Passport to Exotic Real Estate : Buying U.S. And Foreign Property In Breath-Taking, Beautiful, Faraway Lands

An exploration of acquiring real estate outside the continental U.S. Given the costly uncertainties of the domestic real estate market, buying a second home in desirable vacation areas within the United States has become nearly impossible for many. Increasingly, Americans are turning to more affordable regions overseas, some stay close-by in Mexico or Canada, while others are more adventurous, looking to parts of Central America, the Caribbean, and Pacific Islands. In Passport to Exotic Real Estate, real estate expert and travel writer Steve Bergsman offers detailed advice on the benefits and challenges of buying overseas property, including whether or not foreigners can legally own property, tax implications, availability of beachfront land, market trends, investment security, local regulations, and much more. With this book as their guide, readers will be fully prepared to overcome the obstacles of overseas property ownership and discover the benefits of living/vacationing abroad. Steve Bergsman (Mesa, Arizona) is a real estate, financial, and travel writer with more than 20 years' experience. His news stories and travel articles have been published in more than 100 publications around the world and he has appeared on local and national radio and television. Bergsman is also the author of two previous real estate books, Maverick Real Estate Financing (978-0-471-74587-7) and Maverick Real Estate Investing (978-0-471-46879-0).

Praise for the PASSPORT TO EXOTIC REAL ESTATE

“The definitive guide to buying a second home in an exotic locale. Bergsman's book is a must-read for anyone looking to buy vacation real estate in the United States, Central America, Newfoundland, or the Islands of the Caribbean or Pacific. A historical perspective provided through interviews with local residents and real estate professionals, coupled with detailed discussion of the legal and financial issues related to buying property in each market, makes this how-to manual required reading for anyone considering the purchase of a second home.” —RICHARD SWERDLOW, FOUNDER AND CEO, CONDO.COM

“Steve Bergsman has taken the questions out of buying a retirement or second home when investing in exotic locations. His ‘ten things to know' about each market analyzed is a tremendous advantage to anyone buying a second home in Alaska, Hawaii, Puerto Rico, or many of the other markets researched in this book.” —DAVID BRECHER, PRESIDENT, TRUMP FINANCIAL

“As a travel journalist who has journeyed to some of the more exotic places on Earth, I am often asked, 'Wouldn't you like to have a vacation home in one or more of those places?' Visiting, even covering, faraway places didn't provide me with the necessary information to answer that question. Would that I had had Steve Bergman's wonderfully informative Passport to Exotic Real Estate.” —TONY TEDESCHI, FOUNDING EDITOR, NATURALTRAVELER.COM

“Steve Bergsman has written an informative and comprehensive profile of foreign real estate opportunities for the adventurous but rational second home buyer. For those looking for an alternative to property investment in the United States, this guide covers all the angles and is a plethora of worthwhile information and ideas.” —ALISA BENTZ AUTHOR, BOOK HAVEN REVIEW BLOG HTTP://NYSSANEALA .BLOGSPOT.COM

