Manila – BGC Car Show (The Immense Appeal of World Class Tier 1)

On this blog, lately I have emphasized and re-emphasized over and over again the importance of focusing our early FI efforts on accumulating World Class Tier 1 assets. Although this concept may seem simple in nature, you have no idea how easily this is lost among the masses out there, even when we’re talking about some of the smartest brainiacs that I have ever met in my life (who still don’t get it and keep getting lured/tempted/seduced to the dark side of buying up shit assets)…

Investing/speculating just isn’t as simple and straight-forward as it should be, unfortunately…

There’s just way too much misinformation out there, not to mention pump artists, con artists, scam artists, bullshit artists…

Who want YOU to part with YOUR money!

You get the idea…

And unfortunately, through my own experiences, I have been: duped, lied to, misled, and made horrendous decisions that nearly de-railed and destroyed my early FI dream entirely.

So, absolutely, I don’t take this shit lightly and I don’t want to ever see anyone else make/repeat the same near-fatal mistakes that I made (i.e. gambling on hopeless junk properties in Shitcago).

On the flipside of my fuck ups, I’ve also been blessed and fortunate enough to invest/speculate on some truly World Class Tier 1 assets that have changed my life for the better (i.e. Bay Area rental property).

Yes, as always, in the Game of Life, you gotta:

 

Live and learn.

 

With that said, it’s no secret to readers that right now I’m staying in Manila (Bonifacio Global City), enjoying my time here, and looking to purchase my first personal residence.

Because of Shitcago, you can of course say that I am proceeding with a lot more caution these days, and trying to make extra sure that I am indeed chasing after the right type of home that won’t have me lamenting/regretting/crying a river in the future.

So far, all my research and datapoints are CLEARLY telling me that BGC is no joke, a serious up-and-coming global city, and a place that is quickly becoming a desirable tourist/expat destination.

When in doubt, follow the “big money” and try and go where they like to go… or will eventually flock to in droves.

Case in point, it’s observations like the following that only inspire more confidence in my decision to invest/speculate in a city like BGC.

Car shows are nothing new in BGC (Burgos Circle), and I even observed this last time around when I was here earlier this year in January, but nonetheless, I caught hold of this today so I figured I might as well at least talk about it…

No, I’m not much a car guy myself (I prefer to just rely on Grab/Uber, thank you very much), and although some folks might get irritated/peeved by these “loud obnoxious attention seekers”, whenever I hear a speedy race car zooming by, I can’t help but smile…

Like this Ferrari…

Ain’t no car show without a Lambo…

Lamborghini Manila.

Porsche.

911, I believe…

Another Porsche.

Yet another Porsche…

Anyway, you get the idea…

But what makes me smile with glee is when I see these type of cars proliferating the Burgos Circle area, to me, it’s just a good indicator that the area as a whole is “high end”.

In other words, the rich peeps wanna be here because the area is:

  • Safe and secure.
  • Desirable/luxurious.

If you’re attempting to make money speculating and you’re looking for a “safe and secure” place to live in, more often times than not, you’re probably going to do quite alright chasing after the above bullet points… and can gain an entry point at a very attractive price.

In contrast…

When I blew myself up in Shitcago, I was chasing after neighborhoods where you would never ever hope to see these type of cars… The owners wouldn’t be stupid enough to put themselves (and their cars) at risk in such a dangerous location… where crime/violence is off the charts…

But I digress (for now)…

And check out this view from Burgos Circle, which lies adjacent to a country club/golf course…

The view is from one of the Bellagio Towers… Overlooking Makati City skyline…

And again, here’s the other view, looking at Burgos Circle.

