Thanks Andrew for the insight. I will just sell my home here in Phoenix, AZ, and pray I am able to buy a freehold one story bungalow over there after moving to FL for 185 days for residency purposes. I really do not want to live in a high rise in KL if I can avoid it. Maybe you can do a video on finding and buying a freehold bungalow in Malaysia... That would help others, too. Stay well, Andrew!!!
Fantastic. Helps me understand the reality of being an overseas landlord, versus the image I’ve built in my mind. Seems easier than expected as long as there’s no mortgage involved.
My brother lives in Singapore. I used to help him in the past renting out his condo. But he sold it after 10 years. He sure never pay me anything helping him running around
Wow, congratulations! Buying property unseen, renovating, renting, and selling; all of it accomplished successfully (with sister's little help) at a very long distance away. That's amazing...you were fortunate :)
I have a house in South Carolina that I have as a rental, there's a lot of costs associated with renting that people don't fully realize such as; property management fees, insurance, maintenance, renter turnover charges, pest/termite services, state and federal taxes, property taxes 5X higher since it's not my primary residence, HOA fees, and etc. If I were to move overseas, I would sell it and put the money in a high yield savings account, or other investments to generate additional income that doesn't cause such a headache. BTW just spent 2K to have squirrels removed from the attic, it can be a pain in the butt to have rental property when you live out of state, or the country.
It depends on how much that monthly profit is in the end as to whether it's worth it. For us, we net $22k/year. Plus, here in Colorado, our equity is going up up up.
The reason why i subscribed and watched your video is because you are such an easy going guy. It can be seen from the way you rent out your apartment in the states. All the best in Malaysia Taylor❤
I considered doing that but looked at facts. For each dollar invested in a rental including up keep, expenses, taxes, $10-$20 was made in a defensive portfolio. BRK is a great example. Defense, less volatility and 10-15% on average a year with no tenants, headaches, regulations, huge expense surprises
If your rental is in a bad area and therefore you get bad tenants, I guess so. We're in Colorado and make a ton off our rental. Depends on your situation.
Doing the same, but use a letting company to manage the property as i dont want to trouble friends and family to deal with issues relating to rhe property
I did it with blink camera and rented rooms instead of renting the unit. You can always ask tenants to open the door for inspection, showings etc. Better with building that has HOA tho.
Excellent video, Taylor! Good to this win-win for you on your condo - you preserved your cash flow and eliminated the costs of ownership. Well done! - Mark O
Thank you Taylor, I enjiyed this video and you broke things down into simple easy to understand increments. Glad you have done well and will have more freedom now to enjoy your retirement in Malaysia 😊
Yeah, our rental is in the mountains of Colorado and we do really well. I don't know if it would be so good if it was in Florida with "Florida Man" lol.
Saturday morning, first coffee and Andrew’s new video on the iPad, the weekend start!😂 Interesting subject once again, we decided to sell our apartment back in Amsterdam when we moved here as well, not knowing how it would work out in Malaysia, but knowing the family was here in SE Asia anyway, we gave it a shot and apart from my passport, no bonds to The Netherlands anymore. I feel free about it and frankly I wouldn’t want the obligation of taking care of property back in Amsterdam, while living in KL. Thanks again for the video, have a good weekend!
Interesting video. We have the same dilemma. We have a house in Thailand and i am semi retired and will retire fully next year and have a house in the UK. Its going to be a worry keeping it and thus we are starting to get rid of belongings and things we don't need in preparation for selling in the next couple of years. I also have a sister who could manage it but she is getting old and doesn't want to maintain it for us.
Great info. I just figured I'd hire a property management company to rent my house out when I move to Asia but I totally like the idea now of selling and financing it myself. Sounds so worry free. P.S., I've got a feeling that you've got many many happy years left on this planet.
Thanks for sharing your process of owning/renting overseas back in the US. Glad it all worked out for you. Yes, maintenance on property can be a lot from afar...it is why I prefer to invest in stocks/bonds. It's just more manageable for my tastes...
You were really lucky with your tenants. I had a house in SF, and when I was posted to Hong Kong for my job, I rented it out, after one year the tenant stopped paying rent. After 3 months I had to initiate eviction proceedings. It was another 9 months before he finally left. So he stayed a whole year for free, and all the rent I collected from the first year went towards legal fees. The laws in San Francisco favor tenants, and tenants know they can live up to a year for free. Tenants even stop paying rent and then demand to be paid to move.
