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Dave Chance
Joined: 30 May 2011
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Posted: Wed Sep 26, 2012 1:05 am Post subject: |
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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
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Posted: Wed Sep 26, 2012 1:11 am Post subject: |
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either, buy a house, or open a business. |
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radcon
Joined: 23 May 2011
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Posted: Wed Sep 26, 2012 2:12 am Post subject: |
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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
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Posted: Wed Sep 26, 2012 3:16 am Post subject: |
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Buy Gold and Silver Bullion bars. |
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Malislamusrex
Joined: 01 Feb 2010
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Posted: Wed Sep 26, 2012 7:20 am Post subject: |
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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 -
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Posted: Wed Sep 26, 2012 10:28 am Post subject: |
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buy 4 houses with 500 000 $?
Where in Uganda? |
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madoka
Joined: 27 Mar 2008
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Posted: Wed Sep 26, 2012 10:53 am Post subject: |
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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. |
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bucheon bum
Joined: 16 Jan 2003
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Posted: Wed Sep 26, 2012 1:01 pm Post subject: |
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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
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Posted: Wed Sep 26, 2012 3:17 pm Post subject: |
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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 -
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Posted: Wed Sep 26, 2012 3:18 pm Post subject: |
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Malislamusrex wrote: |
That's the deposit.
PatrickGHBusan wrote: |
buy 4 houses with 500 000 $?
Where in Uganda? |
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500 000 $ deposit on 4 houses?
Unlikely but ok...everyone can dream. |
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Malislamusrex
Joined: 01 Feb 2010
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Posted: Wed Sep 26, 2012 3:21 pm Post subject: |
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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 $125,000 house. |
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PatrickGHBusan
Joined: 24 Jun 2008 Location: Busan (1997-2008) Canada 2008 -
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Posted: Wed Sep 26, 2012 3:22 pm Post subject: |
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7000$ 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
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Posted: Wed Sep 26, 2012 3:26 pm Post subject: |
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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
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Posted: Wed Sep 26, 2012 3:48 pm Post subject: |
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Malislamusrex wrote: |
That's the deposit.
PatrickGHBusan wrote: |
buy 4 houses with 500 000 $?
Where in Uganda? |
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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
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Posted: Wed Sep 26, 2012 6:18 pm Post subject: |
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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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