6 Frequently Asked Questions About Foreclosed Properties

We have conducted two batches already of our Usapang Foreclosed Property Investing featuring our friend and real estate investing mentor Jay Castillo of ForeclosurePhilippines.com but people are craving for more.

That’s why we are offering the 3rd batch of this series to all those who were not able to attend the first two batches.

Before you join and register for the 3rd Usapang Foreclosed Property Investing seminar, here are few of most asked questions to help you out about foreclosed property investing taken from Jay’s website.

1. Are all properties listed by banks foreclosed?

ANSWER:

Bank listings usually only include foreclosed properties as they are not really in the real estate business. S

ometimes however, you will also see some bank acquired assets for sale which they got as payment through a dacion en pago or payment in kind, as a result of foreclosure proceedings.

2. Can I ask the bank for the copy of the title?

ANSWER:

Yes, just need to ask for a copy and they should give you a photocopy which you can use to check/verify at the registry or deeds by getting a certified true copy.

3. I am just curious what happens to the unsold properties in the auction? Does the bank reschedule them for another auction or can buyers make an offer to the bank at the starting bid price?

ANSWER:

For Unionbank, they usually set another auction for the unsold properties about a month later.

For auctions conducted by CBRE, they usually come out with post auction listings where “best offers” are considered, which means interested parties can submit offers below the minimum bid price.

For RCBC, they usually schedule another auction and take off 5% from the minimum bid price(MBP) for unsold properties.

4. Tanong ko lang po kung pwede pang mag habol yung dating may ari yung property pag fully paid na po ng buyer. And pano rin po pag dipa fully paid yung property pwede pa rin po basila mag habol?

ANSWER:

If tapos na yung redemption period, wala nang habol yung dating may ari.

If I’m not mistaken with the legal terms, the redemption period is one year after the execution of the foreclosure. Kahit hindi pa fully paid ang new owner, basta nag lapse na yung one year na redemption period, wala na ring habol ang previous owner.

Usually, banks only sell foreclosed properties whose redemption periods have already lapsed. Although they usually inform interested parties if the redemption period has lapsed or not, it would be better to double check, just to be sure.

5. Please expound the clause “as is, where is” for foreclosed properties?

ANSWER:

“as is, where is” generally means the buyer agrees to purchase the property at its present physical condition including but not limited to any problems or legal issues the property maybe involved in.

Best practice is for the buyer to thoroughly inspect the property and check for any lis pendens, annotations, etc., on the TCT plus trace-back plus any arrears on taxes, dues, etc. that maybe for the account of the buyer.

It would be highly recommended to check the auction guidelines as well on how the term “as is, where is” is defined by the bank conducting the auction.

6. What are the typical requirements to join an auction as a bidder?

ANSWER:

Aside from the show money or manager’s check, the winning bidder must submit all requirements as stated in the conditions of sale.

Learn More From Jay Castillo of ForeclosurePhilippines.Com

BATCH 3 is coming up!

Attend the 2nd 3rd batch of the Usapang Foreclosed Property Investing seminar on September 26, 2015 at the SMX Aura Convention Center, Bonifacio Global City in Taguig City.

Early Bird: PHP 2,000 (until August 31, 2015 ONLY)
Regular (online): PHP 2,500
On the Day: PHP 3,000
* Food will be served

To register for the next Usapang Foreclosed Property Investing seminar, click the banner below or please go here-–>http://angatph.com/registration/

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P.S. 1. Are you an OFW who’s been looking for a investment placement where your money could grow higher than your time deposit accounts? Are you outside of Metro Manila and would like to start investing in mutual funds but have no personal advisors to help you out? Click here so I can help you open a mutual fund account NOW! .

P.S. 2. Bro. Bo Sanchez has appointed me as a coach for our young and new investors at the TrulyRichClub social site. It’s a fun, learning family with the purpose of “helping good people become rich”. I’m inviting you to join the TrulyRichClub too and email me at burngutierrezblog@gmail.com if you have any questions. Click here to join!

