Buying Property in a Foreign Country

Discussion in 'Buying & Selling Real Estate' started by MillionsMercury, May 13, 2015.

  1. Rainman

    Rainman Senior Investor

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    There's always a risk involved in any venture. As it has been noted, it's always a little safer to invest in countries whose political stability for the next three or so decades is assured. However at a time when everyone thinks there might be a world war in the near future, it might not be the right time to buy property overseas.
     
  2. turt

    turt Guest

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    There's a lot of costs to holding any type of property though. What are you going to do if something goes wrong there? Fly, take off work... And it some countries, someone has to watch the house so it doesn't get robbed or get filled with squaters.
     
  3. CarpeNemo

    CarpeNemo Well-Known Member

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    The ideal scenario would be to own a business or property that doesn't have issues with that - e.g., buying into an existing restaurant with workers, or buying an apartment complex with a manager already in place. These people already have jobs, and nearly nothing would change for them during a takeover. In the case of an apartment complex, the manager could be responsible for acquiring and maintaining tenants instead of the owner and would probably flourish under those conditions if a tenant sign-on bonus and/or a yearly bonus was involved. For a restaurant, business as usual. Barring major employment issues, the owner might never even have to set foot in the country.
     
  4. Glcameron

    Glcameron Well-Known Member

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    I think when you factor in the exchange of currency as well as the local taxes it may be a great idea to think of perhaps purchasing a property in a foreign country. There are quite a few individuals who were watching shows like house hunters international and will try to go overseas to purchase a property without really looking into the local economy. If you going to go the route of purchasing something that is in another country and use it as perhaps a vacation or a sublet option you may consider contacting a company that has properties overseas and also manages them allowing you to speak with one individual agent for your particular property.
     
    Last edited by a moderator: Jul 8, 2016
  5. Sunflogun

    Sunflogun Well-Known Member

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    Not quite, location is what matters here. If the location is good, buying abroad can be a great investment because we have the capital as in other countries the currency is not as strong.
     
  6. pwarbi

    pwarbi Senior Investor

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    While it's true it can be a good investment, I wouldn't be jumping in with both feet until I knew exactly what the laws of the land are, and without legal advice from a solicitor from that country.

    In a lot of countries, especially around Europe, there is a lot of laws that can restrict people from building on certain land. A lot of people have only found this out AFTER they've bought or built their home there and have lost everything.
     

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