in an area, tourist spot, good luck with that, that's everyone's dream, it's gonna be soo expensive, say good by to your nest egg and it'll probably still fail, do to corruption or employee's helping themselves to your money, you have to work the money, you need to constantly monitor your employee's for theft and they still steal, give away things.

I've heard some success stories with rice financing then reselling the unmilled rice for the loan but don't forget you need to transport the rice to the mill and then pay for the milling costs and then try to sell the rice.  Rentals that I've dealt with, if they don't own it they will wreck it, they don't care, you can fix the apartment after it burns down or gets destroyed, what ever they borrow or use and that's my reality.  I have a pool table next to the road (small building with a large gate)  I made from 150-300 peso's a day, long day and the neighbors, citizens banged the sticks, pounded the sides of the billiard top, switched some of the balls and the cost to get this table repaired for all the scratching...gosh, well they don't own it so they don't' care, that's the mentality in my area the price per game is 5 peso's... you have to ask every single time for the money and sometimes they won't pay or walk off.  If you can't repair the pool table, sticks yourself you are gonna lose money on billiards or it won't be worth the effort.

Business translated equals you do everything, you manage the money, if not somebody will cut you short or damage your stuff, do people make here, sure but I've heard term if the business cost 1 million be prepared to spend 3 million.  Laws aren't the same here, neither is enfrocement, if you have money you area expected to alway's pay for damages but as a poor person, they don't pay anything.
My views would be from someone who lives out in the province close to in-laws on a pension.  Norwegian and French heritage.

Offline Majal

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #35 on: October 25, 2015, 08:49:39 AM »
Nothing wrong with your soap box Magal ...keep going it makes for good conversation but a reality check from a few of us, please don't get upset, some of us have witnessed or dealt with the business here and take it with a grain of salt, I could be wrong but here goes, you are not going to change the thought process of good customer service or ever change how people act here, they are stuck with the behavior, attitude they were born and bread with, you are not gonna change anyone by blessing them with a job...Lol  low pay means you are gonna get ripped off big time, your food your products will disappear little by little, profits are so tiny, who has money? Nobody is my answer, and if you do rent out a spot in an area, tourist spot, good luck with that, that's everyone's dream, it's gonna be soo expensive, say good by to your nest egg and it'll probably still fail, do to corruption or employee's helping themselves to your money, you have to work the money, you need to constantly monitor your employee's for theft and they still steal, give away things.

I've heard some success stories with rice financing then reselling the unmilled rice for the loan but don't forget you need to transport the rice to the mill and then pay for the milling costs and then try to sell the rice.  Rentals that I've dealt with, if they don't own it they will wreck it, they don't care, you can fix the apartment after it burns down or gets destroyed, what ever they borrow or use and that's my reality.  I have a pool table next to the road (small building with a large gate)  I made from 150-300 peso's a day, long day and the neighbors, citizens banged the sticks, pounded the sides of the billiard top, switched some of the balls and the cost to get this table repaired for all the scratching...gosh, well they don't own it so they don't' care, that's the mentality in my area the price per game is 5 peso's... you have to ask every single time for the money and sometimes they won't pay or walk off.  If you can't repair the pool table, sticks yourself you are gonna lose money on billiards or it won't be worth the effort.

Business translated equals you do everything, you manage the money, if not somebody will cut you short or damage your stuff, do people make here, sure but I've heard term if the business cost 1 million be prepared to spend 3 million.  Laws aren't the same here, neither is enfrocement, if you have money you area expected to alway's pay for damages but as a poor person, they don't pay anything.

I understand what your saying and no worries about "bursting my bubble" (as Art nicely told me...).  I have yet to experience what it's like but you guys have done and had it  and I can only learn from that and give myself the warning and know what to expect. I appreciate the feedback!

Offline itsgalf

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #36 on: October 25, 2015, 08:50:05 AM »
I thought about all the Koreans and Chinese investors in Binondo...when I went there I thought I was in HK for a second. And I saw the Filipinas (not of working age I might add) getting yelled at left and right for stupid stuff, a total case of  maltreatment and abuse in labor industry. Businesses like that makes me mad, totally taking advantage on my people's skills for a fraction of pesos ( I bet they'll be under the table too)...

I think a lot of the OFWs that are working in Middle Eastern countries are getting taken advantage of as well.
Just from my fiancee's old employer - sometimes the company wouldn't pay them until 1-2 months after the fact. One of her friends just went 3 months without the company paying so they ended up getting the Philippines Embassy involved last month.

