How to live the dream and move abroad - Printable Version
+- Roosh V Forum (https://rooshvforum.network)
+-- Forum: Main (https://rooshvforum.network/forum-1.html)
+--- Forum: Travel (https://rooshvforum.network/forum-3.html)
+--- Thread: How to live the dream and move abroad (/thread-57204.html)
+- Roosh V Forum (https://rooshvforum.network)
+-- Forum: Main (https://rooshvforum.network/forum-1.html)
+--- Forum: Travel (https://rooshvforum.network/forum-3.html)
+--- Thread: How to live the dream and move abroad (/thread-57204.html)
How to live the dream and move abroad - Schlep - 07-22-2016
I was going to wait until after I made my move to write this tread but, wanted to give back to a community that has meant alot to me and helped me along my journey of becoming a better man and helping me see the light.
I will be leaving to start my new life in Oct.- Nov.
First, a little about myself:
Early fourties American with no college education. Spent the last twenty years working in a chocolate factory. Definitely can not complain. Great pay, 401k, pension, really good benefits and awesome work schedule. 7 days on and 7 days off.
After going through a horrible divorce and hitting rock bottom I discovered this forum and haven't looked back since. Took my first trip abroad last Nov to the Philippines and had the time of my life. I remember sitting in I.T park in Cebu with another forum member talking about life and our dreams. Thats when I realized what I truly wanted in life. Freedom, traveling the world and having harems of attractive woman. Learning new cultures and meeting new people.
But how????
I went through every possible method I could think of.
English teacher in Cambodia? Na..I hate kids
Becoming location independent? Interesting...maybe
Knocking on Roosh's door and giving him a sob story and crashing on his couch. If I'm lucky getting to bang all his leftovers. Haha..
Working in a call center in Cebu for 18k (php) a month and living off my savings. Na..I'd just get fired for banging all the girls and never answering the phone.
So, after awhile I started to get discouraged and to much negativity started weighing on me. Took another vacation to the Philippines and while laying on the beach I realized I needed to change my thinking and redirect my thought process. No more negativity. Concentrate on the positive things I have going for me.
No dept
30k in savings
A fire inside me for a better life
One day while reading the paper, I happened to look at apartment buildings for sale in a smaller city near me. Dirt cheap. The follow day I sent out to investigate. Realized they were in the worst part of the city. Called the owner and chatted with him and viewed the apartment for sale. What a shit hole. But, he informed me that he was renting it out for 825$ monthly. After chatting with neighbors in the area they confirmed what he had said about the price of rent.
Okay, I was interested. But, realized that this was going to be a huge gamble. Spent several days contemplating this idea and knew that the only way I was going to achieve my dream was to take chances.
Fuck it, here we go:
Unit #1
Holes in the walls, place stank of cat piss, needed new carpet, bathroom sink leaked badly. Needed new refrigerator. spent two weeks patching walls, primering and painting. Visited nearby carpet supplier and purchased the cheapest carpet I could find.
Lessons I learned while renovating:
If you have a plumbing problem and have no idea what your doing. Take pictures on your phone. Go to home depot and talk to someone and show them the pictures. They will get everything you need and walk you through it step by step. Fucking easy. If you do not know how to lay carpet. Look it up on you tube. Again, step by step directions. spent a total of 1,400$ for everything. Including a used refrigerator from graigslist.
I'm sure all you guys are familiar with dollar stores. This is where you will purchase all your cleaning supplies, blinds, curtains and some other items you need like trash bags, paper towels and misc stuff.
Honestly, this was alot easier then I ever imagined. I kept thinking about all the cool places I was going to see on my travels and all the beautiful woman I would be with. Made me work like a beaver. Hehe
I put an ad in the paper about the unit and also online. In four days had about fifteen people calling me. Set my rent price at 830$ month. I pay for trash removal. They pay all other utilities. Also, no dogs.
Note:
Look for places that need alot of work. In the center of the city. These are your hidden gems.
