Real estate is a lucrative investment option for Filipinos. Many Pinoys built up their equity within 10 years of buying a condominium unit. Those who bought their first unit in their twenties have the daring and youthful vigor to begin building up personal wealth from investing in real estate within that time frame.
For young people, investing in real estate may seem a daunting undertaking, but it is not impossible. This is what Sonny Valle, 19, had in mind when he started to put his investment into good use. He and his family own a condominium unit at SMDC Grass Residences.
Sonny is still a teen and already an entrepreneur. He was in his mid-teens when he took the entrepreneurial path. At age 15, he dropped out of school to help out in his parents’ business. He became an encoder and eventually the family business development head. He said, “It was hard at first, but I found the roles satisfying. Apart from managing our business, I have side hustles online: buying and selling, stock and cryptocurrency trading, and operating an online food business.”
“In 2016, I was with my parents in SM North EDSA when an agent handed me a flyer of SMDC Grass Residences,” he said. “At first, I thought nothing of it, but when we viewed the property, I realized its potential and value.” They met with the agent and the rest is purchase history.
The teen entrepreneur thinks many people underrate Grass Residences, but he proves them wrong and sees that the property is “very accessible and there are a lot of establishments within the area.”
Grass Residences in Quezon City is beside SM City North Edsa, connecting to it through a bridgeway. Developed by the fastest-growing real estate company in the Philippines, SM Development Corporation (SMDC), Grass Residences is a convenient, exciting, and entertaining place to come home to.
Sonny assessed that the investment worth of his SMDC unit was in its property value, the SMDC brand itself, and the accessibility and convenience it brings to its occupants. The continuous urban redevelopment improvements in the area also boost its property value.
At first, Sonny thought of renting out the unit. The lease amount would be enough to pay for the monthly dues and other expenses. But the unit could return a higher yield. “I convinced my parents to renovate our unit and then rent it out through Airbnb,” he said.
His parents took months before agreeing to his plan. “I told them that I’ll handle the business since I have a background in social media marketing. Managing an Airbnb unit was a breeze for me,” he shared.
Sonny and his parents plan to scale up their Airbnb business. The unit is never a “sleeping” asset: during off-peak periods, they make it available as a property rental service, maximizing its income. The unit is occasionally improved so that it could be rented out at a higher price. “The beauty of investing in real estate is you’ll be stress-free in paying the mortgage, as you get passive income from rental units.”
As a word of advice, Sonny has this to say: “Young entrepreneurs need to be innovative and knowledgeable of the new norm. There is no excuse for not being informed of the opportunities that are outside of our comfort zone. We have all the resources we need so if you want to achieve one thing, then go for it. Don’t wait for the right timing, just do it. Invest early while you are young because your older self will be happy with you.”
To learn more about SMDC and its developments, log on to www.smdc.com.