Hard work and courage really pays off. A vlog of Mr. July Paunil showed how one of our kababayans in Qatar was able to own a 9-door apartment. This is the result of working for a decade in Qatar.
Since he used to rent a house, he understood the importance of creating just the right floor area so it will not be expensive to rent. But he did not scrimp on the materials he used.
Note: Information and pictures shared here are based on a video uploaded on YouTube Channel July Paunil. If you have any specific questions regarding the video, please contact the vlogger.
OFW’s Success Story, Filipino in Qatar Builds Business in Philippines – Room for Rent
Our kababayan started working in Qatar to improve his life, as well as the others who depend on him. But he longed to have his own house. He already had a design for his dream house.
He also wanted to have an apartment, which can be his source of income in the future. From the piece of land, measuring 80 square meters, which he inherited from his parents, he planned on building an apartment complex. He wanted it small and compact so that the rent will be affordable.
To build this dream apartment, he needs Php 3,000,000. This amount did not deter him. Even if he does not have the required amount he found a way to start the construction. He borrowed some money from relatives and took out a loan just to get started.
When he applied for a building permit at city hall, his original design was not approved. So after some revisions, his new design was allowed. This led to the nine-door apartment.
Finally, he had the 40% down payment needed to pay the contractor, so the construction started. In June 2019, the groundbreaking began. Although each room is small, he wanted the tiles to be installed properly. He also chose a sliding window and a wooden door so that each unit is appealing.
Construction commenced according to schedule. His contract with the contractor encourages the crew to work faster so they proceed with the next part of the phase. After 8 months, his apartment complex is complete. There were some delays in the completion of the apartment due to the start of the pandemic, as well as some issues with the needed permits, as well as NAWASA and MERALCO connection.
Tips for those who want to have an Apartment Business
In July 2020, the apartment complex is fully occupied. Our kababayan’s dream house would have to wait for a while.
He also shared these tips to those who want their own apartment:
- Don’t wait to complete your budget since it is not easy to save up the needed amount. Whatever you have at the moment, use it before you spend it somewhere else.
- You can borrow from others if you don’t have enough funds. Just make sure that you will pay back what you owe.
- Think positive. Try to find ways to come up with the needed funds to keep the construction going.
- Be frugal. Don’t engage in a lot of vices.
- Be happy with the success of your fellow OFWs so you will get good karma.
You can watch the complete video here:
Requirements to Register the Apartment
Having your own apartment is a profitable business, due to the demand for housing. As a business, you will need the necessary paperwork. These are the permits you will need:
- Mayor’s permit
- DTI Business Registration
- BIR registration
You need to accomplish the DTI requirements first, before applying for the mayor’s permit and BIR. Some of the requirements you’ll need to present are barangay clearance, government-issued IDs, floor area of the business, and capital assets.
There is usually a one-stop-shop for permits application at your local city or municipal hall. It is best to visit these offices first, so you can get an idea of what you need to prepare for your business and how long you should need to accomplish these. You can also get an idea of the cost you need to prepare to get the necessary government permits.
Like our kabayan, we can achieve our goal as long as we have determination. It would also help to know more about the project that we want to embark on.