I feel if I can get to $500k I can buy some property, get them leased and move to Bali where I can live off the monthly rent and in a /comfy/ studio, surf everyday and workout/ work on my personal coding projects for fun.
Why shouldn't I do this Veeky Forums?
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>$500k of property
>live off the monthly rent
pretty obvious you don't have $500k because if you did, you would have already looked into real estate and realize you can't live off the profit that $500k worth of property would bring you, especially if you're not the local guy managing it
u wot? Places in my neighborhood are around $150k and rent for around $1k-1.2k/mo. After taxes there should definitely be enough left over.
also
>if you're not the local guy managing it
lmao
1st step, get $500k
good luck
Indonesia is a shit hole.
after taxes, insurance, repairs/maint, replacement reserve (for larger items like a hot water heater), HOA fees (if you're buying into one of those), you'll only have a few hundred bucks per unit per month
this is why people borrow money for rental properties instead of buying it in full. you need leverage to make it worth while
bump , would this work?
Isn't there any other business you can just essentially leave alone and you just collect the pay cheque at the end of the month? Properties not that easy anyway to manage. Like a subway store or something with a better ROI.
so basically not buying anything in full and using the $500k as deposits, and keeping whatever is left after the mortgage is paid?
Own a whorehouse
Returns vary greatly depending on:
1) where your property is located
2) vacancy rate
3) Property / Local / National taxes
4) Maintenance
5) Management costs
6) Tenants.
Using your example of $1.2k rent per month on a $150,000 property, and assuming the best case scenario of 5% vacancy with good tenants and low taxes/maintenance costs....
You'd be looking at around $7,588 profit annually per property.
what's that picture from?
Also, been to bali and it's a total shithole
>personal coding projects
what a meme. code you write either suits some economic purpose or doesn't get written.
Only mentally ill people play with computers for 0 tangible reward
would pick a mexican beach over bali everyday. In terms of culture, geography, and things to do.
youtube.com
sick video that convinced me that I need to be working my ass of now so I can do this instead of wagecucking, obv the video is pretty romanticized and filled with trust fund kids but the idea still stands
that is a better scenario. if your properties are worth $150k and can rent for $1200, buy 15 of them with $30k (20%) down on each, for a total cost of $450k. now you've got 15 properties, can afford to hire a property manager, etc.
I'm an app developer working for a startup, but I'd rather work on my own projects where I have 100% equity rather than 5%, is that stupid?
is attempting to copy the lifestyles of chads and stacies on youtube the big new cargo cult phenomenon?
I miss the simple days when anons thought that japanese girls loved white foreigners and they would drown in pussy if they moved there.
Own 2 flats in Holland, paid 190k,210k euros, Money was left by my deceased grandmother. Spent the passed few years in thailand/vietnam quite comfortably, even manage to save some to put into crypto and other investments. Rent out at around 1k a month each after bills, except have to pay managing company 1 month rent from each property but they deal with all my pajeet renters shit. South east Asia very very cheap. Spent a lot of my time learning muay Thai. Always eating out, can't remember how to cook. You can make it OP, your on the right track.
probably not.
>pretty obvious you don't have $500k because if you did, you would have already looked into real estate and realize you can't live off the profit that $500k worth of property would bring you, especially if you're not the local guy managing it
lol, with £105,000 I bought property in an expensive part of England which net me more than the UK minimum wage. If I had two or three times as much, like OP suggests, I'd be earning a lot more than the average wagecuck, just from the properties.
>anons thought that japanese girls loved white foreigners
>thought
>thought...?
Oh fuck.
everyone in the UK is poor though, not really a fair comparison
Appreciate it brother, I don't plan on jerking off everyday and banging ladybois when I'm free, I'm just trying to get out of the rat race and build my career with freedom. What are up to nowadays? Regret anything along the way?
Dividend etfs would bring you 90% the income with 99% less gyp
Lol what a fuckin joke.
Dealing with scum tenants is not worth it. You would make more putting that $500K into a passive income coin.
enjoy your crowds of kooks, aggro bogans, and asshole indo locals with Bali Bangsar connectiongs faggot bule
There are some major differences between the way real estate works in the US and the UK.
like? Is Europe and U.S that different real estate wise besides the price increase?
You in straya, mate?
It is one of pedo paradise, like thailand and cambodia.
nah, texas
being a landlord fucking sucks sweaty hairy pajeet balls
it's hilarious how cryptokiddies 'moon' delusions correlate with the market. From thinking you can retire with $1MM to $500k in acouple months.
I hope every one of you gets $3MM each and you quit your jobs to buy investment properties/magic fixed income instruments and move to dongzou china or some shit. It'll definitely work out.
Too big to sum up properly here, but:
Huge regulatory differences, commission rates are much lower in the UK (1.5% average vs 5-6% in the US), tax rates between countries vary wildly and the US rates can be rather exorbitant depending on what State you reside in.... there's more and like I said it's a much more intricate subject than one that can be summarized here, but it's definitely something you should keep in mind and research further before jumping in.
interesting, hadn't considered the above, thanks for the viewpoint
also in Europe properties are made of mortar and bricks.. In the US it's usually wood and cardboard
Believe it or not but there is actually a way to buy tiny portions of thousands of profitable businesses. With this one weird trick they will actually send you money every few months as a way of saying thanks.
Bali is pleb tier and pretty much overrun by tourists by now. Southeast Asia is pretty cheap in general, English won't be a problem unless you go deep into the sticks, just pick anywhere but Bali.
I only get money once a year that way ( Usually in April or May )