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Termyn8or -> RE: How To Get (More) Rich Investing in Iraqi Real Estate Development (4/6/2017 11:07:42 AM)
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Well, I won't be investing. The country is still busting at the seams for a civil war. It really should be cut up into three or four countries. Now the government is getting tough on that shit, like Saddam was. We are back where we started except they are not switching to the euro, which was what the last war with them was really about.
What's more, good countries limit foreigners owning real estate, or forbid it. Of course not the US. But then I would not invest in the US either. They created the real estate bubble here by fooling people into thinking that when their payments go up, their salaries would go up. But they knew. And now their holdings are quite increased. See how that works ? Even Trump got suckered into a few bad deals and he is supposed to be an expert on the subject.
And in the end, you own nothing. You get issued a deed by a government you are simply a holder. If you do not pay the taxes which are pretty much rent, they take it away. I the US there are a few legal tricks that can put a stop to that but using them makes you a target. And no such tricks even exist in most countries. And then if you do it, you have to somehow manage that property ten thousand miles away. I have no idea why Trump does it but he seems to make money.
But wartorn Iraq ? Putting up a hotel in Saudi Arabia, which is pretty much stable is one thing. But try it in Syria for example. Iraq is not much different. There are still insurgents though they have been quiet lately. Give them an American target and they might just act. Where do you get insurance for that ? Lloyds of London ? You'll pay through the nose for that.
No, I would pass on that. If the People there did not hate us so much it might be different, but I forsee trouble in such a venture.
T^T
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