Geomax Should I take out a big loan and then flee to SEA (and never pay back the loan)?

BallaBoy

BallaBoy

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I'd have to get a job first, and perhaps work for a year.

Then get a house loan of like a 200.000€.

Take a flight out to the the Philippines.

Buy a house, live like a king, never look back.

Does my plan have any fallacies?

Also put pics on houses for 100.000€ in the Philippines (I'd save 100.000€ in order to purchase food, car, etc, etc).

Or would I need more money? Like 400.000€ in order to live this lavish life.
 
68_With_Tall_Girl_fetish said:
@itsover took a student loan in the uk and lived in thailand for a few months. Getting a house loan is hard jfl
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How much was u able to get? And how was your lifestyle in Thailand?

Are you paying the money back or did you just steal it?
 
BallaBoy said:
What big loan is there possible to get where I can just take it all out in cash?
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A line of credit or personal loan. Personal lines of credit usually have low limits (well under $100k). Business lines of credit are higher but you need to have a business with large revenues/incomes and credit history. If you were the financial controller of a large organization you might be able to buy a bunch of crypto and move to the Philippines before anyone understands what's going on. Good luck becoming he CFO of a large business though. Once you get to a certain level of wealth you can take out large secured loans which means you need to provide your assets as collateral.

There's no free money glitch for wageslaves. Student loans are the only exception because the government is paying.
 
BallaBoy said:
I'd have to get a job first, and perhaps work for a year.

Then get a house loan of like a 200.000€.

Take a flight out to the the Philippines.

Buy a house, live like a king, never look back.

Does my plan have any fallacies?

Also put pics on houses for 100.000€ in the Philippines (I'd save 100.000€ in order to purchase food, car, etc, etc).

Or would I need more money? Like 400.000€ in order to live this lavish life.
Click to expand...
You can take one of those shark loans. You ever watched squid game? IF you take a huge loan you could run to another country and they probably wont hunt you down. It's hard to transfer large amounts through nations. This is why rich people use crypto to easily bring the money accross. Nobody regulates crypto in phillipines JFL.
 
fatchadlitecel said:
The mortgage loan is held in escrow, you never get full control of the mortgage money like that.
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i was about to say that. you can tell this person has NEVER owned a home with a loan.

like....you think the jews didn't think about your little plan like yours and how to prevent it ?! LOL
 
biggunsar said:
i was about to say that. you can tell this person has NEVER owned a home with a loan.

like....you think the jews didn't think about your little plan like yours and how to prevent it ?! LOL
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I'm not a slave.

So no, I've never taken a loan or rented anything.
 
BallaBoy said:
I'm not a slave.

So no, I've never taken a loan or rented anything.
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well a mortgage is not slavery.

lets see. I can rent and pay double what i pay in mortgage (and if i never plan on buying a house that means im a forever renter)

or i can pay HALF of what someone pays for rent, to pay some jew for his loan and in 20 years aferr the house is paid off. I can turn around and sell that house for whatever it's worth. Getting at least a large portion of my money back

and at any time i want to leave that dwelling i and the jew that own that house. I can simply rent it out for double my mortgage to someone like you. Making money off my "slavery".

how much money you getting back from renting? .......enlighten me
 
biggunsar said:
well a mortgage is not slavery.

lets see. I can rent and pay double what i pay in mortgage (and if i never plan on buying a house that means im a forever renter)

or i can pay HALF of what someone pays for rent, to pay some jew for his loan and in 20 years aferr the house is paid off. I can turn around and sell that house for whatever it's worth. Getting at least a large portion of my money back

and at any time i want to leave that dwelling i and the jew that own that house. I can simply rent it out for double my mortgage to someone like you. Making money off my "slavery".

how much money you getting back from renting? .......enlighten me
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How did you make you build your real estate? Did you buy a bunch of property in the US and rent it out or did you get a bunch of morgages?
 
fatchadlitecel said:
The secret to real estate investing is be born 40+ years ago
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What about investing in emerging economies? How else can you make passive income after you gain some capitol? What do you do with extra savings? Stocks are risky asf right now and in a bubble. I think some countries are not in an real estate bubble rn
 
68_With_Tall_Girl_fetish said:
What about investing in emerging economies? How else can you make passive income after you gain some capitol? What do you do with extra savings? Stocks are risky asf right now and in a bubble. I think some countries are not in an real estate bubble rn
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Most of the time there are restrictions on foreigners buying property in developing countries but there are exceptions.

I remember some libertarian guy on youtube saying that he invested in a small apartment complex in Medellin and rents the properties short term to western coomers on air b&b.
 
fatchadlitecel said:
Most of the time there are restrictions on foreigners buying property in developing countries but there are exceptions.

I remember some libertarian guy on youtube saying that he invested in a small apartment complex in Medellin and rents the properties short term to western coomers on air b&b.
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I like the idea of real estate if you have extra money. Property price can fluctuate but i think rent stays the same. When have you heard about rent going down JFL
If you save up 400k you could easily get 2k a month rental income minus some expenses.
 
68_With_Tall_Girl_fetish said:
I like the idea of real estate if you have extra money. Property price can fluctuate but i think rent stays the same. When have you heard about rent going down JFL
If you save up 400k you could easily get 2k a month rental income minus some expenses.
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Depends how bad shit gets in Canada but my very long term plan would be something similar. Have a building somewhere, collect rent, manage the property, open a laundromat near a hotel or something. Low effort, passive, cash flow.
 
