Real Estate in Africa
Hello fellow monkeys
So i was thinking since many young millenials earning a decent wage in US dollars and with rate so low in US, and many young monkeys rent and do not own property, why not buy a house in some African country? its cheap, many countries have decent infrastructure, you can use it as vacation house and you can rent it and earn some income? so what's the obstacle?
not sure how africa is but in parts of latam you have to be careful for squatters
What parts in LATAM? and what do you mean by squatters? Suppose i set up a mini hedge fund, (suppose i'm US based) i borrow money from Swiss bank or some Nordic bank where rates are negative, i go shopping in African countries for ,real estate, rent the houses after a while renovate them then flip them, and profit why not?
Well there's the whole foreign ownership restriction, scalability of the strategy, and fx risk for starters.
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