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If you had half million dollars, what would you do?
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Dave Chance



Joined: 30 May 2011

PostPosted: Wed Sep 26, 2012 1:05 am    Post subject: Reply with quote

cj1976 wrote:
young_clinton wrote:
Spend it on Opium and Whores


That's basically what one UK Lottery winner did.
http://en.wikipedia.org/wiki/Michael_Carroll_%28lottery_winner%29

I bet he had a great time.


Too bad he lost everything and has gone back to being a garbage man...well, he's got some memories to look back on
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fosterman



Joined: 16 Nov 2011

PostPosted: Wed Sep 26, 2012 1:11 am    Post subject: Reply with quote

either, buy a house, or open a business.
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radcon



Joined: 23 May 2011

PostPosted: Wed Sep 26, 2012 2:12 am    Post subject: Reply with quote

If I had half a million dollars I would wonder what happened to the rest of my money. (Goldman Sachs joke)
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Handsome Boy



Joined: 03 Jun 2003

PostPosted: Wed Sep 26, 2012 3:16 am    Post subject: Reply with quote

Buy Gold and Silver Bullion bars.
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Malislamusrex



Joined: 01 Feb 2010

PostPosted: Wed Sep 26, 2012 7:20 am    Post subject: Reply with quote

Buy 4 houses. Take the 30 million won of rental income a year at 0% tax with financial planning and let property value increase. Find a nice university job and keep my tax for 80 million won at around 2.5%.

Last edited by Malislamusrex on Wed Sep 26, 2012 3:21 pm; edited 1 time in total
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PatrickGHBusan



Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -

PostPosted: Wed Sep 26, 2012 10:28 am    Post subject: Reply with quote

buy 4 houses with 500 000 $?

Where in Uganda?
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madoka



Joined: 27 Mar 2008

PostPosted: Wed Sep 26, 2012 10:53 am    Post subject: Reply with quote

PatrickGHBusan wrote:
buy 4 houses with 500 000 $?

Where in Uganda?


Where ever this is, the residents must be both rich and math-challenged to pay $7,000 per month in rent on a $125,000 house. Laughing
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bucheon bum



Joined: 16 Jan 2003
Location: DC area

PostPosted: Wed Sep 26, 2012 1:01 pm    Post subject: Reply with quote

PatrickGHBusan wrote:
buy 4 houses with 500 000 $?

Where in Uganda?


Detroit! Of course getting anyone to rent the 4 houses is another matter...
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Malislamusrex



Joined: 01 Feb 2010

PostPosted: Wed Sep 26, 2012 3:17 pm    Post subject: Reply with quote

That's the deposit.

PatrickGHBusan wrote:
buy 4 houses with 500 000 $?

Where in Uganda?
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PatrickGHBusan



Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -

PostPosted: Wed Sep 26, 2012 3:18 pm    Post subject: Reply with quote

Malislamusrex wrote:
That's the deposit.

PatrickGHBusan wrote:
buy 4 houses with 500 000 $?

Where in Uganda?



500 000 $ deposit on 4 houses?

Unlikely but ok...everyone can dream.
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Malislamusrex



Joined: 01 Feb 2010

PostPosted: Wed Sep 26, 2012 3:21 pm    Post subject: Reply with quote

A year, not every month.

madoka wrote:
PatrickGHBusan wrote:
buy 4 houses with 500 000 $?

Where in Uganda?


Where ever this is, the residents must be both rich and math-challenged to pay $7,000 per month in rent on a $125,000 house. Laughing
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PatrickGHBusan



Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -

PostPosted: Wed Sep 26, 2012 3:22 pm    Post subject: Reply with quote

7000$ a year in rent...thats 583$ per month for a house?

Well....i have no idea where you would do this.

Also it would not be 7000$ per house because you would have to pay for repairs, upkeep, city taxes.

that income is also there only if you manage to have tenants occupy your properties all the time.

you will also pay taxes (in many countries) on the income generated by your revenue generating properties (the rent you collect).
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Malislamusrex



Joined: 01 Feb 2010

PostPosted: Wed Sep 26, 2012 3:26 pm    Post subject: Reply with quote

Well you are more of an expert than I am on my own business. Congratulations.

PatrickGHBusan wrote:
7000$ a year in rent...thats 583$ per month for a house?

Well....i have no idea where you would do this.

Also it would not be 7000$ per house because you would have to pay for repairs, upkeep, city taxes.

that income is also there only if you manage to have tenants occupy your properties all the time.

you will also pay taxes (in many countries) on the income generated by your revenue generating properties (the rent you collect).
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Captain Corea



Joined: 28 Feb 2005
Location: Seoul

PostPosted: Wed Sep 26, 2012 3:48 pm    Post subject: Reply with quote

Malislamusrex wrote:
That's the deposit.

PatrickGHBusan wrote:
buy 4 houses with 500 000 $?

Where in Uganda?


Then you're paying a mortgage. And you're dealing with tenants... AND upkeep.

For those that I know who do this, it very easily becomes a full time job. And it's not for everyone.
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fosterman



Joined: 16 Nov 2011

PostPosted: Wed Sep 26, 2012 6:18 pm    Post subject: Reply with quote

he is probably talking about buying ONE ROOM villas, or offictels
they can be purchased for 80 million or 100 million in certain areas
carrying the mortgage on 5 places, use the key money from each place to pay off the loans, then collect 500-600k a month in rents.

that's 2.5 million a month that's 30k a year.

simple..
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