Hello Hive Family!
Wow! This is life here in the Philippines. I recently started thinking about what kind of good business apart from selling food I could begin here, and now I have this new investment: an apartment to rent out.
I am not living in a high-class area. In fact, I live in a squatter community here in Manila. But I'm not shy about showing the reality of my life. I may not have a high standard of living, but I'm proud to share my journey because, at the end of the day, we are all just striving day by day for a better life.
I worked abroad for a long time but had no savings. However, I can say I am lucky enough because I have a friend who helped me get out of being a domestic helper and start my life all over again here in the Philippines.
So, what's the project?
Now, I am building my space upstairs, and this will be for rent. I will have two rooms to rent out soon (it's almost done) and I will be living downstairs. I know living in this area may not be forever, but I also know that the business is here. The money is here, and I want to try while I still have the chance. Maybe 20 years from now this place will be gone, but at least I will have invested in so much. I want to start here. So, wish me luck!
Now, let me show you the progress:
Here you can see the workers fixing the second floor and building the front of my store.
I am sharing now some more pictures of what will soon be my tenants' space. It's not yet done, but soon it will be finished.
And now I need your advice! For those of you with experience renting out property:
- How long should the contract be?
- What about deposits – one month? Two months advance?
- How do you find and select good tenants?
I would really appreciate your tips!
Aside from that I wish everyone a blessed Sunday! See you again in my next post!