I know a couple of my friends who invested in China & Indonesia and reaped considerable profits.
One invested in China (Guangzhou) and in 4 years’ time doubled his stake. Another friend of mine invested in some area in Jakarta, Indonesia and it increased by 7 times in value within a year.I know it sounds highly speculative, but it did happen. Guess the lesson is you have to live in the area and know it well enough as to know the ins and outs of the market.
Anyone heard of such stories or even better, experienced the same thing?
Something closer to home- not sure which state your in.
Cousin bought a house in Marrickville NSW in 2008- now it’s worth 50% more.
And of course you hear the common Mining town having their massive boom and glooms
Big risk = big gain= Big lost as well.
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
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A friend bought an apartment in Indonesia. Later found out it wasn't in his name. He has spent 6 years trying to get it back and has paid for it again in bribes and fees etc and has a Supreme Court ruling that it is his, but still cannot get it into his name. I went to Jakarta with him to sort it out, but could not get a straight answer from anyone. 2 years later it may be nearly there.
It is extremely frustrating in dealing with the corrupt and bureaucratic ways over there.
China would probably be better, but still corruption is rife – and you may have even missed the boat.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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