Dear Colleague
It is hard to believe that Thanksgiving is almost here! This year has gone by so quickly. I have had a wonderful year, with an exciting trip to China, my first grandchild becoming a toddler, and a continuing growth in my law practice. I have a lot to be thankful for this Thanksgiving and I hope that you do too.
The View from China
My wife and I recently returned from a vacation in China and it is an amazing country. I have had some clients do business there in the last few years, including a data processing company that has almost all of its processing done by subcontractors there, but I didn't realize understand the power of China's economy until I traveled there.
It is truly the cutting edge of an expanding economy. Its people seem friendly and very entrepreneurial. It is hard to believe how much they have done to build and improve their infrastructure and to motivate their people to create jobs and products. If you have not yet read Thomas Friedman's book "The World is Flat", you should read it. Tom explains exactly why we have to understand China (and India and others) and I agree.
If your company is considering doing any business there, I would be glad to help you develop a plan to do so. It takes some planning, but it is well worth it. There are 1.4 billion people there and they love American products--take advantage of it.
Buying Real Estate in the Washington Area
A number of my clients have been considering whether to invest again in real estate, particularly in the Washington, D.C. area, and have asked for my advice. I believe that prudent investments in residential real estate are a terrific idea in today's economy, for several reasons.
First, there are many properties for sale at very low prices. Second, the Washington area, although it has suffered some job losses, is somewhat immune to major job losses because of the presence of the government and government contractors. In fact, some military bases in this area have increased their troop levels because of base realignments. Third, interest rates are at very low levels, reflecting the weak demand for loans. In my view, this is a perfect time to invest in residential real estate.
Here are a few suggestions on how to invest:
(1) Single family homes in moderate price areas ($150,000 to $250,000) remain the best places to invest because they are within the reach of first time home buyers;
(2) Look carefully for properties, and learn the neighborhoods in which you want to invest;
(3) If you don't have the expertise (or the time) to find your own investment vehicles, partner with those who have a proven track record for these investments; and
(4) DO YOUR HOMEWORK--there are no guarantees in real estate, but knowledge, the right partners, and the right advice should serve you well.
If my office can advise you about your real estate investments, or help you structure the entities for holding those investments, let me know.
My office handles all types of commercial legal matters, including litigation, and, if we cannot serve your legal needs, we will make sure that you are referred to the proper attorney. Please contact me if I can help you in any way. Thanks.
--Mark L. Rosenberg
301-913-0077
www.marklrosenberglaw.com
