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"Rule #4: Acknowledge your bad Spanish.

"I've found that this gets you a lot of points. Unless your Spanish is legitimately fluent, begin any conversation with, 'Excuse me, my Spanish is not very good, but...' First, this makes the Spanish-speaker more attentive to what you're saying, but it does something else, too. It lets the person on the other end of the conversation know that you're not a cocky American who's going to barge in and belligerently demand what he wants. It signals instead that you're asking for help. That really puts someone in a different state of mind.

"Rule #5: Pedestrians do not have the right of way, ever.

"Lots of people get run over. One trick when crossing a street with a stop sign is to cross behind the lead car. Locals don't ever cross in front because that car is watching the traffic. When there is an opening to go, they will go whether there is someone in front of the car or not. The pedestrians are just expected to scatter. It takes some getting used to, but you can't expect crosswalks to be honored or for pedestrians ever to have the right of way.

"Rule #6: You've got to drive aggressively.

"If you're a yield-to-the-right-of-way person, you're going to be sitting at the first intersection you come up to until doomsday. Ecuadoreans are very aggressive behind the wheel. They don't let people in and they don't show courtesy, neither to pedestrians nor to other drivers. If you can't drive like them, you're better off not driving. I found it fun, so much more fun than driving in the States, when I got used to it.

"Rule #7: Forget your ideas about personal space.

"We tend to treasure a little space around us and don't touch or rub up against each other in public. Once in this country I was taking the bus and sitting next to a 12-year-old girl on her way home from school. As we were riding along, she fell asleep on my shoulder. When we got to her stop, she woke up and got off. That's a kind of closeness we're not prepared for.

"Rule #8: Don't get in a taxi without agreeing the fare in advance.

"I just read that Cuenca now has metered taxi. Guess what? Cuenca had metered taxis in 2002 when I was living in that city. They became law, but the taxistas refused to use them. They still do. They get away with it because customers don't complain. The taxista just puts a rag over the meter so you can't see it. So you want to get an idea of what the fare should be before getting in.

"About a year ago, I arrived at the Cuenca airport and asked a driver, 'How much to downtown?' He said, 'Six dollars.' I said, 'I don't think so. I live here!' He said, 'Two dollars.'

"Rule #9: Don't wait to be seated and other restaurant etiquette.

"In the United States we wait to be seated, but here you seat yourself. Also, in our culture, a waiter is designated to certain tables, and you only ask your waiter for more water, etc. That doesn't happen here. All the waiters are happy to help. If you need something, don't worry about who took your order, just grab the next guy you see.

"Also, you need to ask for the check. I can't tell you how many times I've seen folks angrily waiting for their checks while the restaurant has wanted to close 20 minutes ago. All the waiters stand shoulder-to-shoulder by the kitchen wishing the people would just ask for the check so they can go home. It's a standoff that happens all the time. It would be rude for a waiter to bring the check before you ask for it. By asking for it, they know you're done. You can say, 'La cuenta, por favor.'

"Restaurant bills here include a 10% tip. If you want to leave something extra, that is fine but not expected. If I know the restaurant owner doesn't distribute tips to the wait staff, I leave cash on the table.

"Rule #10: Bring patience with you.

"Know that nothing will be as efficient as where you're from. Be patient. You're gonna' love it here if you learn to appreciate the differences."

Kathleen Peddicord

P.S. Lee Harrison was master of ceremonies for last week's event in Ecuador. His presentation on Ecuador etiquette was recorded, along with every other presentation. These audio recordings are being edited now to create our all-new Live and Invest in Ecuador Home Conference Kit, which will be available for fulfillment two weeks from today.

Meantime, you can purchase your copy pre-release and save more than 50%. Do that here now.

Climate In Croatia Versus Climate In Portugal

"Dear Team Live and Invest Overseas, I thought this might interest you...

