Invest In A Foreing Country
that is not a bad idea. I am croatian, and somewhat aware of what things are like in easthern europe.
You need to know how much the rents are in those countries and also how will you finance your buy. Will you buy for cash, or do you need a bank. If you need a bank than it will be here and you will have hard time hiding the income. Also it has to be either big city with foreigners and companies or it has to be a turist place so you know what your target is and that ther will be demand.
agnes [ Edited by agnes on Date 10/10/2003 ]
expired[ Edited by danddro on Date 09/02/2013 ]
Think about all the risks you have when you invest in property in the states.
Now, magnify them and add some new ones:
Your not just far away, you're VERY far away.
The legal system is unfamiliar.
The tax structure is unknown to you.
The legislative environment may or may not be stable, the constitution may or may not protect foreign investment. If not, your investment could be severely molested ... even our country passed FIRPTA and gave foreigners a haircut.
You may not speak the language, and even if you do, do you understand it like a native?
The currency may not hold up ... their inflation could clobber you.
A wave of anti-foreign sentiment could cause your property (known to be foreign-owned) to be damaged, destroyed, or at least boycotted.
There may be rewards to justify all this risk, but you'll need to consider that very carefully before committing any money.
Thats true, you can't exactly get into your car and drive over to check things out. You'd have to have a very loyal property manager for it, and what are the chances that you know someone that could do it overseas? It may be worth it as far as money is concerned, but it may be more of a money taker than maker in the long run
Interesting if risky....but a suggestion:
See if you can locate some local (to you) businessman/woman who is native of that country and has knowledge of its biz climate; then check to see if he/she has totally good local rep, and maybe make a deal with them to look for, find, help you acquire & manage good props in that country when next they're over there.
One thing for sure. You'd need dependable & trustworthy eyes & ears wide open in that place before spending the first $$$ or ruble or whatever.
And I'd sure recommend any investment dollars be VERY low so as to limit risk if the whole country's climate turns bitterly USA or otherwise blows up.
Interesting thoughts Mr Merchant, I am from Australia and have done a RE Reps course over there a coupe of yrs before I came to the USA to live
.....in reference to my last post, perhaps I should get the beloved EX to do some bird doggin' over there for ME! maybe then he'd hold up his end of the mortgage payments
Danny,
Do you have URLs that you want to share? Actually I'd like to know more. Thanks.