Property is probably not a good investment right now, even for rental. As prices head down your capital investment will be declining faster per month than your rental income brings in. And rents will go down because so many people who were looking at selling a property find there are no buyers so they rent it out pushing the rents downwards.
On the other hand if you are long on cash and dont need to arrange financing then buying property at very distressed prices at auction may not be so bad if you know enough about real estate.
Other than that spread the risk around - find out what foriegn banks have their deposits garaunteed by their governements and how much you are allowed to invest. Irish banks are government backed, German ones are virtually and British banks are being taken over by the government to keep them afloat rather than allowing capitalism to take its course and for them to go bust.
Its a tall order to make money grow when everything is going down. If you can keep hold of what you have got by minimising risk then you are doing well.
On the other hand if you are long on cash and dont need to arrange financing then buying property at very distressed prices at auction may not be so bad if you know enough about real estate.
Other than that spread the risk around - find out what foriegn banks have their deposits garaunteed by their governements and how much you are allowed to invest. Irish banks are government backed, German ones are virtually and British banks are being taken over by the government to keep them afloat rather than allowing capitalism to take its course and for them to go bust.
Its a tall order to make money grow when everything is going down. If you can keep hold of what you have got by minimising risk then you are doing well.
