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| Solely from the proceeds of TEFL/TESOL I .... |
| own multiple properties outright |
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7% |
[ 2 ] |
| own one or two properties outright |
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46% |
[ 12 ] |
| am paying mortgages on multiple properties |
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0% |
[ 0 ] |
| am paying a mortgage on one or two properties |
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7% |
[ 2 ] |
| a mixture of the above |
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0% |
[ 0 ] |
| am saving to put down a deposit on a property or buy one outright |
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19% |
[ 5 ] |
| think I will never be able to buy a property on a TEFL salary |
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19% |
[ 5 ] |
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| Total Votes : 26 |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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 Posted: Tue Aug 11, 2015 4:08 am Post subject: |
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| Quote: |
| Solely from the proceeds of TEFL/TESOL I |
That's the first line.
Bought my house with TEFL proceeds and as explained the rest grew from that. It all CAME from TEFL earnings, I just managed it from there.
But ok..cheers and enjoy.
PS you sure have not changed lol |
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edwardcatflap
Joined: 22 Mar 2009
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| Posted: Tue Aug 11, 2015 5:31 am Post subject: |
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| Quote: |
PS you sure have not changed lol |
You neither. Still seemingly unable to understand the most basic of concepts. |
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IBD
Joined: 23 Oct 2014
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| Posted: Thu Aug 13, 2015 1:28 pm Post subject: |
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From the proceeds of TEFL I didn't buy any property. I used my savings to pay down student loans and pay for graduate school.
At the time I thought about putting the 60k I saved over 3 years into a property but I didn't pull the trigger because:
A) I wanted to buy in an urban area. My savings weren't nearly enough unless I bought a dump that would require work or went the condo route which has has a whole other set of issues.
B) I just don't trust TEFL. There is nothing available that is permanent or that pays enough other than jobs in the ME. Even then you're at the whim of your employer in a foreign country on year to year contracts. Yes there's always going to be someone that will pay a white face to teach English conversation but the last thing I wanted was to be suddenly out of a job having to pick up repair bills and increasing condo fees/property taxes that the rent doesn't cover. Owning can be very expensive.
C) Taxes: If you own property in Canada then you will be taxed on your global income. If you declare as a non resident to keep the tax man away from your precious Won when you try to bring it home, you may get caught if audited. It's also fraud.
D) Even if I did buy, I sure as hell wasn't going to buy in Korea, especially some poorly made officetel that will crash in price once the housing bubble there pops. You'd have to be married to a Korean woman to navigate all the ins and outs of owning there in my honest opinion.
I don't think it's impossible to buy good propert with potential back home on a TEFL salary. I just wouldn't be relying on TEFL for upkeep/making payments. Maybe in the 90s but these days? I'm just too risk averse. |
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tophatcat
Joined: 09 Aug 2006
Location: under the hat
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| Posted: Fri Aug 14, 2015 5:32 am Post subject: |
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| Over half of the people who have responded own properties from TEFL/TESOL earnings. That's plausible. |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Fri Aug 14, 2015 7:34 am Post subject: |
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| edwardcatflap wrote: |
| Quote: |
PS you sure have not changed lol |
You neither. Still seemingly unable to understand the most basic of concepts. |
Yes basic concept: bought property through TEFL earnings.
I bought properties through TEFL earnings.
cheers |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Fri Aug 14, 2015 7:36 am Post subject: |
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| IBD wrote: |
From the proceeds of TEFL I didn't buy any property. I used my savings to pay down student loans and pay for graduate school.
At the time I thought about putting the 60k I saved over 3 years into a property but I didn't pull the trigger because:
A) I wanted to buy in an urban area. My savings weren't nearly enough unless I bought a dump that would require work or went the condo route which has has a whole other set of issues.
B) I just don't trust TEFL. There is nothing available that is permanent or that pays enough other than jobs in the ME. Even then you're at the whim of your employer in a foreign country on year to year contracts. Yes there's always going to be someone that will pay a white face to teach English conversation but the last thing I wanted was to be suddenly out of a job having to pick up repair bills and increasing condo fees/property taxes that the rent doesn't cover. Owning can be very expensive.
C) Taxes: If you own property in Canada then you will be taxed on your global income. If you declare as a non resident to keep the tax man away from your precious Won when you try to bring it home, you may get caught if audited. It's also fraud.
D) Even if I did buy, I sure as hell wasn't going to buy in Korea, especially some poorly made officetel that will crash in price once the housing bubble there pops. You'd have to be married to a Korean woman to navigate all the ins and outs of owning there in my honest opinion.
I don't think it's impossible to buy good propert with potential back home on a TEFL salary. I just wouldn't be relying on TEFL for upkeep/making payments. Maybe in the 90s but these days? I'm just too risk averse. |
Many valid points there.
Buy properties based on TEFL income but buy the right property: one that you can rent out and that thus pays for itself if you intend on remaining abroad. |
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chellovek
Joined: 29 Feb 2008
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| Posted: Sat Aug 15, 2015 7:56 am Post subject: |
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| tophatcat wrote: |
| Over half of the people who have responded own properties from TEFL/TESOL earnings. That's plausible. |
TEFL teachers are high-rolling big-wigs, as is not commonly known. Not the socially awkward losers of legend. |
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World Traveler
Joined: 29 May 2009
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| Posted: Sat Aug 15, 2015 3:20 pm Post subject: |
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| Just something to note is saving big money (and then using the savings to buy properties) with English teaching earnings was much easier a decade ago compared to now. And most Dave's posters in this thread are older. So can a newb replicate their success starting in 2015? Maybe. Maybe not. Perhaps the distinction between "was it possible to..." and "is it possible to..." should be made. Earnings potential for ESLers has been on the decline for a while now. |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Mon Aug 17, 2015 8:08 am Post subject: |
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| World Traveler wrote: |
| Just something to note is saving big money (and then using the savings to buy properties) with English teaching earnings was much easier a decade ago compared to now. And most Dave's posters in this thread are older. So can a newb replicate their success starting in 2015? Maybe. Maybe not. Perhaps the distinction between "was it possible to..." and "is it possible to..." should be made. Earnings potential for ESLers has been on the decline for a while now. |
No doubt about it. It is likely harder to save and buy a property based on TEFL income today that it was a decade ago. It can certainly still be done if the person plans it right, buys the right property and manages his life style properly in terms of spending. You always have to sacrifice somewhere to gain somewhere else.
As an ESLer you need to maximise the fact you pay no rent in Korea for example. You also need to avoid $$$ draining things like a car if you can. The savings from that can be used to work towards a downpayment on a property at some point. It is harder now as the saving % of your total income has decreased... |
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fromtheuk
Joined: 31 Mar 2007
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| Posted: Mon Aug 17, 2015 9:37 am Post subject: |
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This year, I bought my first house ever, in Rochester, New York, mostly from cash earned through TEFL.
Ladies and Gentleman please rise for our national anthem 'Da-dadadadada-dadadadadada......
We're all Americans now.  |
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