You’d have to be pretty ballsy to get involved with investments in Venezuela…
I was there when they dropped 3 zeros from their currency and re branded it as the Bolivar Fuerte. Official rate was 2.15 BsF = 1 USD, but on the street (which meant every single person you met) would buy your USD cash at 3.0 - 3.3.
Fast forward a decade and they have since chopped 5 more zeros from their currency and called it the Bolivar Soberano… today’s unofficial rate is 13139 BsS = 1 USD. And the corrupt shitshow continues…
Or you could buy hard assets like land or houses there. They’re dirt cheap now but the problem is you don’t know if government will not confiscate is as you’re basically representative of American anti-socialist imperialism.
That is indeed a good question. At the beginning of 90s you could buy land in my Polish hometown at 2-5 PLN per sq meter - now it’s 150-200 PLN (and closer to Warsaw prices jumped much higher - to 400-600 PLN; in best places in Warsaw land costs 2000-3000 PLN).
Probably because it is hard work. If it were as easy as buying VT, then I’d do it. But in reality it is probably more like: You have to fly down to Venezuela, have a fair good level of Spanish (also understand local slang), have a good enough knowledge of the local real estate market, know how to bribe authorities, know who to trust/not to trust when buying from. Also your competitors will be local land owners from the upper class and/or mafia.
Also, there is no guarantee that the land will actually appreciate in value. I once was in Russia and I was told that I could buy one of the abandoned dachas in the village we were visiting for around 1000 CHF. But why would someone later want to buy in a village where already now nobody wants to live?
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