Studio City Alabang: Profit From Real Estate Investment (Update)

As you may have known, I ventured into investing in a residential condominium @Studio City Alabang, which you can read from my previous post. I also mentioned that I am leasing it out through Freedom Cares.

 

Last year July marks my 2nd year with Freedom Cares and I thank the Bro above because my contract is going to be… R-E-N-E-W-E-D! I have the very slightest, modest, slim chance doubt that it will not. Though, Lala of Freedom Cares assured me I don’t need to worry because they will take care of my unit.

 

Last year (June 14, 2018), I got an unexpected email from Lala.

 

Email from Freedom Cares

 

My tenant will renew their contract! On top of that, the monthly rent will be paid 6 months in advance and it will increase by 2k. I was reading the email on my way home and I can’t contain my euphoria.

 

During the weekend, one thing I did was to compute how much am I going earn on my 2nd year with my unit (I have a habit of computing stuffs XD). I bought my property around 1.9M in mid-2014. This year after some research, they are selling it for whooping 2.7M to 2.9M. That’s $$$ increased.

 

Nevertheless, selling the property is not my priority. It will be my Batcave someday. So, I computed my receivables from my property this year and the expected expense. 

 

Spreadsheet computation

 

This year I’ll be having a whooping of 18% profit. Comparing it from my 1.1% last year* which we can factor in the expenses I paid furnishing out of the unit.

 

Ian

Millennial who is striving

to be Financially Independent

 

*- Rough estimate.

It’s the most wonderful time of the year! Thank you Freedom Cares!

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