You Can Afford A Dream Home--Here's How | Pathfinder International

Monday, September 28, 2009

Dear Reader,

Global economic problems mean that today there are opportunities…opportunities that didn’t exist one, two or three years ago. Investors know this, and are on the lookout for the best crisis opportunities in markets including Spain and the UK.

On the prowl for a retirement or second home? If the answer is yes, you also need to pay attention. This is the time to make your move.

If you think you can no longer afford the retirement or second home you planned you’re wrong. As financial markets fell, the deals have got better. In some instances the price of your retirement or dream home has dropped in half. In other instances, the dollar has appreciated against certain currencies creating a buying window (albeit one that’s temporary, in my view). In other instances, prices that were artificially low three years ago have stayed artificially low.

Despite the stock market bounce there are still deals to be done.

Right now, you can buy a condo on a beautiful white sand Pacific beach for $50,000. Spend a few thousand dollars more and your condo could be on a wide, white sand south Atlantic beach. I’m not talking junk. I’m talking new, quality construction from developers I know and trust.

Even if your 401K is now a 201K, it will still buy you the real estate you planned for. You just need to know where to look and what to look for. Stick to your guns and focus on quality. A $50,000 beach condo sounds too good to be true. Usually when things sound too good to be true, they are. Not this time.

Ecuador offers the most choice on a $50,000 budget. My top pick is in Salinas. Salinas is less than two hours north of Ecuador’s most populous city, Guayaquil. Its 9.5 miles of wide sandy beach has made it Ecuador’s “in” playground…perfect for sunbathing, boating, surfing, sport fishing, and, of course, posing. The beachfront is lined with upscale high-rise apartments, hotels, restaurants, shops, and discos. Salinas has a stylish Miami-Beach type ambience. Residents and visitors enjoy the sun and water sports during the day. The evening is for fine dining and the vibrant nightlife.

A new condominium community is being built at the edge of a tranquil, semi-private beach a few miles north of the malecón (boardwalk) in the Costa del Oro area of Salinas. It’s located near the Puerto Lucia Yacht Club, a popular destination for international sailors and an embarkation point for world-class deep-sea fishing charters.

The $50,000 condo I’m talking about is here, in the development called Spondylus II.

A budget in the region of $50,000 doesn’t just limit you to Ecuador.

To the east of Fortaleza, in Brazil, the coastline is like nothing I have seen anywhere else. Red and white cliffs rise from flat beaches. This unique and beautiful stretch of coast has been a favorite with Brazilian tourists for many years, yet remains undiscovered by North Americans. I’ve driven this coast (using the beach as a road) several times—it won’t stay undiscovered for long.

Fresh water gushes from streams that fall from the cliff (perfect for a shower after a dip in the warm waters of the south Atlantic). The beach-side bars grill fish taken straight from the boat. In the evening the colors are fantastic as the fishermen’s little jangadas come home fat with their catch.

The municipality of Beberibe attracted 800,000 Brazilian tourists last year. This area is packed during the major Brazilian holidays—Christmas, New Year, Carnival, and Easter—and includes the village at Fountains Beach.

Fifty minutes from Fortaleza’s International Airport, Praia das Fontes (Fountains Beach) is named for the fresh-water fountains that flow from the cliffs. The village here is home to small pousadas, beach bars, two major hotels and a water park.

There’s a real estate project here called The Fountains. It’s almost sold out and halfway through building. Perched on a small cliff over the beach, each unit will have sea views. The Fountains has direct access down to the beach. All but five units have sold and one-bed units start at $66,000.

With so few units left, the developer, Mike Colwill, is keen to sell them without cranking up a full-blown marketing campaign. This is a situation we can take advantage of. Mike will give you a 15% discount on the five remaining units…so that $66,000 becomes $56,100.

Travel down South America’s east coast and you will finally come to Uruguay. Founded in 1893, Piriápolis is Uruguay’s first seashore resort. It lies about twenty minutes from Punta del Este and ninety minutes from the capital Montevideo. Piriápolis has long been popular for its sandy beaches, calm waters, and attractive seafront.

Piriápolis is often compared to an old-fashioned American seashore town from the 1950s, with its stately brick buildings, waterfront boardwalk, and grand hotels from a bygone era. Piriápolis is filled with bathers and sun-worshipers for the entire summer. Year-round, people come from all over Uruguay to enjoy its fine seafood restaurants, casinos, cafés, and local museums.

Piriápolis is a boater’s paradise, noted for its large marina with affordable rates…one of the few marinas on the entire coast. Sailing enthusiasts frequently enjoy the three-hour sail to Punta del Este, or the day-long voyage to Buenos Aires. Piriápolis however is small. Unlike Montevideo or nearby Punta del Este, it has a small-town, neighborly feel. Everyone knows everyone.

Here $65,000 buys you a fully-fitted resale condo with one bedroom with ensuite bathroom in the best area of Piriápolis: right on the promenade. This condo is front-line beach with great ocean and beach views from the condo and also the terrace.

Even better…each of these properties come with tiny holding costs. Taxes and upkeep will be a fraction of what you would pay in the US.

Ronan McMahon

P.S. You can download our “The $50,000 Report” here. Learn about the world’s best real estate opportunities with a price tag of $50,000 or less. This report could literally change your life!

P.P.S: Remember, now just might be the time to diversify some of your retirement funds out of US equities.

You Can Afford A Dream Home—Here’s How