Best international investment destination?

[mfbonet]

Where would you invest?
I am looking for return first and foremost -
Dont care where I buy...
suggestions guys??? Thanks!!!

[sarahk]

New Zealand offers good yields, no restrictions on buying and selling, no stamp duty, foreigners can buy. Property Managers can be employed to look after your property in your absence.

The best returns are in the really tough neighbourhoods. Personally I wouldn't buy there as I'd rather have a lower return but spend few hours managing the property, doing or organising repairs etc.

So when you say you that you "don't care where" do you really mean it?

[mfbonet]

Hi sarahk -
Thanks for your response!

What are your thoughts on Eastern European investments? For instance, Bulgaria is becoming part of the EU in 2007 - as well, the country enjoys a growing economy in addition to other favorable aspects.

I am in Canada - this purchase would be solely for investment purposes; as such, at the end of the day, I don't really see the importance in the country as I will probably never use the place myself...

[mfbonet]

Hi sarahk -
Thanks for your response!

What are your thoughts on Eastern European investments? For instance, Bulgaria is becoming part of the EU in 2007 - as well, the country enjoys a growing economy in addition to other favorable aspects.

I am in Canada - this purchase would be solely for investment purposes; as such, at the end of the day, I don't really see the importance in the country as I will probably never use the place myself...

[sarahk]

I'm a great believer in knowing the market.

I don't believe in investing offshore because

I can't "drive by" and check the performance of my property and it's managers
I don't understand the culture
I don't understand the business environment
I don't understand the political environment
I don't understand the economic environment
For instance, would you understand the ramifications of a winter eviction? In some countries that's illegal.

We have a burgeoning apartment market with rents guaranteed for x years. Problem is that when you go to sell you frequently find the sale price has plummeted $100k or more. Local and seasoned investors saw it coming but newbies have been badly burnt. Other residential property types have been unaffected.

Laws change - in New Zealand we're reviewing some insurance requirements and the ramifications are huge. The NZPIF (http://www.nzpif.org.nz/) is fighting and lobbying and generally our government is stable and sane so we're confident that the status quo will remain.

On the other hand alot of New Zealanders invest in Fiji which is going through a [another] traumatic coup. I wouldn't want to be owning landowner there right now. Thailand has had a coup too, but bloodless and simple. Apart from the fact that foreigners aren't allowed to own land the coup wouldn't have caused me concern if I did.

They're also investing in towns like Tokoroa and there are companies set up here and overseas to assist. Only thing is that Tokoroa is a one industry town with significant social problems. If the major employer closed down what would happen to land values?

As a Canadian are you really aware of the ins and outs of that Eastern European market? You may say it's just about the money, and indeed it may be, but you are still providing people with homes. You need to invest in the right type of property, in the right area that will attract stable, financial tenants now and in the future.

[Cash Home Buyers _ com]

I don't recommend investing in the next county over, let alone state, and another country is extremely risky as far as real estate goes.

Now that doesn't mean it can't be done, but the amount of capital, knowledge and network it would require to do it right would eliminate most everyone, and the answers would not be found on a forum, but through a network of the wealthy that are successful at such a thing. The main advantage of real estate is being able to determine value in a local market and therefore obtain a good deal, manage well for good returns, or to increase/create value.

If you are investing in other countries, then you give up all of those advantages and are only going for the appreciation, as everything else will be lost, ie- you won't get a good deal, you won't be able to manage it well, and you won't be able to identify properties to create value.

So with appreciation, you are looking at a hard return, hey maybe up to 30% or even more per year if you pick the right country and opportunity. But the amount of work and risk involved, you would be better of shorting stocks, trading futures, commodities or other high risk, but knowledge skilled investments.

my thoughts

Scott

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[crown_frog]

Why not Bulgaria? The prices are still very low compared with other countries in EU, but they are starting to increase.