Random Chat, Thoughts, Posts, and/or Rants Thread

[Mathuin]

I've gone sour on property as a potential investment.

Legalised scamming like MJ said in that thread from a while back (for the tenant laws crap)

 

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[runnaboi]

Yet another reason why you need a Jet!

A Falcon 10X... if you can wait till 2025!

 

[Raja]

That sucks man.
Don't consider Australia then, it's even worse.

You can't kick people out if they don't pay rent and you have to foot the bill.

I've gone sour on property as a potential investment.

Is this post covid or pre covid?

I need to make a full thread on this but I am very close to pulling my whole business out of Ireland.

There are many things driving me nuts but the worst is how terrible the banks are...

- I am limited to property loans that are x3.5 of my personal income (they don't consider my business)
- To pay myself personally is not fun - if I pay myself 6k a month 2k of that is gone in taxes
- Even with the 4k left per month you then have 48k a year which is a property loan of 168k euros
- 168k euros in Ireland gets you hardly anything and even then if you did find a place to rent the taxes / loan on that are also awful so its not that appealing
- PLUS tenant laws suck, someone can move in, stop paying rent right away, and its like 2 years to get them out

So to buy a rental property of 160k you would have had to pay 48k in taxes over two years to even get started with the loan. Plus then the banks are still slow and might still not approve your loan.

The end result of all this BS is I got no real way to invest my money in Ireland as a country. And since I am nomadic I just don't see why I should keep paying taxes as opposed to setting up someplace else.

And... taxes are very likely going up when the next budget hits.

----

If I was a bus driver though with a steady job and had a wife who worked at a post office I could probably get a 500k loan no bother. The whole system is stacked to get people with lifetime 9-5s into the biggest loan possible. If you own your own business, want to focus on investment property and are single then you are bottom of the list.

Don't consider India either, you would have an negetive ROI.
Here it is cheaper to rent than to buy

 

[Fox]

Is this post covid or pre covid?

Don't consider India either, you would have an negetive ROI.
Here it is cheaper to rent than to buy

It’s both before and after.

I want to help support my home country but it keeps getting harder.

- They were in top 3 worst countries to handle the lockdown. My parents suffered, the government had the worst response ever, and it’s still tough to even come back and visit.

- Taxes are insanely high. I used to not care as much cause I would keep my cash in the business but that’s becoming harder and harder.

- The banks are a joke. I’ve been waiting two months for a simple reply on some basic mortgage paperwork. Why? Who knows.

Overall I’m paying tons of taxes to try get into a rigged game (the Irish rental market) and having to work with terrible banks to do so.

I’m sure there is another country out there who be happy to work with me.

 

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[WillHurtDontCare]

mainstream news exists to demoralize you - never listen to it

 

[Raja]

mainstream news exists to demoralize you - never listen to it

View attachment 38292

It's actually true, for slowlaners.

 

[WillHurtDontCare]

It's actually true, for slowlaners.

indeed - fastlane or bust

 

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[WillHurtDontCare]

beer and donut companies care about your health

 

[Madame Peccato]

I'll buy my own beer thank you very much

 

[Deleted78083]

I need to make a full thread on this but I am very close to pulling my whole business out of Ireland.

There are many things driving me nuts but the worst is how terrible the banks are...

- I am limited to property loans that are x3.5 of my personal income (they don't consider my business)
- To pay myself personally is not fun - if I pay myself 6k a month 2k of that is gone in taxes
- Even with the 4k left per month you then have 48k a year which is a property loan of 168k euros
- 168k euros in Ireland gets you hardly anything and even then if you did find a place to rent the taxes / loan on that are also awful so its not that appealing
- PLUS tenant laws suck, someone can move in, stop paying rent right away, and its like 2 years to get them out

So to buy a rental property of 160k you would have had to pay 48k in taxes over two years to even get started with the loan. Plus then the banks are still slow and might still not approve your loan.

The end result of all this BS is I got no real way to invest my money in Ireland as a country. And since I am nomadic I just don't see why I should keep paying taxes as opposed to setting up someplace else.

And... taxes are very likely going up when the next budget hits.

----

If I was a bus driver though with a steady job and had a wife who worked at a post office I could probably get a 500k loan no bother. The whole system is stacked to get people with lifetime 9-5s into the biggest loan possible. If you own your own business, want to focus on investment property and are single then you are bottom of the list.

