I Sold My House in China...

Halon when is this allo 86-year was another video and why the hell am i standing here in China well it's because I'm back and I'm gonna tell you why so a lot of you might know that I did own an apartment in China and actually made a video about it why I regretted buying property in China and if you haven't seen it let me quickly run you through why I bought it because I was getting married to a Chinese woman and it's kind of a stipulation that a man in China especially in Guangdong in this traditional province hear that a man owns a house so scraped up my savings everything that I had and at the time you know I wasn't a rich man I had like 150 thousand dollars to throw at this apartment it's about 80 square meters and it was okay this is in a downtown area it was really hopin vibey area but I didn't have any kids at the time or anything and after I dumped all my money into it it turns out that I couldn't put my name as a foreigner on the lease or on the mortgage so basically my wife had to you know carry the entire apartment in her name now before it sounds like she was scamming me she actually didn't want to do this this is just it was just so difficult for a foreigner to be able to do that so do a long story short a couple years later we noticed that there's cracks all over the wall the foundation the cement everything that they put it together with was shoddy life I decided if I'm gonna buy an affordable property it better be a new one right in my mind I thought well Chinese quality buildings are pretty bad so if I buy a new one I'll be better off now so basically after I bought the property I had spent all my money is kind of a dowry to uh you know kind of win my wife's family over and despite it being new I know it's very quickly that there were cracks developing is this fun there are cracks developing all across the walls all the tiles were uneven stuff was already rusting and falling apart and that's the problem with things in China is that they're built in a rush because of this messing housing boom slash housing bubble that's kind of impending to pop right so I was stuck in this situation where I was in this really horrible flat and because of it want people in China to be flipping houses left and right to make the bubble worse you have to wait about five years before you can sell it so I just sold it now I'm here without my family they're back in America waiting for me because I had to deal with a lot of paperwork vivy was able to sort most of it out but now I'm in the process of actually getting the money out of my bank account getting the money into Hong Kong and then getting it over to America where I'll be able to use it and it's really really frustrating I've been running into so many issues because it's so difficult for a foreigner to really do anything that requires money transfers buying property buying cars registration all this kind of stuff that requires documentation foreigners not really allowed to do it per se even if it's in the law the reality of the situation is that it's very very difficult to do things long story short I ended up did I found a buyer they bought it with a lot of stipulations they were angry because some of the furniture was missing because some of my family had taken it away even though that was not part of the agreement the agreement was that they'd just get the flat with nothing in it but they're all mad and they demanded money off for that so we've been arguing about that and the amount of money that I'm allowed to bring out of China it is ridiculous it's very very stifled the amount of money you can actually take out in terms of transfers and stuff you lose a ton of money on international transfers so the best idea is to go to Hong Kong problem is in Hong Kong because there's so much capital flight from China and Chinese people mainland Chinese people opening banks it's really difficult to get a bank account as a foreigner now so there's that issue so getting money outs obviously an issue and all this kind of rigmarole that you have to go through but another thing that I have to deal with is the fact that a lot of these paperwork needs to be signed by my wife which I said already had completed that but a lot of it you know new papers started showing up so now we're dealing with that and it's difficult for just me as a foreigner to be able to deal with that kind of stuff and anyway all in all I did sell that flat that so many people have you made fun of me for buying you guys can understand the cultural situation significance of you know getting married in China it wasn't that her parents or her family or my wife you know wanted anything from me it's just part of the cultural arrangement of getting married and I can't understand that like a lot of backpacker types like I used to be don't have a lot they want to make sure that their daughter or son is getting into a relationship where it's financially stable so I kind of understand the logic and reasoning behind that but by and large it's been a huge pain in the ass but some good news so the good news is that I'm beginning another adventure and I wanted to mention something that I feel like me and Winston don't mention often enough and that is we have a completely different channel and that channel is called a TV China a lot of you are probably already subscribed to that but you guys want to know what we do there we basically ride around China usually but we talk about the more you know societal issues or culturally sensitive issues that most people you know wouldn't put their face on camera for we ride around the countryside cities and all kinds of stuff and have adventures basically but so the reason it's