I own 1% of a beach resort (3-star) in the Philippines from an inheritance and I want to cash out. What kind of brokers would I approach about doing so? Or is there a marketplace/website where I can advertise this?

Considering it's only 1%, it is hardly controlling interest, but I guess it buys a seat at the board... I'm really not certain. My family owns approximately 65% of the resort, with a large chuck-- approx. 40%-- owned by a wealthy uncle who decided to invest heavily in the resort and upgraded it significantly. He's not so wealthy however that he wants to buy my share out, and it really wouldn't be worth his while because an additional 1% doesn't mean squat to his voting rights (he is the President), but does mean he would be out a fairly large chunk of $$$ if he bought my share.

Any ideas guys?

 

If the resort is making money and your share is a good investment you should be able to sell it woth no problems. I'd contact large accounting firms in the Philippines and ask them to refer their clients to you. I'd also offer them a finders fee.

 

Shouldn't your family have an idea of who might like to buy it?

If there are no issues with foreigners owning it, you could just ebay it. Also, if you do a search on timeshares for sale using google, you'll find lots of places reselling timeshare units and vacation properties.

If your family's anythinh like mine, they probably have lots of Filipino connections who might like to buy it as an investment. I know my father-in-law still has a few properties over there, and he hasn't lived there for 37 years.

 

Check the operating agreement of the business entity. There should be provisions about redemption of shares/interests. Otherwise, contact a real estate broker in the area. They should be familiar with marketing and selling real estate investment shares.

 

thanks for the input guys. I'll check into your suggestions.