Picture yourself on an open terrace, glass of wine in hand, as the cook serves up a thick, sizzling steak from the parrilla...

For a moment, you tune out of the lively banter of your friends...your eyes drawn to the fiery red sun, setting behind the distant mountains.

Soon the stars will appear, one by one, in the clear sky...illuminating the acres of grapevines before you, heavy with grapes that are ripe and ready for tomorrow's harvest.

As you take another sip of wine, you can hardly believe that this deep, fruity Malbec that caresses your palate came from grapes that were harvested just five years earlier...right here on your very own vineyard.

Dear Live and Invest Overseas Reader,

If you're having difficulty slotting yourself into the above scene, let me reassure you that this lifestyle can be enjoyed...and at a far more affordable price than you might think.

In fact, you can own your own "boutique vineyard" today (and enjoy all the prestige that comes with being a vineyard owner--including a respectable annual yield) from as little as US$10,000 an acre...and sometimes less.

Of course, I'm not talking about buying in California's Wine Country, where prices are affordable only to the multi-millionaire and celebrity set...

But this dream--the one I'm currently living--can be realized in an area that's being dubbed "the next Napa Valley"...namely Mendoza Province, Argentina.

Before I go any further--and explain just how you can take advantage of this wine-lover's opportunity of a lifetime--let me tell you a little about my own vineyard quest...

My name is Thomas Phelan. An IRA consultant by profession, I also speak and write on topics associated with living and investing overseas.

A couple years back, I read how George Soros was putting his money into Argentina's wine region...and it got me thinking. Following the devaluation of the peso, land was cheap--ridiculously so. Meantime, the world was starting to take note of Argentine wine...particularly Malbec. My wife Yvonne and I are wine-lovers, so a vineyard in Mendoza--Argentine Wine Country--made perfect sense...

The first major draw, of course, was the relative affordability of Mendoza. Living in California, we'd dreamed of owning our own vineyard for years. We watched prices in Napa and Sonoma go higher and higher...until they were well beyond our reach. Suddenly, we saw this opportunity to own an Argentine vineyard at a fraction the cost.

In Mendoza, we could buy a sizeable vineyard (a hundred acres or so) and still have the funds to pay a supervisor to manage the day-to-day work...to have workers come and harvest the grapes...and to work with a local winery to produce our own label. I can't even imagine what that would cost in Napa today!

Finally, here was a way to realize our dream. The idea of being the owners of a working vineyard really excited us both...strolling among our vines...watching the grapes mature...being around for the harvest (the best time to be in Argentina's WineCountry)...and, finally, being able to pour a glass of Malbec or Chardonnay from a bottle with our own personal label on it...while entertaining friends.

Though prices have increased since the years immediately following Argentina's currency devaluation...it's still extremely affordable as vineyard land goes.

Today, a 20-acre vineyard in Napa, California could set you back as much as US$7.5 million. Meanwhile, in Argentina, at current market prices, you'll pay just US$225,000 for a comparable vineyard with a similar grape yield.

That's US$375,000 an acre in Napa versus US$11,250 in Mendoza. Or, in other words, a Mendoza vineyard can be more than 30 times less the Napa price tag!

And, if you plan on spending any time on your vineyard, you'll find that affordability isn't restricted to the price of land. The cost of living itself is low...

You've probably heard Argentina likened to Europe...at a fraction the cost. Again,while prices on everything from a cup of coffee to a tank of fuel are on the rise (most noticeable around Buenos Aires), it still offers a cost of living more affordable than most places in the U.S...and, your dollar will certainly go a lot farther here than in most European cities.

Because of the lower cost of living, you can afford a much better lifestyle. Almost anywhere in Argentina, you'll find (for the same monthly budget you live on in the U.S.) you can eat out a couple of times a week at good restaurants...own a bigger home...keep a maid and a gardener...pursue your favorite leisure activities...and enjoy all those little luxuries you'd otherwise miss out on.

Of course, a major advantage to owning productive land--as opposed to other types of real estate investments--is the annual yield you'll receive from the sale of your grapes.

While a vineyard investment is no get-rich-quick scheme...or likely to turn you into a multi-millionaire overnight...the potential returns you can expect are not to be sniffed at...

