Saturday, May 22, 2021
Dear Your Overseas Dream Home Reader,
I often describe RETA members as ordinary folk…
And its true. We come from all walks of life. I’ve personally met many of you. Teachers…lawyers…engineers…entrepreneurs…techies…
But there’s nothing ordinary about what we achieve as a group. When we combine our group buying power, we wield extraordinary influence. It opens doors that we otherwise would never gain access to. It gives us the ear of major players. People who move in billionaire circles. People who shape the world we live in…sometimes literally.
For instance, our most recent deal comes from Alfredo Aleman, Panama’s most esteemed developer, and one of the few people in the world who can say he’s built islands.
Ocean Reef is two man-made islands surrounded by the sea yet deep in the heart of downtown Panama City.
This is some next-level real estate… It’s seven days a week super-exclusivity just steps from a state-of-the-art marina equipped for the mega yachts of the rich and famous. I’m talking yachts worth $100 million.
|
|
Everything you see at Ocean Reef is the vision of Alfredo Aleman, himself an avid sailor.
I have known Alfredo for 17 years. RETA members have profited greatly from his vision and our off-market deals with him.
Alfredo in his turn has been grateful to RETA members who have done well buying in many of his prestigious developments.
Our most recent RETA-only opportunity dealing with Alfredo was to own in Playa Caracol, the nicest, closest beach to Panama City. Our price was from an incredible $112,000 for a fully furnished, turnkey condo in Pueblito, where Alfredo is creating an entire high-end beach town…a totally unique beachfront community.
That sums up Alfredo. When he decides he wants to compete in a niche, he creates the best community in that niche. That’s why his projects sell so fast and values rise so strongly. He never creates a community that will try and be all things to all men. He creates the best for that segment.
And it’s because of our history with Alfredo that we have our opportunity on Ocean Reef…
A chance to own an ultra-luxe condo and have first-in access to a next-level community on a manmade island, surrounded by the ocean right in the heart of downtown Panama City. The most exclusive community in Latin America, certainly the most unique.
This is a spectacular deal on the kind of prime real estate that the world’s wealthiest seek out. It’s a deal for the rare collector of amazing real estate, yet our price is a fraction of what you would expect.
That’s because this is RETA-only….off-market.
Another major coup for this group of “ordinary folk…”
Members can read my full report on the deal, right here.
A Note from Mexico City
Last week my researcher Jason Holland moved to Mexico City. Specifically, to its famed Roma Norte neighborhood—an area that has undergone significant gentrification over the past two decades.
I asked him to share a quick note on his first impressions:
It was the last thing I expected to see.
But there it was, just across the street from the bustling park where I was walking my dogs a few days ago.
A combo ukulele/juggling shop.
Let me back up…
My family and I love living in San Miguel de Allende. We’ve lived there for just over three years, which is a record for our nomadic family.
This small colonial city is charming in so many ways: the historic architecture, the welcoming expat community, the active arts and music scenes, the vibrant local traditions and festivals…it’s the type of place where it seems you always run into somebody you know when you’re out running errands.
But we’ve decided to spend the summer in Mexico City. It’s a bit of leap—we’ve only visited before on short trips. Could we survive in this megalopolis of more than 20 million?
As soon as we arrived at our apartment in the hip neighborhood of Roma Norte, we knew we had come to the right place. The side streets off the grand avenues, shaded by plentiful trees, are lined with a mix of Art Nouveau, Art Deco, and modern apartment buildings, stately turn-of-the-century mansions, and grand townhouses
The area was planned as an upper-class neighborhood in the early 1900s. But by the 1940s residents started leaving to escape the increasingly busy urban zone. The destruction left after the 1985 earthquake caused further flight.
But starting in the early 2000s, artists and hipsters, drawn by low-priced real estate, started coming in. That gentrification continues. The average apartment today in Roma Norte costs $265,000. Simple apartments of two or three bedrooms in older buildings rent for $800 a month. Units in new construction go for about $1,500 a month. Not bad for one of the best neighborhoods in a major world city.