Look, I know people like to bash on me and this blog b/c I’m perceived to be a “total gambler”…

But let’s be real here — Whether I’m debating speculating on an investment property or personal residence, of course I need to be forward-thinking… I gotta try and look out 10 years from now and and put forth my best guess as to what the long-term trend is gonna be…

 

With Shitcago, I see nothing but troubles/problems/headaches/heartbreak…

With BGC, I see vitality/growth/prosperity/sense of pride…

 

It’s night and day, really… in my own humble opinion…

 

I mean, even if my plans are to live in a unit, I would be lying if I said I don’t think about things like exit strategy… That’s where I fucked up BIGLY in Shitcago… I had no fucking exit strategy… at all… At least not a viable one that didn’t end in tears…

 

With BGC, I feel very confident that property values will keep climbing up and rent appreciation will dwarf anything you’re gonna find in most Class B/Class C pockets in the Midwest of America…

 

Forget all the “cash flow baby” pump artists out there… I hate to be so blunt, but I feel like a lot of these pump artists are full of shit and trying to sell you an even shittier product…

 

I ain’t drinking that Kool Aid no more…

 

I didn’t get to early FI gobbling up mediocre assets that ANYONE and their dog can own!

 

With the benefit of hindsight, my best investments to date have been my Bay Area rental property gems… With BGC, I see a lot of that potential here as well…

 

Simply, BGC is just a nice/clean/safe/modern place to live…

 

And like the pictures show you, there’s affluent owners who don’t mind spending time here… and they have no fears rolling into town in their pimped out rides…

 

All the better for a scrub like me… I just blend in the background b/c I ain’t worth the time of day around here… I am chump change, which is just fine with me.

 

And really, recently I had a conversation with a local realtor and he had this to say to me:

 

If you’re gonna buy something in BGC, you really can’t go wrong in an area like Burgos Circle. That spectacular view, the quietness of the area (due to the golf course), and proximity to everything will always make it a desirable/coveted place to live. It’s pretty easy to re-sell these units… and tourists love staying in this part of town.

Here’s a quick video “tour” for you…

As I already mentioned to you all, my own preference is to buy something closer to the Uptown area because I think that’s gonna be EVEN MORE “high end”, “posh”, and “luxurious” than Burgos Circle, so the price/rent appreciation potential will be EVEN MORE potent in Uptown…

 

But still, Burgos Circle is also pretty dope… and I wouldn’t mind owning something here either.

 

In any case, there’s a lot of “high rollers” who hang out in BGC, which only helps my cause and makes me feel more confident in my decision to “gamble” out here.

 

Yes, I’m looking for a long-term personal residence to live in… But as a safety net, if I can secure a place that offers immense price/rent appreciation as well, I see nothing wrong in locking something down that could one day provide some more “life changing gains” for me.

 

Lesson learned — Fixate on World Class Tier 1 QUALITY.

 

All the haters can continue fixating on shitty cash flow in the most dilapidated/no-growth/high crime/warzone areas…

 

That’s not my bag, baby…

 

I’m following the: Lambos, Ferraris, Porsches, etc.

 

Fight On!

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Jack
Jack
1 year ago

Like your – no bullshit – take on investments. You’re right, literally everyone is out to con the small retail guy and to separate him from his hard earned cash. With that said, what’s your take on the rising interest rates we’ve experienced in the US? Could this possibly mean that real estate in the US has peaked again now that mortgage rates have showed a rising trend? What does that mean for global real estate if the long term rate cycle has finally turned up? Personally, I’m seeing this rise in rates as the final “blow off” spike as… Read more »

FrankO
FrankO
1 year ago

Just be careful. You tend to be a bit of gambler by nature so what happened in Chicago was bound to happen. No need to always hit grand slams…just try for singles here and there and you’ll be fine

georgehpuck
georgehpuck
1 year ago

Are you allowed to rent the properties you are looking at? IF so will a renter pay the cost of the unit? Ie property taxes, HOA, etc?

Also do you have the ability to do short term rentals?

Is there any concern with the stability of the government in the Philippines?

V
V
1 year ago

Super interesting article dude. Keep us/me posted. Was in BGC in 2009 and also this year. Some sweet changes. I’ve been interested in purchasing something in the Philippines.

al
al
1 year ago

” Because of Shitcago, you can of course say that I am proceeding with a lot more caution these days, and trying to make extra sure that I am indeed chasing after the right type of home that won’t have me lamenting/regretting/crying a river in the future. ” hope you won’t be offended by this new comment, and thus terminate for the umpteenth time my blog subscription. If you move to “cheap” Manila to do a life style price arbitrage compared to expensive CA Bay Area living costs, spending your hard won $300k on a 100 square meter condo in… Read more »