Quote: (10-28-2013 10:40 PM)Paul B Wrote:
My monthly budget is $1,000 more or less. This includes all expenses except rent.
Thanks Paul. You made several interesting and informative points. I would like to bounce a few more ideas off of you since you have on the ground information, and your profile says that you are from the United States – so that part would be similar to me and probably several other RVF guys considering the Phils as a possibility. Additionally, it seems to me that you share several values of guys on this forum (such as the desire to spend time meeting and banging girls); however, I am also open to PM, if you would feel more comfortable NOT sharing some information publicly.
Your description of $1,000 per month excluding lodging seems quite a bit less than what I had been considering. I was thinking under $3,000 per month total (including lodging), and my considerations included travelling back to the USA about twice a year and travelling around Asia (and possibly a little outside depending on travel deals) about once every 6-8 weeks.
In a few of my postings in the Fisto/Peru thread I projected the life expenses of an RVF expat for a five-month period of time, and provided some of my rationale for various expected expenses.
http://www.rooshvforum.network/thread-28636-...#pid548657
Quote: (10-28-2013 10:40 PM)Paul B Wrote:
I own three condos. I live in one and rent out the other two through vacation rental sites like Airbnb and Craigslist. I'm able to live off of this rental income and mutual fund returns.
I would NOT consider managing your two rental properties to be “retirement,” but certainly renting and managing your own properties is getting pretty close to a form of retirement because you are more or less your own boss. Nonetheless, once you get to the point where you are hardly having to perform any work (such as having someone else largely manage anything that comes up with your properties), then that may be more in the line of what I would consider retirement. I am NOT trying to argue with you because you have a right to describe yourself as retired, if you believe that description suits your purpose. I have a different view of retirement that more has to do with being able to live off of passive income (and for the reasons I mentioned, I would NOT consider managing rental property sufficiently passive, even though it has several benefits and several potentials to develop in that nearly completely passive income direction).
Without necessarily getting into your particulars, how much investment capital would you say that a guy would need to have to be able to own and rent three properties in Manila or another part of the Phils, in a similar situation like you have $250,000 - $400,000? In this regard, the goal would to be able to generate a fairly steady $1,000 + per month income? Actually, I personally believe that it would be safer to generate at least a $1,500 per month income in order to have enough left over cushion to feel fairly safe, but maybe to continue to up the rental income over the years by reinvesting some of the profits.
Sometimes guys will wonder about investing in property in a third world country – because property is NOT very mobile and because of feelings about the security of one’s assets, because also if you are NOT a citizen of that country there are uncertainties about how many rights you have if push comes to shove and you get into some disputes with some locals and/or govt officials… who then may try to go after your accumulated assets. Also, if you are kind of a player and some of the girls in your harem may get attached to you and potentially try to create drama and/or attempt to liberate you from your accumulated assets, no?
Quote: (10-28-2013 10:40 PM)Paul B Wrote:
Yes, I travel frequently within the Philippines and to other countries in Asia. In fact, I just got back from a trip to Malaysia/Thailand (Kuala Lumpur, Ao Nang, Ko Phi Phi, Phuket Town, Chalong, and Patong).
That seems to be one of the perks of basing oneself in the Phils is the geographical logistics and being able to periodically bounce to several nearby and fairly exotic locations for a fairly inexpensive trips. You said that you want to travel more, so at this time are you travelling in the area a few times a year?
Quote: (10-28-2013 10:40 PM)Paul B Wrote:
I don't agree that living in the Philippines is boring. Between managing my rentals, meeting girls, malling, working out, buying groceries, cooking my own meals, and paying bills, I'm definitely not cruising as much I would like. Some day, when I have things running more smoothly, I'd like to spend more time traveling, learning languages, taking fishing trips, etc.
I am glad to hear that you do NOT consider life in the Phils boring, and I suppose that it is a matter of finding some activities that are interesting. The activities may vary from person to person, but you listed several activities that would be good enough for me. Additionally, meeting and banging girls can be interesting in itself. I also get some pleasure out of reading and writing… so if I were to have more time, I could engage in those kinds of activities (so I am thinking that I would NOT easily get bored so long as I have access to the internet for research and a computer for writing).
Personally, I would rather NOT have to spend very much time cooking my own meals, shopping or doing my laundry. Currently, part of my goal in leaving the first world is to be able to get out of having to engage in those kinds of activities (without having the burden of a wife or friend with benefits), so I would want to include enough in my budget in order that I would be able to contract out some of those activities that I find less interesting.
Quote: (10-28-2013 10:40 PM)Paul B Wrote:
The food is generally fine in Metro Manila, and $500 a month is more than enough. Eating low carb is definitely a challenge though. When I eat low carb, I usually order chicken or pork takeout from local barbecue places (Chicboy, Andoks, Mang Inasal, Chooks, SM Supermarket, etc.) and eat it at home with cabbage, cauliflower rice, spinach, kimchi, or a combination of the above.
Once you leave Manila, the food is a different story...
I would imagine that there is more food variety in a big cities like Manila, and I hear that Cebu has a lot of Koreans, so may be some Korean food there.. and Davao has a china town, so maybe some good Chinese food there?
On another thread, I mentioned that it may be a good challenge to find girls in the Phils that would be ready, willing and able to assist in a venture of seeking out and locating good food in the Phils, as a sort of hobby. Then of course bang them afterwards and rinse and repeat.