design/il_design/templates/il_sections/real_estate/line/il_postcard.tpl
Why you should hire an architect
Date: 08/01/2007Renovating a property anywhere can be a tough task. Doing it in a foreign country requires one part dream, one part adventure, one part persistence, and one part crazy. To date, I have renovated five properties in five countries…and I still have enough crazy in me to be working on a sixth.
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Fractional ownerships
Date: 08/01/2007
Palazzo Tornabuoni, Florence
To be an owner of a 16th-century frescoed Palazzo in the center of Florence is a rare privilege given that these historic estates are passed down from family to family, and almost never come up for sale. This Renaissance palazzo, once home to a Medici cardinal, has been restored to its glory days complete with supreme marble and silk furnishings. As an owner, you can have access to all the favorite pastimes of the nobility, including wild boar hunting, private wine tours of the Tuscan vineyards, and decadent massages and beauty treatments at the new Four Seasons Spa, just steps down the Via X, as well as six weeks a year guaranteed time at home. See: www.palazzotornabuoni.com.
design/il_design/templates/il_sections/real_estate/line/il_postcard.tpl
The pains of administration
Date: 06/28/2007Profits from real estate investing are exciting. Not so exhilarating is dealing with the administration and bills.
In the less sophisticated markets, like those in Central America, the government isn't likely to send you a property tax bill. You have to go down and ask for the assessment and pay it in person. In some countries, you may or may not get a utility bill in the post, but again, in Central America you are likely to have to go in person to pay the bill even if one is mailed to you.
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Beware the markets of the Wild Wes
Date: 06/01/2007Real estate agents outside the States are nothing like their U.S. counterparts. Over the years, I've come to think of them as carpetbaggers.
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How It's Playing Out in Panama City
Date: 07/14/2007
Learn more about international real estate in International Living Postcards--Saturday Edition
Saturday, July 14, 2007
Buying property pre-construction (off-plan) comes with risks, including the big and obvious one that the developer might not complete the building. Indeed, several buildings that were selling pre-construction in Panama City have been canceled in the last few weeks. Now they won't be built.
What does this mean for pre-construction investors? Will they get their deposits back?
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Perpetual Traveling 101
Date: 07/07/2007
Learn more about international real estate in International Living Postcards--Saturday Edition
Saturday, July 7, 2007
When relocating abroad, should you rent or buy?
The question came up over dinner with friends last week. We were talking about the increasingly popular concept of perpetual travel during retirement. In that context, does it make sense to own anywhere? Maybe choose a "home base" and invest in a "home" there…while renting in all the other locations where you want to spend time each year?
Owning has advantages. You can leave personal items from visit to visit. You can have your own set of keys and come and go as you please. You don't have to worry about checking in or out.
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Risky Business
Date: 06/30/2007
International Living Postcards--Saturday Edition
Saturday, June 30, 2007
Every time I mention Nicaragua, a certain reader writes to tell me (as I'm sure he will today) that it is too risky to consider investing in that country. I find it highly amusing that he has such strong opinions about a country he has never visited. But it's not just Nicaragua; our friend also has a problem with Croatia. He likes to frequently remind me that both countries had civil wars 10 to 20 years ago.
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Is That Brad Pitt I See Following Me?
Date: 06/23/2007
International Living Postcards--Saturday Edition
Saturday, June 23, 2007
"If you can get a local celebrity to buy a house in your development, then the demand from locals can be tremendous."
So advised a real estate agent to a developer I know launching a new project on the coast of Panama. It is a tried-and-true marketing strategy. I've noticed Erik Estrada pitching otherwise unsellable property in Washington through infomercials recently.
Indeed, celebrities buying into a development, city, or country can generate a lot of press. But it doesn't guarantee appreciation.
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