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-   -   Life, career, and financial advice for a late-20s guy? (https://www.revscene.net/forums/636041-life-career-financial-advice-late-20s-guy.html)

Tapioca 03-01-2011 10:41 PM

Quote:

Originally Posted by LiquidTurbo (Post 7325096)
Sounds like a very safe option. Ever consider travelling the world?

If you want something risky and blazze, why not travel the world.

I've given that option more than a passing thought. It kind of comes down to this:

A mortgage.

If I were to leave, I'm not sure if I could rent out my condo and have neutral cash flow. Even if I could, I would probably have to rent it out to dubious tenants and it would be pretty much guaranteed that if I were to come back, my apartment would be in far worse condition than I left it. Hiring a property manager would pretty much put me in a negative cash flow situation.

I could sell it right now, I suppose, and maybe make a net profit of 50K-70K (after realtor fees, taxes, etc.). I leave the country for 2 years and let's say the market corrects 20-30% (worse case scenario). There's still no way that I could afford to buy an equivalent residence with that correction. Renting a 1-bedroom in my neighbourhood costs anywhere from 1000-1200/month. Once you get used to granite countertops and floor-to-ceiling windows, it's hard to go back.

Quote:

See the world and don't get married.
Marriage scares me because my property would not be protected in the event of a divorce (from my understanding of marriage laws.)

If my health keeps up, my plan is to see the world gradually over the next 10-20 years.


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