Realistically Speaking And Choices....

[Curley]

 

but would also add be careful about purchasing a property in the UK as a rental, as i understand things the UK Govt are going to tax expats who have UK property.

 

http://www.telegraph.co.uk/expat/expatnews/10458673/Thousands-of-Britons-caught-up-in-tax-raid-on-wealthy-foreigners.html

 

Thanks John,

 

I would have to look at putting the property in the name of my son I guess.

 

 

 

WHY, WHY, Why do people think that investing in rental property is a good proposition for an absentee landlord? What happens if your tenants trash the place? What happens if they have kids and don't pay the rent? Will the courts throw them out on the streets straight away? Do your sums properly it is not a good investment. Put your money into a selection of blue chip stocks and be happy with the small SAFE return and feel happy in the knowledge that should you want to liquidate some or all of your funds it's a simple process that takes 4 to 6 weeks..... very different from having to sell a property quickly. Putting it in your sons name? What would happen if he were to suddenly die? Who would inherit the house?

 

An Aussie friend in Thailand rented his house to a tenant with the local government guaranteeing his rent. Fine for three years, the local council now want him to spend $15,000 to bring the place up to standard so that he can rent it out again..

Edited December 2, 2013 by Curley

[BrettGC]

WHY, WHY, Why do people think that investing in rental property is a good proposition for an absentee landlord? What happens if your tenants trash the place? What happens if they have kids and don't pay the rent? Will the courts throw them out on the streets straight away? Do your sums properly it is not a good investment. Put your money into a selection of blue chip stocks and be happy with the small SAFE return and feel happy in the knowledge that should you want to liquidate some or all of your funds it's a simple process that takes 4 to 6 weeks..... very different from having to sell a property quickly. Putting it in your sons name? What would happen if he were to suddenly die? Who would inherit the house? An Aussie friend in Thailand rented his house to a tenant with the local government guaranteeing his rent. Fine for three years, the local council now want him to spend $15,000 to bring the place up to standard so that he can rent it out again..

 

I've lived interstate from my property for many years, and on a couple of occasions overseas for 2 years stints, never had a problem.  Key to success is having a good property manager who can act on your behalf in all respects with regards to the lease and upkeep of the property.  I've been lucky the last few years, had the same tenants for 7 years and they're great.  Like owning an investment property anywhere, it does has it's ups and downs but you have to ask yourself why it is such a popular and for the most part successful option, here in Australia at least. 

Edited December 2, 2013 by BrettGC

[Curley]

 

WHY, WHY, Why do people think that investing in rental property is a good proposition for an absentee landlord? What happens if your tenants trash the place? What happens if they have kids and don't pay the rent? Will the courts throw them out on the streets straight away? Do your sums properly it is not a good investment. Put your money into a selection of blue chip stocks and be happy with the small SAFE return and feel happy in the knowledge that should you want to liquidate some or all of your funds it's a simple process that takes 4 to 6 weeks..... very different from having to sell a property quickly. Putting it in your sons name? What would happen if he were to suddenly die? Who would inherit the house? An Aussie friend in Thailand rented his house to a tenant with the local government guaranteeing his rent. Fine for three years, the local council now want him to spend $15,000 to bring the place up to standard so that he can rent it out again..

 

I've lived interstate from my property for many years, never had a problem.  Key to success is having a good property manager who can act on your behalf in all respects with regards to the lease and upkeep of the property.  I've been lucky the last few years, had the same tenants for 7 years and they're great.  Like owning an investment property anywhere, it does has it's ups and downs but you have to ask yourself why it is such a popular and for the most part successful option, here in Australia at least. 

 

 

As you stated......"I've been lucky"

 

I used to think along the same lines but now that I'm retired I want my money to be flexible as well as safe.

[roknrich]

Why choose now ?  Still single and a good paycheck will allow you to pack light, take a trip, and spend a few months in several countries...if you've narrowed it down to Thai and Phils, try to visit those places twice as your outlook on things will change along the way....but you never know if somewhere else might catch your fancy as well....Cambodia, Vietnam, Laos, Indonesia are other possibles....

