Hi Jain & Chris,
Thanks for the positive post. I have a mild interest in Bulgaria, and last year on vacation in Syria, I visited the commercial attache in the Bulgarian Embassy, and was so pleasantly surprised that he took a long time to talk to me about the pros and cons of Bulgaria. Ultimately, my property interests in countries I am now investing have taken precedence, so unfortunately, it may be a while until I visit Bulgaria.
But to add credence to what you say, I spent 11 years in Damascus as an oil company manager, and met my wife there. We have five property investments in Syria (a bit tough for most since only Arabic people can own property there, but my wife is a national, so that's OK).
I do think that people really need to visit a country, more than once and more than for a 3 day inspection trip, before they decide to invest there. If you truly see yourself returning again and again, and you are patient not to buy up the first "new hot spot" property that is dished up in such eloquent gossy brochures, you will be satisfied with your investment regardless of whether or not it performs as per the glossies.
I have a friend who, over the last five years, has accumulated 17 properties in 8 countries. I asked him whatever possessed him to want to diversify his portfolio to that extent, and how he is going to keep track of the tax reporting and arms length management of those properties. He did admit that he had to now consider consolidation. Had he mapped out his investment plans before going on the worldwide spending spree, he would have contained his investments to two, possibly three countries.
So for anyone who concludes that they want a personal association with any foreign country, go for it. Investors just have to be careful not to spread themselves too thin.
