Overseas Property: Telling it like it is

Well, it's certainly been a dramatic couple of weeks. The major governments and bankers have finally starting acting in concert. Let us sincerely hope that the coordinated interest rate cut yesterday combined with government bailouts and capital injections will steady the markets again. However, I think they're going to have to cut interest rates by as much as another point.

Telling it like it is
With many companies, both inside and outside the property industry, keeping their proverbial heads down until the economic skies are clear, I thought I'd do the opposite by telling you a little bit more about how Someplace Else have been doing over the last couple of months, and what our future plans are going to be.

There's nothing particularly special about Someplace Else Ireland and we've no closely guarded secret strategy. However we have always run a tight ship - before, during and after the boom times. We don't have dozens of costly admin and marketing staff on the payroll, we don't have plush offices that cost a small fortune to maintain, we don't hire celebrities to endorse our products, we don't waste money in glossy ego driven adverts in the national press or radio and we don't pay PR companies a fortune to make us feel good about ourselves.

Not doing any of the above means we can spend a lot more time (and money) on website improvements and optimisation, google campaigns, staff training, customer service, newsletter design, targeted emails, research, travelling to new locations, launching diverse new products, packaging them in an investor friendly way, meeting and forming exclusive partnerships with developers, lawyers, tax advisors and mortgage brokers etc. and finally - more research.

Recent Company Performance
Because we do all this and because we have very close relationships with so many investors - the recession and general gloom in the market hasn't caused our revenues to drop at all. In fact, we've sold more properties in more locations in the last three months than we did for the same period last year.

So what are we doing next?

1. Argentina
As you may have noticed last week, we've launched a very innovative vineyard product in Argentina (see main image above), which has two revenue streams and provides buyers with a lifetime supply of high quality and personalised wine - which, by the way, has proven to be an extremely recession proof industry. See detailed description below or download brochure.

2. Berlin
A bit closer to home, I'm very much looking forward to launching our new Berlin product. It's called PP Rubens, it's located in Schoneberg in the west of the city, and it comes with 10 year rental, maintenance, management and modernization guarantees. Prices start at just EUR 87,588. Download Preview.

3. Florida
Florida is another area I've been paying very close attention to lately, and many commentators (including myself) feel that the bottom of the market has almost been reached. We will shortly be launching a consultancy and management service for investors seeking to purchase foreclosed properties.

Properties like these will generate a positive cash flow at a fraction (30 to 40 cents on the dollar) of their previous market value. We've put together a short preview document which can be downloaded here. You'll need to email me personally if you are interested learning more about these opportunities and you'll need to be prepared to pay in cash and to move quickly.

4. Panama
The complete Fortune Plaza brochure is finally ready and can be downloaded here. This is one of Panama's finest hands off investment opportunities. Panama stacks up as an investment destination in so many ways as it has an extremely diverse and business friendly economy, it is a tax haven, and it benefits from strong trade relationships with both developed and emerging economies.

Quick Summary:

- Dos Rosas Vineyard Argentina: Download Brochure
- PP Rubens Berlin: Download Factsheet
- Florida Foreclosure Opportunities: Download Preview
- Fortune Plaza, Panama: Download Brochure

Keeping in touch
As always, myself and my colleagues are available to speak with and answer questions from new and existing clients. Our Dawson Street (Dublin) and Fulham (London) offices are always open for those who'd like to drop by and say hello.

I hope the above has been of some use, and I'll look forward to hearing from you soon.

Warm Regards,

Colin Murphy
Director
Someplace Else Ireland