IL Postcard

Help!

Date: 05/07/2005

The Sunday Edition

Sunday, May 8, 2005

Dear International Living Reader,

A local contact…working for you…one you can trust…is an invaluable asset anywhere in the world.

We've done it both ways--completely on our own…and with local help. Take my word for it: Take the help if you can get it.

We're considering investments in four new countries right now…four places where we've never put money before. Two of them we've never seen. All are attractive markets right now, in the same general geographic region, at different points in their cycles of recovery from historic woes.

My husband, Lief Simon, has been researching these markets, with the help of two scouts, for nearly a year. He has made two research trips of his own (though, as I said, to but two of the destinations; he hasn't yet made it to all four). The clock is ticking. We realize we need to act sooner rather than later, especially in two of the countries, where prices are appreciating quickly.

But we've been stalled. Uncertain. Feeling our way through. Moving more slowly than might be typical for us. Because, in each case, we went into the market blind and alone.

In two of these countries (ok…I'll relieve the suspense…here I'm talking about Croatia and Romania), we have, after months of effort, finally identified local contacts we trust. And Lief has made offers on two pieces of property in each country. But it took us months to get to this point of comfort. Meantime, as I said, both markets have been surging ahead…and we've felt, with every passing month, that we've been missing out.

Now our attention is focused also on two other countries in this part of the world: Montenegro and Albania. Much earlier in these places…much more speculative…but maybe more interesting, too, from a profit potential perspective. In these markets, we're nowhere near ready to act. We haven't identified local sources we trust. We haven't pin-pointed particular regions of each country that might be more appealing than others. We have no comfort level with the purchase process or the title issues.

And, as I've mentioned, we also haven't seen these countries firsthand yet. We've scheduled a trip later this month. We discussed plans for the scouting expedition last night. Then, tossing and turning in bed, unable to sleep, so many questions running through my mind, I wished we had reliable local contacts in these places.

We'll find them. And, yes, the looking is an adventure. But it takes time…and energy…and it costs money.

We do this for a living, yes, and, frankly, for fun. You may enjoy it, too…feeling your way through a new place, getting to know the local players, separating the good guys from the not-so-good…traveling a country top to bottom, border to border, to get to know its regions…putting in the hours of research and the days on the ground.

But going it on your own means you'll likely make mistakes. Like we do. Mistakes also cost time and energy and money. And they're not so fun.

Here's my advice: Let us make them for you. It's what we do.

Your editor, feeling her way through,

Kathleen Peddicord
Publisher, International Living

P.S. To get in touch with our contacts in Croatia, e-mail Croatia@InternationalLiving.com. For help in Romania: Romania@InternationalLiving.com. As I said, I can't right now give you trusted contacts for Montenegro or Albania…because we don't yet have any. But we're on the case. Watch this space.

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