If you can manage properties in Pennsytucky and Padookaville, while living in a decent city in the US, all the more power to you. I was speaking about residential property somewhere in a major city. A friend of mine knew a mobile home property owner and said getting your rent from them is absurd...like pulling teeth....and residentials in college towns are seasonal (you will not get full yr. rental commitments) and the kids destroy the properties. Not to mention that probability of these types of properties going up in value are not the same as major cities (which are now beyond fully priced) - that's a big IF they go up. If you like these types of headaches and have the time and energy to manage them, all the more power to you. I know that between the markets and family, there's not much time for me to call the plumber in Kazootown, USA and find out why he didn't snake out the clogged puke in the collegetown 2 bedroom apartment which is inhabited by 8 drugged up jockstraps.
very good point with eastern europe. i researched the market in warsaw this summer. it is absolutely red hot, problem is not much left to buy. all of good layouts and views gone long time ago.
In case you were wondering, land in parts of Florida just got a lot cheaper in the last 12 hours c.f. Charley.
RE:"If you can manage properties in Pennsytucky and Padookaville, while living in a decent city in the US, all the more power to you. I was speaking about residential property somewhere in a major city." You do not have to manage them. You can hire a real estate company to do all of the work. They find the tenants call the plumber, etc.
About time some sense entered this thread. The cost of hiring anyone to manage your property cuts into the profit margins making the investment a whole lot less desirable.
I have a couple of questions regarding that trailor park community in Florida that was destroyed by Hurricane Charlie. Who pays to clean up the mess? I'm guessing its the owner of the land. Do the inhabitants still pay a monthly rent even if their dwellings are nonexitant?
Screwey? Why?? I love to hear this!! As to real estate, get some lakeside property in Finland. There's nothing more beautiful.