So far so good. Money is now coming in. One day while chatting with someone near my apartment I was informed that there was another unit for sale in the same building that wasn't listed yet. Found the owner and viewed the unit. But, this place was worst then the last one. But, cheap. Perfect....
The following day I visited my bank to get a loan. Plus, chat with them about advice on rolling over my 401k.
Followed my blueprint of my first unit and began working on the second one. Unfortunately this place was worse then I originally thought. Needed a new hot water heater, two new windows, carpet and had electrical issues that needed addressed. 4,000$ in repairs. Fuck...
In all I purchased four units. The last two were also in very bad shape. But I learned a valuable lesson. Do not hire a contractor. Luckily I have a relative that does electrical work and just payed him half of what I would have payed a contractor. But, live and learn.
Since I'm not going to be living here I still needed someone to manage my places. So I contacted a friend and asked him if he would be interested in living in one of my units for free. All he has to do is manage my units. He pays his own utilities. My three units I'm renting out bring in about 2,500 a month.
Hope this information is helpful to some of you guys. If you guys have any questions feel free to pm me.
My short term goals:
Travel the world
Party with you fuckers
Try to keep my budget at about 1,500$ month.
Invest as much as possible in bitcoins
Sleep with as many beautiful woman as possible
Long term goals:
Become rich
Find two beautiful woman to be my live in girlfriends
Buy condos in about three locations around the world
Dominican Republic, Panama and Bulgaria
The three of us just bounce around from condo to condo
Or wherever.
See you guys whenever
How to live the dream and move abroad - Dantes - 07-23-2016
Great post and Kudos for having the balls to make this work.
How much was the first apartment you purchased? Did you pay for it in cash or take out a loan?
How to live the dream and move abroad - Schlep - 07-23-2016
I payed for the first one in cash. 28k
I was going to cash in my 401k and pay cash for all of them. But, I'm going to roll it over into an roth IRA and use that as my emergency fund.
How to live the dream and move abroad - Kissinger2014 - 07-23-2016
OP - why did you go against hiring a professional property manager to manage your units? You are effectively paying your friend $825 a month (or better: 33% of gross) to look after your news. A professional company would do it for far less.
And in the age of email, PayPal, we have anyone manage it? I know people who live in all corners of the world, and with the exception of hiring a company to find and vet tenets, have a direct relationship with their tenets.
How to live the dream and move abroad - edlefou - 07-23-2016
I've been a landlord for 14 years and it's possible to be location independent. I don't use a property manager, but I have in the past. More people should consider rental real estate, although it's not easy.
OP, your rental yields (35%) are off the charts on such a small investment, so good work, although I'm curious why all the owners are selling if it's such a sweet yield.
Also, rolling into Roth IRA you take a 20% tax hit, so that doesn't seem like a good idea, although emergency fund is crucial for any rental operation.
How to live the dream and move abroad - LINUX - 07-23-2016
Good for you man. I'm sure there will be a few guys chiming with this advice:
A. You'll get tired of fucking.
B. You'll miss not having a steady home.
C. You'll want to start a legacy and have kids because that's your purpose here.
D. You're running from your past.
E. You're running from yourself.
F. You'll end up alone.
But here's my advice since we're both older and have been married a few times.
My favorite part of what you wrote was :
Quote:Quote:
The three of us just bounce around from condo to condo
Or wherever. See you guys whenever
Those are two words that in context mean " I don't know where this path goes, but fuck it, I'm going to take it anyway.
You're essentially writing your own script.
Maybe it's going to be a comedy. Maybe a drama. Maybe it's going to be a tragedy. I don't know.
But at least wrote your own fucking book.
How to live the dream and move abroad - Schlep - 07-23-2016
@ kissinger
The reason I didn't use a professional property manager is because I know I can trust him. Plus, he just got out of rehab and wanted to help him as much as possible. My plan is to keep this units for five years and then sell them off.
@ edlefou
Honesty, I have no idea what to do with my 401k. If anyone has any suggestions I'm all ears. Also, to answer your question on why they were for sale. From what I gathered from talking with the previous owners was they all made comments about it being a pain in the ass renting to people. I guess just tired of the drama. Guess I'll find out.
