Living in the Philippines
By cclay34
@cclay34 (486)
United States
December 12, 2006 7:16am CST
My wife is from Leyte, Philippines and we would like to live there sometime in the near future. We have discussed the move for the last couple of years. We would like to start a business there but are not sure what kind of business would be more profitable. We have considered a bar, an internet cafe, a restuarant, and a pension house but have been unable to agree on which one would be the best investment. My father inlaw has suggested that we buy 25 hecters of property which has coconut groves. They would harvest every three months with a profit of around P25000, thats about $500.00usd every three months or $2000.00usd per year. Its a lot of money for the Philippines but I dont think i would feel comfortable knowing that I would be depending on so little money.
There is also the question of what to do with property we own here in the United States, should we sale and use the money to get started in the Philippines or keep our property here and lease it to someone and use the money as an extra income. I am all for keeping the property because we could always use the extra income and I am sure that at some point in time we will have to return here for whatever reason and when we do, we will need a home, if only for a short time. So many questions, so few answers
5 responses
@aogdesk (30)
• Qatar
19 Dec 06
Have you been to Leyte?
Visit the place to find out which business would be profitable. This way you'll find answers to most of your questions.
To maintain a large property of coconut trees is labor intensive.
If you have enough resources then you can develop that property and add other income generating projects like livestock raising.
@dexterblack (40)
• United States
30 Dec 06
I subscribe to two yahoo groups about the Philippines. From all the postings I've read, I sum it up as it's very hard making a decent living in the philippines, not only because of the low value of the Peso, but because of their laws also.
I'd suggest renting your house out if it creates for you a positive or near positive cash flow. Keep the majority of your money in US banks also. Visit the Philippines for a few months at a time before commiting yourself to live there on going.
Just my two cents.
Dexter
@raijin (10345)
• Philippines
1 Jan 07
I say you buy a resort and put up an internet cafe and spa. All that now is a good feature in a resort and also a good investment, since you are an american you can easily refer your friends in your resort in case they want to have a summer vacation. Consider also the place, plus the ambience {for ex. boracay in aklan, dakak in davao, anilao in batangas to name a few place to start a resort}. You're right, you can lease your house for extra income and for other reasons.
@cheenlly (3476)
• Philippines
13 Dec 06
Buying a property like coconut groves is a good investment since that was the their sources of living in leyte but you have to consider also the place and the climate. Leyte is prone to storms and you dont want to invest to such if your aware that it might ruined in the future. But if their very confident that it will work out just find and you can afford to invest and buy that hectares of coconut groves then go on it will not a great lost. Consider it as investment then by that you can out up another business that your comfortable. Any related to food and computers are very booming especially if the place is in the city. Restaurant near beaches is good. Well it's still depend on you in your creativeness, just find out what people sells their then by that you will know some ideas what business you will put up.
@elijahpaul (65)
• Philippines
13 Dec 06
As a citizen here in the Philippines, I suggest checking out the place first before deciding on any business to put up first. Check out what is "in" for that place. A business here will only profit if placed in the right location, can be afforded by the people, and most importantly, what people are looking for.
@clickerz (471)
• Philippines
16 Dec 06
Just rent to somebody thier your property in USA,If anything goes wrong or an unexpected happened in Leyte,then you can comeback thier to start anew.Just my thoughts.