P.S. 3. My co-author/illustrator Des Feliciano and I have just launched our “The Adventures of Pepot Kuripot and Dora Gastadora” comic book! It’s arguably the first and only personal finance-influenced comic book in the Philippines. Order your copy now from our website http://pepotanddora.com and have it delivered right at your doorstep. Or you can grab your copy yourself at The Pantry at 07 in Makati City and ilovemilktea in Las Pinas City. Now available also in Australia, Saudi Arabia, and the USA! Email des_feliciano@yahoo.com for more details.
PepotCover1

P.S. 4. If you are based abroad or just outside of Metro Manila and has been itching to learn more on how to jumpstart your business dreams, join me and my friend, serial entrepreneur Ginger Arboleda, as we take you through a series 2-hour webinars (for 11 Saturdays) that will help you focus on the technical skills and specific things that you have always wanted to know about in order to grow your business. We have come up with 10 sessions with 11 expert lecturers (with 1 FREE session if you enroll in the full program) that will make you a stronger and better entrepreneur. Register here to join the Enter Entrepreneurship Webinar Program now!

P.S. 5. Learn How To Make Money From Foreclosed Properties! We are on our 3rd run of the Usapang Foreclosed Property Investing with Jay Castillo of ForeclosurePhilippines.com! Happening on September 26, 2015 at the SMX Aura, Bonifacio Global City. Click here to register and avail the early bird promo!

P.S. 6. Buy insurance products online! Visit the very first online insurance store in the Philippines: the AXA iON! Purchase your alternative savings plan, educational plan for your children, medical emergency plan, and your life insurance by clicking HERE.

Top 10 Types of Investment Scams (Infographic)

No matter how hard we try to warn our kababayans to observe due diligence and wise decision-making when offered by investments with guaranteed returns, many of them still do not listen and fall victims later on.

Surprisingly, some of them are aware that what they are getting into are real scams but they just shrug it off because they know that they will get their money back plus the promised returns the soonest possible time.

Those on top of the food chain do get the share of the pie. But the late bees settle for the bread crumbs if there are any at all.

Here’s a very straightforward infographic for you to share to your friends and loved ones provided to us by Paladin Registry from the U.S.

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It is important that you are aware of the 10 most frequent investment scams that are perpetrated on the public by licensed and unlicensed individuals.

However, that is not your best form of protection. Why? There will be an 11th scam and a 12th scam.

Consequently, it is more important to know some of the key features of scams so you can recognize and avoid all of them.

scam1

 

Your Expectations

You may have noticed most investment scams promise people high returns – in some cases very high returns (30%, 40%). The scam artists know you want high returns. They are simply telling you what you want to hear. The more the scam meets your expectations for superior returns, the higher the probability you will buy it.

This is more dangerous than it may sound. The promises that are made by scam artists have to sound realistic or red flags will pop-up and you won’t buy.

That is why many of them use exotic strategies, such as currency trading, because they know there is a good chance you will not be familiar with this type of investment.

 

Too Good to Be True

Another good rule of thumb: “If it sounds too good to be true it is not true.”

For example, the scam artists do not just promise superior returns. He promises high returns for low risk. He has described two major investor needs (higher performance, lower risk) in the same product.

There are no lower risk products that produce higher returns. You have to give up the potential for higher returns to reduce your exposure to risks.

 

 scam2

 

The Referral Game

Another characteristic of a scam is the “Referral Game.”

This is a favorite tactic of the scam artists who run Ponzi Schemes. They make sure the early investors have a very positive experience even if it is based on fake performance reports. Then they ask for referrals to the investors’ friends, family, and associates. The unfortunate investors think they are doing people they care about a favor.

Watch-out for referrals. You still have to do your homework no matter how much you trust the person who made the referral.

scam3

 

My Advisor is My Friend

Bernie Madoff’s clients, who lost billions of dollars in the biggest Ponzi scheme in history, lamented: “I thought he was my friend.” He was not their friend, but he used sophisticated sales and relationship skills to make them believe he was their friend.

Scam artists want you to like them. They know you let your guard down when you like someone. You like them, then you trust them, then you buy what they are selling.

The investment of your assets should not be based on personalities, sales pitches, and undocumented sales claims. It should be based on rational, objective decision-making.