Praise for MAVERICK REAL ESTATE FINANCING'Once you start reading, you won't be able to put the book down. You will feel you are part of the deals that industry leaders have put together. This is a real book about real people and how they address risk and reward.'--Bruce S. Schonbraun, Managing Partner The Schonbraun McCann Group LLP'Bergsman applies a journalist's logic to the complex world of commercial real estate, making it easier for outsiders to understand. He writes with the authority of a true insider.'--Brannon Boswell, Managing Editor Shopping Centers Today'Congratulations. Finally, someone has written a book that reflects real estate finance in the twenty-first century. With the growing proliferation of real estate education in university business schools today, this book should be required reading!'--James D. Kuhn, President Newmark Knight Frank In Maverick Real Estate Financing, Steve Bergsman--author of the widely acclaimed Maverick Real Estate Investing--describes the various financing methods you can use to achieve real estate investment success. Maverick Real Estate Financing also introduces you to an innovative group of real estate professionals who have used these methods to build substantial fortunes. By listening to some of the world's most successful real estate Mavericks--includingWilliam Sanders, W. P. Carey, and Stephen Ross--you'll discover what sets them apart from the rest of the pack and learn how to apply their proven principles to your own real estate deals. Each chapter examines a different real estate financing technique and the Maverick who best exemplifies it. Some of the strategies and products discussed include: • Equity financing • Public and private REITs • Agency loans • UPREITs • Commingled capital • Retail site arbitrage • Conduit loans • Sale-leasebacks • Distressed mortgages • Low-income housing tax credits (LIHTCs) Praise for MAVERICK REAL ESTATE FINANCING "Once you start reading, you won't be able to put the book down. You will feel you are part of the deals that industry leaders have put together. This is a real book about real people and how they address risk and reward." --Bruce S. Schonbraun, Managing Partner The Schonbraun McCann Group LLP "Bergsman applies a journalist's logic to the complex world of commercial real estate, making it easier for outsiders to understand. He writes with the authority of a true insider." --Brannon Boswell, Managing Editor Shopping Centers Today "Congratulations. Finally, someone has written a book that reflects real estate finance in the twenty-first century. With the growing proliferation of real estate education in university business schools today, this book should be required reading!" --James D. Kuhn, President Newmark Knight Frank In Maverick Real Estate Financing, Steve Bergsman--author of the widely acclaimed Maverick Real Estate Investing--describes the various financing methods you can use to achieve real estate investment success. Maverick Real Estate Financing also introduces you to an innovative group of real estate professionals who have used these methods to build substantial fortunes. By listening to some of the world's most successful real estate Mavericks--includingWilliam Sanders, W. P. Carey, and Stephen Ross--you'll discover what sets them apart from the rest of the pack and learn how to apply their proven principles to your own real estate deals. Each chapter examines a different real estate financing technique and the Maverick who best exemplifies it. Some of the strategies and products discussed * Equity financing * Public and private REITs * Agency loans * UPREITs * Commingled capital * Retail site arbitrage * Conduit loans * Sale-leasebacks * Distressed mortgages * Low-income housing tax credits (LIHTCs)

The Ultimate Guide to Buying and Selling Property Like the Experts

How do the world's most successful developers—from Donald Trump to Sam Zell—make the most of every real estate transaction? The answers are found throughout Maverick Real Estate Investing. In this one-of-a-kind book, you'll learn the secrets to making a good deal, using other people's money, establishing cash flow targets, finding the best locations, getting top legal and tax counsel, overcoming negative responses, selling at the right time, and much more. It's must reading for every aspiring real estate titan, and will give you the tools necessary to make every deal a profitable one.

"Steve Bergsman's profiles of some of the most successful investors of our time give an illustrative and illuminating insight into how the best in the business have consistently managed their risk . . . and raised their returns. If you want to make it in the competitive world of real estate investing, read this book!"

—Dale Anne Reiss, Global and Americas Director of Real Estate, Hospitality, and Construction Services, Ernst & Young

"For the novice—and even the experienced—investor in real estate, Steve Bergsman's book contains lots of worthwhile ideas. Better still, it clearly explains how to implement them. Easy to read and insightful, it's one of the better how-to investment guides around."

—Richard Rescigno, Managing Editor, Barron's

"I have been reading Steve Bergsman's insightful real estate reporting and commentary for over a decade. He is one of the best real estate writers in America, as evidenced by his captivating analysis in Maverick Real Estate Investing, where he melds personalities and investing principles into a very good read."

—Jonathan L. Kempner, President and Chief Executive Officer Mortgage Bankers Association

