[quote=FlyerInHi]ER, I think there is a growing global upper middle class for whom an American education and speaking American English is a rite of passage, and they have the ability to pay for it. They are not filthy rich corrupt politicians but solidly upper middle class professionals and business people.
That means that large American cities where there are seizable immigrant communities (people like to find familiar stuff from back home) and good quality of life will be attractive.
I’ve met families where mom and kids would relocate to America for education while Dad stays and works back home
Internationally, in developing economies, the middle class is growing. That bodes well real estate prices.
There will be cycles. So my motto is to buy right after a crisis in locations where you know you can manage and/or enjoy the properties. I have a couple more cycles before i die.
BTW, one condo that I wanted to turn VRBO, I will lease out first. Then I’ll use that rental income to remodel after the tenant moves out. The carpet was still decent so I’ll let the tenant destroy it before I rip it out for hard flooring.[/quote]
Yep. I totally agree. As a pilot, I assume you have a GREAT experience going all over the world and meeting interesting people from all walks of life in many countries.
Having an office abroad and having lived abroad for almost a decade, I see the same types of things. Really in many countries their government is rife with fraud and abuse. NOTHING compared to the USA. We have NOTHING to complain about compared to these countries.
As well, for many people it comes down to safety. Many of these people want to own a second property in the USA as it’s safe here compared to their home countries. Here again, we have nothing to complain about, especially here in San Diego where it’s VERY safe.
Great about the VRBO property. Feel free to PM me if you have any questions about short-term rentals. I feel like I’m a PRO in that field. Good luck with the rental.