As a conservative estimate, you could easily yield about 6% a year...though returns of 8% to 12% (even 15%) are not unheard of in Mendoza right now. Compare these figures to a traditional investment such as your average bank CD, which returns 4%, and you can see how worthwhile a vineyard investment can be...plus, you have the advantage of the capital appreciation of your land (more about that in a moment).

Really, your potential yield comes down to your level of involvement in the wine-making process...

At the lower maintenance end of the scale, come harvest time, you can sell your grapes to a local winery...end of story. Or, you can have a winery turn your grapes into wine, bottled and labelled for you...

The latter will require a higher capital investment...but, when you consider that an average bottle of Argentine Malbec sells for US$15 on U.S. shelves, the payoff can be huge. (Plus, you get to drink the wine that came from your very own vineyard. Personally, I can't think of any investment that's more satisfying.)

Of course, you don't need to decide your strategy from the get-go. One harvest, you might decide to just sell the grapes...and another, to go through the whole process until you have your own labelled wine.

And, no matter which course you choose, you still have the benefit of owning your own private vineyard in this stunning area of Argentina's wine country...and the extraordinary lifestyle it affords.

In addition to the lifestyle benefits and affordability, what also appealed to me about owning a vineyard in Mendoza was the potential capital appreciation of my vineyard land. Worst-case scenario, if all went pear-shaped--thanks to a number of bad harvests or a drop in grape prices--and we'd little to no profit on our grapes, I'd still be the owner of a sizeable chunk of land...in an area that continues to attract more and more attention.

Five years ago, land prices were rising as much as 30% to 50% and more year on year. Though the rate has slowed, right now, you can expect about 10% capital appreciation a year...which, on a worldwide scale, is pretty decent.

In fact, with real estate growth slowing in most world markets, many investors are turning away from pre-construction plays in places like Panama City and Dubai...and instead taking a "back to the land" approach.

Earlier this year, Jim Rogers claimed that the only investment that makes sense right now is productive land. "Buy agriculture," Jim proclaimed. "Agriculture is one of the few places where you're going to make a fortune in the next years."

And Jim's advice is well founded. Despite the increased pinch to the consumer, the increase of food prices across the globe has had a positive effect on productive land values. Bloomberg recently reported that "farmland, from Iowa to Argentina, is rising faster in price than apartments in Manhattan and London for the first time in 30 years."

Now is the time to grab your acres of Argentine vineyard...before prices start to catch up with Napa.

In a country renowned for its dramatic landscapes, the Mendoza Province--in Argentina's Cuyo Region--is no different.

Aconcagua, the highest peak in South America, towers above this area of fertile valleys, pristine lakes and rivers, vineyards, and orchards. Its national parks, with red sandstone canyons and dry lake beds, protect dinosaur tracks and fossils dating from 120 million years ago. This all adds up to a spectacular backdrop, which, in my book, makes an investment here even more special than any place in California's Wine Country.

Responsible for producing almost 70% of Argentina's wine, it's the region's setting--right at the foothills of the Andes--that affords it the perfect climate for growing vines. Infact, due to the high altitude and low humidity of the area, Mendoza's vineyards rarely face the problems of insects, fungi, and other diseases that affect grapes in other wine-producing countries around the world.

Mendoza is an ideal base for exploring the rest of Argentina, too...from cosmopolitan Buenos Aires...to the rolling pampas...to the ski regions of Patagonia. Plus, you're only a few hours from Chile's capital, Santiago. The airport in Mendoza City offers a number of direct daily flights to B.A. (about two hours away)....perfect when you need a taste of big city life.

Argentina is a first-rate sporting ground, and, here in Mendoza, you'll be spoiled for choice with ways to while the hours away...from horse-back riding to hiking...climbing to mountain biking. Wine lovers will appreciate the many wine museums, tours, and tastings. Cities like Mendoza and San Rafael offer plenty of options fornight-time entertainment among their bars, restaurants, theaters, and jazz and tango clubs.

Mendoza hasn't earned the title "the next Napa Valley" for nothing. Not only is the region comparable to America's wine capital for both the volume and quality of wine produced, it's also emerging as one of Argentina's top tourist destinations.

Some wineries--and an increasing number of vineyards--are starting to open up onsite accommodation and restaurants, aimed at wine-lovers who are starting to take note of the region and coming down to avail of the many wine tours and tastings on offer.

