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September 11th, 2008 at 1:23 am
@pinoy investor
Hi! It’s really hard to give advice just based on what we’ve discussed here. It really depends on your financial portfolio. If building a rest house or a farm will deplete all of your resources then I suggest you don’t buy or build one for now. Why not consider making your money grow first until you can have both? ^^
If you have a monthly income big enough that you can rely on for the coming years then maybe building your dreams one step at a time would also be feasible. Like say you can buy the farm lot for now and then later on when you have enough money again, slowly build your rest house as well.
I hope this helps. take care pinoy investor!
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September 10th, 2008 at 12:16 am
Hi @ Pinoy investor!
A rest house and farm would be a good choice. If you dont have enough finacial source to relialize your dreams, why dont you apply for a loan. use your land as collateral and build a rest house just enough for your family. The rest of the money you could use it to build even a 10 rooms resort atleast you gain income to pay your interest and the principal. Tourism industry in Philippines is now picking and we are lacking of rooms for our tourist.
September 9th, 2008 at 10:34 am
Yes we plan to build a rest house in a farm and one of them is just across a beach. But we have limited funds. We can’t afford to build a house and buy more land. I prefer to expand the farm and use its income to build a house. Downside is farming is business and there’s risk of losing money. While a rest house is investment and leisure. In the past, we lost money in business that we could have spent for leisure. What would you do sunjun, salve?
September 8th, 2008 at 10:43 pm
@pinoy investor
I think you can have both at one place. ^^ A rest house beside a hacienda … wow!
Unless your wife would prefer a rest house by the beach, that would be more of a challenge I think. ^^ But here in Davao, at Samal Island, they have mango orchards and it’s very near the shore so you can have both. ^^ But I don’t know if the land is suitable for other types of farming though.
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September 8th, 2008 at 4:03 pm
Salamat pepe, salve. My wife wants to build a rest house. I want to buy more farm land. I almost bought 10 hectares more, hindi lang nagkasundo sa presyo. Rest house or farm land? What do you think?