it could be a good investment naman. what people fail to realize is that they won't get even 1/8th of what you see in the model units. and that all they get is a piece of white box with a window.
anyway, you have to spend atleast 300,000 to turn the condo into a livable/ rentable position. that is 300,000 cash that most of the condo buyers do not HAVE, lalo na yung mga naghuhulog lang na employees.
pero, let's say you paid for the condo in cash, and did some basic upgrades.. and a 2 bedroom condo... will set you back maybe 7.5 Milliion.
you can rent it for 30,000/ month. rent it for 5 years (60 months)
that is 1.8Million. repaint/ renovate/ update the place for a few hundred thousand, you can then turn around and rent the place for 35,000 for the next 5 years again. that's 2.1 Million.
so.. in 10 years, you got 3.90M for something that costed you 8 million.
now... you then spend a few hundred thousand to re update nd everything.. and then put the condo up for sale for 5.5 million.
in 10 years, you got 9.4 million from your total invest of about 8.2 million.
that's 1.2 million in 10 years. that's more money you can earn than if you leave it in the bank. and all you need is to worry about the place every 5 years or so. and i used 5 years as a conservative amount.
multiply that by 2 if you have the money to spare. and that's 2.4 M.
you have to realize a few things, however.
1.) your income cannot rely off the condo's rental. it's merely extra money that you have on the side that you want to grow. and nothing more.
2.) you have to sell the condo at less than 'market value'. and you have to realize that condos depreciate in value. If you just want to buy a condo, leave it as is, and then sell it again in a few year's time. e talagang LUGI ka.
3.) as i previously said, YOU CANNOT RELY OFF IT AS AN INCOME. otherwise, you will be running in the negatives if you do. talagang kulang ang kikitain mo. and mauubos lang ang pera mo and you'd be forced to sell at a loss.
so you did all that work for nothing, and at the end, lugi ka pa.