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Hey Bill,
am interested as well in ads and stuff.
Send to
lrobbie at netspace.net.au
Cheers!
]Lisa R>>registered in his wife’s name (who was Turkish nationality whilst he wasn’t and he could therefore actually own property in his own name). <<
Sorry I made a typing mistake. Even tough my friend is married to a Turkish citizen he cannot own property in his own name (so the above paragraph should have read ‘ ………… he couldn’t therefore actually own property in his own name’ )
However I have just thought of another risk guys.
If you were to invest in a country where you cannot own property in your own name and if you placed the property therefore in your partner’s name because he or she can own the property because of his or her’s nationality that partner can leave you and take the property with him or her !!! [
] []Pisces133
Investing in other markets than one’s own does provide some risks as well as advantages such as :
1. Unless you live there it will be difficult to manage the property efficiently or for that matter to locate a suitable investment property.
2. Currency risk. The economy of some of these countries you seem to refer to is in tatters so there is a distinct possibility that in terms of your own currency at home the actual value of the overseas property actually goes down.
Then again in Aussie terms the overseas country’s currency may increase in value. So we suddenly find ourselves in asituation where another area has come into play which we have to take into account.3. Some of these countries have a lot of crime and violent (mafia type) people. You may lose control of your property to ‘the wrong’ type of person and not being able to regain possession.
4. you may not enjoy the same kind of protection by the laws as in the country where you presently reside.
5. Some countries are politically unstable. Do you really expose yourselves to all kinds of risks which flow forth out of a county in upheaval ?
6. Possibly hard to near impossible to get a mortgage loan.
7. You may experience language problems.
8. Different type of laws compared to the system you presently are exposed to.
9. Where you live now you can use your spare time to locate the right kind of properties. To buy in far away places likely means you cannot work there so you lose income whilst you are looking for suitable properties.
10. some countries (for example Turkey) I understand you cannot own property being a foreigner.
11. I know someone who whilst living in Turkey
owned a multi million dollar vacant development registered in his wife’s name (who was Turkish nationality whilst he wasn’t and he could therefore actually own property in his own name). well this development site was ‘stolen’ from him by Mafia type people who obtained a replacement copy of the title deed and thence sold it. My friend couldn’t in this situation recover the land.That person’s story isn’t finished. His share broker took off with a couple of hundred (US) dollars’ worth of shares belonging to him. (about 800 other people found themselves in the same boat). In the mean time the perpretators of these heists disappeared to another country.
However I have to admit that this kind of thing could possibly happen even in Australia I guess.
The point is that there may not be the same kind of rules in place in a different country.The main point of the above is that in some countries they don’t (as yet) have the same kind of regulations (to protect one) in place as in Australia).
11. Do you really want to spend a big part of your life in a cold and miserable climate ?
Some advantages ?
A. Well you could obtain some reduction of risk (both currency and other factors) by spreading your investments out over different countries.
I would guess that the subject is really a very hypothetical exercise for us as how many of the people on this website would actually be in a position to pursue investing in another country on a largish scale ?
BTW my understanding is that property in france is relatively cheap.
Then again, going there means that one eventually will be living in a Muslim country (dealing with new kind of laws and customs).Now if france was only France it may be a different matter. france is on the way down even though its leaders are desperately trying to
re-establish france’s earlier glory and importance. Yes, you are quite right, obviously I don’t like the frogs anymore.B. If you are about to run away from the law (or your wife or your creditors [
] ) where you live now you could of course try to find a suitable country which can serve as both a safe haven where not only you cannot be touched but where you also could do some real estate investing.I have no doubt there are some other pros and cons as well.
Pisces133
The topics a bit way off anyway Ghoti, so don’t worry about it. Anything that appeals to our basic materialistic instinct will always be an interesting topic.[
]With regard to laptops, I got mine with salary sacrifice. There is no FBT on laptops, so my company can get it GST free, and then we sacrifice our pre tax dollars for the rest. The end result is a laptop costing 47% of the retail price.
Jim.
]Lisa R
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