As you know, the dollar won’t be the reserve currency forever.
And the best way to diversify your savings outside the dollar is to own assets overseas.
One of the most popular overseas assets is real estate. That’s because a home overseas is something you can actually use and enjoy while also benefiting from the extra diversification it brings.
The question is: Where in the world to buy?
It’s a question we put to Bill’s overseas real estate scout, Ronan McMahon.
The answer may surprise you…
Where Would Bill’s Overseas Real Estate Scout Buy Now?
By Ronan McMahon
I’ll admit – I’m pretty lucky. I get to travel the world, scouting out great value real estate, visiting stunning destinations… and some top-quality property.
I even get to work closely with Diary of a Rogue Economist editor Bill Bonner, as his personal real estate scout.
Where would I buy right now?
I recently locked down a town home along Mexico’s Riviera Maya. I couldn’t resist what this area—and the town home—have to offer.
Mexico’s Riviera Maya is picture-perfect, accessible, and rich in nature, history, and modern conveniences.
The town home, too, is stunning. I visited the model town home in February, and I was blown away. When you enter through the big, solid front door, a spacious and tastefully finished kitchen/living area opens up in front of you.
Walk through this area – past a glass partition – and you’ll come to the outside deck and hot tub. This outdoor area ends with bright green foliage and sun glinting off the limestone that is naturally dotted in the gardens.
Upstairs, you’ll find a giant master suite, which also ends in glass – and which leads to an outdoor area, this time a roof terrace. It’s perfect for grilling and relaxing.
The second bedroom is downstairs. It, too, is a large, spacious, luxurious room. (It even has its own separate entrance so that it can be rented or used separately to the main house.)
A Stunning Home… in a Luxury Setting
I gave members of my overseas real-estate investing newsletter, Real Estate Trend Alert, the opportunity to secure one of these town homes with special members-only pricing and terms… but I couldn’t resist locking one down for myself, too.
I have 1,179 square feet of internal space – including two bedrooms and two-and-a-half bathrooms, and 518 square feet of external space, including my private rooftop terrace.
It’s a stunning home that feels much more spacious than its square footage. This is a place I would like to spend time – not just for a day or a week but for extended periods of time.
My town home is in a luxury resort setting where I can take full advantage of the amenities. A short stroll away is a Robert Trent Jones II golf club. The practice area is top class.
On my last visit, I started my mornings with an hour on the range and short game practice area. The range opens at 6 a.m., but no one stopped me from pottering around the short game area on my own at 5:30 a.m. You don’t need to be a member or be booked in for a game to use the facilities for $10.
Starting my day here on the range is a big plus. By 6:30 a.m. I’m awake and typing from the terrace of the luxury clubhouse. The terrace sits right at tree level. Gentle breezes roll in. It’s fresh at this time of the morning.
And I have access to all the other amenities. There are good bars and restaurants nearby. A little shuttle buzzes around the resort bringing residents and guests to the beaches and shopping areas. The beach here is stunning.
But for a day or afternoon at the beach my preference is to go a bit more authentic; more rustic. A friend of mine is a partner in a beach bar and restaurant. It’s just a rustic typical wood structure right on the beach. They dish out great ceviche and pizza.
I’m not the only one who has fallen under this area’s spell. Hippies came here and camped decades ago. They still come and camp just back from the beach.
It’s also a popular local hangout. Folks working in the hotels close by and international businessmen come here to eat, relax, paddle-board or learn how to windsurf. It’s quite the mix of people.
Perhaps that’s no surprise. The food is top class, the setting is out of this world, and the vibe is chilled and welcoming. For entertainment, this coast has it all.
Jet-Set Chic
A bit farther south, at Tulum, you can go jet-set chic, if that takes your fancy. (You may have to break out your designer swimsuit, just in case you get snapped in the background of some celebrity paparazzi shot.) A bit farther north, in Playa del Carmen, you can do the same.
The Riviera Maya is also a place that’s rich in nature and adventure. Cave divers crawl into holes in the ground in the jungle and emerge offshore at the reef. Kids play in aqua parks or jump supervised and with lifejackets into cenotes.
You have ancient Mayan ruins all about you here, including the granddaddy of them all: the pre-Columbian city Chichen Itza, the second most visited archeological site in Mexico.
Merida’s colonial history can be taken in with a (long) day trip or an overnight excursion. Cancún’s international airport is just 70 minutes away. There’s lots to do and explore in this locale and plenty of reasons to visit that I can pitch to friends and family. There are also lots of good reasons to rent that I can pitch to renters too.
Truth be told, though, pitching to renters isn’t something I’ll have to worry about. The rental market here is ready-made and pretty much year around. My home could net me a significant income when I’m not using it. And, because this stretch of coast is on the up, I expect values will rise strongly over the next few years.
I love off-the-beaten-track beach towns, like the ones I saw on Thai islands last year. But I also want the Wi-Fi to be sharp and hot water to come out of a powerful shower in the morning. I want to be in a place that is accessible and connected to the world.
With my town home on the Riviera Maya, I think I have it all – and at a reasonable cost. Where else in the Caribbean could you get all this for less than $250,000?
And, heck, if my plans change and I never get to spend time there I still expect my investment will pay dividends of the financial kind.
Editor’s note: Ronan reserves details of his best deals – including the town home on the Mexican Riviera deal he talks about above – for a small but well-connected group of readers. To find out more about that group… and about more members-only opportunities on the Mexican Riviera, go here now.