We had tenants on our property for ard 10yrs for really cheap rental n when its time they move we found out all those yrs they did not pay the utilities bills!😂😂😂😂
@@PeterLeo-m6w should get a good Lettings agent. Tenants who r professionals, mature age, taking references; the agent is paid an annual fee. They collect the rent and deals with any thing to do with the property. Landlord should also have a very good Lettings insurance.
It is also my retirement plan in the future. I get my apartment, live in it another couple years there. Once I retire, I rent it out and use the money to stay in Malaysia. It depends on my lifestyle, if I still want to go back and work part time once in a while, I will stay in JB which is near Singapore. If I want a full retirement, I will want to move to other States of Malaysia instead.
I would sell my US house too when i move to Malaysia or another country. I wouldn't want to be bothered with being a landlord, having to manage the rental, find and deal with tenants, and do taxes. I would use some of the money to buy a place in the country I'm moving to and make money in stock funds with the rest of the money. There's no hassle or work in stock funds at all. From my investment experience, I'm sure I'll make more money than rent.
Taylor, Have you ever thought about putting your money in REITS instead? It's similar to owning a property, only that you don't have to deal with all the hassle of owning yourself. I think you'll also get more annual percentage too! Or you can put in Treasury Bonds(5% annual return). Do you think WISE money transfer would be less of a hassle as well?
Andrew, my Malaysian wife and I (British) are finally retiring to Malaysia this September even though we have left it longer than we initially planned. We already have an apartment in Melaka which we bought outright in 2004 for this very purpose. Like yourself we had savings sitting in the bank and decided to buy a long leasehold apartment here in the UK for rental purposes. We have just recently completed on this purchase. Our two teenage grandsons will live in our main home rent free but will be responsible for their own bills. We will have the apartment fully managed for a 8% fee. No one can predict the future, and at the end of the day, I feel the security of knowing one already has a home to return too if things go belly up is a sort mental safety net. The extra income from the rental is a bonus and will allow a few extras in life. Hope to meet up one day.
I've been renting out a house in the UK and living in a different country for more than 20 years now. Part of that time was in the US as well. Can relate to the content.
Thanks for the video Taylor -- my ONLY concern would be the way you're holding the mortgage and having the payments come to you instead of taking it in a lump sum is that you may be inclined to spend above your means and when the payments stop, that income will be lost and with inflation down the line in Malaysia - SS may not cover everything. This is just friendly advice - I hope you set aside some of the money in possibly a high-yield savings account. I know this is none of my business - just giving some possibly helpful advice. Again - love your channel and looking forward to more videos.
Amazing video , I wanted to ask you why you didnt buy a property in KL as an investment. I also want to investment in Real Estate and I can't decide between Malaysia or USA. Best wishes
Years ago I sold my house and went travelling, when I came back house prices had skyrocketed. Always buy and sell in the same market. 20 years later I decided not to sell when I left to retire overseas. I own my property outright. My considerations were that I wanted somewhere in the world where there was a place I could go and live if I wished to, security. Second, it provides me with an income stream. Third, there are capital gains to be made on it. I already owned it so it was only a matter of employing a property manager to look after it. So far they have been great, they find tenants and get the top rent rate for me. As time goes on and I age if I decide to never move back then I will probably sell. By that time I will have more than enough to live comfortably on and will be able to stand the loss of income from the rent. As always, in my opinion, we should be looking at how much time we have left, this is an unknown but if I'm approaching 80 I do know I don't have 30 years left, so do the calculations and make life easy and enjoyable, you've earned it. This is why I'd sell my property if I'm still living overseas.
Thanks, Taylor! I’ve wondered about us renting our house out too but I don’t know that ours would be good for a rental. We also have 2 small dogs. If we went somewhere else, we’d need a big backyard like what we have now. We may just have to wait a few years.
Hey Taylor, great video! I was wondering why didn’t you just leave the A/C on at 75/76 so no Mold would have built up even though you would have had a electric bill each month but would have been cheaper than the $30k on mold,etc
Oh I want to finance them myself when I sell - but with the potential of CBDC's and country debt loads worldwide, I don't know what currency will look like in the future. Thanks for the wonderful vid - I am discouraged about my one rental which has incurred close to 30,000 in debt in a year and a half!
