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It would be unwise to invest all your life savings in any one investment, whatever that was and where-ever it was based. Risk is significantly reduced when you spread your investment over many different investents and markets ("the portfolio effect"). Property can be a very good place to invest your money, but at the moment (due to the credit crunch and uncertain markets) should only be entered into with caution.
There is still uncertainty in the US market, so this is not the time for a first time investor to be investing there. Look for markets with stable, growing economies and a shortage of good quality housing e.g. Slovakia/Czech Republic. Your investment will be relatively safe and should also get some good gains.
As for WCP - its probably best to wait until the Fort Apache option holders have been paid out before investing.