How to live the dream and move abroad - Chauncey - 07-23-2016
Very inspiring Schlep. Congrats on acting on your dreams.
I have a question, which may sound stupid, but all I've known is life in the US with typical expenses. I work, earn income, pay bills, save a little, and build a residual income. I'm bored to fucking death and want to get out in the next 3-6 months.
From your experience, or anyone else's, is $3k -$3.5k per month USD residual income after taxes enough to live on in EE, SEA, SA, etc. I am a simple dude in that I'm not materialistic, but I'm also not an ascetic. I like to eat out, drink, and do shit, not necessarily 7 days a week but most days. I'm indifferent on the location for the most part.
What holds me back from pulling the trigger is I feel I need $5k+/mo to live on so I keep grinding it out building my residuals, maybe that is just an irrational fear, maybe it is legit, maybe it is just an excuse/procrastination. Everyone I know that i try to talk to about this thinks I'm crazy/delusional/Peter Pan.
What is a realistic monthly nut for a US dude to live a reasonable lifestyle abroad?
How to live the dream and move abroad - Dantes - 07-23-2016
Quote: (07-23-2016 04:51 AM)Chauncey Wrote:
Very inspiring Schlep. Congrats on acting on your dreams.
I have a question, which may sound stupid, but all I've known is life in the US with typical expenses. I work, earn income, pay bills, save a little, and build a residual income. I'm bored to fucking death and want to get out in the next 3-6 months.
From your experience, or anyone else's, is $3k -$3.5k per month USD residual income after taxes enough to live on in EE, SEA, SA, etc. I am a simple dude in that I'm not materialistic, but I'm also not an ascetic. I like to eat out, drink, and do shit, not necessarily 7 days a week but most days. I'm indifferent on the location for the most part.
What holds me back from pulling the trigger is I feel I need $5k+/mo to live on so I keep grinding it out building my residuals, maybe that is just an irrational fear, maybe it is legit, maybe it is just an excuse/procrastination. Everyone I know that i try to talk to about this thinks I'm crazy/delusional/Peter Pan.
What is a realistic monthly nut for a US dude to live a reasonable lifestyle abroad?
I think as though I need about 5k as well. Whenever I am abroad, I always end up spending more than I budget. However, I don't nickel and dime. With that said, I know guys who are doing it for less than 3k per month. Not having a car and relying on cheap public transportation in a place like EE is a great way to live within this budget. It is doable for sure, just depends on your lifestyle.
How to live the dream and move abroad - Schlep - 07-23-2016
@ Linux
Seems like your the only guy on this forum that understands me. Everyday that I spend here in the US I feel the life being sucked out of me. I just want to be free man. Fly into a foreign city with no plans. Just myself, suitcase and my laptop. Just wish it wouldn't have taken me so long to figure out what I truly wanted in life. See you on the other side brother.
@ Chauncey
You can live on about 1,000$- 1,500$ monthly in alot more countries then you think. Eastern Europe, south east asia, south America. Honestly, I think 1,500$ month your living a decent life. Remember, when we go on vacations we usual spend alot more money. Why? Because we are trying to do alot of things in a smaller amout of time. Also, the longer you spend at a location the more you will find the cheaper places to eat and etc.Everyone I talked to also said the exact same things to me. Family, friends, co workers. How stupid I was and I'm making a huge mistake. And, maybe they are right? Maybe I'll get shanked in the back down in Bogota behind a dumpster. But, at least I tried. When I was in the Philippines in April. I was in a small city called Oslob. Met an Aussie who told me he basically lives on about 800$ a month. Spends his life scuba diving and traveling around to the best spots for diving. Living in different locations around the world. Not sure if it's true or not but, thats what he told me. The only thing holding you back buddy is you.
Write down what you want to do in life. Now, go concur the world. See you whenever.
How to live the dream and move abroad - bacon - 07-23-2016
Great story Schlep. Very motivating.
