When buying and selling real estate properties in the Philippines, the final purchase price is not and should not only be the relevant amount.
Other taxes and fees charged on the transaction must be considered by both the buyer and seller because these costs affect the total transaction price.
There’s an interesting discussion going on in the PMT Forum, about one’s residence and whether it is an asset or a liability.
By definition, an asset is anything that can directly or indirectly contribute future cash flows. A liability, on the other hand, is anything that can result to a transfer or disposal of an asset.
In this context, is the house an asset or a liability? Here are a few thoughts from some PMT members.
The “renowned guru” of foreclosed property investing in the Philippines, Dinna Revilla, has been arrested. Her supposed fraudulent schemes were even featured last week on GMA7’s Imbestigador.
The arrest was based on estafa complaints by her investors, after Dinna allegedly continued collecting funds although her real estate properties have already been foreclosed by the bank. In addition, several of the checks she issued as payment to investors bounced.
This development caused several people to believe that the foreclosed property investing venture espoused by Dinna and Think Rich! Pinoy author Larry Gamboa was a fraud.
The latest news in the Philippine real estate investing industry is that Dinna Revilla, a renowned “guru” of foreclosed property investing in the country, was arrested yesterday due to accusations of estafa.
Revilla, author of the foreclosed property investing book Riches in Foreclosures and mentor to Think Rich! Pinoy author Larry Gamboa, allegedly misappropriated the invested money of beauty queen and TV host Miriam Quiambao and four other people.
Snippets from news reports of thePhilippine Star and Manila Standard below.
