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edwardcatflap
Joined: 22 Mar 2009
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 Posted: Thu Feb 09, 2012 1:45 am Post subject: |
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While good in theory, the practice seems unrealistic. I know I wouldn't want to buy property without looking at it first, and a trip to the US would cut a good chunk out of his savings.
On top of that, being a landlord in another country would be a pain in the ass. He'd need to get a building manager, and that alone might sap any profits he'd be making.
Also, 10g's isn't enough for a down payment on anything but a condo.
I'm also interested in where the op made 5%, since that's a pretty good return. |
I agree it might not work out in practice but not for the same reasons. You can go through a letting agency who take around 10% of your rent but even after this you'd be making about 5% on your outlay if you bought the property outright, which is what you think is a good return. I'd say it would be pretty risky to let out two properties you hadn't paid for though. You'll always get problems with the tenants not paying on time or periods when the house was empty and if this happened to both houses at the same time, you'd have to fork out for both mortgages from your own pocket. Plus you'd have to factor in insurance, repairs, solicitor's fee, survey etc.. when you buy a place and as you say, trip back home. It could still be a good investment however, especially if property prices go up. |
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fosterman
Joined: 16 Nov 2011
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| Posted: Thu Feb 09, 2012 2:49 am Post subject: |
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well, there are ways,
1: buy a property near your mum, dad or brother or sisters house.
that way they can look after it, and also screen new tenants which you can help look for from here, craigslist or putting adds in local papers back home or use a letting agency to fill the house.
now of course going home to finalize the property is important, banks etc
but going home is usually something Expats do every so few years anyway
so do all the DD here first and schedule your time to go home and tie up all the loose ends.
possible.. |
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Kimchifart
Joined: 15 Sep 2010
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| Posted: Thu Feb 09, 2012 2:53 am Post subject: |
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| borg wrote: |
Property. Especially in the area of Gyeongi-do South of Seoul.
Future plans for Seoul is to make it a megaropolis. It will stretch from Ilsan in the North to Anyang in the South. Everything in between will be urban. You can look at a map and see them filling in the blank spaces daily. Whoever owns the empty land between Seoul proper and Anyang is going to be a very very rich man in a decade or so. |
I can only conclude property here is a bubble judging by the poor quality construction and endless new building projects that remain empty. I really wouldn't have full confidence in the brick and mortar, well the concrete sector in this country. Like what you did with the r by the way. |
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atwood
Joined: 26 Dec 2009
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| Posted: Thu Feb 09, 2012 3:57 am Post subject: |
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short hanwha
If you want to buy Korean stocks, I'd go cosmetics, department stores, and insurance. |
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Dog Soldier
Joined: 29 Sep 2010
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| Posted: Thu Feb 09, 2012 5:40 am Post subject: |
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I too am looking to invest. Got 30 million available. Could put it in a term deposit again. But I feel like I could get more bang for my buck, so to speak.
Hmmm |
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Joe Boxer
Joined: 25 Dec 2007
Location: Bundang, South Korea
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| Posted: Thu Feb 09, 2012 6:05 am Post subject: |
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Haha, that's awesome!
Did you see this part? It sounded like a Chuck Norris "fact"  :
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| Developers cut their power and water, and excavated a 10-meter deep pit around their home... Yang Wu, a local martial arts champion, used nunchakus to make a staircase to their house, and threatened to beat any authorities who attempted to evict him. |
http://en.wikipedia.org/wiki/Nail_house |
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motiontodismiss
Joined: 18 Dec 2011
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| Posted: Thu Feb 09, 2012 6:59 pm Post subject: |
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Dividend-paying blue chips FTW.
Stocks like GE, P&G, bigoil. If Spain and Portugal causes a double dip, just buy any stock that has a healthy balance sheet. |
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edwardcatflap
Joined: 22 Mar 2009
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| Posted: Thu Feb 09, 2012 8:38 pm Post subject: |
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madoka wrote:
Don't listen to the naysayers! Use your 10 mill and buy a 1' x 1' piece of land. Then refuse to sell unless they give you one billion! Like this guy, only on a much, much smaller scale:
http://en.wikipedia.org/wiki/File:Chongqing_yangjiaping_2007.jpg
Haha, that's awesome!
