No argument regarding Spain, definitely never advocated buying or even researching seriously on a 3-week holiday either. All I'm saying is that moderation in views and a balanced perspective is required. Australia is safe (legislation and social profile are at least), and probably reasonably well placed appreciation and asset protection wise as well.

However, reasonable long term cashflow, while being only one of many factors (albeit a crucial one, particularly in today's climate), is not the norm here, and requires extensive deal mining/creative renovations and builds to achieve.  Affordability is another major issue. And as far as regulated environments go, while Spain certainly isn't it, it isn't the only country in the world. Singapore, Hong Kong, Japan, the UK, Germany, France etc are only a few of the global property investment Meccas that have the same characteristics of safety and stability, with many other equal or often better factors to consider as well. Not many likely civil wars breaking out there either, and some of them offer far better deals than Australia has been in recent years. 

Italy as well, while I could be wildly wrong, is far too significant to too many lobbying international powers (the Catholic Church would be one that comes to mind almost immediately) to go completely underwater over the long term. Far more speculative than all of the mentioned above though, I do realize that. Lybia is the perfect frontier market for today's high risk venturists, and while I don't play or recommend anyone do that field, there are a great many who do so profitably. As long as you know what you're getting into and mitigate risk the best you can. It'll be much higher, but so will the yields. The USA isn't very far from that category atm, incidentally. It's certainly as easy to get stung there as it is in Italy, maybe easier, or so it would seem from what people have been posting on here in increasing frequency.

Daunting at first and requiring extensive research or connections, yes, but a gamble? I beg to differ- or at least not more of a gamble than your own back yard. There are many countries where the correct infrastructure setup will enable anyone to invest much more safely than in their countries of origin.

In Australia's case for instance, almost every property purchase, as regulated and "safe" as it seems, is a gamble, trying to beat neutral or close to neutral cashflow with appreciation speculation. There are far more reliable income generating, positively geared property investments available in other countries at the moment.

My meeting's next week, will keep you posted.

good buy, I think mackay, like Gladstone, will prove to be a bit of a gold mine in coming years (barring a major crash). When did you get in there, and did you manage to get them positively geared (if you don't mind my asking)?

I love the positive vibes surrounding North American business folk, great fun to be around, very inspiring…just takes a bit of DD to separate reality from wishful thinking when dealing with them.

They've been advertising in biggerpockets.com too, until mid-2010, then seemed to have disappeared. Sorry to hear, best of luck with the pursuit.

yup, that's one of the perks of international investments, play them right and there are great dividends to be made on the side from exchange rate fluctuations- but only if you've got spares set aside and are not panicking to get your funds across at last minute cut-throat rates. Otherwise those fluctuations can hurt as hell too. It's all in the planning.

Thanks, John. Some basic guidelines would be a good start- what do you look for in an attractive commercial listing? What are the appreciation/cashflow considerations compared to residential? What classes of tenants are there, etc etc, anything that comes to mind for novices to be acquainted with.

thanks again,

I wouldn't let anyone but the property manager collect rent, that's what they're there for. Even in Japan (Realtors arm chopped off with katana sword. True story – http://rt.com/news/sword-rampage-arm-samurai-709/)