foreign investors

11 Replies

Recently I have had a few foreign investors contact me on linkedin interested in some of my bigger deals I have with other wholesalers. not thats all fine and dandy but my issue is that i cant contact them since there phone numbers are local to their home country. i have also noticed that emails are rather slow with them. how should I move forward to get these deals done? Also do any diffrent contracts need to be drawn up to accommodate the investor being out of the country.And lastly how should funds be transferred bank wire, mail a check etc?

my issue is that i cant contact them since there phone numbers are local to their home country

Phones can actually call a non-US number.  I'm sure you know that, so I assume cost is the issue.  Use skype or some other VOIP service and its cheap.

i have also noticed that emails are rather slow with them.

Time differences can be troublesome.  So, people may be sleeping when you e-mail them and vice versa.  So you may have to adjust your schedule to accommodate your customer's needs.  But e-mail works just fine to most countries.  If responses are slow and its not a time zone issue, then the other person is just responding slowly.

cost isnt a issue for the phone calls. i actually tryed to dial the numbers but got a error from the phone company each time.

You can usually tell scams from legitimate people.

My questions become:

1. Are they who they say they are??

2. If they are who they say do they own and control the funds to purchase??

If you have concerns get away from the call and e-mail and onto Skype. Look them in the eyes and if they are looking away when asking questions etc. then you have issues. If not Skype if they have a newer phone you can video chat right from the cell phone.

After you do this for awhile you cut through the bull. After qualifying them I usually converse through e-mail. I have had no problem getting back fast e-mail responses from overseas accounts.

Originally posted by @Shequann Burrwell:

Recently I have had a few foreign investors contact me on linkedin interested in some of my bigger deals I have with other wholesalers. not thats all fine and dandy but my issue is that i cant contact them since there phone numbers are local to their home country. i have also noticed that emails are rather slow with them. how should I move forward to get these deals done? Also do any diffrent contracts need to be drawn up to accommodate the investor being out of the country.And lastly how should funds be transferred bank wire, mail a check etc?

I don't know where to begin here lol

We have been working with foreign investor for quite a while now. I to was once a foreign investor.

It is very long and time consuming process getting all the nuts and bolts into place.

Emails are slow due to different timezones and also most of the investors have other jobs and business to run.

Funds are wired in from overseas. That's the easiest and quickest way to do it, although its not that easy lol

Hope these minor tips helped.

Thanks and have a great day.

@Engelo Rumora   It may be legal, I was just assuming I cant have someone overseas just wire me 100,000 ... 

@Shaun Lapsley  

  in correct you can have someone form overseas wire you funds at any time I do it fairly regularly.. they will want to use forex so they don't get hammered on exchange rates.

Originally posted by @Shaun Lapsley:

@Engelo Rumora  It may be legal, I was just assuming I cant have someone overseas just wire me 100,000 ... 

Hi Shaun,

It will just come down to the arrangement you have with the investor.

I have had numerous people wire funds into my business account when I was doing JV deals.

They can also wire funds into a nominated attorneys trust account or if they are buying a property it would go into the title companies trust.

Just depends.

You might run into with issues when completing the wire. The Patriot Act has made things very difficult with the US banking system.

Thanks and have a great day.

@Shequann Burrwell  

 You also must comply with knowing your partner in regards to their source of money. You don't want to become an unwitting participant of a money laundering scheme.

how can i confirm there source of capital is real. i have been approached buy foreign investors and lenders as recent as a few days a go quite regularly. I entertain there interests as much as i can but usually communication breaks down and the deal falls threw.

One option nowadays is via social media networks or social media applications. Best is always to try and adjust to your customer's means of communication. Here are just a few examples of commonly used social applications and social media in general in different countries:

Japan: Line

China: WeChat or QQ

Europe: WhatsApp or Facebook Messenger

Communication Apps such as Skype are pretty good because it is most often not blocked in any country. 

Other methods to keep in contact with your international partners would be to sign up on international real estate referral networks.

Oh, and funds are usually wired in. 

@Shequann Burrwell Depending on your local law and regulations the source of funds and UBO (ultimate beneficial owner) must be identified and checked when dealing with (larger) investments. Do not rely of social media or just a telephone number to confirm the identity and the client's statements.

My advice is to use a US based currency exchange broker who is also obliged to check the identity and source of capital when opening an account, and co-ordinate this with them. Both in the US ánd in Europe the consequences of being a party in or facilitating money laundering and a whole list of other illegal activities are a large risk. Don't be a part of it.

Good luck.

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