"According to my Weather Pro App (widely used by Irish farmers) we can see that our trip to Dubrovnik next week will be somewhat of a disappointment weather-wise compared with Portugal. I never expected that. Just goes to show your weather reports in your recent Retire Overseas Index report were spot on."

--Bea D., Ireland

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Granada is built around a large, shady, and bustling town square, anchored by a stately, neoclassical cathedral at one end. The streets are narrow (built prior to the automobile) and lined with rows of those cheerful, well-kept Spanish-colonial homes.

Granada usually has a good inventory of colonials in a good state of restoration. Granted, colonials can be found in plenty of places around the Americas...but there are a few things that set Granada apart:

  • Prices are low when compared with colonials elsewhere in Latin America. Completed homes are a great value, and fixer-uppers are downright cheap...with inexpensive remodeling costs...
  • The homes in Granada tend to be smaller than in many cities, with one-story houses commonly available. This makes the houses brighter, with the single story allowing for more direct sunlight. The relatively small size of many Granada colonials is due to the fact that most of them—more than 90% of those on the market—were originally second homes or vacation homes that were ultimately sold to expats and investors...
  • Many houses here also have pools in their interior courtyards, something I haven't seen in other colonial markets...
  • Granada is completely walkable. Everything you need is close at hand via attractive, level streets...
  • The fairly large expat community and the active tourist trade mean a lot of amenities that a city of 120,000 would not ordinarily have. There are great restaurants, bakeries, hotels, and B&Bs that distinguish Granada from most cities its size...
  • Lake Nicaragua, with its beaches, fresh waters, and islands, provides a great recreational opportunity and a pleasant way to escape the heat. It's also great for boating and fishing, with a huge 3,100 square miles to explore...
  • Granada enjoys good connections to the United States from the nearby airport in Managua...
  • But best of all, Granada still feels authentically Nicaraguan. You'll see old oxcarts lumbering through the streets, restaurants serve local delicacies, and street vendors offer pottery handmade according to traditions that date back centuries and have been passed down generation to generation. The city is a unique blend of native Nicaraguan city life and expat amenities.

The rental market is good in Granada, especially if you have a pool. One home I looked at recently had an asking price of US$150,000 and rents for US$600 per week. Another cost US$389,000 and rents for US$1,500 per week. Occupancies can run between 65% and 75%.

The least expensive houses I saw were priced at US$35,000, and they needed a good bit of work. But for just a bit more, you can buy something that's fit for living, as is.

One such property is listed for just US$37,000. With one bedroom and one bath, this corner property is ready to move into with practically no work.

The best buy I found is a larger, two-story home with three bedrooms, four baths, a garage, air conditioning, and a swimming pool located just four blocks from the central square. The second-story bedroom has a good view of the city rooftops, as well as the extinct Mombacho Volcano in the distance. The asking price is US$145,000, but I understand that this one will go out the door for around US$125,000.

If there's a downside to Granada it's that it can be hot. I didn't really find it unpleasant, but I did sleep with the air conditioner on, as will most people.

Also, if you want to be a pioneer—one of the first few expats to discover a city—this isn't the place to do it. There are definitely a fair number of English-speakers already in residence.

If you'd like to invest in Spanish colonial property, or would enjoy the Spanish-American lifestyle, then Granada should be high on your list. Located less than two hours from Miami, the cost of living is low, the properties are inexpensive, and the inventory of colonial-style homes is unparalleled, especially at these prices.

Lee Harrison

Editor's Note: Today's essay on the property market in our favorite Spanish-colonial city, Granada, is excerpted from Lee's Overseas Property Alert. If you aren't on the list to receive this once-a-week dispatch on the world's top property markets direct from Lee's laptop to your inbox, sign up here now.

It's free.

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And on and on.

