40 years old, single, paid off all student loans, no debt, currently rent abroad for $300 a month. Got lucky with the apartment, but the owner is now fixing up the building so I expect a rent double in the next year.
Taking 50k and starting a boat business in this area. 40k for the boat, 10k for startup costs and fees. This will run 7 months a year. Hard to say what the boat will gross per year as there is nothing like it in the area. Target are American tourists. I travel during the summers.
Let a friend barrow 60k to not lose his land and hopeful for that to sell this summer.
Can pay cash for a home here for about 150k - 170k, 2b, 2ba, 4 year old construction in a nice Ex-pat community. Property tax is less that .25%, utilities are less than $100 a month, insurance is very cheap. I expect this house to worth more pretty rapidly.
Annual expenses including rent are about $800-$1000 a month.
Not sure the best course of action is because everyone has their own guess on rate of return depending where you park the extra money.
Options considered:
1. Try to lock in the boat and house here for about 200k. Put the 250k in a low risk option seeking 4-5% returns. Live off the business income.
2. Keep renting, parking the 450k into a low risk option seeking 4-5% returns.
Hard for me to make a decision because of the unique parameters when compared to the USA. I like the security of option 1, but the freedom of option 2.