Gold and Silver or Property?

bordsilver said:
Dogmatix said:
Why don't they buy up big in Ireland, Spain, Greece or the USA instead? (there could be many reasons)
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Seeing some of the dynamics in the background RE Aussies buying cheap US properties (you've probably seen a range of various marketing campaigns over the past couple of years) sometimes there is simply a case of having the right people in the right place at the right time. The whole system starts with a trickle before eventually turning into a river of capital flows.

Basically the are a heap of regulatory hurdles and investor skepticism that needs to be overcome before any of these international property sales schemes fly. The Australia-US schemes took a fair while before any of my friends even started raising it as a viable opportunity rather than laughing it off. Now I know two people who have moved to the US for a few months purely to go around and buy up the cheap housing.

The same barriers would happen in China-Aus sales pitch but I'm guessing the perceived robustness of the Aussie economy (due to our world's best Swan) plus the large resource investments still flowing through and other stories add to the ease with which the spruikers can spruik.
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Good post, I didn't really consider that perspective.

It fits with what Rothbard said.

Also we are geographically close and somewhat multicultural.
 
bordsilver said:
My parents fell for a scheme in Fiji sold to Aussies way back in the late 70's/early 80's. Great beach front subdivision property on an idyllic tropical island perfect for tourism etc etc for a pittance. Ended up losing all their dough.
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My mother had get heart set on buying cheap property in France recently. Problem for aussies is that anywhere looks cheap compared to us.

I advised her not to buy property in another country because it 'seems cheap', particularly as she cannot be certain about taxation and upkeep costs (she is not a world traveler).
 
I'd never buy in another country without first living there for a while. There are enough Aussies who don't know the market - including me, getting duped and ripped off in Australia and we live here. It's even more difficult for a foreigner.

But a foreign piece of real estate is definitely on my agenda.
 
Dogmatix said:
bordsilver said:
Dogmatix said:
Why don't they buy up big in Ireland, Spain, Greece or the USA instead? (there could be many reasons)
Click to expand...

Seeing some of the dynamics in the background RE Aussies buying cheap US properties (you've probably seen a range of various marketing campaigns over the past couple of years) sometimes there is simply a case of having the right people in the right place at the right time. The whole system starts with a trickle before eventually turning into a river of capital flows.

Basically the are a heap of regulatory hurdles and investor skepticism that needs to be overcome before any of these international property sales schemes fly. The Australia-US schemes took a fair while before any of my friends even started raising it as a viable opportunity rather than laughing it off. Now I know two people who have moved to the US for a few months purely to go around and buy up the cheap housing.

The same barriers would happen in China-Aus sales pitch but I'm guessing the perceived robustness of the Aussie economy (due to our world's best Swan) plus the large resource investments still flowing through and other stories add to the ease with which the spruikers can spruik.
Click to expand...

Good post, I didn't really consider that perspective.

It fits with what Rothbard said.

Also we are geographically close and somewhat multicultural.
Click to expand...

a euphemism for [edit] ...
 
mmm....shiney! said:
I'd never buy in another country without first living there for a while. There are enough Aussies who don't know the market - including me, getting duped and ripped off in Australia and we live here. It's even more difficult for a foreigner.

But a foreign piece of real estate is definitely on my agenda.
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As long as it's on some island away from all forms of government. Governments are kinda like those goons who demand "protection money" with the threat of violence if you resist.
 
Yippe-Ki-Ya said:
mmm....shiney! said:
I'd never buy in another country without first living there for a while. There are enough Aussies who don't know the market - including me, getting duped and ripped off in Australia and we live here. It's even more difficult for a foreigner.

But a foreign piece of real estate is definitely on my agenda.
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As long as it's on some island away from all forms of government.
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Well, that kind of narrows the target market a little. :lol: Mars?

On a serious note, there are small patches of land on this planet that no sovereign power lays claim to. Trouble is, if you live there then that can open you up to a whole world of shite if your neighbour (read: another country) takes a liking to your plot or your daughter.
 
Why not consider seceding from Australia? Surprisingly, there are a few independent principalities (sp) in Australia.
 
mmm....shiney! said:
Boston, I long for a Republic of Tasmania. :)
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Never going to happen. They get too much funding from the big island, to want to leave. :/
 
boston said:
mmm....shiney! said:
Boston, I long for a Republic of Tasmania. :)
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Never going to happen. They get too much funding from the big island, to want to leave. :/
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I thought he meant so that we could say finally goodbye to the parasitic buggers.
 
Dogmatix said:
bordsilver said:
My parents fell for a scheme in Fiji sold to Aussies way back in the late 70's/early 80's. Great beach front subdivision property on an idyllic tropical island perfect for tourism etc etc for a pittance. Ended up losing all their dough.
Click to expand...