special is because well number one it's grown exponentially it's crazy how many fans we have on there now but one of the reasons that's such a good channel is it it's opened up a whole wealth of opportunities to us so for example we just finished a big long tour of Taiwan which was freaking awesome those videos are super good and also we're going to Vietnam I'm actually headed there right now so when it comes to things like cultural comparison we talked about um you know that's the big streaming boom in China Bank restrictions issues that China's having with the rest of the world just so many so many amazing topics we actually toured some ghost towns where the buildings are just basically crumbling and falling down because of this housing boom I was talking about we go into depth about a lot of these things whereas my channel now 86 is more of a personal thing me my family the the thing is I'm personally going through if you like a talk show format it's amazing because basically we created I think we invented this to intercoms on the helmets where we can talk to each other and at the same time we bake there's some cows cows Manning we can talk to each other and film at the same time and commentate on what we're seeing as we're discussing the topic so it's a it's an amazing channel it's my favorite thing to do is film a to be China so again if you guys haven't checked it I definitely go over there um it's obviously a plug for us but I think that you guys would really enjoy the content if you haven't already anyway we're headed to Vietnam we're gonna do a lot of comparisons because of one specific reason our friends that have companies in China Chinese and foreign alike are moving their companies to Vietnam we think that's really really fascinating because they're just going from one communist country to another but there's a very very specific reason that they're doing this and that's just because foreign investment in China is taking a dip because of all these regulations and restrictions that China is putting on these companies and it's really hurting them so we're gonna go to or the you know areas where they're moving to and basically ride around and have a new adventure in a completely different place and the like I said the wonderful thing about ATB Chinese we have the opportunity to go out all these crazy amazing countries and we're gonna be going to a lot of different places we have a lot on the plate we're gonna go to India you know Brazil Thailand Russia which I'm particularly looking forward to Mongolia Japan South Korea not North Korea yet a lot of different cool places and we're gonna have an amazing time but we're about to fly out there we're gonna be spending quite a bit of time there I'm going to miss my family very dearly I almost cried earlier because when I was flying out here to China my daughter heard you know I used to take these trips before but she didn't understand the idea concept of going very far away for a long time and it's sorry it's that it's one of those things because now she's almost three so she can kind of understand [Music] he didn't even jump that time and when she heard that I was going on in the airplane she said Bob I don't want you to go far away in an airplane and she was just bawling her eyes out and I was like devastated one good thing is that you know the whole advent of video chat and technology and stuff is made that's so much easier to stay in touch with my family so that's kind of nice but it is hard it is really hard especially when you're super jet-lagged but yeah anyway these these adventures that are coming up this is like a new era for all three of our channels and I'm super excited to do it we're gonna I'm gonna film some lousy six videos there as well but yeah expect a lot of a TV contents out of Vietnam and we basically go every other week so every Monday at 1 p.m. est we do an on the bikes which means that we're riding the motorcycles and having that talk show format and then every other Monday at 1 p.m. est we also do an ATV China episode but that's off the bike so we walk around with the camera in the streets so that's kind of the format of the show it's super cool hope you guys love it hope you guys love the content coming up a lot of new Loudy six videos coming up some in America some one Vietnam some in China but I hope you guys look forward to this new era of all the channels it's gonna be super cool hey just like that I'm in Vietnam well what a surprise so like I said when sand I are a huge adventure go through Vietnam on motorcycles we just got our bikes disappointingly enough they are awful but what's new we always ride on crap when we go abroad I wanted to let you know I really appreciate you guys if you want to see more stuff like this go on patron comm slash allow v6 but I also have another little message that every single Wednesday at 1 p.m. est you can watch a lousy 6 video every single Monday at 1 p.m. est you can go over here and watch an ATV China video and every single Friday just in time for a beer you can watch serpens today at 1 p.m. est thanks

Channel: laowhy86

Views: 309,350

Rating: 4.8024731 out of 5

Keywords: real estate, housing bubble, housing market, chinese apartment, buying property in china, chinese real estate, buying a chinese apartment, cost of apartment, property market, cost of chinese real estate, nail houses, nail house, real estate investing, laowhy86, advchina, adv china, serpentza, china, chinese girls, chinese culture, china (country), chinese people, living in china, chinese wife, china vlog, c-milk, ghost city, housing bubble 2.0, housing bubble explained

Id: pshYmehXhLM

Length: 10min 17sec (617 seconds)

Published: Wed Feb 20 2019