How to turn $2million into $1million (peso's)

[DivinRich]

The wifey and I put down a deposit for a stretch of beach and land near her hometown....34 meters of beachfront, isolated, great diving in the area....near a sanctuary, etc.

This could get interesting.....

---------- Post Merged at 07:09 PM ---------- Previous Post was at 05:17 PM ----------

Working on some rough sketches and end game...thinking a nice little dive op with lodging and a basic menu....Planning a trip before purchase, will take tent and sleep on the beach....I've visited this area before and its very mellow (no crowds, will be challenge) and beatiful with good diving close by....I plan to find some new sites and bring divers to the allready established area.

 

[h2odragon1]

$2 million should be closer to 80 million peso's!

 

[DivinRich]

Truth.....

 

[Searcaigh]

I detect a hint of irony in the first post ....

 

[DivinRich]

I detect a hint of irony in the first post ....

Irony in the title maybe...we really are trying to close a sale on the beach, deposit made....trying not to get too excited yet, as things can still happen....and the resort building process will take several years....and millions of peso's lol....but it's doable...we both work in the US though I am able to take time to travel quite a bit......

 

[kwhkg]

Be carefull !

 

[Rogersea]

Irony in the title maybe...we really are trying to close a sale on the beach, deposit made....trying not to get too excited yet, as things can still happen....and the resort building process will take several years....and millions of peso's lol....but it's doable...we both work in the US though I am able to take time to travel quite a bit......

So where exactly are you buying?

 

[paolov]

is this under tax declaration or titled?

how many years has the land tax been in default if not paid yearly.

is the hometown in Luzon, Visayas or Mindanao? or is it under tribal land?

hehehehe

 

[xspect]

Best wishes to you. Just be careful.

 

[DivinRich]

Best wishes to you. Just be careful.

Thanks.

As for the details/location I'd rather not say yet...my wife is Filipino and her father is checking on all the technicalities of title and what not...I understand there is a tax on beachfront property, and we are trying to confirm it has been paid in full....the seller allready sold the two parcels next to it, one too an Australian and one to an American, I am asking for their contact information and will hopefully get some feedback from them.




Edit - Seeing how the land will be in the wifes name, I figured it was only fair for her to pay for most of it from her earnings....