I am thinking of buying some landing building a place and renting to Japanese or Koreans.
but would never sell my place in England just in case somethign went wrong.
I am thinking of buying some landing building a place and renting to Japanese or Koreans.
but would never sell my place in England just in case somethign went wrong.
Knowing what I know now, I would never sell my house to fund a venture in The Phil. I nearly did before, if I had of done, I would of lost everything. No one knows of what the future holds for us. At least with your house you have security, not only for you, for your wife as well. You can learn alot from what others do over there. The Koreans and the Jap's aren't stupid, watch and learn, as they say.
Originally Posted by gWaPito
Actually,I disagree...In part.
I sold my house in 2007 as I believed and still do that UK house prices are hyped and over priced.. I may be proved wrong but it was strictly a business decision as I was moving over here regardless!!
The cash from the sale still remains in the bank earning interest(TAX FREE) and remains separate from my business and personal interests here..
If my gamble comes off and UK house prices drop,then I will be in the position to buy something in the UK at better value sometime in the future..
Renting out property in the UK is fine just as long as you take taxes on rentals and exchange rates into consideration.
If I had rented my old property in the south east out with the exchange rate as it is for only income,I would have been forced to return 2 years ago.. Other peoples milage may prove different..
Cheers,
Fred.
Like you said Fred, you didnt sell your house to fund a venture in The Phil, the money is still earning interest in some account. I still think bricks and mortar in the UK is the safest place over the long term. We have been here before over the decades, the market always seem to recover. Just my opinion
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