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How to buy property overseas? |
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SSuF Admin
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Subject: How to buy property overseas? Thu Aug 13, 2009 2:47 am |
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This thread is specially for Wealth Creator to answer.
If your not him, you still can chip in your knowledge.
Question is: How to invest in property overseas?
Also:
How will you know what you are buying and not get scammed?
How will you maintain/manage/collect rent from the property?
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Moderator
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Subject: Re: How to buy property overseas? Sun Aug 16, 2009 5:07 pm |
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That day when we met up, i think this was the company he mentioned that helps you find people to rent an apartment out to. Apparantly its an international company based in Australia (or maybe its just a name), operates mostly in Asia and Australia.
Austpac International.
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SSuF Admin
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Subject: Re: How to buy property overseas? Sun Aug 16, 2009 5:41 pm |
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I have seen the company. I just would like his personal input in this because it might different going through the process of buying a house overseas.
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Wealth Creator
Talented Junior
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Subject: Re: How to buy property overseas? Sun Aug 23, 2009 3:14 pm |
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Hi Everyone,
Sorry for not participating in the forum as I was oveseas.
I think, in general, if you are buying properties from reputable companies, you should not fear getting scammed. With regard to how to get your rent from your property, it all depends from different company. The easiest will be to set up an account in that country, and have everything automated. The rent comes in, and the mortgage payment goes out to the bank. Whatever is left is your passive income
Rgds
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SSuF Admin
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Subject: Re: How to buy property overseas? Sun Aug 23, 2009 9:36 pm |
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Set up an account in that country?
You mean an account with a real estate company, or a real estate management company in that country?
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amcpl1
Rising Star
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Location : Singapore
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Subject: Re: How to buy property overseas? Sun Aug 23, 2009 11:28 pm |
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Wealth Creator,
Thanks for your suggestion.
I am exploring Australia property like you have suggested.
How do you know the market rate of the property like in Australia? What is the typical rental rate for that area? What is the criteria to open a bank account in Australia? Do we need to be there in person to open the account?
Thanks.
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SSuF Admin
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Subject: Re: How to buy property overseas? Mon Aug 24, 2009 2:23 pm |
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Oh, 'bank account', I see.
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Wealth Creator
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Subject: Re: How to buy property overseas? Thu Aug 27, 2009 12:03 am |
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Hi amcpl1,
You can do some research off the internet to check out stuff like rental yields, real estate market scene, etc. There are alot of free websites out there which even provide newsletter to update you periodically.
For the bank account, you dont need to be there in person. Take for example, if you are interested in Australia property, u can always open up a commonwealth bank account and manage from there.
Rgds
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SSuF Admin
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Subject: Re: How to buy property overseas? Thu Aug 27, 2009 2:27 am |
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How is the property managed? (e.g. rent collection, maintenance)
Are there companies you or your investment company can linkup with?
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Wealth Creator
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Subject: Re: How to buy property overseas? Sat Aug 29, 2009 7:37 pm |
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Hi,
I went thru a vendor named REDWOODS, they are the ones who helped me managed all this.
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SSuF Admin
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Subject: Re: How to buy property overseas? Sun Aug 30, 2009 1:20 pm |
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Oh, good to know. With companies like that, the rent income would really be passive.
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Wealth Creator
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Subject: Re: How to buy property overseas? Mon Aug 31, 2009 1:06 am |
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Hi,
I think you just have to look around more for such opportunities
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SSuF Admin
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Subject: Re: How to buy property overseas? Sat Sep 05, 2009 1:27 am |
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Yeah, I'll definitely keep an eye out.
Investors must have money in different investment vehicles.
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Wealth Creator
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Subject: Re: How to buy property overseas? Tue Oct 20, 2009 1:01 am |
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Hi all,
I recently got to know abt investing in university dormitories. A friend of mine purchased a dormitory (1-room) near a Philipines University. It costs ard S$60k, and she paid in full. Will be expecting passive income monthly of ard S$500 in end 2010 once it is fully built.
I personally do no go for such property as banks are not willing to lend on students hostels, resorts, etc. They only willing to lend on 'traditional' property like apartments, bunglows, etc.
However, it does generate passive income from a property. Those interested, can try to keep a lookout for such opportunities.
Last edited by Wealth Creator on Thu Oct 22, 2009 12:31 am; edited 1 time in total
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amcpl1
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Subject: Re: How to buy property overseas? Wed Oct 21, 2009 1:23 am |
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Some countries like Australia and New Zealand is fine. Some countries has policy that is not favourable to foreign ownership. Might be too risky... But if the cost like Wealth creator mention is that low, might be worth the risk too...
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Wealth Creator
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Subject: Re: How to buy property overseas? Thu Oct 22, 2009 12:32 am |
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Hi Everyone,
Sorry abt the typo. The property I mentioned in my previous post was S$60K, not S$30K. I have made the correction in the post
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Subject: Re: How to buy property overseas? |
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How to buy property overseas? |
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