I also own an apartment in the US and its helps support my lifestyle abroad. I use a Property Management company and have had little problems with them. If your apartments are reasonably nice and in a good location you can often find tenants that will renew the contract every year and make renting to them a breeze.
Can you explain your numbers some more? What is your profit on the $2500 a month you make after you pay the mortage, HOA dues, property taxes and insurance on 4 units (minus the mortgage on one unit)?
Also, how long did it take you to accumulate these units and how much time was spent remodeling them in total?
Finally, you are correct living abroad is much cheaper than traveling abroad as you can get lower costs on rent and expensive flights are not normally apart of your monthly budget. In my opinion, most single guys living outside of the west will be comfortable on $1500 a month.
Good luck on your new life.
How to live the dream and move abroad - Beirut - 07-23-2016
If the tenants are problematic and its pretty sure they will be since its a bad area and it pushed the owners to sell for cheap, then i think having your friend manage the units is a bad idea.
Plus hes expensive. When problems arise and youre abroad and need the stream of money, you could run into problems.
Help him in some other way.
Good luck with moving. Ill be joining you soon on a similar scheme
How to live the dream and move abroad - Schlep - 07-23-2016
@bacon
It took me about four months to purchase the units if my memory is correct. Usualy spent a total of about three weeks on renovations. With my work schedule I have seven days off. Basically, spend every second I could working on these places. I'm spending about 900 a month on everything. So my profit is at 1,600 monthly. Like I mentioned before. I could cash out my 401k and pay off the loan. But, I'm still thinking about everything.
To be 100% honest with you guys I do not really have a life. For the last seven months I have done nothing but plan for my new life. To the point of becoming obsessed with learning everything I possibly could on living abroad. No outside distractions. Except going on vacation in April. When I'm not working I'm planning and nothing is going to stand in my way of true happiness.
@ Beirut
Yeah, maybe I did make a mistake with him being my property manager. Seemed like a good idea at the time. Guess we will see.
How to live the dream and move abroad - bacon - 07-23-2016
@Schlep
Beruit is correct about the benefits of a property management company when you are abroad. They have the ability to run credit/background checks on clients, know how to advertise when a unit is vacant and make sure the contract and such is done professionally, and in the event of a tenant not paying the rent they have a legal team on hire to resolve those issues.
I think if you really find you have an issue with one of your units and tenants you will be in a much better position if a property management company is dealing with this when you are halfway across the world in SE Asia or Eastern Europe than with a friend.
Basically, they would make this a much more passive investment.
Also, you should run the numbers it is probably the same price or cheaper to have a property management company manage your units than the amount you are losing having your friend live in a unit for free.
How to live the dream and move abroad - Vacancier Permanent - 07-23-2016
Very inspiring Man! +1!
That's the way to go man! Not just thinking and day dreaming about a better, more fun and fulfilling life. You actually planned it out very well, worked hard to make it happen! Way to go man!
I'm confident you've made the best decision. Don't let naysayers and other lazy and envious guys bring you down! Go after your ideal lifestyle!
Budget wise, 3k/month is more than enough in SEA, China, and EE.
Depending on the type of women you prefer and the type of weather you'd want, the world is literally your playground! Just take your pick!
A world of freedom, happiness, adventures and memorable times are awaiting you!
Welcome to the REAL life, the way you and only you decide what to do, where to do it and with who, you want!
![[Image: clap2.gif]](https://rooshvforum.network/images/smilies/new/clap2.gif)
How to live the dream and move abroad - Schlep - 07-23-2016
Looking back on things it seems as you guys have a good point
About the property management company. Guess I kinda fucked up on that one. Live and learn from your mistakes.
How to live the dream and move abroad - Suits - 07-23-2016
Quote: (07-22-2016 11:58 PM)Schlep Wrote:
Made me work like a beaver.
Quote: (07-22-2016 11:58 PM)Schlep Wrote:
Find two beautiful woman to be my live in girlfriends
So....you worked like a beaver for the beaver?
How to live the dream and move abroad - dalbroker - 07-23-2016
Completely agree with Linux's post.
