Back in 2000 everything in Ecuador looked really bleak. The country ran out of gas. All the banks shut down. here were demonstrations in the street. A huge part of the population fled the country.
What an opportunity!
Having lived again and again in places where problems create opportunity… I look for trouble! I began my business career in Hong Kong in 1968. There were communist riots and bombs being set off in the streets. The Chinese army was massed on the border. Life went on. We all figured out the fastest route to the British and American war ships in the harbor for a quick exit. We watched out for boxes in the street. Then we just got busy with life. Those who stuck around and bought property and businesses made absolute fortunes.
Then I moved to London, a much quieter, safer, steadier place was expected. Yet there were huge problems there. The IRA started setting off bombs in the subway and around town. They even shot some mortar shells at #10 Downing Street! Ted Heath caused a general strike and the pound sank to $1 per pound! The IMF was even needed to offer economic support to bolster the pound. I gathered my pennies and bought London real estate at the very bottom. Those who joined me made fortunes once again.
Then during the 1980s US recession I jumped in again buying Naples, Florida real estate that over the next 20 years skyrocketed… until it was so high… we exited. Proudly (lucky really) we sold our last condos in Naples in April 2007… just before the market began to crash.
The profits on these went immediately into more Ecuador property.
“Life goes on” is also a financial message.
If you have been in despair about our economy, you might be wondering if things can ever revive. Yes, they can and will! Life and business will be a little different, but mankind carries on. Living in the United States we’ll have to be a little more cautious but the western world will survive. Economies will continue to grow in an up and down way as they have for hundreds of years.
Once you believe this… you see troubled places with delight.
So when everything headed south and the economy tanked, I could not wait to get started in Ecuador. Merri and I created an an active Ecuador business, plus began buying property. We bought a 962 acre hacienda, condos in the mountains, a house, a hotel, a four story office building plus condos and apartments on the beach.
This is why I am slathering over Florida. Previous messages at this site have looked at our quest to buy Florida property again.
As I read the recent New York Times article by Michael F. McElroy “After Century of Growth, Tide Turns in Florida” I was reminded why. Here is an excerpt: HOLLYWOOD, Fla. — The smiling couple barreling ahead on the cover of Liberty magazine in 1926 knew exactly where to go. “Florida or Bust,” said the white paint on the car doors. “Four wheels, no brakes. So it has been for a century, as Florida welcomed thousands of newcomers every week, year after year, becoming the nation’s fourth-most-populous state with about 16 million people in 2000.
Imagine the shock, then, to discover that traffic is now heading the other way. That’s right, the Sunshine State is shrinking. Choked by a record level of foreclosures and unemployment, along with a helping of disillusionment, the state’s population declined by 58,000 people from April 2008 to April 2009, according to the University of Florida’s Bureau of Economic and Business Research. Except for the years around World Wars I and II, it was the state’s first population loss since at least 1900.
“It’s dramatic,” said Stanley K. Smith, an economics professor at the University of Florida who compiled the report. “You have a state that was booming and has been a leader in population growth for the last 100 years that suddenly has seen a substantial shift.”
The loss is more than a data point. Growth gave Florida its notorious flip-flop and flower-print swagger. Life could be carefree under the sun because, as a famous state tourism advertisement put it in 1986,
“The rules are different here.”
But what if they are not? Or if those Florida rules — an approach that made growth paramount in the state’s sales pitch, self-image and revenue structure — no longer apply?
“It’s got to be a real psychological blow,” said William H. Frey, a demographer at the Brookings Institution who predicted that census data in December would confirm the findings. “I don’t know if you can take a whole state to a psychiatrist, but the whole Florida economy was based on migration flows.”
Recall what once passed for normal. Florida grew from 2.8 million people in 1950 to 6.9 million in 1970, and by about three million people each decade after that. Even during stagflation in the ’70s, Florida added about 200,000 people a year. More recently, from 2004 to 2006, Florida added about 1,100 people a day, as housing construction’s proportion of the state economy grew to twice the national average.
Now consider Broward County in 2009. The county, between Miami and Palm Beach, was one of the first areas to shrink — losing 21,117 people from April 2007 to April 2009, according to University of Florida data — and its experience offers a glimpse of what could be on the way elsewhere.
Now, we are selling several Ecuador properties to plow back into the “Sunshine State.”
I believe in Florida for one of the same reasons I believe in Ecuador… sunshine… warm weather in the winter. This is the Florida-Ecuador connection.
I also believe in Ecuador as one of the closest to Florida, practical, low cost places to live with something even better…year round great weather!
Anyone interested in buying Ecuador property, let me know… I bought at really low prices so have some excellent real estate for sale at c0mpetitive prices.
Also if you have Florida property for sale let me know also… in the Central Florida area. (We are not returning to South Florida.) I am looking….buying and may even swap.
Most investors traditionally run from bad times! But this very fact creates value investing opportunity. Few times has a real estate market been as badly hit as in Florida. Ecuador real estate continues to appreciate as gringos leave the US and head for points south…but this part of the US south offers great potential now as well.
The greatest asset of all is the ability to earn wherever you live, which brings everlasting wealth.
This is why we offer our course Tangled Web… How to Have an Internet Business.
A clear mind and healthy body are also a vital assets… plus a second language is a powerful diversification tool.
This is why I am giving everyone who enrolls in our North Carolina or Ecuador International Business & Investing seminar in October or November our “Tangled Web… How to Have an Internet Business Course” (offered at $299) free.
Here are comments from a reader about the way we help: Thank you for your inspiration and information outlining foreign banking and retirement. Your comments and suggestions are welcome for planning the steps to evaluate the early stages of living abroad.
Sept. 17-21 Ecuador Super Thinking + Spanish Course
Sept. 23-24 Imbabura Real Estate Tour
Sept. 25-28 Ecuador Coastal Real Estate Tour
Join us with Jyske. Learn more about global investing, how to have an international business and diversification in Ecuador at the seminar.
October 16-18 Ecuador Southern coastal tour (early sign up before Sept. 1, $499 per person).
Oct. 21-24 Ecuador Import Export Tour
Oct. 25-26 Imbabura Real Estate Tour
Nov. 6-8 IBEZ Ecuador Seminar
Nov. 9-10 Imbabura Real Estate Tour
Nov. 11-14 Ecuador Coastal Real Estate Tour
Attend any two Ecuador seminar or tours in a calendar month…$949 for one. $1,349 for two.
Attend any three Ecuador courses or tours in a calendar month…$1,199 for one. $1,799
Read here the entire article After Century of Growth, Tide Turns in Florida