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  1. #151
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    Quote Originally Posted by slimboyfat View Post
    The north east is still pretty much a mystery to me though (I am from the south west) so I would struggle to know the right places etc. Probably using a property sourcing company would be the answer - if I could find one that was trustworthy!

    The rental yields do sound good though. I'm just about getting a 5% yield on the terraced house I bought in Plymouth - and that cost GBP 170k - ofcourse bought with a buy to let (expat) mortgage.
    I would just contact local estate agents. The last people that viewed my property were investors organised through my agent , an English couple living in France. They came over to view several in the area but had also never been to Sunderland.

    I also had a hand written letter through this week. It was from another "investor" based in Sheffield. They were offering 41k for mine (without viewing) which is currently on at offers over 55k originally dropped from 70k. Just shows what crazy prices even the decent terraces are going for. Honestly can't see the prices going any lower, Brexit or no Brexit!

    We've now decided to stay put for a while. I've started overpaying my mortgage, not by a considerable amount. But I wish I'd started sooner. If I can maintain my current overpayment my mortgage term will drop from the existing 23 years to 11 years and will save me 21k on interest. It's nuts! Theoretically I could be mortgage free in 10 years before I'm 50. I guess we could possibly then get another mortgage & buy a second house before I retire which would then leave us with 2x homes in the UK to rent out and supplement a possible retirement in Thailand in the future. Thats my (very) rough retirement plan anyway

  2. #152
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    Quote Originally Posted by toddmeister View Post
    I would just contact local estate agents. The last people that viewed my property were investors organised through my agent , an English couple living in France. They came over to view several in the area but had also never been to Sunderland.

    I also had a hand written letter through this week. It was from another "investor" based in Sheffield. They were offering 41k for mine (without viewing) which is currently on at offers over 55k originally dropped from 70k. Just shows what crazy prices even the decent terraces are going for. Honestly can't see the prices going any lower, Brexit or no Brexit!

    We've now decided to stay put for a while. I've started overpaying my mortgage, not by a considerable amount. But I wish I'd started sooner. If I can maintain my current overpayment my mortgage term will drop from the existing 23 years to 11 years and will save me 21k on interest. It's nuts! Theoretically I could be mortgage free in 10 years before I'm 50. I guess we could possibly then get another mortgage & buy a second house before I retire which would then leave us with 2x homes in the UK to rent out and supplement a possible retirement in Thailand in the future. Thats my (very) rough retirement plan anyway
    I'm not a complete stranger to Sunderland. The marine services company I used to work for had an office there and I spent almost a month there on induction training in 2010-ish. They put me up in a flat in a block near the Winter Gardens and opposite a Wetherspoons. Imagine the joy of living opposite a Wetherspoons when I was used to 10+ quid a pint here in Singapore. I may even have sung a karaoke song in Sinatras on one or two evenings. Happy days.

  3. #153
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    Good god I hope your view of Sunderland wasn't entirely based on those two establishments!!

  4. #154
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    After monthly mortgage payments, landlord insurance and letting agent fees I am making GBP 100 a month on the terraced house that I bought in Plymouth last year and am now renting out.

    Would need quite a lot of houses for a passive income!

    Oh well, at least the mortgage payments are covered by the rent.

  5. #155
    'ello 'ello 'ello Luigi's Avatar
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    ^ How long til paid off?

  6. #156
    Thailand Expat AntRobertson's Avatar
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    Similar to me but don’t forget the equity you’re building and potential capital gains as well.

    Not quite income granted but it could be in the future.

  7. #157
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    Quote Originally Posted by Luigi View Post
    ^ How long til paid off?
    20 years - it was only ever a plan for my old age!

  8. #158
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    SBF you must be younger than I'd thought.

    Overpaying, is that an option as that can save a lot of interest payments and reduce your mortgage substantially over that time frame, even what you'd imagine are relatively small amounts can make a big difference over time.

    The house in the UK also, God forbid, does give you a fallback position if things don't go to plan

  9. #159
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    Quote Originally Posted by slimboyfat View Post
    20 years - it was only ever a plan for my old age!
    Buy 4 or 5 of them,

    but with Brexit, don't expect prices going up over 20 years

  10. #160
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    Quote Originally Posted by slimboyfat View Post
    After monthly mortgage payments, landlord insurance and letting agent fees I am making GBP 100 a month on the terraced house that I bought in Plymouth last year and am now renting out.

    Would need quite a lot of houses for a passive income!

    Oh well, at least the mortgage payments are covered by the rent.
    I presume you're also aware of tax changes regarding income from buy to let properties. Also the phasing out of mortgage tax relief.

  11. #161
    hangin' around cyrille's Avatar
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    Quote Originally Posted by buriramboy View Post
    I presume you're also aware of tax changes regarding income from buy to let properties.
    Well since he bought the place last year and is already renting it out it's pretty certain he'll be aware of that.

    Do you ever read the post you're responding to properly?

  12. #162
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    Quote Originally Posted by cyrille View Post


    Well since he bought the place last year and is already renting it out it's pretty certain he'll be aware of that.

    Do you ever read the post you're responding to properly?
    Here we go again simple Sybil jumping in with nothing to add other than his usual boring drivel. Well seeing as some of the changes were only announced after he bought and will only be taking effect in April you retarded mong maybe you should read the post and educate yourself. Potless TEFLer.

