Hello Blue,
There is much sound advice which has already been given here I think.
To my mind, the market that one understands best is always going to be the one where one lives. Maybe repossessions could be an option - you could sit in on a couple of auctions, see how they work, and by visiting property in the area you can get a good idea of the going prices. Then, when you see what is possible, you can aim for that.
The US can be enticing but unless you plan to go live there, and get the feel of the place, I can't see that for you either. If you plan to buy rental property (on the eve of a possible recession???) you will also have management fees to deal with, on top of everything else.
Perhaps one solution would be to opt for undevelopped property in an area which is moving at a fast pace. I recently invested in Costa Rica because a person in whom I have total faith (a family member) strongly advised that I do so. The country is very stable and they are very strict about planning because they are keen to preserve their natural heritage. If you would like to follow this up, I can give you the email address and telephone number of the person who has been advising me, and who will be glad to share the information that she knows about her area with you. Transactions take place in US dollars so that means that currency instability (other than that affecting the dollar itself) is not a problem. With the recent equity market turmoil people just might be afraid of the stock market for awhile and this could bode well for more insulated investments such as these. Let me know via the Private Messaging (PM) system on this Forum if you would like contact information.
Good hunting,
Neustria
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