Several points:

1. I thought Ireland was fine for taxes? Why is everyone going there? (GAFAM, etc)
2. Have you checked moving your business to Estonia? I have studied this option very closely, it is tailored to online businesses.
3. If you're looking to shift your tax residency, I strongly recommend Bulgaria. You can become tax resident there if you buy a piece of real estate, which will cost you about 10k in Sunny Beach or Bansko (probably are many other places). Company taxes are 10%, personal taxes are 5%, and no tax on capital gains.

The scheme I studied was to establish your tax residency in Bulgaria and your company in Estonia. There is an agreement between them both, saying that your company will have to pay taxes where the main shareholder has his tax residency, which is...Bulgaria, at Bulgarian rate.

So you basically get free handling by the Estonian government and pay low taxes in Bulgaria.

You could move to places to pay zero taxes (Andorra, or playing with the Cyprus-Malta rules) but I am not one to believe you should pay 0%.

I just think you shouldn't pay more than 25.

Also it'd be cool if you made a thread

mainstream news exists to demoralize you - never listen to it

View attachment 38292

IMO in a healthy society, slowlaners shouldn't have to invest in the stock market to survive.

My grandparents stashed cash under their matresse.

beer and donut companies care about your health

View attachment 38293

Please dude i work so hard to avoid mainstream news lol

 

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[WillHurtDontCare]

A close friend of mine told that his dad told him (paraphrasing): 'I made a lot of dumb decisions in my life, and I don't regret any of them.'

I consider this an ideal way to live. Cheers to him.

 

[Kak]

Italian artist sells ‘invisible’ sculpture for more than £12,000

The sculpture doesn’t physically exist, artist claims, ‘it’s in the mind of the creator’

www.google.com

 

[Madame Peccato]

Tell me you're Italian without saying it:

"I sold nothing for $18.000"

 

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[ProcessPro]

Italian artist sells ‘invisible’ sculpture for more than £12,000

The sculpture doesn’t physically exist, artist claims, ‘it’s in the mind of the creator’

www.google.com

WTF...

Now I know my next business idea...

 

[Mathuin]

Forget Fastlane Monogamy, you need 5000 + Income Streams!

 

[Kid]

It seems that Boeing Dreamliner (

) landed at my youtube account.

P.S That's how many new videos i have not watched.

 

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[ProcessPro]

WTF...

Now I know my next business idea...

@Kak The definition of a 'scam artist'.

 

[Kak]

@Kak The definition of a 'scam artist'.

I bet he laughs about it with his private circle of people.

I know a guy that spends millions on art. Art buyers are really weird. I could honestly see him buying it.

 

[socaldude]

Anybody used to be into Pokémon back in the day?

I totally forgot I had my Pokémon card collection stashed away. I even have a few very valuable and rare ones. It starting to get popular again.

 

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[Timmy C]

An accurate and funny representation of the property market here.

https://twitter.com/i/web/status/1395332438474190852

View: https://twitter.com/markhumphries/status/1395332438474190852?s=19

 

[Kak]

https://twitter.com/i/web/status/1401524217833832449

View: https://twitter.com/killbiggerradio/status/1401524217833832449?s=21

 

[Anon3114]

As I am just learning English, I am not in the habit of writing a thread in one go.

Do any of you have the same, and how do you write sketches of your threads that are not yet ready for publication on the forum?

 

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[Rabby]

This is horrifying... look at the video of a flyover linked in the comments: Oceana Finds Hundreds of Vessels Vanishing Along Argentina’s Waters | Hacker News

Imagine feeding overpopulated cities of people who can't produce the food they consume by pillaging other countries and cutting swaths of permanents destruction through the oceans. What a model.

 

[Raja]

 

[WillHurtDontCare]

https://twitter.com/i/web/status/1375191284801925121

View: https://twitter.com/coltybrah/status/1375191284801925121

 

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[WillHurtDontCare]

uh, that doesn't sound good

 

[Timmy C]

And they wonder why people won't take the vaccine.
The vaccine could be perfectly fine, but no one trusts the government and how could you blame them.

https://twitter.com/i/web/status/1401670033231781891

View: https://twitter.com/AlexBerenson/status/1401670033231781891

 

[Daniel A]

"The answer to the meaning of life is become one..."

View: https://youtu.be/FIseFqFv7Uc

 

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[Raja]

Now that I am taking real action, it's becoming more clear to me that someone said in the thread

Business is easy, what's hard is mental struggles

 

[runnaboi]

"He whose life has a why can bear almost any how." - Friedrich Nietzsche