Congatulations Andrew 🎉 good thought process & goodluck with your decision!! Yes we have done something similar, we have an agent who fully manages our affairs & an accountant, i know that's is extra expensive, but i wanted peace of mind, so far quite straight forward, although i'm not tech savy so simetimes i find that a bit challenging, so far so good, it suits us and not expensive, yes we have kept our rent reasonable & our tenant seems conciensious, a young family, who said she would take care of the property, can only hope, has crossed my mind about selling but early days yet, only few months in living here in Malaysia, i know exactly what you mean about cutting off ties, it does feel like that, emotional attachment 😅 i'm glad you have settled & Malay and is now what you call your home !! Found this video very interesting, as sort of in the same boat 😅
if you owned no real estate, but wanted to buy some, would you buy something local or something 12,000 miles away? when zed knows you're 12,000 miles away, zed will be changing his harley's motor oil on your living room carpet. everything works out fine, until it doesn't.
@@andrewtaylor4558When you were renting your apartment, did you file the taxes yourself or you had a lawyer do it for you? How do you send your tax papers from KL if you did it yourself?
Thanks for sharing your experiences with your US apartment. I am still thinking about if i want to own a second home while i live in Malaysia. It seems the costs of a second base might not be worth it. Like you, my thought is to come back every so often to visit family and friends but with the rising costs of home ownership and taxes, it might not be worth the effort. Like most retirees, i have also been eyeballing Florida but the condo prices have gone up as well as the HOA fees and insurance.
I agree about not investing as you are older. I think that the way you are selling it is probably the best way to do it if you tend to spend your money easily. A monthly income with no headaches is better than renting it out and having to deal with all the things you mentioned!!! did you use any type of title company or document service to make that mortgage official? I have never done that so I am very interested.
Very smart!!! Collecting all that interest by acting as the mortgage company is equivalent to a second income stream. AND if at any time the buyers stop paying, you get the property back and start all over again. Just remember to always consider the worst case scenario... WHAT IF?????
Curious about you mortgage for the couple on the your sales: it is done thru a personal contract and what if there is a dispute later during the later instalment payment ?
Rentals are low for an average property. Rentals are higher for the expensive properties but it is also very expensive to buy the rental in the first place.
Biggest problem now is they are expecting people to have a retirement income of $9,000 a month that’s 108,000 retirement yearly it’s a high bar I’m pretty well off but to get my assets to generate $9,000 a month without working is going to be a challenge.
Solution. Check out Sabah and Sarawak visa requirements. You will find their income requirements are much lower than in mainland Malaysia. If you manage to obtain a visa for either of these two states that retirement visa will allow full access to mainland Malaysia as well.
As long as it makes you feel comfortable, you are free to live anywhere you wish. Whichever country you chose, the truth remains that God owns the universe; your home countries are merely the makers of the laws that govern it. But once you live in your own home, you live in your own universe and follow your own rules. As a result, you should make the most of it and live outside of your house worry-free. We appreciate you making Malaysia your home. Since your residence is not too far from mine, I hope to run into you one day.
Weird take. It's his property in which he's invested his hard earned money. Renting it out is providing a service. No different than selling someone a hotel room.
Every business you can think of "leeches" off a customer. It is called business and businesses are in business to make a profit. Landlords are no different.
@@sichuan385 you mean you got blasted by communists. Ask them if you can use their car or stay with them for a couple of weeks without having to pay rent.
Hey Taylor! Recently subscribed 2 ur channel. Have learned quite a bit. Retired and looking to leave NYC behind. Would like 2 know if there's a way 2 contact u (email?) as I would love 2 chk out KL. Thank you for the great info.
Glad that you are feeling comfortable enough to say Malaysia is your home. Appreciate the vlog. Best wishes to you and to Earl Grey.
Thank you! 😃
Don't die next week. We need more contents from you 🥰
Ok 😂
Good hearted person will always be bless
That was a very smart move to replace the pipes.
You've made some good decisions and are reaping the benefit. Very happy that you will still have a nice income stream!
What a wonderful video about managing your property in USA.
Excellent vlog. May God grant you a happy, and healthy long life.
