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FIND YOUR DREAM HOME OR APARTMENT
Lots of things to consider. Location is most important for any real estate. Demand is crucial, no matter how great you think it is, you can't make money or grow your asset base if you cant sell for a profit. If you find a dream place that you love and never plan to leave, that is fine too but hard to sell and no profit potential. Young folks, get in a high demand area and buy anything you can, fix it up and sell it to move up. Learn the market, knowledge is King. Own more then one property young and keep it. Get a real estate license for knowledge, learn, learn, learn. Build your asset base. If you're trying to sell what you know is a great deal, buy it your self. If you have knowledge and credibility, you can get money lenders or partners. Old guys moving to Philippines is fine too if you can enjoy what's left of your life there.
I wish you good luck though it is not luck that makes it happen.. Use you youth, physical and mental ability while you can. The years go by quickly either way. Beer and T.V. will keep you down. Don't waste your life, your life could be more grand then you can possibly imagine.
Well, there is NO WAY I could afford property like that here, but I can in certain parts of the Philippines. Beautiful ocean or mountain property, also some fine farmland and the best part is that you usually, well I should say, ALWAYS find a gorgeous young Filipina to share it with you.
That's where I'm heading, already have the gal there, ok!!! I'm cradle robbing LOL, she is 24 and I'll be 72 shortly. Eat your heart out guys, or better yet, join me over there, you'll never go back to those fat, selfish pigs here.
ddskimmer: A quick answer not possible w/your question, but short answer: At 51 if you don't have background knowledge growing up, a very steep learning curve ahead and odds are you won't have the health you had at 20 to 30 years old. But not impossible and possibly very rewarding. To do so, would just need to make absolute commitment/decision, then go for it, make it the best possible given resources available.
Lots of variables... How much money do you have to buy property, what standard of living expected, are you ready to devote yourself to a livestyle, how rural are you willing to go, how primitive, etc.
If I personally were were a city person and didn't have a too many resources (able to come up w/50-200k in cash and/or loans) or commitments (kids to support, etc.), would probably do rural Oklahoma or Arkansas. You could find acreage for approx 1000/acre or less in heavily wooded, secluded areas, long growing seasons and mild winters, could go about your business w/minimal interference/people in your business. Could get a residence, anywhere from pulling in a trailer(to 5k), to a small cabin(10-30k) to a "real house", 25k to however high you wanted to go. Would need to ensure you had power of some sort covered, from generator to installed utilities, along w/water--well and or stream. You would need storage, i.e. a shed or something, along w/tools for physical work, animal and/or plant husbandry, etc. A few chickens can be great if at low end of subsistence as cheap source of eggs and meat, but you need a chicken coop and some knowledge, and must be prepared to deal w/predators. Gardening skills very helpful.
Income sources are limited only by your imagination. People in these areas barter, trade and sell lots of things, could make money from growing fruit, woodworking, many other things. However, would not be a "rich" existence, BUT, many, many people do it.
If at lower end of subsistence, could be a very difficult initial set of years at 51 because of all the things needed to learn, if had more resources, you would want to plan for all basic necessities w/safety net, w/in a few years you could get to a point where knew enough to maintain standard of living w/acquired skills and knowledge.
Wish had your POC info, if knew more about your situation would be a lot easier to help. Bottom line is that is entirely possible no matter what your circumstances, but could be very challenging for a while, as well as very rewarding and personally gratifying.