My 2 cents - $30k in today's age can be spent very quickly.
I would think long and hard about how you will sustain yourself.
$$$$ is what really gives you both the flexibility and the options
to do whatever you want, whenever you want.
Being a broke in Asia seems no fun to me. If you have a
concrete plan on generating $2k at least in income it would help.
Good luck on your adventure. Choose wisely.
Quote: (07-23-2016 04:10 AM)LINUX Wrote:
Good for you man. I'm sure there will be a few guys chiming with this advice:
A. You'll get tired of fucking.
B. You'll miss not having a steady home.
C. You'll want to start a legacy and have kids because that's your purpose here.
D. You're running from your past.
E. You're running from yourself.
F. You'll end up alone.
But here's my advice since we're both older and have been married a few times.
My favorite part of what you wrote was :
Quote:Quote:
The three of us just bounce around from condo to condo
Or wherever. See you guys whenever
Those are two words that in context mean " I don't know where this path goes, but fuck it, I'm going to take it anyway.
You're essentially writing your own script.
Maybe it's going to be a comedy. Maybe a drama. Maybe it's going to be a tragedy. I don't know.
But at least wrote your own fucking book.
How to live the dream and move abroad - Schlep - 07-23-2016
Thanks VP
Couldn't have done this without the forum. When I first became a member a little over a year ago, I didn't even know what being location independent meant. I stumbled across 262's relocation journal to Poland. Secretly wishing that was me. Or reading stories of Scotian and Linux down in Colombia having the time of their lives. (fuckers. Lol) reading about Washed up vet having the time of his life in Russia. Suits and CodyB partying and having a blast in china (bastards). Brodiaga killing it in Indonesia without me. Lol
Just wanted to give a shout out to all you guys. Thank you
How to live the dream and move abroad - Suits - 07-23-2016
The steps you've taken already are impressive, considering how few people with similar means have made the same effort.
However, on it's own $1500 per month isn't probably going to buy the sort of lifestyle that will win you two live-in girlfriends, unless you're pulling from particularly impoverished stock.
As for having a blast in China, you'll need a more solid income to be able to party hardcore, even if you do so as cheaply as possible. Going out is never cheap and having to always count pennies takes the fun out of it quickly.
If you're satisfied staying in most nights (and avoiding all the Western styled nightlife altogether), $1500 will buy you a comfortable lifestyle for one person outside of tier one cities. It won't be elegant and it's not going to attract women to you.
You've got a great start. I'd suggest doing a little living abroad on your proposed budget and see how much you enjoy it and then make adjustments accordingly.
How to live the dream and move abroad - Vronski - 07-23-2016
Quote: (07-23-2016 07:16 AM)Vacancier Permanent Wrote:
Budget wise, 3k/month is more than enough EE.
About EE, keep in mind that no one in his right mind would like to spend 12 months a year in Dnipropetrovsk, Brasov or Chisinau .....living permanently in EE or FSU means mandatory vacations to exotic countries to escape the winter. Especially if you have a GF who is worth a LTR. By no means she will enjoy to stay in Ukraine, Moldova, ect in January while almost all her female friends are in vacations in Ko Samui, Phuket or Goa ......she will also appreciate some weekend breaks in spring, and also might prefer in summer to travel to interesting destinations rather than to mix with the populace on the Black Sea (of course the cost of a vacation varies based on the luxury level, but anyhow just your three weeks vacations in January will cost you a minimum of 6-7000 € for two). BTW you might also want(or need) to make one or two trips back home each year to visit your mam or family.
You might also want to live in a nice pad at a prime location (1/4 to 1/3 of your budget).
You might also want to treat yourself in a high-end restaurant one or two times a week (in Kiev for exemple a top restaurant -let's say Stefano- will cost you about 80-100 €/person).
You might also want to spend a bit on clothes at each new collection - as we all know, dressing style is very important in this part of the world. As a side note, your GF would not understand if you spend for yourself and not for her, which double your clothes budget - and to dress for EE winter is more costly than to dress for Bangkok heat.
Ect, ect.
