Big real estate investor getting out of US

[Olav23]

Big real estate investor getting out of the US.

http://www.fortune.com/fortune/investing/articles/0,15114,1117911,00.html

Interesting read, if for no other reason then to hear of a man most people aren't familiar with.

 

[JPatrick]

He is singing that same song about bad condo deals and to much dumb money chasing to few deals.  We sure are getting lots of warnings aren't we?
He has a very fascinating story, another kind of "American Dream" senario.
BTW, Fidelity recognized the potential of foreign real estate a few months back and launched a new fund FIREX.  I bought it, and so far it is OK, but nothing to write home about. 

 

[HFWR]

Bought IGR last spring; price/cap gain flat, but ~8% divvy. Of course, it's fairly heavy in USA RE.

 

[Olav23]

I think the story was the interesting read. I'm trying to become more of a contrarian, but I'm not sure if that means I should ignore the prevailing thoughts lately and invest in US RE, or go with the other half and move to offshore RE. I really think the internet makes it harder to be a contrarian, since EVERY DAMN OPINION is expressed in either direction. Get out the sky is falling!!! Now is the time to go all in!!! :

 

[TromboneAl]

Well, I see a lot more "Lookout, it's a bubble" than "The sky's the limit." Perhaps that's just because I hang out here with these here cognoscenti.

 

[JPatrick]

Aw shucks, 

 

[ESRBob]

BTW, Fidelity recognized the potential of foreign real estate a few months back and launched a new fund FIREX.

The name alone should make us all want to look into this fund