 

 

scam4

 

The Free Lunch

A lot of scams start with the free lunch, the free round of golf, or the free seminar. A lot of investors feel indebted when they accept the free offer.

This is the opening the scam artist needs to convince you to buy what he is selling. If the scam costs you a lot of money that may just be the most expensive lunch you have ever eaten.

Do not accept free offers until you have made an objective, rational, prudent investment decision. Even then you should avoid free offers that may interfere with your ability to make the right decisions.

 

Source: Jack Waymire, Investor Watchdog, Paladin Registry

Avoid financial scams and be updated about the latest frauds by subscribing to Rock To Riches for FREE.

Rock your way to abundance!

#moneyliferocknroll

P.S. 1. Are you an OFW who’s been looking for a investment placement where your money could grow higher than your time deposit accounts? Are you outside of Metro Manila and would like to start investing in mutual funds but have no personal advisors to help you out? Click here so I can help you open a mutual fund account NOW! .

P.S. 2. Bro. Bo Sanchez has appointed me as a coach for our young and new investors at the TrulyRichClub social site. It’s a fun, learning family with the purpose of “helping good people become rich”. I’m inviting you to join the TrulyRichClub too and email me at burngutierrezblog@gmail.com if you have any questions. Click here to join!

P.S. 3. My co-author/illustrator Des Feliciano and I have just launched our “The Adventures of Pepot Kuripot and Dora Gastadora” comic book! It’s arguably the first and only personal finance-influenced comic book in the Philippines. Order your copy now from our website http://pepotanddora.com and have it delivered right at your doorstep. Or you can grab your copy yourself at The Pantry at 07 in Makati City and ilovemilktea in Las Pinas City. Now available also in Australia, Saudi Arabia, and the USA! Email des_feliciano@yahoo.com for more details.
PepotCover1

P.S. 4. If you are based abroad or just outside of Metro Manila and has been itching to learn more on how to jumpstart your business dreams, join me and my friend, serial entrepreneur Ginger Arboleda, as we take you through a series 2-hour webinars (for 11 Saturdays) that will help you focus on the technical skills and specific things that you have always wanted to know about in order to grow your business. We have come up with 10 sessions with 11 expert lecturers (with 1 FREE session if you enroll in the full program) that will make you a stronger and better entrepreneur. Register here to join the Enter Entrepreneurship Webinar Program now!

P.S. 5. Learn How To Make Money From Foreclosed Properties! We are on our 3rd run of the Usapang Foreclosed Property Investing with Jay Castillo of ForeclosurePhilippines.com! Happening on September 26, 2015 at the SMX Aura, Bonifacio Global City. Click here to register and avail the early bird promo!

P.S. 6. Buy insurance products online! Visit the very first online insurance store in the Philippines: the AXA iON! Purchase your alternative savings plan, educational plan for your children, medical emergency plan, and your life insurance by clicking HERE.

5 Awesome Online “Rakets” You Can Earn Money From

Many of us have experienced having low salary or earning minimum wage as employees at a certain point in our career. We also looked for “sidelines” to augment our income to help pay the bills.

Some sold beauty products or apparel to officemates on a hulugan (installment) payment mode. Others sold cold cuts or merienda to co-workers on a “sa sweldo mo na bayaran” (pay on salary date) agreement. I’m pretty sure each of you has a lot of good stories to tell and experiences to share.

But since many Filipinos have become more internet- and social media-savvy, it’s about time to look for more sidelines and work-from-home rakets. Here are the new hit rakets that you can try on weekends or during your free time (not during your official working hours please).

*Here’s a FREE 23-page step-by-step guide on how to make money selling e-books including which topics to write.

You only have a few days left to book a slot to learn how to earn 5 to 6 digits through the Internet Business Master Class (IBMC)! Click here to enrol!

(Download your FREE video series NOW as our Christmas gift to you on how to make money from selling digital products while you are still an OFW!!! CLICK here!)

1. Freelance Work

The Philippines has been on top of the call center and BPO industries globally in the past few years. If you have an experience as a call center agent or as a customer support officer in these industries, you may have a better edge than others who will try doing this for the first time.

You can be employed as an online or phone customer service assistant, advisor, support, etc. while being with your loved ones at home by companies like Teletech, Apple, ConvergysAmazon, Xerox and many others.

