Rental property as retirement?

[Semiretired2008]

Many of ya'll mentioned the 2% rule. In our area rentals are operating more off of 1% since the competition is so great - at least with SF homes. I can see a return of 2% on Multi's, but never on SF homes

 

[globaltraveller1205]

what am i doing wrong?

Great advice and forum feedback comments
Im ER since 6 yrs ago.Got a small portfolio of 9 units,mostly condos in different countries.Agent therefore essential to save time and hassle.One beef is the fx charges and occasional tenancy void,but generally happy.No mortgages.Live well means in low tax jurisdiction and so invest/save half income in contingency funds,plus for taxes,insurances,holiday fund etc.
No hands -on gives me plenty of free time.Any good ideas out there?

 

[nun]

.Live well means in low tax jurisdiction and so invest/save half income in contingency funds,plus for taxes,insurances,holiday fund etc.
No hands -on gives me plenty of free time.Any good ideas out there?

I assume you are not a US citizen, as there is no "low tax jurisdiction" for them.

 

[globaltraveller1205]

Ur right,land of the not- so -free comes at a very high cost!

Nothing to say you must remain there tho.

I used to live in hi tax country and got out thankfully;no regrets.

Taxation is the single biggest direct cost anybody has,bar none.

 

[globaltraveller1205]

That means that its the single most powerful thing which negates most people reaching their ER goals.

The solution is multi -faceted,but could go something like this:
1.Start with taking some USD to an overseas bank,in a low/no tax country eg.Singapore.
2.Repeat step one,until its possible to buy a pied a terre outside the US.
3.Repeat step 2,but this time let it out to get income
4.Repeat step 3...