Andrew discusses the risks and various factors you need to take into consideration when it comes to investing in unstable markets. There is nothing wrong with making a crisis investment as it can lead to huge gains. With that being side, you want to know the market, the environment, economy, and culture inside and out before you do. As Andrew's father often told him, “Be aware of falling knives.”
[2:10] How do you find your safe havens?
[2:40] We'll be covering how you know you're getting into a good market vs. what to steer clear of.
[3:10] Andrew's father is the most honest guy he knows. Andrew shares some advice his father once gave him.
[4:55] What is Turkey's environment like? Is it a good place to live/invest despite the attempted coup?
[5:45] Property in Istanbul has been on the rise for the last two decades, but will it soon come to an end?
[6:10] Whether a place is safe or not, it all comes down to fundamentals. Andrew explains further.
[10:40] When is the time to go in and buy?
[13:10] Find a region you like and focus on what's going on there.
[16:10] You need to understand all the factors at play before you make a crisis investment.
[20:55] How did Grant get started?
[23:15] Grant wanted to give people access to extremely smart people all around the world.
[26:35] Banking tends to be the biggest problem when living in different countries.
[28:15] Why did Grant choose Singapore?
[31:45] It was easier to plant your flags in Singapore five years ago.
[32:55] Wherever you are in the world, you can be home in 24 hours if you don't like where you currently are.
[33:50] FATCA has changed the entire world.
[34:40] You should have bank accounts all over the world, but governments find this behavior extremely suspicious.
[37:25] What does Grant think about Ireland's economy?
[38:05] Would Grant like to go back to the UK?
[40:25] Grant believes if he hadn't traveled, he wouldn't have started either of his businesses today.
The Lightning Round:
[41:50] One business - Concierge service.
[42:05] One country - U.S.
[42:35] One book - The Checklist Manifesto and Blink.
[42:55] One tool - Trello, Slack, TripIt.
[45:00] What are Andrew's favorite cities for Airbnb rentals?
[47:15] Andrew knows one guy who was able to get his Airbnb rentals yield up to 31%.
[47:25] However that is extremely rare.
[51:15] Andrew recommends looking into markets where there isn't enough '5 star quality stuff'.
[51:25] You'd be able to get in at a lower entry point.
[52:25] Andrew lists some countries he's familiar with and would be good for Airbnb rentals.
[58:30] Airbnb can become your business if you know what you're doing.
Mentioned in This Episode:
The Checklist Manifesto by Atul Gawande