Buying investment property overseas.
Good afternoon everyone at BP
I'm looking to invest out of state. When I say out of state I'm actually meaning out of the country. I'm aware that @David Greene has a new book out for out-of-state investor. I'm currently listening to the audible version. I know that @Brandon Turner would love to own a property in Hawaii and surf everyday unless he already bought one. I'm looking to invest overseas in Europe. That means building a team from ground up. I'm aware the process could be somewhat more complicated when you start crossing the ocean. I have seen a few BP podcast about Investors investing in South America but I have not heard one about people investing in Europe. If your BP member who is actively investing in Europe I'll definitely love to hear from you. If David Greene is reading this post have you thought about investing in Europe? Now that you're not working 90 hours maybe having a villa somewhere in Europe is not just a good idea but maybe a new book in the works? " I can always hope"
I found many useful scripts from BP for contacting buyers and sellers . Do any BP members have good scripts for contacting real estate agents and property managers that are overseas and will be working with a foreign investor? Does anyone have past or current experience working with oversees property investments?
My plan is to build a list 30 + people for real estate agents and then contact them through email with a specific script. This is just a start the search. Once I have Muliple locations I would build a new list for that location. I'll be focusing on one country I'm trying to narrow down the agents to one's that respond to emails in a timely matter. Then next day contact them by phone the ones that did not respond.
To make a note this is investment property outside the United States. because there's difference in time zone I want want to make sure he/she is able work through email before contact them by phone. I'm also taking steps create a local call forwarding number so when they contact me they have a local number to dial. I believe this would be useful when building my team.
My initial contact would be as follows for real estate agent
"Good afternoon
My name is yaroslav I'm looking to invest in real estate in your area. I'm looking to purchase one to two bedroom property as starting investment for vacation rentals. The return on investment I'm going to be looking at is 5 to 10%. What is your experience working with foreign investors. If you have experience working with foreign investors do you have past purchases you can provide? What area in the country do you specialize in? What class neighborhood would you rank your experience in from A-D, A being ( excellent condition properties high income Best location) B (Good condition properties second best) C (C location is likely a lower-income area with homes being older and needing work.
From your professional experience what rate of return investors are seeing and what areas are they in investing in. We are building a team so that future Investments could be made do you have Property Management and legal services you can refer, that have worked with foreign investors. What is the best time to contact you.
Contacting Property Management Company.
Good afternoon
My name is Yaroslav I'm looking to buy investment property in your area. What is your experience working with foreign investors? How many doors do you currently manage? What areas are you property located and what is your fee for property management and what are the services that are provided.
What type of return are your customer seeing on investment property's? Do you have a real estate agency that you can refer who works with foreign investors? Can you refer a attorney that works with foreign investors.
I welcome all feedback from the BP community, looking forwarding to reading the responses.