Real Estate Thoughts II
International Real Estate Thoughts
We live in a truly global economy
covering every aspect of our lives from love to real estate to
Take the September 27, 2005 article "U.S.
Weapons, Foreign Flavor" by Leslie Wayne in the New
York Times. Here are excerpts of the article:
"At one time, the Pentagon
could have obtained all it needed in the United States, but no
"The newest Army spy plane
will be a variation of one made by Embraer of Brazil. All the
proposals for a coastal combat ship are based on foreign designs.
Twelve of the biggest weapon systems used in Iraq - including
Predator drones and Tomahawk missiles - could not be built without
"Even the next presidential
helicopter was designed by Italians and will be built by a British,
Italian and American alliance that defeated an all-American team
led by United Technologies.
"The Pentagon says an international
supply system helps share the cost of research and start-up expenses
while making the ties between the United States and its European
"Our job is to get the best
for the war fighter," said Kenneth Kreig, who was just named
the Pentagon's chief weapons buyer. "Innovation is not always
bounded by borders.We want the best capability at the most cost-effective
price and from the best suppliers we can find.
"You can read the entire article
The point is clear, we should look,
buy, live and invest where it is best for us, not just where
we happen to have been born or now live.
This is a universal blending of
mankind and our ideas, efforts and goals are not without hitches,
but in the long run are good and we should taker advantage of
So this week’s messages
look at real estate around the world.
Recently we looked at property opportunity
in Croatia. A number of readers have added information we
"Gary I was in Croatia 4 years
ago, and I loved it.
"There were several abandoned,
vacant hotels there.
But the real estate situation was
somewhat unclear as to how foreigners could get clear title under
the Croatian laws and title insurance, etc.
"This could be like the Isle
of Man, in the sense that it was once a prime tourist destination,
and touristsare coming back to it again (except they never really
came back to IOM in a big way). Richard.
"Our son Jake added some comments
Dad, Did you know nearby Estonia recently
adopted a flat tax system soon dropping to 20%?
"I've heard a lot of entrepreneurs
are heading there to do business.
Likewise I've been learning and hearing about Estonia in other
ways a lot. Estonia is essentially a part of the Finnish homeland
and the culture there is rich and sophisticated. (Even more
interesting, modeling agencies have been going there a lot recently
because of the beauty of the people. Even Hitler thought
the Estonians were one of the few peoples in non-Germanic Europe
who could actually enhance German genetics!) The super
model Karman Cass is probably one of the best known super models
to come out of Estonia.
"In addition Estonia has all
that European charm, beautiful old cities with cobbled streets
and rural countryside to die for but is very cheap. Sounds pretty
neat. Love, Jake.
"This note comes from another
reader I have known for over twenty years. He is astute:
"Gary, Just got back from a
cruise that included a stop in Dubrovnik. Incredible beauty
in the town and up and down the coast. I echo the sentiments
of your other writers. One note from the guide that we
hired - the greatest number of new property owners are from Ireland! Having
seen the changes in Ireland with a low tax regime, they appreciate
the same in Croatia, and recognize the opportunities in one of
the most beautiful coastlines in Europe, the Dalmatian coast.
Split is also the site of Diocletian’s
palace and several other Roman ruins. The other towns along
the coast reflect the influence of Venetian dominance for over
500 years. I think that you and Merri would definitely
feel at home there. Carl.
"But we also get a little word
of caution from another well traveled reader.
"Gary, Whilst driving around
the world with my kids ('72-'73), we spent a fair amount of quality
time in (what was then) Yugoslavia & it truly was a terrific
place! Of course then it was red but still quite civilized
for an American tourist family to wander.
"Dubrovnik is a photographer's
paradise & not enough good things can be said about it. Split & Hvar
(at least as they were back then). Apparently all still remain
much the same, now that the war is over.
But the people can be an amazingly
bloody lot. Further: they are definitely rough-edged by
our standards. It might be wise to wear gloves when playing with
"There you have it, some excellent
comments by experienced well traveled friends. Merri and I are
focused on Ecuador but Eastern Europe offers opportunity as well!
Until next message good global investing!
International Real Estate Thoughts II was written by Gary Scott