[Ruben Scouse]

Why choose now ?  Still single and a good paycheck will allow you to pack light, take a trip, and spend a few months in several countries...if you've narrowed it down to Thai and Phils, try to visit those places twice as your outlook on things will change along the way....but you never know if somewhere else might catch your fancy as well....Cambodia, Vietnam, Laos, Indonesia are other possibles....

 

That's what I plan to do initially. I am going to go on a tour of SE Asia. I love Thailand but until I have checked out the other countries I won't know where I'm gonna hang my hat.

 

TBH it's the picture gallery on here that draws me in, lol :yes:

[joeatmanila]

if you have any savings buy an appartment in England even if you make no money out of it. It is good having your own place, never know what the future brings.

As for the 38.000$ per year in philippines, hmmmm 38:12=3160$/monthx42=132720pesos (round it up to 130.000p/month)

10-15.000p/month rent for a good to an upscaled non furnished appartment.

10.000p/month groceries of a westerner for one person

15.000p/month electricity, internet, utilities, water

So 40.000p covered your basic needs. you still have 90.000p to spend.

going to girlie bars every second day (give it a day to recover from the hangover of the previous night) would be a 5000p/night with the price of the girl included

so that is another 75000p and you still have left 15000p left over for clothes (you hardly need any more than a few shorts, t-shirts and flipflops), and other incidental expends. 

If you cut down to the girlie bars...and not visit them at all, instead fishing girlfriends online or anywhere else, you might end up with considerable saving too!!!!

 

ENJOY!!!!!

[bows00]

 

 

but would also add be careful about purchasing a property in the UK as a rental, as i understand things the UK Govt are going to tax expats who have UK property.

 

http://www.telegraph.co.uk/expat/expatnews/10458673/Thousands-of-Britons-caught-up-in-tax-raid-on-wealthy-foreigners.html

 

Thanks John,

 

I would have to look at putting the property in the name of my son I guess.

 

 

 

WHY, WHY, Why do people think that investing in rental property is a good proposition for an absentee landlord? What happens if your tenants trash the place? What happens if they have kids and don't pay the rent? Will the courts throw them out on the streets straight away? Do your sums properly it is not a good investment. Put your money into a selection of blue chip stocks and be happy with the small SAFE return and feel happy in the knowledge that should you want to liquidate some or all of your funds it's a simple process that takes 4 to 6 weeks..... very different from having to sell a property quickly. Putting it in your sons name? What would happen if he were to suddenly die? Who would inherit the house?

 

An Aussie friend in Thailand rented his house to a tenant with the local government guaranteeing his rent. Fine for three years, the local council now want him to spend $15,000 to bring the place up to standard so that he can rent it out again..

 

Investing in stocks, especially when one is decumilating one's assests during retirment poses greaters risks than long distance property management.  Just imagine what would happen if a equity rich retiree experienced a market similar to 2008?  It would wipe out 50% of his assets.  But I am not saying stocks are bad... I firmly you believe you should always be invested in stocks (index funds)... at all times... but it is not an all or nothing situation.   Diversifying some risks, by investing in rental income (especially where the real estate market is stable) is a good choice for sustaining regular monthy income.  Will there be headaches?  maybe.. but the times are dfferent now.. no longer are the days where you can park your capital in CD and bonds - sit back and gurantee a decent monthly income...  

 

IMHO, a retiree should shoot for at least $4000/month to live out his dreams in the philippines...

[Tukaram (Tim)]

For $4,000 a month I could live out my dream life in the US!  And as a bonus could drink the tap water ha ha

[BrettGC]

IMHO, a retiree should shoot for at least $4000/month to live out his dreams in the philippines...

 

Boggle

[robert k]

$4,000 a month? Some of us have wilder dreams than others :hystery:.

Edited December 12, 2013 by robert k