Seems like a win-win. Landlord turned mortgage financier. Pretty impressive
Home Sweet Home. Malaysia is your home Taylor.
I live one day at a time. Just enjoy a short ride in life.
Thanks Andrew for the insight. I will just sell my home here in Phoenix, AZ, and pray I am able to buy a freehold one story bungalow over there after moving to FL for 185 days for residency purposes. I really do not want to live in a high rise in KL if I can avoid it. Maybe you can do a video on finding and buying a freehold bungalow in Malaysia... That would help others, too. Stay well, Andrew!!!
Best of luck!
Fantastic. Helps me understand the reality of being an overseas landlord, versus the image I’ve built in my mind. Seems easier than expected as long as there’s no mortgage involved.
My brother lives in Singapore. I used to help him in the past renting out his condo. But he sold it after 10 years. He sure never pay me anything helping him running around
😂
My brother helps me manage my rental, I paid him one month of rent every time there’s a change of new tenant. 😂
Thanks for sharing your real estate investment Taylor 👍
My pleasure!
Taylor, please continue to keep it real. Talk about life and survival skills.
Wow, congratulations! Buying property unseen, renovating, renting, and selling; all of it accomplished successfully (with sister's little help) at a very long distance away. That's amazing...you were fortunate :)
Yes! Thank you!
I have a house in South Carolina that I have as a rental, there's a lot of costs associated with renting that people don't fully realize such as; property management fees, insurance, maintenance, renter turnover charges, pest/termite services, state and federal taxes, property taxes 5X higher since it's not my primary residence, HOA fees, and etc. If I were to move overseas, I would sell it and put the money in a high yield savings account, or other investments to generate additional income that doesn't cause such a headache. BTW just spent 2K to have squirrels removed from the attic, it can be a pain in the butt to have rental property when you live out of state, or the country.
Good points! 🤗
It depends on how much that monthly profit is in the end as to whether it's worth it. For us, we net $22k/year. Plus, here in Colorado, our equity is going up up up.
An interesting video. I certainly hope you don’t die tomorrow. Livewell and prosper! Cheers!
The reason why i subscribed and watched your video is because you are such an easy going guy. It can be seen from the way you rent out your apartment in the states. All the best in Malaysia Taylor❤
Thank you so much 😊
Hi.. Lovely vedeo.. You are Smart man and brave.. Nora here❤❤🎉🎉
Thank you 🤗
Love your channel Andrew .. keep going
I considered doing that but looked at facts. For each dollar invested in a rental including up keep, expenses, taxes, $10-$20 was made in a defensive portfolio. BRK is a great example. Defense, less volatility and 10-15% on average a year with no tenants, headaches, regulations, huge expense surprises
If your rental is in a bad area and therefore you get bad tenants, I guess so. We're in Colorado and make a ton off our rental. Depends on your situation.
Doing the same, but use a letting company to manage the property as i dont want to trouble friends and family to deal with issues relating to rhe property
Nice to hear you again, mate
Interesting video Taylor. Stay safe, stay healthy. Looking fwd to yr future videos !🎉
I did it with blink camera and rented rooms instead of renting the unit. You can always ask tenants to open the door for inspection, showings etc.
Better with building that has HOA tho.
Great information.
Glad it was helpful!
Excellent video, Taylor! Good to this win-win for you on your condo - you preserved your cash flow and eliminated the costs of ownership. Well done! - Mark O
So true!
I will do the same when I will leave France to Malaysia in few years. Take care my friend!
Excellent topic and relevant to our situation.
An honest and practical advice, which I'm sure your viewers will find to b very useful Andrew.
Thanks 👍
Thank you Taylor, I enjiyed this video and you broke things down into simple easy to understand increments. Glad you have done well and will have more freedom now to enjoy your retirement in Malaysia 😊
Glad it was helpful!
Nice sharing... enjoy your life and stay healthy...
I have friends who rented out their home in Melbourne and moved to Thailand, live off their rental income
Yeah, our rental is in the mountains of Colorado and we do really well. I don't know if it would be so good if it was in Florida with "Florida Man" lol.
Plan sounds good.
Love your jokes in this video. Stay healthy and happy ❤
If it was me. I probably sold it and put money in income ETFs like REITs and just enjoy collecting monthly dividends.
Hi ! Enjoyed ur.video, really makes sand ! ❤❤❤❤
Thanks!
