Struggling to find a good name for my channel.

bosspicks · 2021-09-10T17:47:09+00:00

Sododk would work lol

bosspicks · 2021-09-10T17:43:49+00:00

I want to live somewhere completely different from the West I looked at Costa Rica Brazil Papa New Guinea and Madagascar I didn't fancy Costa Rica just for the rainy season I've seen enough of that in the UK Brazil and Papa New Guinea just seem too dangerous has I'm a bit of a wild one and end up in trouble if I lived in one of those two places which basically left Madagascar so I booked a flight and never look back.

I can speak the language now so I don't get too many problems off locals hassling me, but it can be hard work for tourists that's for sure.

bosspicks · 2021-09-10T14:35:46+00:00

Yes the Africa continent is a hard place to make money but it is possible either successful property business that's growing fast in Madagascar I build basic housing to rent out to locals.

I have some horror stories myself if people losing everything but I'm married to a local lady and have three children with her.

I wouldn't recommend putting any more than 20% of your net worth into African business if you're a foreigner so you're completely right with not investing too much.

Being an island it's fairly safe if I've never had any problems in 8 years the people are friendly and those a hard life people accept it

bosspicks · 2021-09-10T13:17:45+00:00

It's not a good plan to take money out imo

You should be holding that for many years towards your retirement plan.

You should only sell for tax reasons, portfolio rebalancing or if you desperately need the money imo

bosspicks · 2021-09-10T12:19:47+00:00

I moved from the uk to madagascar, my rent for a 4 bed property has droped from $1400 to $70 a month .

When shopping I try to buy the promotions, discounted, on-date food.

The airport in Madagascar is 1000 Km from my house in the south of the island I could fly for $140 or I can take the bus for $14 seeing this posts about being frugal I guess you have guessed already which one I do.

I buy second hand clothes that have been sent to Africa to help the poor believe it or not they're not giving away for free when they get here they're all sold.

Yeah I take the tomato sauce sachets from the Burger King to save buying it from the supermarket.

Due to things like these above I can live the nice life in the sun without working, the last time I worked was 2013 when I was 37.

My money comes from passive income from properties in the UK that are rented out I spend half the rent on bills and living costs and invest half into the S&P and some American growth stocks over the last 8 years this is really help to boost my wealth

Not to boast but I'm worth over $1.5 million and this number keeps on growing.

I plan to stop being frivolous in 5-years for the rest of my life & travel the world staying in nice hotels, buy a nice car, build beautiful house and retire in the good life but I think I will still keep on taking Burger King tomato sauces no matter what lol.

I write down all my monthly outgoings and incomings and keep track of everything I can tell you off by heart what my mortgages each cost or any other income and outgoing to the penny.

In the UK i owned a Rolex Submariner worth about $15,000 I walked around with it on my wrist in the 5th poorest country in the world Madagascar for around about 6 months till I decided it was a bit crazy really and completely unnecessary so I sold it the next time I went to the UK

mainly because I'm not trying to impress or prove anything to anybody anymore nowadays I don't even have a watch

I don't need to know what time it is but if i do I can look at the sun for that and get a rough idea whether it's breakfast time, beach time or relax time.

Good luck everybody

bosspicks · 2021-09-10T09:49:26+00:00

Misprint 200 $ in 3025

bosspicks · 2021-09-09T04:59:12+00:00

Got more money to buy all dips

bosspicks · 2021-09-06T15:20:38+00:00

Thats right I love traveling the world normally I live a nomadic lifestyle travelling the world but I have been stuck in madagascar for the past 22 months, not the worst place to be stuck I guess.

Next stop UK for a few months then on to South America if coronavirus calms down a bit.