Did you see this part? It sounded like a Chuck Norris "fact" :
Quote:
Developers cut their power and water, and excavated a 10-meter deep pit around their home... Yang Wu, a local martial arts champion, used nunchakus to make a staircase to their house, and threatened to beat any authorities who attempted to evict him.
http://en.wikipedia.org/wiki/Nail_house |
Reminds me of this guy in the UK who refused to sell his farm for the motorway to go through. There's nowt as stubborn as a Yorkshireman. 
http://www.users.globalnet.co.uk/~sibarber/images/wildecut.jpg |
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pegasus64128
Joined: 20 Aug 2011
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| Posted: Thu Feb 09, 2012 11:22 pm Post subject: |
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| akcrono wrote: |
| fosterman wrote: |
put down on a deposit on a house back home,
put down 10 grand, get some tenants in the house to pay the mortgage off for you, 20 years from now it's paid off.. repeat the process every few years and your retirement is set..
call your bank! |
While good in theory, the practice seems unrealistic. I know I wouldn't want to buy property without looking at it first, and a trip to the US would cut a good chunk out of his savings.
On top of that, being a landlord in another country would be a pain in the ass. He'd need to get a building manager, and that alone might sap any profits he'd be making.
Also, 10g's isn't enough for a down payment on anything but a condo.
I'm also interested in where the op made 5%, since that's a pretty good return. |
yeah, I think someone forgot to tell him about the sub-prime mortgage crisis. No bank is going to leverage you to have a property portfolio based on debt like that these days. |
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atwood
Joined: 26 Dec 2009
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| Posted: Fri Feb 10, 2012 12:44 am Post subject: |
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| motiontodismiss wrote: |
Dividend-paying blue chips FTW.
Stocks like GE, P&G, bigoil. If Spain and Portugal causes a double dip, just buy any stock that has a healthy balance sheet. |
People have been piling into those stocks for a while now, so they're priced pretty high. And if there's a double-dip, not only does the stock go down but they cut the dividend as well. |
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motiontodismiss
Joined: 18 Dec 2011
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| Posted: Fri Feb 10, 2012 5:20 am Post subject: |
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| atwood wrote: |
| motiontodismiss wrote: |
Dividend-paying blue chips FTW.
Stocks like GE, P&G, bigoil. If Spain and Portugal causes a double dip, just buy any stock that has a healthy balance sheet. |
People have been piling into those stocks for a while now, so they're priced pretty high. And if there's a double-dip, not only does the stock go down but they cut the dividend as well. |
I figured. I should have picked up a whole bunch of shares during the Fire Sale of Doom of September 08-March 09. GE for $8 a share? I would have made a killing. I got into GE late in december 09 but sold because I freaked out every time the price moved like two cents. In hindsight, I should have kept them and bought more
In hindsight though, my spare cash was denominated in dollars in 08, I could have bought some won and that alone would have been a 50% return. And if I bought some Kia Motors shares with that my $5k could have become $100k lol  |
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Zulethe
Joined: 04 Jul 2008
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| Posted: Fri Feb 10, 2012 1:56 pm Post subject: |
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| motiontodismiss wrote: |
| atwood wrote: |
| motiontodismiss wrote: |
Dividend-paying blue chips FTW.
Stocks like GE, P&G, bigoil. If Spain and Portugal causes a double dip, just buy any stock that has a healthy balance sheet. |
People have been piling into those stocks for a while now, so they're priced pretty high. And if there's a double-dip, not only does the stock go down but they cut the dividend as well. |
I figured. I should have picked up a whole bunch of shares during the Fire Sale of Doom of September 08-March 09. GE for $8 a share? I would have made a killing. I got into GE late in december 09 but sold because I freaked out every time the price moved like two cents. In hindsight, I should have kept them and bought more
I have a similar philosophy but timing and guts are crucial. I put all of my money in Delta stocks shortly after 9/11 and doubled my money in a few short months. The friggin idiots who believed that the US government would let the airlines fail...total morons. I just with I had had more than 10 grand to invest.
In hindsight though, my spare cash was denominated in dollars in 08, I could have bought some won and that alone would have been a 50% return. And if I bought some Kia Motors shares with that my $5k could have become $100k lol |
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Zulethe
Joined: 04 Jul 2008
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| Posted: Fri Feb 10, 2012 1:58 pm Post subject: |
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^^^^^
never seen that happen before...sorry for ruining your post...mine's the middle part |
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plato's republic
Joined: 07 Dec 2004
Location: Ancient Greece
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| Posted: Fri Feb 10, 2012 10:22 pm Post subject: |
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| How does one go about buying stocks/shares here in Korea? |
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FDNY
Joined: 27 Sep 2010
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