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Buying property in Turkey/asset diversification -- first time poster

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  • #16
    Originally posted by Jack_Sparrow View Post
    I know a guy who did some business in Turkey and he says there is alot of "third world corruption" going on over there.
    Is that better or worse than first world corruption?

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    • #17
      I personally wouldn't risk purchasing real estate in a foreign country unless I was extremely familiar with that country and its culture (and it sounds like the OP is not that knowledgeable about Turkey). It's just too much uncompensated risk. If exposure to foreign real estate markets is what the OP desires, I'd recommend an international REIT fund.

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      • #18
        Originally posted by artemis View Post
        I personally wouldn't risk purchasing real estate in a foreign country unless I was extremely familiar with that country and its culture (and it sounds like the OP is not that knowledgeable about Turkey). It's just too much uncompensated risk. If exposure to foreign real estate markets is what the OP desires, I'd recommend an international REIT fund.
        ** THIS ** (I hold VNQI, which has been an underperformer during the past 1+ years, though to about the same levels as domestic REIT ETFs like VNQ/SCHH)

        To the OP: I think someone been watching too much Nomad Capitalist on youtube (good channel, I grant you, but overplayed). I wouldn't mind buying something in Eastern Europe in my homeland or my business partner's home country both outside the old stodgy EU block, but only under the right circumstances. My criteria: no rent income and therefore non-reportable, regular 2-3 month over there each year summer that could be a vacation HQ, and for the rest of the time it being a residence to my ambitious, young but undercapitalized cousins. But since those strict criteria are not likely to be met (particularly the 2 months vacation), and we are planning to do this "on the cheap" by sending out kiddos over there to cousins to learn the language anyway, I think I will pass on any formal real estate investments. And if I am not going to do it -- with citizenship, language, knowing the real estate market and legal protections and having locals "on the ground" to take care of any issues that arise, neither should you.

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