In all, we compile thousands of statistics related to the following 12 categories of consideration:
  • Climate
  • Cost of Living
  • Crime
  • English Spoken
  • Entertainment
  • Environmental Conditions
  • Existing Expat Community
  • Health Care
  • Infrastructure
  • Real Estate
  • Residency Options
  • Taxes

As Mr. Twain suggested long ago, though, statistics are a funny thing. Some pieces of data we've collected for each locale in our Index are straightforward enough—number of international airports, for example. Others less so. What's a museum? How many books does a building need to house before it's a library?

Some data points beg doubt. Who's counting the expats in residence in each of these places? Or surveying the local population to confirm who does and who does not speak English...and at what level?

In a country like Belize, for example, with three paved highways (in this case, that was one statistic I could confirm from my own experience), there's not a lot of room in the budget for polling and census taking. Coincidentally, I was in Cayo, Belize, as we finalized this year's Index. Driving to meet a friend one day, we passed the Statistical Institute of Belize. It's a single-room wooden shack that didn't appear to have electricity.

For this survey each year, we start with recognized sources—including the CIA Factbook, the World Health Organization, the International Monetary Fund, and WorldPopulationReview.com, for example. Our team in our Panama City headquarters spends weeks plugging numbers thus collected into spreadsheets, then figuring averages and ranking results.

That work done, they present their findings to Lief and me. We call in reinforcements, sharing those early results with key correspondents around the globe.

"How can you say that the per-square-meter cost of an apartment is greater in Medellin, Colombia, than in the City Beaches of Panama," wondered Overseas Property Alert Editor Lee Harrison after reviewing this year's initial figures...

"Those expat population figures can't be right," Lief responded...

"It's easier to establish residency in Thailand than these rankings indicate," Asia Correspondent Wendy Justice pointed out, "and I'd say that the residency program offered by the Philippines is one of the best anywhere..."

"The City Beaches of Panama can't finish that high in the rankings this year," I commented. "The cost of living in the extended Panama City region has risen too much for that to make sense..."

And so on.

Full disclosure: When our personal experience differed from what the statistics suggested...we went with our personal experience.

"Next year, maybe we should short-cut the whole thing," Managing Editor Kaitlin Yent, who has directed and overseen this mammoth project, suggested when all was said and done. "Maybe we should forget the statistics and jump straight to our experience."

We won't go that far. The published, formal statistics, such as they are, provide a foundation and give us something to react to. We know we must start there, then overlay some judgment.

Bottom line, where did all that figuring and comparative analysis land us this year?

We've shared our hot-off-the-presses 2014 Retire Overseas Index first with subscribers to my Overseas Retirement Letter. It comprises our bumper August issue, in subscribers' inboxes now.

Next, we'll reveal the results to attendees at this week's Retire Overseas Conference in Nashville. If you're among the hundreds of readers preparing to meet us in Music City, watch your inbox for a special email from Conference Director Lauren Williamson containing a link to the complete 2014 Retire Overseas Index online, including fully detailed budgets for each of the 21 destinations featured.

In addition, of course, we intend to detail the survey results for you, too, dear reader.

Watch this space.

Kathleen Peddicord

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"As we made our plan for where to go," Lee remembers, "the reality of what we were doing began to settle in. I was only 49 years old, for crying out loud. What if we ran out of money? I began to worry about being back in the States at age 75 looking for work."

Lee spent a lot of time running the numbers and, finally, he and Julie found the courage to make the leap.

"We satisfied ourselves," Lee explains, "that, in Cuenca, Ecuador, the city we'd focused on, my pension would allow us to live very comfortably."

Lee and Julie were pioneers. Two of the original Cuenca retirees, in 2001 they received Visa 1 and Visa 2 from the New York consulate when they applied for legal Ecuadorean residency.

"We lived in Cuenca for nine months before meeting another English-speaking couple," Lee says. "We didn't mind. We were having so much fun taking advantage of all we discovered that Cuenca had to offer. This is a very cultural city, with free symphony events, museums, and annual art shows.