  13. #163
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    Quote Originally Posted by bowie View Post
    This thread concerning “passive earnings” has morphed considerably – I’ll continue the morphing and yet attempt to bring it back to the OP’s original questioning.

    Cost-of-Living, Cost-of-Relocating, and basically, anything concerning money varies considerably from person-to-person, location-to-location and situation-to-situation.

    Depending upon you and your significant other(s) desires, druthers, have already(s), must haves, and, would like to haves, numbers change and change significantly.

    I can, and will, only speak for myself and my wife. The numbers are rounded but pretty much on-the-mark and correct. USA male 62yo, Thai wife 57yo, Thailand @ 3 years mid-90’s, company went bust, relocated to the USA, 20 years living and working in the USA, company went bust. Sold all, consolidated nest egg, moved to Thailand for our retirement aka “Golden Years”.

    As per earlier post – socked 15% into a tax-deferred 401k retirement plan. Worked my entire life paying into the USA Social Security plan, engineer by trade so I’ve contributed significant funds. Basically, when I start claiming in a few years I will receive a reasonable monthly benefit, as thing stand now, I’ll receive more than enough to live comfortably in Thailand and not have to worry about pinching pennies or cutting coupons. If I stayed in the USA (northeast coast) I could live “OK” but, I’d be watching pennies, clipping coupons, and well, scrimping and buying everything based on price and on the cheap.

    We, wife and I did a three-month anniversary celebration and retirement planning sojourn to Thailand early '17, investigating legal requirements. Cost of Sojourn was USD @ $20k.

    The move mid '17; temporary lodging(s), household goods packing, shipping and storage, miscellaneous costs including legal consultations, etc. was USD @ $30k.

    Past couple of years ’17 & ’18 we’ve been spending USD @ $40k/annum

    For the most part the selling and buying of our housing was close to a fair trade.
    Generalization; we traded a 60 year old house in the USA for a new house in Nonthaburi.


    So, for the OP, at 45 years old you are in/at your “peak” earning years. The key to everything is “savings” – start today, investing 15-20% of your earnings. Invest conservatively into a well-diversified portfolio. Set it up with a professional investment firm (due diligence required in selecting the firm). Then, pretty much “ignore it”. It will grow.

    Of all options available – savings and investing is the proven method of achieving the goal of a secure retirement.

    Running a business, be it a store, a service company, or real estate rentals, is costly, time consuming and financially perilous. Not to take away from the successful businessmen among us (I’m not one of them) but, far more failures and nest egg losses than success stories. I know of several failures and only one success story – and the success spoiled a friend and turned him into a rich, miserable bastard whose only concern was people stealing from his fortune and/or off-his-plate.

    Anyway, our USA Social Security payments should be slightly above average. USA social security is based on your highest thirty-five years of contributions. Me as an engineer will exceed the average payment, my wife with only 20 years of contributing will receive considerably less than average, but, she can claim as my spouse. 2019 average USA Social Security will be about $1.4k/mo X 2, we should receive about $3k/mo ($36k/annum). It will work for us.

    It will work for you, but, you have to start now. The longer you wait, the longer you will have to wait before you retire. And, unfortunately for most of us. Few get to choose their retirement date, medical problems or un-employability typically determine when you will be forced into the ranks of the retired.

    Good luck.

    One thing we Americans forget is that if Social Security is your only means of income, there are no taxes due. That's right, your Social Security payments are tax free. Another little known fact is that if you have a depenant under the age of 18, you will receive another 50% of your maximum. This does not mean go out and have a child, but I began drawing my Social Security at the age of 64.5 and had a son who was 2.5 years at the time. I did not find out about this additional sum until he was 5 years old. I then applied and now collect 150% of my max which puts me at about $3,300.00US per month. It is my only income and we live quite well here in Thailand. My son is now 8 years old and I will receive this 150% payout for another 10 years, or until I am dust whichever comes first, so there are other ways to have a decent income here other than retirement plans and business ideas.

  14. #164
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    Quote Originally Posted by buriramboy View Post
    I presume you're also aware of tax changes regarding income from buy to let properties. Also the phasing out of mortgage tax relief.
    Yes it's a concern if you have a number of properties and another income in UK (from employment etc).
    I am not resident in UK, my main income is from my employment in Singapore which has a double taxation treaty with UK - so my only UK income is the rent on this one property - which is below the Personal Allowance.

  15. #165
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    Quote Originally Posted by Dragonfly View Post
    Buy 4 or 5 of them,

    but with Brexit, don't expect prices going up over 20 years
    I got divorced from a Singaporean. I don't have much cash left, and I am still paying a big wedge of my salary every month to her too!

  16. #166
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    Quote Originally Posted by NamPikToot View Post
    SBF you must be younger than I'd thought.

    Overpaying, is that an option as that can save a lot of interest payments and reduce your mortgage substantially over that time frame, even what you'd imagine are relatively small amounts can make a big difference over time.

    The house in the UK also, God forbid, does give you a fallback position if things don't go to plan
    I was 46 last week.
    Yes, if and when I get the chance I will be overpaying on the mortgage!

  17. #167
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    Quote Originally Posted by slimboyfat View Post
    I got divorced from a Singaporean. I don't have much cash left, and I am still paying a big wedge of my salary every month to her too!
    jesus, that must have been expensive

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