[Tiger Beer]

Here is an idea I've had from time to time. As I'm an American living abroad, at times I think it would be real nice to own something. Some piece of property that I could eventually pay off, and be guaranteed of having somewhere to go, when I become old.

So, the question is, IS IT WORTH IT? Is buying a house like that, and not particularly living in it, worth it? I'd still have to find rental tenants, and pay property taxes. It would age by the time I got there. The way things are going here now (in Japan and quite content). It might not even be 10 or 15 years down the road before I'd even make the move. But could be sooner as well.

Downsides seem plenty though. There seem to be a lot of absentee landlords, creating it's own problems because of it, and I'd end up as one of those for awhile.

The other option is to just save the money, and wait until the time came when I knew with 100% certainty I am ready for the move. Look for a place at that time, etc. It makes the most sense. Plus, time changes people, and 15 years, maybe I'd have somewhere else in mind.

[Superman12]

Originally Posted by Tiger Beer

Here is an idea I've had from time to time. As I'm an American living abroad, at times I think it would be real nice to own something. Some piece of property that I could eventually pay off, and be guaranteed of having somewhere to go, when I become old.

So, the question is, IS IT WORTH IT? Is buying a house like that, and not particularly living in it, worth it? I'd still have to find rental tenants, and pay property taxes. It would age by the time I got there. The way things are going here now (in Japan and quite content). It might not even be 10 or 15 years down the road before I'd even make the move. But could be sooner as well.

Downsides seem plenty though. There seem to be a lot of absentee landlords, creating it's own problems because of it, and I'd end up as one of those for awhile.

The other option is to just save the money, and wait until the time came when I knew with 100% certainty I am ready for the move. Look for a place at that time, etc. It makes the most sense. Plus, time changes people, and 15 years, maybe I'd have somewhere else in mind.

The question to ask: Will Lake Mead have water to support Las Vegas? I think not!!! Just do your research.

[yellowsnow]

How sure are you that Vegas is where you want to be?

A good property management company could take care of most of your worries about being an absentee landlord.

[JohnG72]

Save the money and pay all cash when you are ready. Prices in Vegas are not going anywhere for a very long time.

[JonathanLB]

Originally Posted by Superman12

The question to ask: Will Lake Mead have water to support Las Vegas? I think not!!! Just do your research.

Haha yeah ok buddy.

[Tiger Beer]

Originally Posted by JohnG72

Save the money and pay all cash when you are ready. Prices in Vegas are not going anywhere for a very long time.

That's probably true. A lot of inventory.

[Joy333]

Put a pencil to it and find out how much it will cost you over time. Prop management companies are good but 10 - 15 years is a long time to rent your home, I fear it will be worn out by the time you get it. Prices are great right now. Just got back from Vegas and was amazed at how down the values are. No matter what you decide, best of luck.

[Buzz123]

I think that is a great idea if you can do it. Prices will most likely go up. There is no better retirement than a house that's paid for. The problem is finding a good management company. I'm not sure they exist. You want someone that will make sure the renters don't trash the house too much.

[Buzz123]

Do you have to pay U.S. taxes? Even if real estate prices go down, as an income property you should be able to write off any losses.

[Tiger Beer]

Originally Posted by Buzz123

Do you have to pay U.S. taxes? Even if real estate prices go down, as an income property you should be able to write off any losses.

Being an expat abroad, I pay income tax into Japan, but not to the U.S. - as long as my income is under a certain amount, and it is.

In regards to buying property in the U.S., and being able to write off losses...that is interesting. Although, without paying income taxes, I suppose they wouldn't write me a paycheck for losses, as it is probably more of a subtraction from taxes owed? Although I am unsure. Something to look into, for sure.