Andrew discusses some of the pros and cons of owning agricultural land. If you're interested in purchasing agricultural land, then you must have a trusted lawyer by your side to make sure everything is in compliance with the law and that the deal you're about to go through is 100% legitimate. Too often you hear horror stories of people getting screwed over by bad apples. Andrew also recommends to look into agricultural land throughout Eastern Europe, as it is often far cheaper than agricultural land in Latin America and many other countries.
Key Takeaways:
Andrew's Editorial:
[2:20] Jim Rogers believes sometime in this century farmers will go back to holding all the wealth.
[3:00] Andrew talks about The $10 Trillion Prize.
[4:40] On a large scale, cows take a lot of land compared to rice fields.
[4:45] This is why people talk about agricultural land being so valuable.
[5:20] The problem with agricultural land is that it's not only a long term investment, but also an expensive one.
[6:20] There are other compelling reasons to own agricultural land.
[7:55] Andrew wants your feedback about the investment he is making.
[9:15] Being on the ground is often better than being online.
[9:55] Most people don't have $7.2 million to put into agricultural land.
[10:05] Andrew is acquiring a small cattle ranch in Eastern Europe because it's cheaper.
[11:15] If you can't get the top lawyer in town, then get the best lawyer you can and pay them!
[13:55] There aren't a lot of good metrics on what agricultural land is worth, which is why you need to have people you trust, like lawyers, by your side.
[20:15] Have a lawyer, have a lawyer, have a lawyer.
[23:05] There are places where you can get residency if you purchase agricultural land.
Interview:
[23:45] Andrew introduces Daniel.
[25:10] Daniel had both Swiss and US passports at birth.
[27:00] Daniel talks on why he decided to renounce his US citizenship.
[29:40] What was Daniel's big aha moment?
[30:15] The US policy on how they handle their US citizens living overseas is disturbing.
[30:40] Why Switzerland?
[34:10] What did Daniel do after he renounced his US citizenship?
[34:40] Switzerland has no capital gains tax.
[34:50] What other flags has Daniel planted?
[35:50] Daniel's 11-year-old daughter is a US citizen and she is also running into some problems.
[40:25] Does Daniel go back to visit the US?
[42:25] Daniel feels like it's easier to go back to the US as a non-US citizen than as a citizen.
[43:50] What kind of problems has Daniel faced since he renounced his US citizenship?
The Lighting Round:
[48:50] One business – any type of business online.
[49:25] One country – Switzerland.
[50:15] One book – books on renouncing US citizenship.
[50:55] One tool – The American Expatriates Facebook group.
Listener Question:
[53:30] How do you stay healthy while traveling?
[55:15] Andrew recommends apple cider vinegar.
[57:05] If you feel bad, stay in and just knock it out.
[58:40] There's usually a pretty simple solution to most things.
Mentioned in This Episode:
Andrew@nomadcapitalist.com/
The $10 Trillion Prize by Michael J. Silverstein