The Ultimate Guide to Buying and Selling Property Like the Experts How do the world's most successful developers--from Donald Trump to Sam Zell--make the most of every real estate transaction? The answers are found throughout Maverick Real Estate Investing. In this one-of-a-kind book, you'll learn the secrets to making a good deal, using other people's money, establishing cash flow targets, finding the best locations, getting top legal and tax counsel, overcoming negative responses, selling at the right time, and much more. It's must reading for every aspiring real estate titan, and will give you the tools necessary to make every deal a profitable one. "Steve Bergsman's profiles of some of the most successful investors of our time give an illustrative and illuminating insight into how the best in the business have consistently managed their risk . . . and raised their returns. If you want to make it in the competitive world of real estate investing, read this book!" --Dale Anne Reiss, Global and Americas Director of Real Estate, Hospitality, and Construction Services, Ernst & Young "For the novice--and even the experienced--investor in real estate, Steve Bergsman's book contains lots of worthwhile ideas. Better still, it clearly explains how to implement them. Easy to read and insightful, it's one of the better how-to investment guides around." --Richard Rescigno, Managing Editor, Barron's "I have been reading Steve Bergsman's insightful real estate reporting and commentary for over a decade. He is one of the best real estate writers in America, as evidenced by his captivating analysis in Maverick Real Estate Investing, where he melds personalities and investing principles into a very good read." --Jonathan L. Kempner, President and Chief Executive Officer Mortgage Bankers Association Real estate financing lessons from some of the best minds in the business The real estate market is booming, and over the last few years, people have turned to this reliable investment because of its incredible potential. However, real estate investing is a much different beast than buying a home. The objective is no longer real estate for individual use, but to lease the property to others in order to create income. In this follow-up to the widely acclaimed Maverick Real Estate Investing, Steve Bergsman describes in detail various real estate financing methods that can be used for real estate investment success. Each chapter discusses a different financing technique8211;from first mortgages, equity financing, conduits, and agency loans to low-income housing tax credits, distressed mortgages, and UPREITs8211;and profiles real estate financing mavericks who have used these techniques to capture huge profits. While advice on real estate financing abounds, Maverick Real Estate Financing offers proven techniques and strategies from some of the best minds in the business including:160;W.P. Carey, and Robert Taubman. Steve Bergsman (Mesa, AZ) is a nationally recognized financial and real estate writer. For the past 20 years, he has been a contributor to many leading publications and regularly writes the "Ground Floor" real estate column in Barron8217;s. He is also the author of Maverick Real Estate Investing (0-471-46879-7) "In this follow-up to the widely acclaimed Maverick Real Estate Investing, Steve Bergsman describes in detail various real estate financing methods that can help you achieve real estate investment success. Maverick Real Estate Financing also introduces you to a group of innovators who have used these methods to build substantial fortunes. By listening to some of the world's most successful real estate Mavericks - those you'll meet in these pages - you'll uncover valuable, time-tested tools and techniques that can help you raise capital and make deals you might not have previously considered."--Jacket Chapter 1 Make a Good Deal -- 1 -- Chapter 2 Understand Cycles -- 23 -- Chapter 3 Use Other People's Money -- 47 -- Chapter 4 Establish Cash Flow Targets -- 69 -- Chapter 5 Be in Alignment -- 93 -- Chapter 6 Find a Nearly Perfect Location -- 115 -- Chapter 7 Benefit from Someone Else's Disasters -- 137 -- Chapter 8 Make Safe Gambles -- 159 -- Chapter 9 Hire Savvy Managers -- 181 -- Chapter 10 Get Good Legal and Tax Counsel -- 203 -- Chapter 11 Overcome Negative Responses -- 225 -- Chapter 12 Sell to Your Advantage-- 247. Lessons from real estate moguls who have thrived in every market over the past 50 years Maverick Real Estate Investing shows readers how to successfully buy and sell properties by following the examples of some of the best minds the real estate business has ever known. This comprehensive resource offers strategies from moguls such as Sam Zell, Melvin Simon, and Donald Trump, all of whom amassed huge real estate empires by dominating and outsmarting the competition. Each chapter profiles a Different maverick, provides insights into their colorful careers, and reveals how readers can apply the winning strategies of these gurus to their own real estate investments. Steve Bergsman (Mesa, AZ) is a nationally recognized financial and real estate writer. For the past 20 years he has been a contributor to many leading publications and regularly writes the "Ground Floor" real estate column in Barron's The most amazing real estate company ever-again! Real estate loans Agency loans, an easy way to finance multifamily Giving it up for equity financing Retail site arbitrage Commingled capital The REITs that don't trade publicly De-stressing distressed mortgages Advantages and disadvantages of the conduit loan Of REITs and UPREITs Turning real estate into capital A very useful subsidy. Offers detailed advice on the benefits and challenges of buying property in more than a dozen locations around the world, including U.S. territories such as American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands