sonjack2847 Posted August 17, 2017 Posted August 17, 2017 It could take 6 months in one location to see if you wanted to stay or if it really was not for you.Rent until you are sure is my thought. 3 Link to comment Share on other sites More sharing options...
stevewool Posted August 17, 2017 Posted August 17, 2017 4 hours ago, Old55 said: Yes Scott, we are making plans for my retirement. I thought spring of 2020 at age 66 but it could be next spring, who knows. You are writing and thinking just like me now. Link to comment Share on other sites More sharing options...
Lou49 Posted August 17, 2017 Posted August 17, 2017 Invest your hard earned dollars in blue chip dividend paying stocks in your home country and use the cash flow to pay your rent. Never touch the principal. 3 Link to comment Share on other sites More sharing options...
earthdome Posted August 17, 2017 Posted August 17, 2017 I like what the Scotsman is doing. Buy a place and rent it out when you are not there. This is much easier to do now with services like AirBNB. The only limitation is finding someone reliable to manage this while you are gone. 3 Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted August 17, 2017 Author Forum Support Posted August 17, 2017 13 hours ago, Dave Hounddriver said: The best way I can think of is to have an Aussie couple and an American couple buy a condo together and share it 6 months each. That way both parties can spend winters in Philippines I see where this is going...... Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted August 17, 2017 Author Forum Support Posted August 17, 2017 13 hours ago, Snowy79 said: Personally I bought a condo in a location that is one of the busiest for tourists all year around. I paid including all legal fees just over 4m php. My thinking I've got a place to stay thats worth visiting, easy to rent out and easier to re sell. Initially it was going to be my home once my current rental ran out. In the meantime i advertised it for nightly rentals. Im now stuck with the predicament where ive got over 300,000 php worth of rentals in the next 8 months. I then thought I'd live here during the off season and rent it out during the peak season but it turns out there's no off season. Cash is king so I've decided that if there's 4 or 5 days vacancy in a row during the month I'll pay it a visit as a mini holiday. Now with the surplus money I'm going to rent my own piece of paradise without biting into my savings. I've even gone as far as to renting my apartment out and still coming over but I've rented somewhere cheaper and my apartment has paid for my flights and desperate accommodation. In short if you need the money I'd buy a condo in a major tourist area and either block the dates you want to use it and rent it out or just rent it out full time then use the money to live where you want. The way I see it any money you pay in rent is dead money. If you don't mind will you start a topic on renting out a condo? Don't share your personal details just in general. You have my undivided attention although I'm very very reluctant to invest anything I'm unable to walk away from over there. 3 Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted August 17, 2017 Author Forum Support Posted August 17, 2017 10 hours ago, Lou49 said: Invest your hard earned dollars in blue chip dividend paying stocks in your home country and use the cash flow to pay your rent. Never touch the principal. Our situation is ok, with SS and a good legacy company pension our savings will be untouched unless something goes very wrong. However it could be owning an upscale home or condo for rent in Cebu metro could be something to consider. I've always considered owning real estate in Philippines a very high risk proposition. I could be wrong. 2 Link to comment Share on other sites More sharing options...
Lou49 Posted August 17, 2017 Posted August 17, 2017 2 minutes ago, Old55 said: Our situation is ok, with SS and a good legacy company pension our savings will be untouched unless something goes very wrong. However it could be owning an upscale home or condo for rent in Cebu metro could be something to consider. I've always considered owning real estate in Philippines a very high risk proposition. I could be wrong. I think your risk assessment is spot on. 1 Link to comment Share on other sites More sharing options...
stevewool Posted August 17, 2017 Posted August 17, 2017 11 hours ago, Lou49 said: Invest your hard earned dollars in blue chip dividend paying stocks in your home country and use the cash flow to pay your rent. Never touch the principal. What happens if the shares go down, Plus if everyone really has enough to retire for our there needs why risk your money , just asking Link to comment Share on other sites More sharing options...
stevewool Posted August 17, 2017 Posted August 17, 2017 We have our home in the Philippines , yes its the family home but the whole top floor is ours to do a we please, another say £5000 to get it how we are wanting it and then i could live there forever, thats if i am wanting that. The figure of £5000 i could rent a nice place in Spain for 1 year, France too, and i am sure that renting in the Philippines could be cheaper then that too. Seeing the world and staying for as long as we feel is right is something that we are trying to sort out while we can afford to do and fit enough to do, plus if its not what you thought , well move to another place then. Its a small world out there . 1 1 Link to comment Share on other sites More sharing options...
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