What does this mean to you, the vineyard owner? As more of these visitors snap up boutique, turn-key vineyards, it should bode well for the capital appreciation of your land. Plus, if you've always fancied the idea of running your own guesthouse, there's the opportunity to fulfil on that dream, too.

It's impossible not to fall in love with this region and its wonderful lifestyle. It's a place that will call you back year after year...for a fortnight, a month, or even more...somewhere you might spend significant time in your retirement. With reverse seasons to the U.S., you could enjoy year-round spring and summer by alternating between both.

Yvonne and I were so enamored by Mendoza, we decided to take up full-time residence here...setting up home among the vines near the city of San Rafael (about two hours from Mendoza City).

For us, Argentina offers a way of life that's becoming increasingly difficult to find in 21st-century America...and, indeed, in most of the world's developed nations.

Argentines value family life and enjoy socializing with friends late into the evening. Sunday afternoons are reserved for the asado (barbecue), where oversized portions of meat are cooked and feasted upon by all the family. Dinner in Argentina is a slow affair, often starting as late as 10 p.m. and stretching over three hours...washed down with plenty of wine, of course. You'll find that nobody watches the clock...time being tertiary to good food and company.

And, we feel safe in San Rafael. The city of 170,000 people (including a growing number of expat families) is a place where you can comfortably walk the streets, day or night...and crime is practically non-existent (though we do exercise the same cautions we would in any city in the world).

Based on the land prices I quoted earlier, you'd be forgiven for thinking that your vineyard would be producing little more than an average plonk to help wash down your over-sized steak...

Though, traditionally, Argentines were responsible for consuming as much as 90% of their own grapes, that's beginning to change. In the last decade, the export industry has taken off, with Mendoza emerging as a major player among the wine capitals of the world.

Argentina is the largest producer of wine in South America and the fifth-largest in the world. A recent article in Wine Spectator magazine dubbed Argentina "the 'sleeping giant' of the global wine industry. "But the reality is that this giant has already woken.

Though there is still a demand for table wine among the locals, increasing numbers of Argentines have acquired a more discerning palate. This trend--along with international demand for Argentine wine--has fuelled an industry committed to the production of fine wines. Today, Mendoza is just as renowned for its quality wines...as it is for its quantities.

As you shop for your vineyard, you'll be presented with acres of Malbec, Chardonnay, Syrah, Cabernet Sauvignon...all of which receive great worldwide acclaim.

Malbec is, of course, the signature grape of the region. The vintages produced here are appearing in wine stores, supermarkets, and on restaurant lists in the U.S...and beyond. The grape produces a wine that is rich, dark, and juicy...with a distinct plum-like flavor. As a varietal, it creates a deep, intense wine, so is often blended with other grapes such as Merlot and Cabernet Sauvignon.

Wine critic Robert M. Parker Jr. had this to say about the grape...

"Malbec will make it big. By the year 2015, the greatness of Argentinean wines made from the Malbec grape will be understood as a given."

If you're starting to worry that you don't know the first thing about being a landowner, let alone how to run a working vineyard, let me assure you that you don't require any farming background whatsoever. Nor will you need to learn to get to grips with a tractor...or any other farm machinery for that matter.

You don't have to get your hands dirty at all, though the option is there. (If you've always fantasized about crushing your own grapes with bare feet, nobody will hold you back.)

In fact, you can live thousands of miles from your working vineyard...let somebody else worry about the day-to-day maintenance...while you look forward to your annual profits.

While you don't need any qualifications per se, there are certain things you'll need to know--factors that are critical to your success--before scouting and purchasing your vineyard.

Case in point: Yvonne and I spent 18 months scouring the length and breadth of Mendoza Province before we settled on our own 108-acre vineyard in San Rafael. And we weren't just admiring the surrounding scenery! During that time, we encountered every imaginable problemfrom right land/wrong price (over-priced) to right price/wrong land (notsuitable for vine production).

The truth is that the market downhere in Mendoza (and pretty much anywhere in Argentina) isunder-developed...and often under-valued. While this is good news to you, the investor, it means that you have to exercise extra caution. In Wild West markets such as this, you, as the gringo buyer, are more vulnerable than ever.

We met sellers who suddenly opted not to sell...sellers who realized they couldn't actually sell...sellers who, without any warning (or apparent reason) decided to up the sale price...and sellers who just couldn't prove they were the rightful owners.

