Today, we’re kicking off a mega-project that will most likely take years, probably even a lifetime to complete.
We’ll be reviewing real estate developers and their projects and sharing our findings with you here on our blog, CashflowRealty.net.
This project was prompted by the story of a seaman who bought a condo from a bad developer, their dream home becoming a nightmare. I believe this could’ve been prevented had the seaman have enough information on the developer.
At that time, information was just not available. Now through the power of the internet, more and more information can be made available to the public.
Then, we gave you our 5 tips on how to choose a real estate developer. These tips should help you in choosing a real estate developer to work with.
In our business, we find that people make better decisions when they have good information on hand.
So what are we going to cover in each of our reviews?
We’ll start off with the company background. We’ll give you the company’s history – from the time that they started operations and to the projects that they have completed.
We’ll then go and see if they have their government registration in order by checking the DTI, SEC and HLURB.
Next, we’ll share with you how the market perceives the developer in terms of delivery record and customer service. This will be based mostly on opinions of clients and brokers, and our experience dealing with the company.
Finally, if available, we’ll look at the financial reports and gauge the company’s stability. I can’t stress enough how important this aspect is especially if you are buying a pre-selling unit. Stable companies can deliver and finish projects while unstable ones cannot. That’s why this is so important.
Now, we’ll be upfront with you this early that you will probably see some bias on our end as we will be representing some of these companies as real estate brokers. But, we’ll try to be objective by covering both the good and the bad.
Eventually, I believe this exercise will lead us into representing only the best real estate developers in the Philippines.
On our next post, we’ll go to our first developer review – SM Development Corporation.