Offline FMSINC

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #37 on: October 25, 2015, 08:53:19 AM »
The cover of the BizNews Asia, vol. 13, no. 22 reads “If you want to start a business, don’t start it in the Philippines”.

This is further expounded on in a paragraph also found on the lower part of the cover page:

The World Bank ranks the Philippines 95th in ease of doing business, 161st in starting a business, 124th in dealing with construction permits, 108th in registering property, 104th in getting credit, 127th in paying taxes, 124th in enforcing contracts, 65th in trading across borders, and 50th in resolving insolvency.

Considering that there are 189 economies, the Philippine rankings are a disgrace and put a lie to claims of Daang Matuwid. There is so much red tape and graft every time businessmen try to start a business or do business.

just a heads up

Offline Hestecrefter

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #38 on: October 26, 2015, 12:15:32 AM »
No easy way to make money from business in the Phils, but of course some pull it off, including some expats. 

Some ideas seem good at the time, but later turn out not so hot.  When I was in Puerto Princesa this year, the place where I stayed belonged to an expat who had been there for quite awhile.  He and his wife had a very nice property, very decent rooms, good price.  He related that when he started out, it made a good income.  However, his complaint was that so many others had got the same idea that now the competition is stiff, people cutting prices, etc. and the profit from it has dropped over time instead of increasing.  Certainly when I was there it was mostly empty.

Offline M.C.A.

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #39 on: October 27, 2015, 12:35:50 PM »
Majal you mentioned the Chinese are doing pretty good but they sort of own the Philippines, the banks, developments, mega malls the large business they control imports, you are stuck with Chinese junk and they sell the high-quality stuff and ban it from entering the country.  Example's would be when the US hit the reef, what an outcry from protesters with professional signs and then when the Chinese build on Philippine Islands...?  Nothing in the streets, Lol, all sign's to me that a country has already been bought. 

Chinese have Philippine citizens here do the dirtiest jobs and lowest pay, sort of similar to China, same with the business ownership law 60/40, same law in China.
My views would be from someone who lives out in the province close to in-laws on a pension.  Norwegian and French heritage.

Offline Art, just a re(tired) Fil-Am

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #40 on: October 27, 2015, 04:05:28 PM »
Just as an added side note to mcalleyboy's post, China does not recognize dual citizenship. So, they are either one or the other and or just 13a permanent residents or plain regular tourists. I don't know the stats for each immigration status, but I would assume those born here long ago are mostly Filipino citizens and do own a lot of businesses in the Chinese district of Manila, 60/40 ownership in the Philippines I'm uncertain of though. It's that way too in Northern California's San Francisco's China town district and they too have a long immigration history!
BTW, also Japan does not recognize dual citizenship either, they are too proud of a nation with strict long ago traditions to let in foreigners, until the first foreigner, Fernão Mendes Pinto (Circa 1509 – 8th July 1583) got his foot in the door.  ::) ??? :o ;) 
« Last Edit: October 27, 2015, 04:18:54 PM by Art, just a re(tired) Fil-Am »
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Offline bigrod

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #41 on: October 27, 2015, 04:25:28 PM »
60/40 rule is pretty simple, 60% of the company must be Filipino owned.  If you are married to a Filipino/a they can not be part of the 60% if you the non Filipino/a are the 40% or part of it.  You and your spouse are considered one entity.  Being born and raised in California , I have never heard of a 60/40 business being the norm in San Francisco's Chinatown.

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Offline Majal

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Re: Majal, would you like to chat with me about investment in the PHL
« Reply #42 on: October 27, 2015, 09:21:27 PM »
Majal you mentioned the Chinese are doing pretty good but they sort of own the Philippines, the banks, developments, mega malls the large business they control imports, you are stuck with Chinese junk and they sell the high-quality stuff and ban it from entering the country.  Example's would be when the US hit the reef, what an outcry from protesters with professional signs and then when the Chinese build on Philippine Islands...?  Nothing in the streets, Lol, all sign's to me that a country has already been bought. 

Chinese have Philippine citizens here do the dirtiest jobs and lowest pay, sort of similar to China, same with the business ownership law 60/40, same law in China.

There's a lot of truth in what you said about them owning business, they are that--Businessman, Traders for generations.... In my own family, over generations there's mix of Chinese descendant. Beautiful mix I might add. They are Filipinos that has same rights as every Filipino and known more as "shrewd" businessman. That's not a news in the Philippines. Chinese descendants in the Philippines by generations.has existed and they are not indifferent to Filipinos. I have issues on the foreign investor you see now in Divisoria and Binondo....