Just brain storming/no boots on ground as yet...on the possibility of owning a beach front resort here in Surigao City....It basically sits on a 3500m2 plot of land direct pebble beach front & current owners in cebu (think one owner is Japanese) are asking for 13.0m pesos (They leave everything...lot/stock & barrel ('covid' nego has yet to begin).... It has 10 small s/s stone guest homes (approx 25m2/each) with full bed fittings wif A/C's, basically for check in/overnight staying customers + 12 sea front kubos for family swimming activities.
It also has its own dinning area cum kitchen wif 12 sets of tables/sufficient chairs for dine in & makeshift karaoke system.)....Has a front security guard post & another reception area & an open bamboo fitted sari shop + It also has its own groundwater pump.
(I actually stayed/rented one of the family kubo units for seaside swimming in Oct 2019) & remember we had a great time.
Have dropped BDO an email seeking advice for a valuation/bank loan if available (no clue if I and partner will be eligible)....also NO squatters seen!
What do you guys think? & what are the cons of such investments?
Any feedback would be much appreciated.
Thanks