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Buy a house OR expat to a foreign country?

Discussion in 'BlackHat Lounge' started by MikeHustle, Jan 18, 2010.

  1. MikeHustle

    MikeHustle Power Member

    Mar 1, 2009
    Likes Received:
    Buy a house OR expatriate to a foreign country and live like a king?

    I've been looking at buying a house in my city, and I can't help but ti feel trapped. I'm a single man, 30, I do BH full-time, and there's no reason for me to really by a house when it's only me.... But prices are sooo cheap, and it's the grown up thing to do.

    Back in my poker days, me and some buddies were thinking about living in Thailand for a few months, where it's cheap to live, and where we could get a lot of partying in.

    I'm well past looking for a good party, but I desperately need a change of venue. Everyone I know works all day, has kids, and consequently has NO time for fun.

    My options>?

    Buy a house, wait for a wife and kids OR Expat to a foreign country and live like a king???
    Last edited: Jan 18, 2010
  2. judson

    judson Power Member

    Nov 29, 2009
    Likes Received:
    Fulltime Newbie IM
    Sub Ubi
    It depends what your city is.

    ++On buying a house. Especially if you can fully pay off fully. Become a landlord. Keep that as your "insurance" or get out of jail ticket. Instead of worrying about landlord issues, find an estate agent that does property management. They deal with the tenants, collect the rent etc. Bonus points if you have the house 'owned' by an offshore company, with rents paid offshore. That will be your nest egg when shit hits the fan, and invariably, it does.

    If you want to buy abroad, look in places that are still cheap, are friendly to foreign ownership, and have strong property rights. Eastern Europe is still affordable. Bonus points if you can find a place in a city on the coast that will appeal to the holiday rental market when you don't need the place. Think of is as a cheap DIY timeshare. Oh yeah, get someone else to deal with all the rentals etc for a fee.