Roma has a European feel, but you still find delicious tortas (sandwiches) and tacos for 11 pesos (about 50 cents) from corner food stalls.
|
|
There are little shops selling everything from vinyl records to vintage clothes to collectible sneakers to funky designer fashions to tattoos and body piercings…and somehow, some way ukuleles. There is a decent indie music scene here…maybe that has something to do with it? The juggling gear…well, there are a lot of street performers.
On the ground floor of our building is a popular oyster bar. There’s a hip coffee shop on seemingly every block. Within a 10-minute walk we have a gourmet burger place, ramen and sushi restaurant…vegan, Lebanese, French, Italian. We like to eat…so we’re looking forward to making our way through all the neighborhood has to offer.
There’s even a tiki bar three blocks away. That’s handy as I had to pack up my home bar when we moved.
It’s only been a week so far, and there is a lot of city to explore in Roma Norte and beyond. But we’re loving our summer home so far. I’ll report back as we roam further afield.
Jason will be on the lookout for bargain properties in Roma and throughout the Mexico City. If he finds any deals worth a second look, I’ll be sharing them with RETA members. If he uncovers something truly special, we might even dedicate a future issue of Dream Home Digest to it.
Remember, if you’re a member, you can ready this month’s issue, which dropped earlier this week, right here.
Stay tuned for more…
Safeguard Your Wealth
Uruguay is often called the Switzerland of Latin America—for good reasons. It’s a forward-thinking country that’s open and welcoming to foreigners. And it’s a place where Argentines, Brazilians, and other nationalities find a profitable and secure environment for stashing their money in times of strife back home.
According to JP Morgan’s ESG ranking (which measures environmental, social, and governance factors), Uruguay ranks in line with developed economies, despite having the investment potential of an emerging market.
And that’s what makes it such an attractive safe haven for investors. It’s a place where you can not only protect your wealth in volatile times, but also grow it.
Indeed, I’ve identified a Path of Progress on Uruguay’s Atlantic coast that spells double-your-money potential.
It’s a Path of Progress that started many decades ago in Punta del Este, Latin America’s premier jet-set destination…a haven of celebrities, the super-wealthy, movers and shakers, models, royalty, and the like.
Now the Path of Progress is moving east, and so too are the elites who decamp to this stretch of coast each summer.
Last time I visited Uruguay, I followed this progression myself, beginning in ritzy Punta del Este and finishing right where I’ve identified the perfect spot for us to profit from this Path of Progress.
A place where we can lock down low-cost land and just sit on it and wait for the Path of Progress to drive values higher. It’s a simple, low maintenance way to maximize profit while storing wealth in an established global safe haven.
And we can do it from as little as $664 a month.
I’ll be sharing more in the coming week…
|
|
Wishing you good real estate investing,
|
|
Ronan McMahon, Real Estate Trend Alert
Like what you’re reading?
Send your thoughts to feedback@realestatetrendalert.com. I’ll post and respond to as many of your emails as I can right here in the e-letter. Find out more about our feedback policy here.
Your Comments and Questions
Kevin says: Dear Ronan, I am a decade+ IL Magazine subscriber. I am hoping to move to Ireland in 2022, depending on the virus situation. I am considering Bearna, Athenry, Turloughmore and even down to Ennis. Ennis, I understand, is stressed due to the Shannon Airport situation. Of course, a good real estate deal elsewhere would certainly be considered. Thanks for your kind attention. Ronan says: Hi Kevin. In Ireland recently, the housing crisis there has dominated the news. Essentially, the Irish government has been incentivising investment funds to buy up new real estate developments ahead of locals. This is in a market where supply is already unable to meet demand and where prices are soaring. However, there are a few bright spots for buyers. The rising cost of real estate there is primarily in its cities. In rural areas, you’ll still find good value. The question is, how rural are you willing to go? Bearna is a nice area, and within very easy reach of Galway City. However, it’s also close enough to be within the vortex of Galway’s rising prices. You’ll certainly find better deals in Athenry or Turloughmore but I would recommend renting first. While each are within 30 minutes of Galway City, these are relatively small communities and you’d do well to test the water before making a major commitment. |