Greetings, after reading some topics in the forum, I haven’t seen any topics on real estate investing in other countries. So I would like to ask does anyone have any experience Investing in overseas real estate? If so could share some knowledge on how to get started? I plan to build my foundation in the states, but after traveling abroad, I would like to own some assets in other countries as well.
Build your foundation first. Real estate is local. If you want to invest out of state, or out of country have a team you trust and know the area. Id hate to have to get emergency calls on two sides of the world at the same time.
Hi,
Ashon brought up a few really good points but let me add this to your thoughts. First every individual country has different laws, every single state or province has different laws. Escrow / title is different in every country, inspections, contingencies, realtor fee's, etc. vary by country.
But probable most important is that in most all countries US citizens can not get financing, in fact in a lot of countries financing is unheard of, so wanting to invest over sea’s and doing it are two different stories.
In fact in Russia there is no escrow so you actually put your cash with an agent (Borsche) who exchanges the property keys and title for your cash, fraudulant agents will run off with your money.
Stick with the tried and true and only real United States of America real estate!
GR
I agree with the PPs above. It’s true you can’t just jump on investing overseas without gaining mastery on how to invest locally. Local REI is your training ground, and from here you will gain experience and wisdom so you could invest more intelligently with different laws and culture overseas. The idea of an overseas investment is just great, who wouldn’t want that? But bear in mind that you would want to succeed so better to prepare yourself first locally. Good luck!
Thank you all for your input on the subject. Im building the foundation now in the USA, since im working overseas at the moment I wanted to speed things up by jumping into investing in opportunities here. Everyone is right, the rules and the way of business is very different, so for now I will focus on opportunities in the States until I become more sophisticated.
Yeah, i agree on that. Although I’m not a real estate investor, I must say that it’s a good idea that you build your foundation first on one area then eventually expand to other countries. Also, you can focus on it and master the business. From there you can learned a lot from experience an see if you can invest to other countries. I may not be experienced on this matter but i have basic knowledge since my friend owns a company that provides comfortable, affordable temporary housing for companies and individuals coming to the Texas/Mexico border for business trips or relocations. Every time I had to go for business trips in those states, i use temporary apartment rentals.