There were times when it would have been much easier to give up and return home. But we reminded ourselves of our dream...and focused on the wonderful lifestyle that could be ours...once the right vineyard...at the right price...turned up.

Now, I've written The Argentine Vineyard Buyer's Guide so you, too, can own a piece of world-class vineyard land...without getting burned. Once you're prepared for what lies ahead in this Wild West market, you'll be well on your way to finding your perfect piece of Argentine vineyard.

Here I must point out that The Argentine Vineyard Buyer's Guide is not a guide to wine tasting, wine selection, or a comprehensive history of grapes. (You'll find plenty of resources out there to help you understand the intricacies of viticulture and viniculture.)

I've written this guide as a roadmap to help smooth the buying process for you. Drawn on my own personal experience--often learned the hard way--of scouting property and planting my own vineyard, I outline everything you need to consider before you even think about touching down in Argentina's Wine Country.

By reading The Argentine Vineyard Buyer's Guide, you'll discover:

• How an Argentine vineyard investment makes sense in these days of global economic uncertainty
   
• How big your vineyard should be...and how many bottles of wine you could expect to yield from planting 5, 10, 20 or more acres (You'd be surprised at the number of bottles you could expect from a small 5-acre vineyard. I'll tell you the exact number in the guide. But, to give you an idea, you wouldn't drink your way through that number in a year...and probably not even in a decade (unless you're planning a serious number of dinner guests)
   
• How to build a vineyard from scratch (should you wish to take that route)
   
• What exactly an agronomist is...and why you should engage the services of one

One of the biggest decisions you'll need to make is whether to buy an existing vineyard...or build your own from scratch. Obviously, raw (blanco) land has the immediate attraction of being cheaper. But, should you decide to go this route, you'll need to factor in your planting costs. And, have you considered whether your land is actually suitable for planting vines? (Hint: Even in Wine Country, land isn't always suited to vinecultivation.)

In The Argentine Vineyard Buyer's Guide, I'll talk you through all you need to know about planting a vineyard from scratch, including:

• How to figure your planting costs (again,this only applies if you're not buying into a ready-made, productive vineyard)... Here you need to factor in the cost of clearing your land...how you plan to water your vines...your choice of grapes...fertilizing the land...hiring help...and more. I'll discuss your options for each of these tasks and give you sample costs, based on today's market...then we'll add them all up to figure your total planting cost.
   
• The advantages to owning blanco land (the biggest, of course, is that you get to decide what grapes (and other crops) to plant
   
• How much a pound of grapes will fetch at market
   
• How to estimate your annual maintenance costs
   
• How to figure your potential return on investment of your blanco vineyard

The big advantage of buying an existing, working vineyard is that you are spared the wait involved for your grapes to sufficiently mature. That said, it's not necessarily an "easy option." When scouting existing vineyards you need to be just as vigilant as when scouting blanco land...maybe even more so. In The Argentine Vineyard Buyer's Guide, you'll learn:

• How to go about due diligence on an existing vineyard...particularly with respect to past performance (Note: Vineyard owners are notorious for exaggerating everything from the total kilos produced in a previous harvest...to the actual price received for the grapes)
   
• What ghost grapes are...and why you should steer clear of them
   
• The implication of having an existing house on a vineyard...and how this will affect the overall price
   
• The implication of having a worker's house on a vineyard
   
• Determining the vineyard's potential yield
   
• How to purchase your Argentine vineyard...made easy

As I've mentioned, Yvonne and I hit many bumps in the process of purchasing our vineyard. Was it worth it? Yes...but I wouldn't wish our experience on anyone. In The Argentine Vineyard Buyer's Guide, I'll help you get your head around the complex purchase process...and save you a lot of hassle and frustration. In a chapter dedicated to the purchase process, you'll discover:

• The effects of the U.S. downturn on Argentine property and land prices
   
• Whether you should use a real estate service or agent...and the associated costs of each
   
• How to navigate this lawless Wild West market...where "agents" are not necessarily registered or qualified
   
• How to hire an escribano...what his job entails...and how much you'll likely pay him to act on your behalf
   
• What's involved in a new survey on your property...and why you need to have one
   
• How the money changes hands. (Like many undeveloped markets, cash is king. Unless you're accustomed to dealing in large chunks of notes, you're in for some entertainment come closing!)
   
