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Expatriation and Repatriation

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sundaymorningstaple
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Re: Expatriation and Repatriation

Postby sundaymorningstaple » Thu, 10 Mar 2016 12:40 am

If I were to stay on the farm I'd probably be okay, but it's the farm and it's not 'home' as it were as I've never lived on that one. I bought it in 72 when I was a tax accountant in DC after getting wiped out of business in Lock Haven, PA by Hurricane Agnes. I put the farm in my mother's name and filed for bankruptcy in 73. The farm is still in her name and it's going to cost me some beans if it doesn't pan out they way it's supposed to. (huge gamble) but I didn't want to lose it as I couldn't turn down the offer. 284K in 72 but valued today at around 4M (202 acres, 70 tillable, 2.5 homestead with main house, 3 guest houses, workshop and barn and over half a mile of deepwater waterfront.) It might be lower now some more due to the US's problems. Peak tax assessment was at 6M about 10 years ago. That if I keep it whole. Should I subdivide it it's worth even more. But I'm not about that. I've always leased out the tillable acreage and the duck/goose & deer hunting rights and that alone has paid for the mortgage and repairs & maintenance including all the repairs needed after hurricane Isabelle. But I know damned few people there any more and it a damned pretentious lot to boot!

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Re: Expatriation and Repatriation

Postby JR8 » Thu, 10 Mar 2016 2:40 am

Wow! Nice piece of land there... WOW. So, so.... what on earth are you still doing in SG?
Great it's self-financing in your absence, certainly makes that side of things less uncertain.
Have you looked at development options, i.e. what is potentially possible even if you have zero intention to do any yourself? Just so you're aware of all the cards in your deck as such...

[day-dreaming] SMS golf club, casino and resort... hey, you could run for President one day ;; [/d-d]
'Do it or do not do it: You will regret both' - Kierkegaard

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Re: Expatriation and Repatriation

Postby nakatago » Thu, 10 Mar 2016 6:39 am

SMS2020: Let's make America great all over again
SMS2020: Damn noisy kids, get off my lawn
SMS2020: I got nothing better to do, so why not?
SMS2020: I'm tired of these motherf------ snakes on this motherf------ plain*

*not a misspelling

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x9200
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Re: Expatriation and Repatriation

Postby x9200 » Thu, 10 Mar 2016 6:52 am

sundaymorningstaple wrote:202 acres, 70 tillable, 2.5 homestead with main house, 3 guest houses, workshop and barn and over half a mile of deepwater waterfront.

*sigh*

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sundaymorningstaple
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Re: Expatriation and Repatriation

Postby sundaymorningstaple » Thu, 10 Mar 2016 9:15 am

I've posted about the farm on here a number of years ago. I'm cash poor. I could sell it but I want to die there. I don't know if anybody can understand that. Singapore is Singapore. While my flat here is paid for, it's just an accommodation and not a home (at least in my mind - for the rest of the family it's different) I'm still here because of moral obligations. I have to work to put bread on the table. Sure, I could sub-divide and say keep only the homestead, but then I end up with neighbours within shouting distance. Additionally, once sub divided, the wildlife refuge would disappear and because it's one of the last farms not broken up that way and at the end of the road, all the wildlife moved into the area. After living in a pigeon coop for 33 years, I sure don't want to retire in the same situation (well, not exactly, I know). As I'm cash poor, that farm is my kids inheritance to do with as they choose after I'm gone. As far as my retirement is concerned, my boss wants me to stay on here until I'm 75. A lot of you know me and know that me doing 75 would probably not be a problem and that's the way I'm looking at it. Dad's side of the family usually runs mid 80's and mom's side of the family look at early 90's historically (except her mother's husbands who had problems with black lung disease (coal miners in W.VA). So I reckon I still have a few years to go even at 75. And my boss has made it "worth my while" to stay with a very nice paid up at 75 endowment policy shaped as a keyman Ins policy but it is in my name and signed over to company as beneficiary until my 75 birthday when ownership reverts back to me to do with as I see fit (fully paid up at 75). So, I'm actually looking at only 6.5 more years. Yeah, and my MiL is still living with me - there's that problem as well.

Before hurricane Isabel
Image

Immediately following Isabel
http://i188.photobucket.com/albums/z77/ ... 02-015.jpg
Mom's had to live in that FEMA trailer for 6 months after Isabel before the house was habitable again. My son & I went back in the winter after Isabel to clear out the guest houses and all three of use stayed in that trailer for a month.
http://i188.photobucket.com/albums/z77/ ... 02-017.jpg
http://i188.photobucket.com/albums/z77/ ... 02-004.jpg

Post repairs and reinforcement of the river frontage during the two years following Isabel
Image
http://i188.photobucket.com/albums/z77/ ... y07_01.jpg
http://i188.photobucket.com/albums/z77/ ... y07_05.jpg

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x9200
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Re: Expatriation and Repatriation

Postby x9200 » Thu, 10 Mar 2016 3:10 pm

Oh, I can perfectly understand you, I am (in principle) a city boy but always have taken every opportunity to spend time in a forest or lake sides. This would definitely be my best retirement, or even living dream. Unfortunately not of my wife.

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Re: Expatriation and Repatriation

Postby sundaymorningstaple » Thu, 10 Mar 2016 5:17 pm

My wife has been ready to go since 1986 when I took her there the first time. She's a kampong girl from the ulu part of Singapore known as Seletar. She lived in the camp for 50 years until I bought the flat in 1999. She fell in love with the place (who wouldn't - except as you say, the die-hard city-slicker. But we are all my MiL has now and we are not about to abandon her to a home (although at times we are sorely tempted) as she's pretty senile now and cannot hardly walk amount the least of her problems. But what to do? A promise is a promise the way I was raised.

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Re: Expatriation and Repatriation

Postby Brah » Fri, 18 Mar 2016 8:59 pm

I like this timely thread. especially what Mi Amigo had to say and JR8's replies to that.

I am trying to do something similar but different - return to the home country, but not to the home state, and most likely, to a place I've never even visited.

I would visit beforehand but not until work has been first secured or looks to be, as costs, time, and logistics would be too much to do more than once.

I mentioned before Pico Iyer's Global Soul from about 15 years ago; not his best work but he was early to exploit the theme.

There are 3 kinds of places - where both you and yours are from; where you are from but yours isn't, or vice-versa; where neither of you are from. That's from me not Iyer.

Singapore is the latter. I doubt I'm up for any more variations on the latter.
Ape Shall Not Kill Ape.


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