Just to say that with 3000 €/month, one can of course live decently in EE, but with this budget you'll still have to avoid the high-end venues, and it's definitely not enough to have an enviable lifestyle. IMHO.
How to live the dream and move abroad - Schlep - 07-23-2016
It seems that I have many things to think about. Honestly, I believe I have focused so much of my attention on making my move abroad that I neglected to properly make improvements on my planning of my life when living abroad. My impression was 1,500 a month would be ideal. But, after reading your comments I can see your valuable points. My only experiences have been dating filipinas. As you all know it is very inexpensive going on many dates in the phils. But, in eastern Europe or other asian countries this will ad up quickly. More things to consider.
How to live the dream and move abroad - Beirut - 07-23-2016
Plus with you being older, financial stability will be more important in attracting girls specially for long term relationships.
College boys can go slum it but youll be expected by quality girls to be able to afford a decent lifestyle.
How to live the dream and move abroad - frozen-ace - 07-24-2016
Schlep, how big is your 401(k)? $30K? $100K? $500K?
I think 262 wrote about it in his thread, but basically if you get the 401(k) rolled over into an IRA, and then convert it to a Roth IRA at the time of your choosing, you can pull money out as needed and not get hit with tax penalties. I don't recommend "cashing it out" because you'll lose 10% right off the top as a penalty. That will go straight to the IRS and you'll never get that back. There's also a 10% withholding (so 20% of the total is withheld), but you have the ability to get some of that back, depending on your overall tax situation and earnings for the year. If you have a tiny 401(k), then do whatever you find easiest because it won't really matter. If your 401(k) is huge, you should do the Roth conversion.
There are some steps involved in a Roth conversion. At a high level-
Roll the 401(k) to a low cost IRA custodian (Vanguard, Fidelity, Schwab, or whatever, I think Schwab is the most friendly if you establish any sort of residence outside the US, Vanguard isn't very nice to expats). Then wait until you get into a low/ no income tax year and convert the rolled over IRA into a Roth since the conversion is taxable (you are taking pre-tax money and making it post-tax). Best to establish residence in a no-tax state (like Fl, Tx, Sd, Wy, Nv). Assuming you have w-2 wages this year, do the conversion in early Jan. 2017.
Then once you have a Roth IRA, after 5 years you are allowed to take money out of the basis (not the earnings) without a tax penalty. If you are not 59 1/2 and you take any of the earnings out, you get hit with a 10% penalty. This is what doctors and a lot of high earners do who have a lot of tax sheltered assets, but don't want to wait until they are 60 to enjoy it. Then in Feb. 2021, you would have access to your Roth basis (not the earnings) to use as needed. You can always take the money out before then if you really need it, but you'll pay the penalty.
https://www.irs.gov/publications/p590b/ch02.html
From the IRS-
Are Distributions Taxable?
You do not include in your gross income qualified distributions or distributions that are a return of your regular contributions from your Roth IRA(s).
Distributions of conversion and certain rollover contributions within 5-year period. If, within the 5-year period starting with the first day of your tax year in which you convert an amount from a traditional IRA or rollover an amount from a qualified retirement plan to a Roth IRA, you take a distribution from a Roth IRA, you may have to pay the 10% additional tax on early distributions. You generally must pay the 10% additional tax on any amount attributable to the part of the amount converted or rolled over (the conversion or rollover contribution) that you had to include in income (recapture amount). A separate 5-year period applies to each conversion and rollover. See Ordering Rules for Distributions , later, to determine the recapture amount, if any.
How to live the dream and move abroad - 262 - 07-24-2016
I've been in Gdansk for about a year now, and $1,500 a month is more than enough for me. Roosh wrote somewhere that that was enough for him too. My major expenses are:
$800 - AirBnB, one month at a time, for an apartment to myself, without negotiation
$300 - Groceries (I almost never eat out)
Of course there are other expenses, but it all goes through my credit card, which doesn't exceed $1,500 - unless I make lump-sum payment, like $600 for a year's worth of health insurance.
I've also been in an LTR since October.