Thank you so much for your support! 🤗
Saturday morning, first coffee and Andrew’s new video on the iPad, the weekend start!😂 Interesting subject once again, we decided to sell our apartment back in Amsterdam when we moved here as well, not knowing how it would work out in Malaysia, but knowing the family was here in SE Asia anyway, we gave it a shot and apart from my passport, no bonds to The Netherlands anymore. I feel free about it and frankly I wouldn’t want the obligation of taking care of property back in Amsterdam, while living in KL. Thanks again for the video, have a good weekend!
Thanks Eric! 🤗
Seems like a nice boy.
Interesting video. We have the same dilemma. We have a house in Thailand and i am semi retired and will retire fully next year and have a house in the UK. Its going to be a worry keeping it and thus we are starting to get rid of belongings and things we don't need in preparation for selling in the next couple of years. I also have a sister who could manage it but she is getting old and doesn't want to maintain it for us.
Great info. I just figured I'd hire a property management company to rent my house out when I move to Asia but I totally like the idea now of selling and financing it myself. Sounds so worry free. P.S., I've got a feeling that you've got many many happy years left on this planet.
Hope so 🤞
Hello Taylor, how did you finance yourself?
Great watching as always. So much fun. Also... Don't die next week!😂
Pls could u do a video on you speaking Malay! Nearly 10 years of practicing 🎉
Taylor, you're the nicest american i have ever encountered.
Thank you but not always. 😂
That's because you haven't met me yet... 😁... just kidding. He seems really pleasant and im looking forward to meeting him when i travel there.
What a great idea to let out property in your country and chanel the yield into Malaysian ringgit just about have a great life and time here.
Thanks for sharing your process of owning/renting overseas back in the US. Glad it all worked out for you. Yes, maintenance on property can be a lot from afar...it is why I prefer to invest in stocks/bonds. It's just more manageable for my tastes...
You were really lucky with your tenants. I had a house in SF, and when I was posted to Hong Kong for my job, I rented it out, after one year the tenant stopped paying rent. After 3 months I had to initiate eviction proceedings. It was another 9 months before he finally left. So he stayed a whole year for free, and all the rent I collected from the first year went towards legal fees. The laws in San Francisco favor tenants, and tenants know they can live up to a year for free. Tenants even stop paying rent and then demand to be paid to move.
Sorry to hear this. 😮
We had tenants on our property for ard 10yrs for really cheap rental n when its time they move we found out all those yrs they did not pay the utilities bills!😂😂😂😂
@@PeterLeo-m6w should get a good Lettings agent. Tenants who r professionals, mature age, taking references; the agent is paid an annual fee. They collect the rent and deals with any thing to do with the property. Landlord should also have a very good Lettings insurance.
It is also my retirement plan in the future. I get my apartment, live in it another couple years there. Once I retire, I rent it out and use the money to stay in Malaysia. It depends on my lifestyle, if I still want to go back and work part time once in a while, I will stay in JB which is near Singapore. If I want a full retirement, I will want to move to other States of Malaysia instead.
Sabah is a lovely and friendly place. Easier than the mainland to get a retirement visa too.
I would sell my US house too when i move to Malaysia or another country. I wouldn't want to be bothered with being a landlord, having to manage the rental, find and deal with tenants, and do taxes. I would use some of the money to buy a place in the country I'm moving to and make money in stock funds with the rest of the money. There's no hassle or work in stock funds at all. From my investment experience, I'm sure I'll make more money than rent.
Probably
Taylor,
Have you ever thought about putting your money in REITS instead? It's similar to owning a property, only that you don't have to deal with all the hassle of owning yourself. I think you'll also get more annual percentage too!
Or you can put in Treasury Bonds(5% annual return).
Do you think WISE money transfer would be less of a hassle as well?
Andrew, my Malaysian wife and I (British) are finally retiring to Malaysia this September even though we have left it longer than we initially planned. We already have an apartment in Melaka which we bought outright in 2004 for this very purpose. Like yourself we had savings sitting in the bank and decided to buy a long leasehold apartment here in the UK for rental purposes. We have just recently completed on this purchase. Our two teenage grandsons will live in our main home rent free but will be responsible for their own bills. We will have the apartment fully managed for a 8% fee. No one can predict the future, and at the end of the day, I feel the security of knowing one already has a home to return too if things go belly up is a sort mental safety net. The extra income from the rental is a bonus and will allow a few extras in life. Hope to meet up one day.
