Has anyone here ever invested in real estate overseas in a developing nation?

[w¡n9Nµ7 §£@¥€r 123]

Has anyone here ever invested in real estate overseas in a developing nation?

I just had the thought this morning and was wondering what others experiences have been.

[Hilarious Clinton 452]

I've got my eye on a mine field in Cambodia.

[w¡n9Nµ7 §£@¥€r 123]

I've got my eye on a mine field in Cambodia.

I was just browsing a website with 2-bedroom 'flats' growing parts of India for as little as 40K. I know the language and the culture so I'm wondering if I should or not. The price is low so with a mortgage the downside risk is minimal. On the upside, if the economy keeps growing, the potential is huge.

Would I have to pay income taxes to the IRS on rental income from India?

[almaty 19]

i bought some swamp land in arizona... found out later, arizona did not have swamps...

[Hilarious Clinton 452]

I've got my eye on a mine field in Cambodia.

I was just browsing a website with 2-bedroom 'flats' growing parts of India for as little as 40K. I know the language and the culture so I'm wondering if I should or not. The price is low so with a mortgage the downside risk is minimal. On the upside, if the economy keeps growing, the potential is huge.

Would I have to pay income taxes to the IRS on rental income from India?

I would look at them first.

Pay taxes on them? I wouldn't. I'm not saying I'm right.

[mercuryroad 0]

I thought about it in Peru. Lu and I would like to retire there someday. But, they have some really strange property laws from what she tells me.

[Mirorgate 0]

www.internationalliving.com

www.escapeartist.com

www.sovereignsociety.com

Have? no, do I plan on it? Sure. My wife owns property in Ecuador... I can build a house there for about $20-$30K.

just some places to check though above.

[w¡n9Nµ7 §£@¥€r 123]

I was just browsing a website with 2-bedroom 'flats' growing parts of India for as little as 40K. I know the language and the culture so I'm wondering if I should or not. The price is low so with a mortgage the downside risk is minimal. On the upside, if the economy keeps growing, the potential is huge.

I would look at them first.

Yeah absolutely.

www.internationalliving.com

www.escapeartist.com

www.sovereignsociety.com

Have? no, do I plan on it? Sure. My wife owns property in Ecuador... I can build a house there for about $20-$30K.

just some places to check though above.

Awesome. Thanks!

...they have some really strange property laws from what she tells me.

Like what? I am legally not allowed to own property in certain parts of India because I'm an American citizen. I may ask my wife to stay Indian just so we can get around sh!t like that.

[Sister Fracas 5]

It sounds like a really interesting idea.... I'd consider it as long as it was someplace I could communicate very effectively and would be a place I'd want to spend some time in myself.

[mercuryroad 0]

I was just browsing a website with 2-bedroom 'flats' growing parts of India for as little as 40K. I know the language and the culture so I'm wondering if I should or not. The price is low so with a mortgage the downside risk is minimal. On the upside, if the economy keeps growing, the potential is huge.

I would look at them first.

Yeah absolutely.

www.internationalliving.com

www.escapeartist.com

www.sovereignsociety.com

Have? no, do I plan on it? Sure. My wife owns property in Ecuador... I can build a house there for about $20-$30K.

just some places to check though above.

Awesome. Thanks!

...they have some really strange property laws from what she tells me.

Like what? I am legally not allowed to own property in certain parts of India because I'm an American citizen. I may ask my wife to stay Indian just so we can get around sh!t like that.

From what she told me, if you rent out a place then the people that are renting it actually become the owners after 5 years if the original owner does not live in that city anymore. I think Lu might have some facts a little mixed up or something got lost in translation but I guess anything is possible. I can't offer a truly educated answer until I do some more investigating.

[Mr. Big Dog 10,747]

From what she told me, if you rent out a place then the people that are renting it actually become the owners after 5 years if the original owner does not live in that city anymore. I think Lu might have some facts a little mixed up or something got lost in translation but I guess anything is possible. I can't offer a truly educated answer until I do some more investigating.

Just recyle the renters every so often. Make sure no-one gets to rent the place for 5 consecutive years and you should be able to get around that kind of nonsense. Just a guess...

[almaty 19]

sanita owns some land ..use to be also a large house in grozny. russian missle took it out........ i don't think we be going there soon

[w¡n9Nµ7 §£@¥€r 123]

From what she told me, if you rent out a place then the people that are renting it actually become the owners after 5 years if the original owner does not live in that city anymore. I think Lu might have some facts a little mixed up or something got lost in translation but I guess anything is possible. I can't offer a truly educated answer until I do some more investigating.

Aah, India has similar laws. If the owner isn't around then squatters rights become close to absolute. That's why in some parts of India, where the culture is more violent, Americans who invest in property hire property management firms.. read men with guns. They hang out and keep away vagrants/squatters. I'm interested in flats in big/medium cities where the culture is less violent and more legal. Or in commercial properties, business is booming back there these days. But that might be more expensive.

From what she told me, if you rent out a place then the people that are renting it actually become the owners after 5 years if the original owner does not live in that city anymore. I think Lu might have some facts a little mixed up or something got lost in translation but I guess anything is possible. I can't offer a truly educated answer until I do some more investigating.

Just recyle the renters every so often. Make sure no-one gets to rent the place for 5 consecutive years and you should be able to get around that kind of nonsense. Just a guess...

It may not be easy to evict tenants there, depending on the laws. In India it can be difficult and sometimes can take years.

[Mr. Big Dog 10,747]

From what she told me, if you rent out a place then the people that are renting it actually become the owners after 5 years if the original owner does not live in that city anymore. I think Lu might have some facts a little mixed up or something got lost in translation but I guess anything is possible. I can't offer a truly educated answer until I do some more investigating.

Just recyle the renters every so often. Make sure no-one gets to rent the place for 5 consecutive years and you should be able to get around that kind of nonsense. Just a guess...

It may not be easy to evict tenants there, depending on the laws. In India it can be difficult and sometimes can take years.

Eviction is but one way to "recyle" tennants.

[mercuryroad 0]

From what she told me, if you rent out a place then the people that are renting it actually become the owners after 5 years if the original owner does not live in that city anymore. I think Lu might have some facts a little mixed up or something got lost in translation but I guess anything is possible. I can't offer a truly educated answer until I do some more investigating.

Just recyle the renters every so often. Make sure no-one gets to rent the place for 5 consecutive years and you should be able to get around that kind of nonsense. Just a guess...

Yep - or don't rent it at all. There are some really beautiful places there to buy a beach house. We know a family there that owns one and visits during the summer. The rest of the time it is unoccupied.