• What happens at the closing
   
• How to figure the actual purchase price (figuring in third-party fees, etc.)
   
• Buying title insurance (yes, it's available in Mendoza with a U.S. title company)
   
• How to engage professional help to see you through the process (here I provide a chart of up-to-date sample fees covering everything from what you'll pay for a property finding service to a financial analysis of your prospective vineyard to the cost of soil and water analysis.
  

While you don't need to be on your property 365 days a year, you can't expect the vineyard to run itself either. Unless you relocate to Argentina full-time and are there to watch over the day-to-day management, much of your success depends on the reliability of your vineyard manager. The Argentine Vineyard Buyer's Guide will help you:

• Decide whether to hire an agronomist or vineyard manager to oversee the day-to-day work
   
• Figure the cost of hiring a vineyard manager
   
• Identify the five key qualities you need to look out for in hiring a reliable vineyard manager
   
• Figure how much you'll pay a vineyard worker (should you need to hire one)
   
• Understand your obligations (if any) to workers already employed on your prospective vineyard.

Having gone through all the tough work involved in scouting, preparing, planting, and putting your vineyard management system in place, it's finally time for the fun stuff. Come harvest, you get to decide the fate of your grapes. In The Argentine Vineyard Buyer's Guide, I'll provide you with information to help you:

• Organise your trip to make the most of the harvest
   
• Determine your annual exit strategy (whether to sell the grapes...or work with a local winery to crush, ferment, age, bottle, and label the wine for you).
   
• Consider the associated costs in going through the process from harvesting the grapes...to having your end product (that bottle of Malbec or Chardonnay with your own personal label)

In planning your investments, it's unwise to put all your eggs in one basket. Just as you'd be ill advised to put all your money in one particular stock, you maybe setting yourself up for disappointment were you to plant your vineyard 100% in Malbec grapes.

What happens if you run into a season of unrelenting hail? Or the conditions just aren't right for Malbec grapes? One way to protect yourself is to plant a variety of grapes...maybe two or three different types.

But, let's think a little outside the box. While grapes are the obvious choice, there's more you can plant on your vineyard land...and, for the sake of diversity, I'd strongly recommend it. Then, if you've a bad grape harvest (for whatever reason), you've something else to fall back on.

In fact, once you start scouting vineyards in Mendoza, you'll find that most of them come with other fruit trees already planted. The province offers the perfect climate to cultivate a wide array of crops, but the most popular are apples, pears, peaches, tomatoes, onions, cherries, plums, and olives.

On my own vineyard, I've planted Malbec, Syrah, Chardonnay, and Cabernet Sauvignon...as well as a wide variety of fruit trees and vegetable plants.

In The Argentine Vineyard Buyer's Guide, I'll share with you:

• The dangers involved in putting "all your grapes in one basket"
   
• My favorite diversification option that can earn you up to 23% ROI
   
• A second diversification option that can earn you around 12% to 15% ROI
   
• The costs involved in planting these other crops...and the prices you can expect for each

Remember, the window on Mendoza's affordability is closing... Tourists are starting to show up down here and snap up boutique vineyards and second homes. These US$10,000 an acre prices won't last much longer.

Now is the time to get started on your vineyard adventure. Order The Argentine Vineyard Buyer's Guide today, and, this time next year, you could be sitting on your very own vineyard...amid the cherry, peach, and olive trees...popping open a bottle of wine from the previous year's harvest.

The Argentine Vineyard Buyer's Guide, on offer at US$69, is published in electronic format. This means, once you complete your order, you'll receive (within minutes) an e-mail with instructions on how to download the report. No waiting for the mailman...and no shipping and handling costs. Grab your copy here.

Somewhere in Mendoza, your ideal vineyard awaits. I wish you every success in your adventure...

Sincerely,

Thomas Phelan
For Live and Invest Overseas

P.S. As with many things in life, your success as a vineyard owner often comes down to who you know. And, in purchasing, maintaining, and harvesting a vineyard (especially in this Wild West market), you need to have the right contacts for it all to come together. From the agronomist to the real estate agent...escribano to vineyard manager--you'll learn the function of each, what to look out for in selecting a professional to work with...and, best of all, I'll provide my own "little black book" of trusted contacts. Get your copy here.