I am on hold for buying any other properties in the USA

[Account Closed]

Venezuela outlawed ownership of more than 2 properties. The rest the government stole. Living in Illinois (currently) I am concerned about taxes. All my renters are working and on time with rents. The exodus out of Chicago is pushing prices up in the surrounding suburbs which was my original strategy for selling out and buying in better managed states. I still like RE but need to diversify internationally as well. Peurto Rico looks good now but if they become a full state status tsxes will go up there too.

Any thoughts or what are you doing?

[Joe Splitrock]

@Account Closed your post is all over the place. Lets unpack each comment and try to figure out what will work for you:

- Venezuela outlawed ownership of more than two properties. I am not sure Venezuela was a great place to invest aside from this. Are you concerned what happened in Venezuela will happen in other countries? 

- Illinois you are concerned about taxes. This probably means look at states with lower taxes.

- Exodus from Chicago is pushing up prices in surrounding suburbs which hurt your strategy of buying in better managed states. I don't follow this comment, are you saying you wanted to buy in Wisconsin or Indiana? You say suburbs and states in the same sentence.

- I still like REI and want to diversity internationally. You mentioned other states before. Going to a totally different country opens up other challenges. Lots of investors outside the US, prefer the US. Peurto Rico has a run down infrastructure and corrupt government. If they achieved state hood, it would greatly improve the quality of living there AND increase property values. Also be aware Peurto Rico has the added risk of tropical storms, which can hurt your investment.

My overall thoughts are that investing in the US is safer. I am usually a fan of investing closer to where you live, but if your area is expensive, undesirable or has bad regulatory environment, I can see looking at another state.