68_With_Tall_Girl_fetish said:
How did you make you build your real estate? Did you buy a bunch of property in the US and rent it out or did you get a bunch of morgages?
Click to expand...
i lived in a tax free country for 20 years. I bought my house, 8 years ago before the boom, built an apartment (paid cash no loan for the apartment build) in the back of my land. I should have gotten one more house. But i missed that boat. for now........if the economy ever crashes, the one thing that never crashes....the need for a place to stay. I will always have income. And when the economy does crash. i will buy more property in the same country.

So now i make while renting both properties about 400 dollars less than working full time. Tax free.

So i can basically go ANYWHERE in the world and live. Very well.

and i pay 250 a month to a property manager, who manages EVERYTHING about my properties, even gets me new renters.

it's nice.

but for those that think you can scrimp by on 1000 USD a month in some foreign country. You better save at least 30K as a float. For emergencies.

With my income i make every month a bit north of 6000 USD a month, tax free.

and even then, sometimes i don't feel it's enough. Depending on what im doing.
 
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biggunsar said:
well a mortgage is not slavery.

lets see. I can rent and pay double what i pay in mortgage (and if i never plan on buying a house that means im a forever renter)

or i can pay HALF of what someone pays for rent, to pay some jew for his loan and in 20 years aferr the house is paid off. I can turn around and sell that house for whatever it's worth. Getting at least a large portion of my money back

and at any time i want to leave that dwelling i and the jew that own that house. I can simply rent it out for double my mortgage to someone like you. Making money off my "slavery".

how much money you getting back from renting? .......enlighten me
Click to expand...
Both renting and taking a mortgage is slavery.

Therefore I do neither, I own ma shit.
 
Horizon55 said:
You don’t own anything in this life
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i certainly do own my house. In the country i own property. You only pay taxes on the house once. At purchase time. After that. no taxes. So that house is MINE. forever. (or until that country changes the laws to apply taxation to homes)
 
biggunsar said:
i certainly do own my house. In the country i own property. You only pay taxes on the house once. At purchase time. After that. no taxes. So that house is MINE. forever. (or until that country changes the laws to apply taxation to homes)
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You think mother earth or god recognizes your "ownership" jfl.

You've been a slave in order to buy a piece of paper that does not matter to divinity.
 
BallaBoy said:
You think mother earth or god recognizes your "ownership" jfl.

You've been a slave in order to buy a piece of paper that does not matter to divinity.
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You only lose that peice of paper if you piss of the goverment A LOT which wont happen. "peice of paper" like fuck off
 
Start a business and run your own money through it to create activity and get a business loan. I’d recommend using some trusts and stuff to give yourself a “plausible” but hilarious story on how you were starting a business and accidentally paid for something. Then flee.

Perhaps you own an electronics resale business, buy used MacBooks off eBay and “loose” the inventory in an accident. 🙈
 
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biggunsar said:
well a mortgage is not slavery.

lets see. I can rent and pay double what i pay in mortgage (and if i never plan on buying a house that means im a forever renter)

or i can pay HALF of what someone pays for rent, to pay some jew for his loan and in 20 years aferr the house is paid off. I can turn around and sell that house for whatever it's worth. Getting at least a large portion of my money back

and at any time i want to leave that dwelling i and the jew that own that house. I can simply rent it out for double my mortgage to someone like you. Making money off my "slavery".

how much money you getting back from renting? .......enlighten me
Click to expand...
I think a lot of stuff matters here like interest rate, the type of house/condo and the economy of the country. For example, in some places houses only depreciate (like Japan). In USA interest rates of 7% are pretty ridiculous and not worth it. A house will obviously have maintenance and repairs etc, which will cost much more than the HOA of a condo.

Then there’s mobility/legal situation. Property can be taken from you pretty easily by a government. Also you are pretty much committing to living somewhere for at least 5 years…

Mortgage can easily be slavery. I think its current position in the US markets 100% is. May as well rent. And if you piss off a 3 letter or get divorced say good bye to your land. Owning a home is a liability in a lot of ways because of the price of maintenance. Renting it out for double is not always an option…

From my perspective 9/10 cases house ownership is a liability as long as it’s not being rented out to someone for positive cashflow. Anyway what are your thoughts on my analysis.
 
BallaBoy said:
I'd have to get a job first, and perhaps work for a year.

Then get a house loan of like a 200.000€.

Take a flight out to the the Philippines.

Buy a house, live like a king, never look back.

Does my plan have any fallacies?

Also put pics on houses for 100.000€ in the Philippines (I'd save 100.000€ in order to purchase food, car, etc, etc).

Or would I need more money? Like 400.000€ in order to live this lavish life.
Click to expand...
You might not get a loan

Just get money legit like most people here
 
Ancient thread but it's not worth it even in principle bro. Is cutting off your access to credit lines in Western countries worth $50k or whatever 5-figure amount of cash you could scrounge from running away with credited funds?

We sometimes saw guys in Kabukicho who thought they made pay day because they ran away with $500 in debt they spent on coke and prostitutes. It may sound like a ridiculous analogy and it probably is, but you've just lost all your trust, all your credit, and all your access to everyone in the industry who could help you.
 
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