AboutBill and Lorna Collings Expertise Feel FREE to ask us about traveling, living, relocating, retiring and investing in the Philippines. Guests from 83 countries make our place in Manila an incredible meeting place for world travelers who exchange travel stories and information. We understand both the joys and the hardships of living and traveling in the Philippines.
Experience I arrived in the Philippines in January 1980 to travel for 2 months; I stayed 4 months before reluctantly leaving. I met my Filipina wife, Lorna. an incredible stellar, "one in a million" individual in 1983 in Seoul and we moved to the Philippines in 1986 and opened our 3BR house to world travelers on a budget. After welcoming thousands of guests from 83 nations our place has grown to 30 bedrooms but will never lose its "Home away from Home" atmosphere. Almost everyday at The Townhouse Hotel there's a party-like social scene with vibrant, almost magical energetic conversations between our guests who have the pleasure to meet each other and share their life's many experiences. Sometimes. three groups with conversations in different langauges are going on at the same time.
So we've been exposed to every kind of person from all over the world and shared their experiences.
Publications Suite101.com, eDreams.com, expertcentral.com ( who asked me to apply with allexperts.com since About.com has bought both companies and are in the process of integrating them)
Education/Credentials some college 2-1/2 years - no degree - I've been traveling since I was 18, almost 30 years.
Awards and Honors Luckily, my wife and I have been semi-retired since we were 30 years old, more than 15 years.
Question QUESTION: hi, i wanted to query about boracay since you are in the business and presently residing there..as all we know 90 percent of property in boracay is under tax declaration, I wonder how this work if there will be someone do the joint venture..(land owner and investor)how this investor able to sell condo units on tax dec papers only not a title, coz most buyers always ask for security..such as title..
and how this land owners attract this investor to join them for business since it all tax dec ..everything so unclear..can you tell me details on how they do this...
plan to buy land there, to develop yet all these question hold me..
thanks
ANSWER: Our advice is to stay CLEAR or be extremely CAUTIOUS and TAKE YOUR TIME IF and when considering ANY kind of investment in Boracay land / resort projects ESPECIALLY "joint ventures". Generally speaking we do NOT trust partnerships and translate terms such as "joint venture" as "Give me money to develop my land then allow me time enough to save enough money to get rid of you, legally or otherwise "
Yes you are correct that a Tax Declaration is used as a "Title" for 87.5% of Boracay land ( the 89 hectares of Ayala Land in Yapak and 25 hectares now the golf course being the ONLY TWO TITLED properties ) Presently there are several condo projects which we have lots of doubt about as they are NOT located on TITLED LAND NOR are arroved by Security & Exchange Commission. We look at these developments in AWE as people are buying one bedroom condos for U$185,000 CASH and 2 bedroom condos with 140 sqm floor area for U$295,000.
Of course there are ways of investing and making a decent return on investment but it's BEST to think smaller if limited by the amount one has to invest, rather than investing or being PART of something larger.
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QUESTION: I think there must be something procedure that they do to make things legalize (thats I wanted to know)coz those investor is not naive to give out thier money without properly investigatigating.if you can see big names now in boracay investor is coming there,and they are really making huge amount as business.(you cant imagine how much they earn each day) so i dont think that they dont have proper papers on this,because they are on millions investment rich people and educated..
thats really I wanted to know....
anyway,dont worry we will research, thanks
Answer We OWN and operate a Boracay beachfront Casa Camilla - Boracay ( our 2nd opened in March 29 1995 and built and opened our 1st Boracay beachfront resort, Villa Camilla back in Jan 7, 1991 ) We arrived on Boracay in late 79 and 1980 and my wife bought her first Boracay land back in 79 in Diniwid. We have been on Boracay on and off for almost 30 years so have experienced BOTH the UPSIDE making alot of money and the DOWNSIDE being defrauded, cheated, hassled and threatened. But of course when possible investors feel motivated to to find a joint venture investment many do NOT enjoy taking a good hard look at the DOWNSIDE. So go ahead and GOOD LUCK! Bill
