Job Discussion Forums

[bulgogiboy]

Hi all,


I was just wondering if any of the British teachers in KSA have invested in properties back in the UK? Has anyone managed to put down deposits on multiple properties and get tenants in them ( rent-paying people, not the scottish lager )? Is this legally possible if you are working outside the UK?

I would think some of the longer-term veterans of KSA would have been able to save enough money to do this?

If you are able to squirrel away 15 GBP a year, then it would technically be feasible to be renting out multiple properties back in the UK, within 3-5 years, right?

[scot47]

A common practice. I think it is distasteful. Landlordism is a great social evil, but I cannot imagine what makes you wonder if it is legal !

Most of the people I know who have gone down this road are singles with no dependants. Remember that you will have all the hassle of renting out the properties and finding suitable tenants. Some people get estate agents to do that.

Personally I have been too busy following the biblical recommendation to "be fruitful : go forth and multiply" to invest my money in property.

[littleoldlady]

Very difficult to get buy-to-let mortgages unless you have at least 50% deposit. It's almost impossible to get even a home mortgage for yourself - as my daughter will testify. She jumped a whole gymkana to borrow 1.5 times her salary and she earns a lot in the city.
How do I know? Well, because I am here and know people who have given up on this whole... questionable .... idea.
Shall I tell you how many people are now facing bankruptcy as a result of their speculation?

[bulgogiboy]

But surely if you were able to live in the Gulf for a number of years and save well(not the 500 SR a month 'Klub' but living off 2000 or so), you would be able to at least buy your own home outright, in cash? I would think this would be even easier for teaching couples who were both managing to save 1000+ pounds a month?

I accept this is theoretical, and after 1-2 yrs(or less) I might crack in KSA and have to leave, but if you can stick quite a few years there you must be able to save up quite an impressive sum, assuming you have the right qualifications and do the research about where a decent job/salary can be found, right?

[littleoldlady]

Depends where you want to live and what happens to house prices. It''s all speculative especially in this market. I would buy a home in the UK now if that's where you want to live, rent it out whilst you are away, save the money to pay it off and be content with that. Biting off more than you can chew will always give you indigestion.....

If you crack, you'll be building castles in the air to live in .

[bulgogiboy]

That might be the less stressful option, I think you have a point there. Form what I've read on this board today it seems that if you worked somewhere like Bae or even another nice gig that paid less, you might be able to pay off a nice flat within 3-5 years or so, if you saved 75% of what you earned.

The whole living in Saudi and saving shedloads is a trade-off I suppose, and probably wouldnt be a hell of a lot of fun, but then for the average person in the UK paying off a mortgage and its exorbitant interest for 25 years isnt much fun either. It's tempting....

[scot47]

Shouldn't you actually get a job in KSA before you start building those suburban castles in the air ? As you will see from reading these threads, getting a good job with a decent employer is not such an easy matter.

"Catch the fish before you fry it," as they say in my adopted homeland. Or if you prefer a saying from the other side of the German Ocean,"Man soll den Speck erst loben, wenn man den Schwein geschlachtet hat."

[johnslat]

Dear scot47.

"Don't praise the bacon until the pig has been killed." right?

or, to use an adage that employs an animal that isn't haraam:

Don't count your chickens before they're hatched.

Regards,
John

[bulgogiboy]

Hehe, yes I agree with both of you. Although i'm not really 'counting' my chickens, just making an 'appraisal' of how many potential chickens could be within my grasp

And I love that Obama avatar, every time I read your posts I hear you saying them in Big Barack's avuncular, modestly intellectual manner.

John, can I ask if you have a master's in TESOL? Or Just a diploma/certificate?

[Sheikh N Bake]

Scot, why is renting out a property you own immoral? I owned two houses I rented out...could have been more if circumstances had been slightly different.

In some cases--probably my own--I might prefer to rent an apartment in certain cheap rural locations rather than outlay a lot of cash for a house when it's retirement time. To do that, I would need a landlord! You would say it's better there are no landlords, only owners, so I would not have the option? Uh-oh...hhhmmm.. maybe North Korea might work for ya!

[scot47]

I did not say "immoral". I said "distasteful".

[Stephen Jones]

[Sheikh N Bake]

Well, Scot, you said it's a great social evil. It can be in certain pockets, yes, but..I think my scenario speaks for itself.

[johnslat]

Dear bulgogiboy,

Way back in 1978 (when I first got into EFL,) there weren't too many TESOL Masters Programs around.
What I have (and have had all these years) is a BA in English and an MA in English Education.

These days, that would put me at a disadvantage, competing against TESOL/Applied Linguistics MA holders, but not over thirty-two years ago.
And having the degrees I do was an advantage when it came to finding full-time teaching jobs in the States. I've been licensed in three states: Florida, Colorado, and New Mexico, and I've taught (full-time) everything from Head Start (3-5 year olds) to senior high.

Nowadays, I'm teaching ESL at Santa Fe Community College.
Regards,
John

[scot47]

Is the Atcheson, Topeka and Santa Fe still in business ?