In this week’s episode, Lief Simon answers questions about the changes in the investment market in 2020, investing offshore, how to prepare for an international trip, and more!
Here are the questions from today’s Live and Invest Overseas Podcast episode:
#1: Peter K.:
In my observation over the past decades I’ve noted that many “non premium” property markets can nosedive after “an event” (eg: the 2008 GFC). I’ve also observed that the said property market experiences a delayed hysterical effect and thus I’ve seen property prices continue to decline for approximately two years before recovering and commencing to resume the price climb once more.
I’m of the opinion this time is again upon us the “event” on this occasion being the COVID pandemic. So although I’m thinking of buying investment property now experience tells me to wait for at least 12 to 18 months more and let this play out as history has taught me in the past. Your thoughts on this, please? Do you feel the time is good now or would it be best to wait for the hysterical effect to avoid possible/likely near-term decline of property prices and thus get in somewhere near the bottom of the curve (not at the bottom, which I know is nearly impossible to pinpoint in real time).
#2: Teresa M.:
Thanks for this article about Portugal! I had a scouting trip to Portugal planned for earlier this year that was derailed by the pandemic. As soon as the opportunity arises I’m going! I’m interested in the northern part of Portugal, not the Algarve. Can you recommend what I should be doing now, while I’m waiting to be able to take my trip? Thank you so much in advance.”
#3: Dennis N.:
I really enjoying your articles! I have a question about real estate investing overseas. I live in the U.S currently, which I don’t like, and I was thinking of investing here. I don’t have any experience with international real estate investing. I have 100k in liquid assets saved. Are overseas investments better for cash flow than U.S.? Do you have any suggestion where to start or look since you have so much experience? Thank you much.
#4: Larry G.:
You need to redo your figures on the income requirements for Mexico residency. Consulate in Tucson says you need $1,650 per month or $45,000 in savings for one year.
You are correct. Figures were changed in February of this year. In addition, though, note that the figure varies by consulate. The figure for Sacramento, for example, is $1,500 per month. You’ll want to get the number from the consulate where you apply.
#5: Emilio P.:
Glad to hear you are updating plan B. This would be great time to inform us of the countries that require yearly stays to grant or maintain residences just like you did recently with the background check so we can make a more informed decision. I have never seen a list of countries that do not require it, if there are any. I have seen where you mention the time required by some countries. Bottom line are there any countries that do not require yearly time to spent in the country to get or keep a residency visa?
#6: Liz D.:
I am interested in moving overseas but am wondering about closed borders. Right now, I couldn’t pick up and move to most places I am looking at, even if I had the immediately-accessible means. While we can expect borders to open eventually, the U.S. response to COVID and the possibility of a political wildfire going out of control in November (up to or including civil war regardless of who wins) make me question if all of this is so much wishful thinking. Those with vast wealth are cushioned against such concerns, but I am not… and maybe many of your other readers are of middling-modest means also.
#7: Judith S.:
You state that the Golden Visa in Greece give you “access” to countries in the Schengen Zone. Does that mean you can also live anywhere else in the zone?
#8: George M.:
Where can I find a form or checklist that I can check my interests and desires and needs… to help me find the best place for me?