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Question:

Is opening an apartment building in the Philippines a good idea?

I'm a Filipino-American currently living in the states (NJ)My American father recently died and left me a huge amount of money in inheritanceIn total, exchanging into Philippine pesos, it would be P20MI've always wanted to go back homeGusto ko na po umuwiI'm planning on applying for dual citizenship soonI am also 28 yrs old and singleMy Filipino family already have a house in Binan, Laguna, so I will be living there with my familyNo need for a house or condo for me to stayI just need to buy a car/suv for meI'm just thinking of what business adventure I want to go intoI thought of opening an apartment building renting it out to college studentsBut afraid of what the inital costs will beAny advise? thanks! :)

Answer:

Great idea! You can make easy money without having to do any workSince it is for students there is no need of elevators so that alone saves a ton of moneyMake the rooms small so you can have more rooms in a small space

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