You can also apply via freelance websites such as Upwork (formerly Odesk), Raket.Ph, Elance, etc. as a freelance writer, salesman, virtual assistant, language teacher, accountant, and whole lot of jobs available based on your skills.

 

2. Make Money by Blogging

A blog is a website that uses a dynamic software platform like the free WordPress or Blogger. You need to learn first or ask someone to help you out in creating your blog or website.

Blogging about fresh and sought-after topics can be a very lucrative way to earn extra money while being employed. I personally have some blogger friends who are earning more than when they were still employed.

But remember, this is not a short-cut to earning big bucks. You have to invest in knowledge, resources, and time in order to earn from blogging.

In order for you to earn from this raket you need to consider your blog as a business. You should also know your “voice” whether you are a teacher or a student blogger.

New bloggers should also learn the proper way of using keyword research techniques, how to get traffic, marketing methods, site optimization, promotional venues, and other components of a successful money-making blog.

You can make money in blogging by selling products or services, direct advertising (by selling ad space or writing advertorials), or sell products for companies handled by affiliate marketing companies like Amazon Associates, Clickbank, Commission Junction, etc.

Another effective way to make money from blogging is by joining advertising network like Google AdSense, Nuffnang, Infolinks, Revenuehits, Yahoo! Bing Ad Network, Chitika, and many others.

 

3. Doing Paid Surveys

Instead of just wasting your time posting unnecessary evils on your Facebook or social media accounts, why not become an online panelist and earn extra money online from the comforts of your home? Doing paid surveys is surely another way of earning income to pay for your needs or even wants.

Some of the best survey websites that pay good cash are American Consumer Opinion, ClearVoice, My Survey, and Survey Savvy, and Esearch. When you register for these survey sites, they will send you survey invitations through your email together with the respective reward amount. You should then respond and complete the questionnaire.

Many of these surveys will take only about 10 to 30 minutes of your time. Some of these survey companies also conduct surveys via telephone, SMS, and other venues that can pay you even more.

OnlineBusinessIcon

 

4. Partner with Online Service Companies

Do you have a property like a house in your beautiful province or a condo in the city that is seldom used by you or your family members? Why not have it rented out via AirBnb to other people who may want to visit the place where your property is located? You can have it rented out as little or as much as you can and as much or little as you want.

I can say that AirBnb is relatively safe since they offer a guarantee of $1,000,000 to protect you from any kind of property damage caused by your renters. It also has a renter rating system so you can decide whether to rent it out or not to a particular person.

Other than that, you also earn if you invite more friends to try Airbnb or earn travel credit for each new friend you invite. You will get $25 when they travel and $75 when they host their home.

Or maybe you have a good-running car that is seldom being used? Why not be an Uber driver or have someone you trust drive it for you around your area? A lot of people going to and from work need a lift especially during rush hours.

However, make sure that your car is registered under your name and is insured. Also, make sure that you or your driver is at least 21 years old and has a valid driver’s license to avoid any trouble. You will also need to have an iPhone 4s or 2013 Android phone at least to be qualified.

 

5. Sell Your Own Products or Services

I’ve met a lot of people who once struggled in their lifetime as scrappy salaried-employees but have become financially-secured afterwards because of their perseverance and determination to succeed in their online businesses.

One of my friends was once terminated by his employer for not disclosing the truth the he did not graduate from college. He redeemed himself by not becoming an employee any longer. He now continuously earns thousands by being a sales agent for real estate companies and selling condo and house units through his social media pages.

Another former colleague also resigned from work and focused instead on selling fresh and tinapang bangus on Facebook with his wife.

You can also sell what you think people are looking for online. Start by asking yourself what are the products or services you are looking for but are hard to find online? Are they always out of stock? Then search for suppliers of this product and be a distributor.

You can also enhance yourself by enrolling in a course for a service that people are always looking for and offer these online.

Are a photographer? Why not sell your photos?

Are you a lawyer? Financial advisor? A doctor? Why not be a paid coach online?

Be an effective cyberpreneur by subscribing to Rock To Riches for FREE.

Rock your way to abundance!

#moneyliferocknroll

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