"The best news, though, during those early months," Lee continues, "was the realization I had that the cost of living was even lower than I'd estimated. Cuenca enjoys great mountain weather year-round. This means no heat and no air conditioning. I had underestimated the effect of the climate on our overall budget."

The cost of living in Cuenca has increased steadily in the dozen years since Lee and Julie first took up residence. Still, this remains one of the most affordable options in the Americas. You can rent an apartment for as little as US$300 per month. More typical is US$500 monthly. Figure a total budget of US$1,200.

And you may, indeed, decide to invest in a place of your own. The cost of real estate in this city is one of the greatest bargains in all of Latin America, cheaper than in Montevideo, Uruguay; Medellin, Colombia; Fortaleza, Brazil; Panama City; or most any other Central or South American destination you might consider. You could buy a small city condo for less than US$50,000.

Gas, too, is cheap, and Ecuador is a great place for exploring by car. Lee says that he invested in a car soon after making the move, because he and Julie so enjoyed motoring around the country. He advises figuring an additional US$150 per month if you own a car.

One thing to remember about Ecuador is that this country uses the U.S. dollar. For an American retiree, this means it's easier to understand what things really cost; it's easier to keep track of what you're really spending, month to month; and, very important, you don't have any currency-exchange risk. You may still have local inflation to contend with, but you won't have to worry about that being compounded when the exchange rate goes against you.

Given his extended personal experience living and investing in this country, we're delighted that Lee has agreed to act as host for our upcoming Live and Invest in Ecuador Conference taking place in Quito next month.

The Early Bird Discount for this event remains in effect today and tomorrow only. You have until midnight Friday to save up to US$250 when you register.

Details on the program we've put together with Lee's help are here.

Kathleen Peddicord

P.S. Cuenca, Ecuador, home to a big and fast-growing expat community, qualifies as one of the world's top retirement havens and perhaps the best place in the Americas to live well and comfortably on even a very small budget.

In this colonial city recently, I filmed a brief video to give you an idea what Cuenca has to offer. Take a look.

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The waters in Maceió are warm and blue and calm thanks to a barrier reef just offshore. The beaches in town are clean and well kept, with fine sand and swaying palms. They're fairly busy, too, especially during holidays and weekends. But at the city's edge the crowds disappear...
leaving miles of uncrowded beaches fringed by palms and natural vegetation.

The property market here has performed well, and its growth looks to be at a sustainable rate. Prices for beachfront in Maceió have gone up about 35% since 2009. That's about 7% per year, which is respectable but, again, also sustainable.

And right now, thanks to the exchange rates, even though values have gone up 35% in Brazilian reais, the prices in dollar terms stand at 2009 levels. So it's a very good time to be looking at Maceió.

Ponta Verde is my personal favorite residential neighborhood here, its beach my favorite beach. Ponta Verde is the southern starting point of Maceió's best area for restaurants, the boardwalk, and the city's best hotels. It is also the start of a long stretch of sandy, palm-lined beaches heading north.

Jatiúca is adjacent to Ponta Verde and is Maceió's most popular area for visitors and travelers. Jatiúca starts at Ponta Verde and continues the same stretch of terrific beachfront northward. It's Maceió's best area for nightlife and has the highest concentration of hotels and resorts.

The Farol district sits on a hilltop overlooking the beach neighborhoods about 8 blocks away. Property prices are lower here, and you can find some with super views. Farol is definitely worth checking out if you enjoy ocean views, don't need to be near the beach, and would like to save some money.

Bottom line, prices in Maceió and Farol are deep into bargain territory.

Lee Harrison

Editor's Note: Correspondent Lee Harrison writes a free weekly update on key property markets around the world. His Overseas Property Alert dispatch this week features a complete overview of Maceió, including details of particularly appealing properties currently on the market. If you aren't receiving Lee's OPA yet, sign up here now. Again, it's free.

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Kathleen Peddicord

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.

Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.

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