Morning! In this episode of the podcast we spilled the beans about the new project we’ve been working on: The Property Hub.
Listen to the episode to find out what it’s all about, or go check it out now!
This week we were looking abroad, and put together The Beginners Guide To Overseas Property Investment.
Investing in a sunnier climate (at the last count: everywhere) is a common dream, but is it a good investment too? In the last property boom, fortunes were made and lost in overseas investment – so should you get involved, and how do you avoid some of the risks if you do?
We looked at reasons why you might want to invest abroad:
- As a holiday home
- Purely as an investment
- As diversification or a currency hedge
Then having decided to look into it further, there are a lot of factors to consider when it comes to picking a country to invest in:
- Political stability
- The legal system, especially property laws
- Do they have a land registry?
- Economic conditions: unemployment, GDP, inflation
- Currency stability
- The tax system
After picking a country, there’s all the same due diligence as you’d do in the UK plus a bit more on top:
- Is lending possible?
- Who will you rent to?
- Who could you sell to? Is there a liquid market?
- Will you buy from a UK agency or someone on the ground?
- New build or old? If new, who is building it?
And we ran through some risks to look out for:
- Tax and policy changes
- Bubbles bursting
- Currency risk
- Infrastructure changes
- Your own lack of knowledge
In conclusion, we decided that the only way to protect yourself is to make yourself an expert: digging into all the economic and political factors on top of your normal due diligence, and thoroughly researching everyone who will be assisting you with the buying process.
And if you do go ahead and buy somewhere sunny you’ll invite us over for a mojito, right?
Resource of the week
This week’s resource is a book that we’re featured in! It’s called Get Up To Speed With Online Marketing, and you can buy it on Amazon here.
The Property Podcast appears as an example of how beneficial a podcast can be to your business, which just goes to show how up-to-date the book is as weíre still relatively new. If online marketing is a part of your business, this book is well worth a read.
Tell us what you thought of the show!
Have you ever considered buying abroad?
If you have invested overseas, what do you know now that you wish youíd known at the time?
Just let us know by leaving a comment below!
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