Philippines Forum

nonievales
Joined 2012
Posts: 111

10 years ago

Expat Cooperative Anyone?

10 years ago

Hello Fellow Expats,

Here is an idea that may or may not get traction depending on how it is viewed. I am on this forum first of all to learn from others who have been in the Philippines longer and more experienced. I am also here to give help to those who need and could use my help. Most of you are, in the eyes of the locals, foreigners. I, on the other hand, can blend because I was born here but left for America when I was young and only recently returned to enjoy my remaining days away from the stresses of my previous existence.

I know for a fact that most Americans, if not most other foreigners as well, come to the Philippines because one can survive on much less here than otherwise in the U.S. or any other first world country. The only thing is most of us have to adjust to the standard the Philippines has to offer.

Some of you come here with enough resources to provide for your every need. Some only aspire to afford to own a little more than the basics. And, even if one can afford to buy on installment, the Philippine ways could prevent you from buying what you want, such as local proof of income, age limitation and the like. Besides that, as most of you now know, all you have to do is show your foreign skin and the prices go up.

Let me reiterate that this is only an idea even before I lay out what I think. I am not here to take advantage of anyone and I came up with the idea because I have personally experienced the discrimination despite my looking like the locals. Anyone can take this idea and run with it if enough people think it is workable. I don’t have to be part of it at all.

The idea:

A few of us, if not most, would probably want to be able to buy a car or a place but can’t afford to buy in cash. However, most of us probably could afford to pay the monthly installment if given the chance to purchase.

If enough Expats get together and pool resources, the cooperative, so to speak, can finance purchases fellow expats might want to buy and to ensure that the cooperative does not lose any of its resources, the purchase would be named to the cooperative until such time that it is fully paid and only then that the title will be transferred.

It is simple in concept and maybe more difficult to execute, but if enough people are interested to discuss it in this forum, who knows what could happen?

As an example, should I decide to buy a piece of land I can’t afford on my own in cash and the cooperative I belong to finances the purchase, I would be willing to risk losing the land to the cooperative should I not be able to meet my obligations for any reason, even death and would be grateful for having given the chance.

Some of you might come up with even better ideas. I just thought I’d open this discussion.

Much luck to all…

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Allianz Care

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Allianz Care

Flexible solutions allow you to tailor your cover to meet your needs and budget. Use Promocode: LIFE10 and get 10% off your international health insurance for life!
Get Quote

Contribute
Help others in Philippines by answering questions about the challenges and adventures of living in Philippines.