International Real Estate

[housingrental]

To add to what Michael and Mr. Redline have wrote - also note cultural issues / corruption / criminal issues might be an issue and adds an extra element of risk that you would not find in Canada -



Ever try collecting rent off of someone half a world a way who's family is the police and/or judiciary?



Do you think in all situations you are getting appropriate rent amounts or repair costs even if you are a "foreign rich devil taking advantage of the renter's situation"



Investing in foreign countries without significant expertise is a great way for a small investor to go bankrupt.

 

[TangoWhiskey]

I know a guy whose father died in Pakistan about 8 years ago. His father was a multi millionaire leaving a large estate. My friend is the sole heir. He fought to get his estate as outlined in the will for years, refused to pay off the judges, and now faces attempted murder charges because various attorneys who wanted a piece of the estate paid off corrupt police and judges to file those charges. He can no longer visit Pakistan as then he will be arrested and likely tortured into signing confessions. He probably will never see any of the money of his inheritance and now wishes he had just paid off the judges to start with (who wanted a LOT because the estate is so large).



This can happen to you in many, many other countries including Mexico

 

[RedlineBrett]

[quote user=TangoWhiskey]

This can happen to you in many, many other countries including Mexico




I won't even go there for a holiday let alone buy property there.

 

[housingrental]

Interesting post Tango, thank you