A couple of years ago, I was talking to a customer for my property management software who was based in Ulan Bator, Mongolia. “Mongolia!” I said. “Holy cow! Why are you investing out there?”
My customer wasn’t from Mongolia, and he wasn’t particularly concerned with the fascinating and exotic nature of the country, although he appreciated it. (Mongolia once controlled almost all of Asia, and was ruled by colorful figures such as Genghis Kahn.) No, he was in Mongolia to make a profit.
I thought of my Mongolia friend the other day when I saw another real estate pundit talking up the virtues of Cyprus and Spain. Does it really make sense to invest overseas? Does it make more sense now than a few years back?