Monday, 7 November 2011

Important considerations when investing overseas:


When dealing with an agency is important to make sure you know who you are dealing with:
1: Meet the Team 
Find out who everyone is and understand what their roles. Know who are the people involved with this company.
2: Get referrals:
Get as many referrals as possible, see what they have to say, its hard to always have everyone happy so listen to what the complains are about.
3: Property Management but most important factor for investing is a good solid management team 
How they handle the following:

A: Repairs - 
B: Evictions -   how long to re rent and what cost associated with that ?
C: Payments -How do they processed.
D: Monthly reports (P & L Statements) profit and loss statement...
E: Rehab requirement  (what type of work is been preformed on the property)
4: Real Estate Goals
Have a plan with which will  exactly what you want to achieve with your real estate and how to act if things do go as plan. So many people overlook this important step when buying property.
5: Personally viewing the properties and the Team in action

View the properties and see how the company runs. Try to be there on weekdays so you get a good feeling of how things work.  Videos and pictures are good but not always tell the whole truth about the property.

And last but not least.. always ask for recent sales on the same street that you are buying and make sure that you buy from someone that owns rental houses in the same are to avoid dealing with just another salesman.

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