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Saturday, August 3, 2024

Ending an adventure on untitled property project, accepting risks and reality

Looking forward to the future of business

This post dreamed of things that were not and asked why.  So since there were plenty of untitled properties begging for development, this post answered that call.

1.  This post tried to negotiate for a 3.5 hectare property near a convention center.  The property is owned by the son of the late friend developer,  To show our interest we lent PHP to the owner.  However, it turned out it was a no go since his brother preferred to sell.  We had the mayor and MPDC pre approve this but now we are left hanging.   The agents assured that we can have this titled.   No title no LTS from DHSUD.  Its going to be an illegal project without LTS

2.  Substitute projects also untitled were forwarded by the agents   One was 2.9 hectares and located at a trail road, which was steep, and the other was 2.1 located along the newly built highway.   The sites could serve roughly 80,000 population and had great overlooking views

      1.  The 2.1 hectare had two cases one in USA, the other here in RTC Antipolo.  The owner is a US
           citizen (a  red flag)  He signified his intention to go on Joint Project.  However the papers were                not delivered early to to me as promised

     2.  The 2.9 project.  It was represented that the decision was to be made by former suppliers.  However it turned out 6000 sm was owned by them.  The 2.2 hectare was owned by step brother who lives in neighboring province He had a stage way of doing business ie for us to make an offer though  did not have the documents

3  The titling and the Guido case:

     We were supposed to meet the persons who could answer the questions on Guido case titling via
free patent:   RA 10023 (Public Lands Act)   RA 11322,  RA 11571.   

      For Guido case the lady Guido was cutting me off, despite the fact that we were there to ask questions.   She was emphatic that they owned the large estate, and under the SC ruling she could ask the LRA and DENR to withdraw titles that have been previously issued.  

     The DENR that we were supposed to meet was not there.  There is no more meeting

     I just asked for a sample Free Patent that was issued brokered by the facilitator that showed:
Guido had issued the applicant with the a waiver, the OCT issued by DENR. This would settle the doubts about the additional expense (which is substantial) to erase all the doubts about the titling  He hesitated and said later and neutralized the request, by saying what use will it be anyway if we dont believe.   He also decried that assigning another party to be convinced to make the final say which is an illogical way of parrying the points being raised.

4.  The actions character of the facilitator

     Red flags and alarm bells were ringing:   The facilitator could not be trusted:

    1.  He was late for appointment

    2.  He misrepresented often:

         1   In the 2.9 property, he mentioned that we were meeting on ministerial way as the elders have
         decided

         2.  That in the case of DENR, we would meet them yesterday, there was none

         3.  That we could ask questions but this post was cut off by the Dona

         4.  He would send docs by gmail but did not

    3.  He often would say we should decide soon, or how should we answer the other party knowing 
          fully well what the problems well

    4.  He had the habit of putting this post on edge which borders on attack on my personality:

        1.  Why did I pass on the decision making to someone else?
        2.   Why am I wasting his time (he made the business proposal)
        3.   Why dont you consult the lawyer if you do not believe.   

Well I was hopeful that we can give him a chance.  I was willing to help him in other business deal.  Disregarding that he spent some time behind bars for violating RPC 315!

    5.  He asks advances and money up front.  Even for a meeting -  A VERY VERY RED FLAG

    6.  He often plays this post against other business acquaintances, and to disregard on going transactions:

        1.  He was approached by Brilliance (a possible ML ) who would eat him up

        2.  A very wealthy realtor who is in to very large real estate development who would finance
             his project

        3.  He has a P500 million deal for the payment of the road way for the Manila East road for the
             Guidos.  ENOUGH playing this post against others.  Not in a mood for contest of egos and
              wealth

I am glad its over.  This business episode has caused a lot of thinking and worries on my part.   

    

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