I am posting this in both logs, pass it on to anyone who might bite!
How to Retire in Armenia today, for $70,000
Are you ready for retirement? Can you sell everything you own and scrape together $70,000 USD? In that case, you are ready. It is very simple really. You just buy yourself a nice furnished one bedroom apartment in central Yerevan for $30,000 to live in yourself, and buy two more studio/small one bedroom apartments for $20,000 each which you can rent out for $150 to $200 each per month. Since your living expenses in Armenia are only about $250 a month, this is more than sufficient to live off of.
Afraid of inflation? Don't be, if prices go up in Armenia, so will rents, and so your income will be secure. Plus, with two units, if one isn't rented out, you still have a good income from the other. You never have a mortgage to begin with so you can never have a negative cash flow. There are many variations to this plan, and prices of course change. You could have accomplished all this for half the money in 2001.
Variations to consider.
-You can also buy a nice summer house (dacha) for 2 or 3 thousand dollars. If you move there in the summer, and rent out your apartment in the peak summer months, whether by the month, or by the night (higher yield), you can earn a tidy extra sum.
-Alternatively, you can just retire in the countryside and only buy the two units in Yerevan to rent out. This means you can retire for $43,000 and believe me, you will never be able to spend all your income from the rentals living in a village. Monthly expenses in the village would be well under $100.
-You can also of course buy more than two units to rent out, the more the merrier, right?
There is nothing to this, it is a very simple, foolproof plan. Anybody can do it.
How to Retire in Armenia today, for $70,000
Are you ready for retirement? Can you sell everything you own and scrape together $70,000 USD? In that case, you are ready. It is very simple really. You just buy yourself a nice furnished one bedroom apartment in central Yerevan for $30,000 to live in yourself, and buy two more studio/small one bedroom apartments for $20,000 each which you can rent out for $150 to $200 each per month. Since your living expenses in Armenia are only about $250 a month, this is more than sufficient to live off of.
Afraid of inflation? Don't be, if prices go up in Armenia, so will rents, and so your income will be secure. Plus, with two units, if one isn't rented out, you still have a good income from the other. You never have a mortgage to begin with so you can never have a negative cash flow. There are many variations to this plan, and prices of course change. You could have accomplished all this for half the money in 2001.
Variations to consider.
-You can also buy a nice summer house (dacha) for 2 or 3 thousand dollars. If you move there in the summer, and rent out your apartment in the peak summer months, whether by the month, or by the night (higher yield), you can earn a tidy extra sum.
-Alternatively, you can just retire in the countryside and only buy the two units in Yerevan to rent out. This means you can retire for $43,000 and believe me, you will never be able to spend all your income from the rentals living in a village. Monthly expenses in the village would be well under $100.
-You can also of course buy more than two units to rent out, the more the merrier, right?
There is nothing to this, it is a very simple, foolproof plan. Anybody can do it.
posted by Raffi K. at 5:35 AM
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