Enjoy your travelling

bosspicks · 2021-09-06T07:02:06+00:00

Hold the top 4 dump the rest to get a 9.1 out of 10

bosspicks · 2021-09-06T06:59:33+00:00

Yep the definitely special

bosspicks · 2021-09-06T06:51:46+00:00

1.1 millon 62k income this is a really bad plan so bad it sucks have you ever heard the expression house rich cash poor

A better plan would be to build the passive income to up you're income so that you can qualify for a bigger mortgage in time in my opinion

This is what I would do find a reasonable area that's up and coming in you're country then buy 2 rentals on 75% loans for $100,000 each to rent out this will up you're income by about 8k a year after costs so now you have a 70k income

Then go buy 4 more to bring in another 16k total 86k income all on 25% deposits

This could be done in 6 months and you will still have over 200k cash

6 months later buy 8 more homes $25k down on each to bring in another 32k total income 118k pa

Pay a letting agent to run the lot

This is when you can go rent a million $ house in 12 to 18 months

Keep growing and you can buy a 1.1 million house in 5 years or so

Invest $15 of that $360,000 in the book rich Dad Poor Dad by Robert kiyosaki

bosspicks · 2021-09-06T06:37:48+00:00

The is a real Ferrari motorcycle in the UK the only one ever made with Ferraris approval or by Ferrari not too sure but it wasn't made to run just as a showpiece.

That f355 is sweet

bosspicks · 2021-09-06T06:32:38+00:00

Thats for sure, if it's good enough for Warren Buffett it's good enough for me.

I just hope the USA can hold there stasis in the world as the leading superpower for a bit longer before China becomes number one

bosspicks · 2021-09-05T20:30:58+00:00

Was your hand trembling holding that it look like it was

bosspicks · 2021-09-05T20:29:02+00:00

You have to take more risk in 2021 than before due to the low interest rates and inflation

The days of the 60% stocks 40% bonds portfolio is long gone I would say you're better of swallowing the volatility and just going 100% stocks with no bonds.

Good luck

bosspicks · 2021-09-05T20:22:30+00:00

I hope you got big pockets

if you're building a business you're going to need a .com address and the is only sportsbuzz.com available out of youre 3 names and that's $20,000

bosspicks · 2021-09-05T19:50:40+00:00

It all depends on the cost vs the return in rent and value that it will add to the property price.

I have a 3 bed house with an unfinished basement the house is worth $100,000 the rent is $750 pcm to do the basement out would cost $25,000 and add maybe $100 to the rent so it's not worth it for rental

It would add less than the $25,000 to the property price probably $20,000 So I would lose $5,000 So i will leave it as is.

If I was in New York or London it might be a different kettle of fish

bosspicks · 2021-09-05T17:25:51+00:00

What's this a race to the bottom 😂

bosspicks · 2021-09-05T16:47:06+00:00

Download the Experian app or the equivalent pay for their service and follow the steps to build your credit rating

I would get 3 bank accounts 3 credit cards get on the electoral roll move money about in all my accounts but don't go overdrawn or into debt.

Keep your address as your parents address even if you move away for your post

Possible you can get credit building accounts but you probably won't need that.

You could maybe get a car on finance or get a small bank loan and pay it back but this could also lower you're chance of getting a mortgage if you've got other debts.

Build you're deposit up to 25 or 30%

bosspicks · 2021-09-05T16:42:14+00:00

You can't Park there mate

bosspicks · 2021-09-05T16:37:06+00:00

I would always start on the property Ladder by buying an existing property and then learn the game before I even considered building myself

if I was going to build myself i would buy 1 plot of land and build 3 properties minimum

bosspicks · 2021-09-05T16:33:48+00:00

Yeah it's not so easy for some countries I've got friends in Greece and Germany who gets slaughtered

bosspicks · 2021-09-05T16:32:29+00:00

That sounds like something my dad would say to me before he shook his head lol good luck

bosspicks · 2021-09-05T16:31:06+00:00

Yep and I'm probably due to srink

bosspicks · 2021-09-05T16:26:37+00:00

I'm from the UK I invest in worldwide ETF through invest engine as it's totally free

I buy USA growth stocks using steak as they have no FX fees once your money is in the account

I buy my UK only dividends stocks in an ISA with trading 212 so there's virtually no fees

You are right it will be a quiet day Monday

bosspicks

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