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I'm heavily involved in the international market currently. I've sold several domestic properties, and I'm making a move to "other" places.

IMHO, The United States is in the beginning of a long, cool cycle in terms of real estate growth.

I think investors enamored with the idea that seventy-four million baby-boomers entering retirement would demand vacation properties, second homes, and great retirement opportunities have jumped the gun in domestic development to stay ahead of the trend.

The result is that most of the great destinations in the United States already have the anticipated retirement trend “built-in” to the pricing which leaves very little appreciation left for the end buyer. What’s worse is that many of the great destinations have an oversupply of new units which means not only is there little chance for appreciation, but end buyers may actually experience a decline in property pricing.

Markets like Las Vegas where The Greater Las Vegas Association of Realtors recently reported that the median price of existing homes sold in December was down 2 percent from December 2005; Jay Butler of the Realty Studies at Arizona State University’s Polytechnic campus released his monthly report for December 2006 that shows that Phoenix, like Las Vegas has seen its median home price retreat 2% from $260,000 to $255,900- the lowest median price since July of 2005.

I also see global trends and tax advantages leading people offshore. We're also much more accepting of the reality of globalization...=globalization, a dramatic increase in travel, and the ‘democratization of wealth’, and the oppressive tax regimes of the industrialized nations that are choking on the tab for their massive social welfare programs has led to an increasing popularity of international real estate destinations.

There are plenty of people where I live (Naperville / Aurora IL area) that are starting to wonder if they shouldn't spend $800 a month on a household staff for a beach villa in the DR instead of $800 a month on property taxes. It's a tough question that US investors, and residents are going to come up with interesting answers to over the next decade or so...

I, too live in Chicago. I'll be moving to open an office in Fort Lauderdale / Miami area in August of this year. 900 to 1,300 (depending on your source of information) people per DAY can't be wrong. I'll send you a post card.

I'm not only tired of chipping ice-- but I'm real tired of paying 3% of my income for the privilege.

BTW- I just picked up two properties in Palm Bay w/ 100% owner financing for five years. Right time, right place-- guy is an investor going back to Mississippi.

Florida has a lot of little pockets of real estate that are lower priced, and still represent great opportunity.

Actually, about a month ago I decided I don't have faith in the founder(s) of SB Solutions, and I no longer recommend anything by SB Solutions, including Profit Tiger, Profit Tiger Pro. In my opinion it's a good idea, wrong team.

I can tell anyone who cares to listen firsthand that when someone wants to rip you off, and you didn't do better due dilligence up front, and didn't take steps to protect yourself your best bet is to get over it and move on.

The worst part about that whole deal is to stay wallowing in all that bad energy. Get stuff like this out of your life as soon as you possibly can.

There are so many platitudes and bumperstickers about success that I think ours gets lost in the fray. The fact is we thought long and hard about the WCRT tagline "Success by Association". One of the things that was missing for all concerned (Newsweek notwithstanding- but it was an AD) is an objective, experienced, successful investor looking over your shoulder at this deal.

Again, this is NOT PERSONAL, or an attack, or a look down upon the investors.

I'm simply re-stating my original and unwaivering opinion that there was a lack of real due dilligence here.

That being said, my next opinion is that you need to move on. You lost. Lump it, and move on. I'm not saying you shouldn't make some modest effort to recoup, but odds are you will not- so don't make it the cause of the rest of your life. You gotta pick the hill you're gonna die on carefully, and speaking from experience sueing and being sued-- this ain't it. Move on.

As to Success by Association-- I'm always trying to define the benefits to folks. The issue is that it's always somewhat difficult to define, and it is almost impossible to measure and predictably repeat the results. Until last night.

Last night I couldn't sleep so I was up watching Animal Planet. Predictably, there was the lioness on the hunt. I noted while I was watching that the lioness hunters went after the healthiest wildebeast in the middle of the herd-- oh, no wait, no they didn't. They carefully separated their prey from the herd- a smaller, weaker animal without the benefit of strength in numbers. We as human beings wax romantic about the "lone wolf" but even successful wolves hunt in packs. Build a strong network, and it's much more difficult (and costly) for con artists to pick you off.

Actually, your insurance is underpriced. Sorry, but you've given the free market economist in me a flare up. :lol:

The fact is that if property owners in high risk areas were completely responsible for the risk they represent, there would be fewer of you living there.

It really chaps my frozen a** that I'm up here chippin' ice so I can subsidize those of you that keep building and re-building on the glorious sand-bar called Florida. :wink:

Then there would be fewer of you, and the economic consequences of your existence to the rest of us would be minimal. :beer:

And this is from someone that loves it down there and is going to live there myself.

MSN has been ripping me off for years! :lol: Liz is a really nice person otherwise.

I did it over the phone- but obviously I can't speak for every creditor.

I'm DIY right now, but let's be clear: I didn't get into real estate to "press the flesh with tenants" and even now I have a COMPANY that handles the management, and when they meet me, they meet me as a manager and have NO IDEA I own the properties.

My advice: Keep tenants at arms length. Once they get to know you, they think you're buddies and for some inexplicable reason "buddy" in tenant land is someone you screw over :lol:

But seriously...don't cozy up to tenants. Makes it harder to make the hard decisions-- for all concerned.