My mother had get heart set on buying cheap property in France recently. Problem for aussies is that anywhere looks cheap compared to us.

I advised her not to buy property in another country because it 'seems cheap', particularly as she cannot be certain about taxation and upkeep costs (she is not a world traveler).
Click to expand...

That is a main point about US property - the yields are great but you need a few properties to justify the trust set up's etc. and ongoing tax costs and upkeep is huge compared to Australia as you virtually need to do a cosmetic reno between sets of tenants given the number of properties on the market for rent and the mentality of renters there. Another thing to keep in mind with the US is they don't have property managers like we have here they have rent collectors for a fee and you need to organise upkeep (so either get a building super or negotiate an additional fee for service with an agreeable real estate agent and hope they come through).

I had a look at it but couldn't justify the risk and effort for what would have been a relatively modest investment - if I was investing enough to get an "economy of scale" effect going it would have been different.

Oh and watch out for people targeting foreign investors there with big mark ups on sub standard property and the good old pump and dump (tenant in place for x% yield on lease who disappears after the term is up and no hope of securing another for similar $).
 
mmm....shiney! said:
I'd never buy in another country without first living there for a while. There are enough Aussies who don't know the market - including me, getting duped and ripped off in Australia and we live here. It's even more difficult for a foreigner.

But a foreign piece of real estate is definitely on my agenda.
Click to expand...
When your overseas YOU are the foreigner :)
 
hi,
i just got a friend who just bought a house and land packages outright back here in melbourne... and just settling on a condo in singapore worth about 5 million SGD.

he doesnt even do any due diligence.. just asked me for a place where he can buy land, and i showed him couple of places.. then just buy..

why does he have to know the market or doing any due diligence when the money is not a problem ?

i couldnt stop thinking about it.. but he does have the money...

now the house key is with me.. and house is just sitting empty..... he never lives on the place.. and all bill got paid by me (which reimbursed by him).

when you up to that level of wealth... you will have different thinking and philosopy..

mmm....shiney! said:
No offence intended at Rothbard and others who may make a living from selling to foreigners, but it amazes me how stupid some of the Chinese are. It's the same with the Japanese before them, and possibly Indians now. They fly into a country with loads of dosh, get shown a few specific properties by a few specific agents, buy the ones they like, then piss off back home hoping to make a motzah.

It's like visiting a souvenir store in Surfer's Paradise and hoping to walk out with a genuine product without being ripped off.

What ever happened to doing your own due diligence and getting to know a market well yourself? Dumb!
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+1. I've known guys like this in former life. One guy had multiple high quality places around the world and every now and then as driving along he'd say something like "I have a place up in them thar hills. Haven't been there for 12 years but I remember giving the keys to xxx for Christmas a while ago." (But in an Austrian accent.)

He spent half a million dollars getting snow makers and pine trees to make a faux winter forest scene for his last wedding (which was in late spring).
 
long88 said:
hi,
i just got a friend who just bought a house and land packages outright back here in melbourne... and just settling on a condo in singapore worth about 5 million SGD.

he doesnt even do any due diligence.. just asked me for a place where he can buy land, and i showed him couple of places.. then just buy..

why does he have to know the market or doing any due diligence when the money is not a problem ?

i couldnt stop thinking about it.. but he does have the money...

now the house key is with me.. and house is just sitting empty..... he never lives on the place.. and all bill got paid by me (which reimbursed by him).

when you up to that level of wealth... you will have different thinking and philosopy..

mmm....shiney! said:
No offence intended at Rothbard and others who may make a living from selling to foreigners, but it amazes me how stupid some of the Chinese are. It's the same with the Japanese before them, and possibly Indians now. They fly into a country with loads of dosh, get shown a few specific properties by a few specific agents, buy the ones they like, then piss off back home hoping to make a motzah.

It's like visiting a souvenir store in Surfer's Paradise and hoping to walk out with a genuine product without being ripped off.

What ever happened to doing your own due diligence and getting to know a market well yourself? Dumb!
Click to expand...
Click to expand...


Silver stackers party time"...

Where & when?

Can I get a set of keys?
 
bordsilver said:
+1. I've known guys like this in former life. One guy had multiple high quality places around the world and every now and then as driving along he'd say something like "I have a place up in them thar hills. Haven't been there for 12 years but I remember giving the keys to xxx for Christmas a while ago." (But in an Austrian accent.)

He spent half a million dollars getting snow makers and pine trees to make a faux winter forest scene for his last wedding (which was in late spring).
Click to expand...

Funny though - this is how the rich spend the money.

But this is not how they make money - it's how they lose it. Unused properties are a money sinkhole - they won't even break even after capital appreciation unless there's a mega-bubble.

It's just plain stupid really, but they can afford it so it matters little to them.
 
they're just stacking at a different level
where by we stack bars and coins they just doing it on a bigger scale using property
 
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