2020Vision
Confused about dryer sheets
- Joined
- Mar 14, 2015
- Messages
- 8
I came to America for college back in '99 and totally integrated. In 5 years DW and I will be ready to FIRE. Now comes the interesting problem. Should we return to Kenya where we have family and lower cost of living or should we stay put here in Northern Virginia where we have friends and the standard of living is quite high. Here are the facts:
First, the numbers:
Net worth: 1.2M
Mortgages: 2 houses in US on 15 year mortgages balance of 700K
No other debts.
In Kenya we own a beach front condo in Mombasa suburbs, a condo in Nairobi, an undeveloped real estate in a commercial area and 20 acres of farmland. The condos currently generate rental income of 3K per month.
If we relocate to Kenya, plan is to sell bigger house in VA and use proceeds(500K) to develop the commercial real estate. This would generate about 60K net profit per year with potential of more. But there is also high risks involved due to nature of doing business in Kenya. We would also be able to do some farming on the 20 acres.
If we stay put in VA, we would spend some of our retirement money(500K) to develop the commercial real estate while renting out the other properties in Kenya.
DS(only child) goes off to college in 2019 either to University of Cape Town( 5K per year) or to state university in VA. If we relocate back to old country his mum wants him closer at UCT.
So here's our dilemma. We love it here and our son's future belongs here. But on the flip side, we still have family in Kenya and there are amazing business opportunities here although the risks are equally high. What would you do?
First, the numbers:
Net worth: 1.2M
Mortgages: 2 houses in US on 15 year mortgages balance of 700K
No other debts.
In Kenya we own a beach front condo in Mombasa suburbs, a condo in Nairobi, an undeveloped real estate in a commercial area and 20 acres of farmland. The condos currently generate rental income of 3K per month.
If we relocate to Kenya, plan is to sell bigger house in VA and use proceeds(500K) to develop the commercial real estate. This would generate about 60K net profit per year with potential of more. But there is also high risks involved due to nature of doing business in Kenya. We would also be able to do some farming on the 20 acres.
If we stay put in VA, we would spend some of our retirement money(500K) to develop the commercial real estate while renting out the other properties in Kenya.
DS(only child) goes off to college in 2019 either to University of Cape Town( 5K per year) or to state university in VA. If we relocate back to old country his mum wants him closer at UCT.
So here's our dilemma. We love it here and our son's future belongs here. But on the flip side, we still have family in Kenya and there are amazing business opportunities here although the risks are equally high. What would you do?
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