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Old 03-01-2011, 10:41 PM   #26
RS has made me the bitter person i am today!
 
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Quote:
Originally Posted by LiquidTurbo View Post
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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Last edited by Tapioca; 03-01-2011 at 10:49 PM.
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