Korean Job Discussion Forums

[wiganer]

It is a good idea but I would advise buying property in Argentina. Buy a flat in the capital of Buenos Aires and rent it out to foreigners who cannot rent places due to the ridiculous guarantor laws. You can rent to foreigners by the week or more long term - it is safe, a nice city and lots of people go there for holiday and business. Check it out.

http://www.argenprop.com/Propiedades/Buscar?sp.PageSize=10&ViewNameResult=VistaGrilla&totalCount=162966&totalPages=16297&precio_desde=30000&precio_hasta=40000&sp.Moneda=2&sp.PrecioInferior=30000&sp.PrecioSuperior=40000

For 30,000 - you should be able to buy a nice 2 bedroom flat in a place like Mar del Plata - right by the seaside.

[fromtheuk]

Thank you everybody. Or, I may just wait until I have around 50-60k and invest in a half-decent property in a good area.

[Who's Your Daddy?]

You have to pay property taxes.

[Illysook]

My dad bought his first rental property when I was in the 6th grade and built a modestly profitable business. However, he did all the repairs himself and I grew up cleaning, painting, and getting sick almost every time I saw a cockroach...and there were plenty of cockroaches.

Eventually, I had to show apartments and find tenants as well. That really sucked because after working my behind off to get these places ready to show and hating every minute of it, people would come through and tell me that the place was just disgusting because I'd missed some dust on a windowsill or hadn't had time to cut the grass outside, or some other petty thing.

At this point, I own a home in Columbus, Ohio and it is rented to a family that treats it as if it were their own. They would like to buy it. I just might sell it. I wouldn't make any profit in this market though, so I'm waiting until I have a better idea of what I want to do in the next 25 years.

[zappadelta]

[youtuber]

You aren't American. As such, there will be tax implications. Have you considered that? Property tax, municipal taxes, ect ect. You will also probably be taxed in the UK for that American property. Double taxation. Awesome.

And do you think a Management company has your best interests at heart? How will you verify that your property hasn't turned into a total craphole?

Sounds like a terrible idea. They are demolishing brand new houses in Detroit for Christ sake. I wouldn't bet on any investment in Detroit.

[AsiaESLbound]

Why not move there, get a duplex or something, live in one unit, rent the others out; all while you work any job you can get just to minimally get you by until you get to where you want to be? If you win out, you can get a few more rental places and collect rents without having to work a job. The headache is maintenance like replacing water heaters, complaining tenents, legal matters, and non paying tenants with kids where it takes a while to evict them. My dream is to have my own place out right owned, be debt free and not be on a treadmill when it comes to my schedule and finances. I only need about $199,000 more to smoothly put me where I should be.

[Captain Corea]

Would there not be immigration issues?

[fromtheuk]

I have no plans to move to the US, it'd be purely a financial investment.

As long as the money is coming in and there isn't any evidence of a problem, I'd be content. Management companies are a business, so to an extent they have to do a good job to stay in business.

Whether they truly love me and care about my best interests isn't relevant.

I work/live abroad, I don't think I'll be telling anybody about the purchase of property abroad.

I like the duplex idea.

The dilemma is should I wait and get a decent property in a decent area which costs alot, or should I get multiple cheap properties for just rental income. I'm leaning towards a bit of both.

[northway]

[fromtheuk]

Thank you for the advice. I may just stick to buying one expensive property, maybe even in England. I'm thinking of Florida and Arizona too.

Some of the cheap properties in Michigan allege alot of demand for tenants, I'd hate to be in a position where there is no rental income and for the property to become a burden.

I'll probably get an expensive property then.

[northway]

[fromtheuk]

Thanks. I still think long-term, property in Florida or Arizona are sound investments. It may take time, but I'm sure they'll be worth alot. Whether they'll rise again to their value during the housing bubble is debatable, but their value should steadily increase.

[J Rock]

Take it from a person who ls from Detroit (actually just outside 12 and woodward, Detroit starts at 8 mile) You don't wanna live down there. Where my parents live there is hardly any crime, people are polite, and you never feel like your in danger. But if think your tough and travel just a few miles down the road you'll get into trouble real fast. People will hoot and holler at you, taunt you and in general scare the crap out of you.

Yeah you can get a really big house for $30,000 but you would have to put up a giant spiked fence around it and have a couple mean looking dogs.

If you could scrape up a few more dollars you could move into one of the surrounding suburbs that is a little safer, ie. Oak Park, Hazel Park, Madison Heights.

If your serious about moving to Michigan PM me and I'll give you some decent advice about where to stay.

[fromtheuk]

Thank you. I'm only looking for financial investments, not to move to Michigan. I think I'll settle for Florida or Arizona.

I'll bear those better areas of Detroit in mind.