Why did you choose melaka as your home in Malaysia?
Thank you very much for the video
I've been renting out a house in the UK and living in a different country for more than 20 years now. Part of that time was in the US as well. Can relate to the content.
Thanks for the video Taylor -- my ONLY concern would be the way you're holding the mortgage and having the payments come to you instead of taking it in a lump sum is that you may be inclined to spend above your means and when the payments stop, that income will be lost and with inflation down the line in Malaysia - SS may not cover everything. This is just friendly advice - I hope you set aside some of the money in possibly a high-yield savings account. I know this is none of my business - just giving some possibly helpful advice. Again - love your channel and looking forward to more videos.
Thanks
Amazing video , I wanted to ask you why you didnt buy a property in KL as an investment. I also want to investment in Real Estate and I can't decide between Malaysia or USA. Best wishes
Real estate is flat in Malaysia now. Way overbuilt
Years ago I sold my house and went travelling, when I came back house prices had skyrocketed. Always buy and sell in the same market.
20 years later I decided not to sell when I left to retire overseas. I own my property outright. My considerations were that I wanted somewhere in the world where there was a place I could go and live if I wished to, security. Second, it provides me with an income stream. Third, there are capital gains to be made on it. I already owned it so it was only a matter of employing a property manager to look after it. So far they have been great, they find tenants and get the top rent rate for me.
As time goes on and I age if I decide to never move back then I will probably sell. By that time I will have more than enough to live comfortably on and will be able to stand the loss of income from the rent.
As always, in my opinion, we should be looking at how much time we have left, this is an unknown but if I'm approaching 80 I do know I don't have 30 years left, so do the calculations and make life easy and enjoyable, you've earned it. This is why I'd sell my property if I'm still living overseas.
Shrewd!
Thanks, Taylor! I’ve wondered about us renting our house out too but I don’t know that ours would be good for a rental. We also have 2 small dogs. If we went somewhere else, we’d need a big backyard like what we have now. We may just have to wait a few years.
Hey Taylor, great video! I was wondering why didn’t you just leave the A/C on at 75/76 so no
Mold would have built up even though you would have had a electric bill each month but would have been cheaper than the $30k on mold,etc
I actually did. It was a leak from the upstairs unit. He refused responsibility. 😩
@@andrewtaylor4558 wow, sorry that happened to you
Oh I want to finance them myself when I sell - but with the potential of CBDC's and country debt loads worldwide, I don't know what currency will look like in the future. Thanks for the wonderful vid - I am discouraged about my one rental which has incurred close to 30,000 in debt in a year and a half!
😮
Congatulations Andrew 🎉 good thought process & goodluck with your decision!! Yes we have done something similar, we have an agent who fully manages our affairs & an accountant, i know that's is extra expensive, but i wanted peace of mind, so far quite straight forward, although i'm not tech savy so simetimes i find that a bit challenging, so far so good, it suits us and not expensive, yes we have kept our rent reasonable & our tenant seems conciensious, a young family, who said she would take care of the property, can only hope, has crossed my mind about selling but early days yet, only few months in living here in Malaysia, i know exactly what you mean about cutting off ties, it does feel like that, emotional attachment 😅 i'm glad you have settled & Malay and is now what you call your home !! Found this video very interesting, as sort of in the same boat 😅
Thank you for sharing 🤗
Your a cool dude...
😎
if you owned no real estate, but wanted to buy some, would you buy something local or something 12,000 miles away? when zed knows you're 12,000 miles away, zed will be changing his harley's motor oil on your living room carpet. everything works out fine, until it doesn't.
So true 😂
Thank You.
Can you please do a video on how an overseas persopn can buy a property in Malaysia for retirement. God Bless
Anyone can buy property in Malaysia. The problem is getting a long term visa.
Better to rent in my view unless you want to live in the same area on retirement. By renting it is easier to move location.
I have a paid off house that I rent out as well. It’s great peace of mind. Thanks for sharing your story.
See you in a few months!
@@andrewtaylor4558When you were renting your apartment, did you file the taxes yourself or you had a lawyer do it for you? How do you send your tax papers from KL if you did it yourself?
