NOT the asset.. owning the asset and living off shore is not a good play in my mind..

Apparently the scheme promised unbelievable returns in FOREX but it was illegal for Americans to participate in since it's "offshore" and not regulated. 

I currently work in Offshore Oil & Gas and anyone following the oil markets knows things are still pretty crazy and I don't feel the same job stability I once did. 

@Marvin McTaw   few additions to your postwe buy ALOT from auction sites.. not only do you have the 2500 which they process and that is per deal.but the EM in most cases is 10% or about 5k per deal as well.. not often is it 1k and actually I have never seen it.. but then again I am not buying 20k houses either.Then you need to have a REAL proof of funds and you need to then CLOSE in the name of the company you provided proof of funds in.. you can't assign.. and with the off shore or nationwide title companies they use.. double closing is virtually impossible.

Having offshore income and not being physically present.  

I can't tell you the times I get calls from associates of mine that are very successful but not really clued into RE.. and they are talking with some off shore lender.. who only requires 2 to 3k up front etc..

Talking with sellers and structuring deals is not something you outsource offshore to a $3/hour person. 

I don't go to sites that have porn, so I'm not up on the perversions they contain, but I have heard that people get arrested for down loading child porn, I believe those are off shore type sites according to what I've heard.

Kristine Marie Poe   I assume this is a CA market your talking about... it gets even worse when CA or off shore investors go into low end assets in the mid west north east or deep south.. mortality rate is very high.. and length of ownership is very low.Logic dictates in a market were 40 to 50% of the homes are rentals.. that at least 40 to 50% of the foreclosure or vacant homes are from landlords who failed..

US banks did not want to touch an offshore property.