Mike Bird, Epril's cousin's husband, is back in town for his every-6-week 2-week break from work. We spent the afternoon looking at houses for sale in and around Jasaan. There are quite a few. We saw one place out on the highway that looked to be about 1400 square feet (140 square meters) on about one-third of an acre (1500 square meters) with a small pond on it and old growth trees. Quite nice, except that it has been sitting empty for about a year and needs some work. That is selling for 1.2 million pisos, or about $24,000.
After that, Epril and I sat around with the family for a bit.
We went down to the fishing docks and had a wander. I got talking to one of the fishermen there, and started asking him about the financials of owning a fishing boat. This is the second such conversation I've had with a fisherman (the first being Epril's father, with 25 years experience), and this fellow told me the exact same thing as before: Fishing boats are quite profitable. If there is anybody reading this blog who knows anything about owning a fishing boat in The Philippines, let me know. I'm really looking for reasons why I should NOT buy Epril's father a fishing boat, and have yet to find any.In the evening, we joined up with Ron from The Netherlands (his wife couldn't make it) for dinner at The Garden Café in Jasaan.
After that, it was back home to Cagayan De Oro where I played some video games before going to bed.
5 comments:
Yes, this will seem like more questions than answers (because it is).
Profitable: Filipino Style or Profitable: American Style? They seem to be quite different things. Would you be in business with your FIL? How would you split the profits? Who would be the actual owner of the boat?
Tom,
(1) Filipino style of course. I don't know the first thing about operating a fishing boat. My father in law will handle the operations, and my mother in law will handle the accounting.
(2) I wouldn't own the boat, dad would. I wouldn't take any profits on the first boat, but if I bought a second (or more) boat, I'd take a share.
Basically, this boat would be like unemployment insurance for Epril (and me). If (when) I can no longer work (or find work), Epril, her family (and myself) will have this income... if it is merely one twentieth as profitable as I'm told. If it is as profitable as I'm told, I'll buy more boats for Epril's family to operate, and quit my day job.
Also, Ron was telling me at dinner that another profitable undertaking is to own a truck to drive the fish from the docks to the market in Cagayan. You can add another 33% to your profit doing that.
It sounds like a good idea; anytime you can be your own boss, it's better than working for 'the man'.
Plus, Jungle Jil Shrimp has a ring to it.
"Jungle Jil Shrimp"
I love it. Actually laughed out loud when I read that.
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