Kevin's here, too. 😁
Thanks for sharing your experiences with your US apartment. I am still thinking about if i want to own a second home while i live in Malaysia. It seems the costs of a second base might not be worth it. Like you, my thought is to come back every so often to visit family and friends but with the rising costs of home ownership and taxes, it might not be worth the effort. Like most retirees, i have also been eyeballing Florida but the condo prices have gone up as well as the HOA fees and insurance.
Yep 😔
I agree about not investing as you are older. I think that the way you are selling it is probably the best way to do it if you tend to spend your money easily. A monthly income with no headaches is better than renting it out and having to deal with all the things you mentioned!!! did you use any type of title company or document service to make that mortgage official? I have never done that so I am very interested.
It’s not done yet. Will be using a lawyer
Very smart!!! Collecting all that interest by acting as the mortgage company is equivalent to a second income stream. AND if at any time the buyers stop paying, you get the property back and start all over again. Just remember to always consider the worst case scenario... WHAT IF?????
💙
OMG 12,000km landlord that's amazing how do you do that? me only 25km landlord facing horrible things always slack me my monthly😩
I’ve been lucky. 🤗
Curious about you mortgage for the couple on the your sales: it is done thru a personal contract and what if there is a dispute later during the later instalment payment ?
Not sure. A lawyer will set it up.
if u are not going to live here anymore, good thinking. just wish they could get the "my second home" rules settled
Me too 🙏
Stocks are scam. Wise decision real estate always a safe investment if you don't buy overpriced.
How much renting out in florida on average? Well usa interest is very high. So rental and maintenance went up.
About $1,600 for one bedroom
@@andrewtaylor4558 wow expensive
@@andrewtaylor4558 in singapore now, sgd 1200.
Crocodile 😮
I’d think that all your expenses are tax deductible if you’re required to declare the income.
Yep
Have you thought about owning a property in Malaysia as rental property?
Nope
Rentals are low for an average property. Rentals are higher for the expensive properties but it is also very expensive to buy the rental in the first place.
Your so funny :)
Biggest problem now is they are expecting people to have a retirement income of $9,000 a month that’s 108,000 retirement yearly it’s a high bar I’m pretty well off but to get my assets to generate $9,000 a month without working is going to be a challenge.
Should be changing soon.
Solution. Check out Sabah and Sarawak visa requirements. You will find their income requirements are much lower than in mainland Malaysia. If you manage to obtain a visa for either of these two states that retirement visa will allow full access to mainland Malaysia as well.
you bought n own land or property in mlysia. good idea n smart. hahaha
Who is Earl Grey?
Cat
3rd ❤ ur channel ty for another great video
Thanks for watching!
May I ask what is AHPC , Taylor. I live in CA and would like to live in Malaysia once I retire and rent out the house here. Thanks.
HSBC is a bank I think.
Yep, a bank HSBC
@@andrewtaylor4558 I used to have their credit card until they sold the business. I don’t see them as a bank in California though.
HSBC is one of the larger Asia banks and have branches worldwide.
As long as it makes you feel comfortable, you are free to live anywhere you wish. Whichever country you chose, the truth remains that God owns the universe; your home countries are merely the makers of the laws that govern it. But once you live in your own home, you live in your own universe and follow your own rules. As a result, you should make the most of it and live outside of your house worry-free. We appreciate you making Malaysia your home. Since your residence is not too far from mine, I hope to run into you one day.
I wouldn't tell people I am a landlord, people will think u are leeching off the hard work of American people
Weird take. It's his property in which he's invested his hard earned money. Renting it out is providing a service. No different than selling someone a hotel room.
Every business you can think of "leeches" off a customer. It is called business and businesses are in business to make a profit. Landlords are no different.
I got blasted by people on social media for being a landlord
@@sichuan385 you mean you got blasted by communists. Ask them if you can use their car or stay with them for a couple of weeks without having to pay rent.
There are good landlords too.
Any plans to get properties in Malaysia?
Why, when renting in Malaysia is very affordable unless you want to live in the "golden triangle" of KL.
Nope
Hey Taylor! Recently subscribed 2 ur channel. Have learned quite a bit. Retired and looking to leave NYC behind. Would like 2 know if there's a way 2 contact u (email?) as I would love 2 chk out KL. Thank you for the great info.