Investing in rental property remotely (overseas)
Hong Kong, Hong Kong Island · Member since 2016 · 2 posts · 0 votes
Hello
I am a New Zealand citizen, currently living and working in Hong Kong. I am looking to invest in rental property and the Hong Kong market does not appeal to me. Therefore I would like to invest back in New Zealand or some other market.
Does anyone have any advice or links to any forums that I should look at?
A lot of people talk about visiting over 100 properties before finding the right one to satisfy all of their criteria. How do people go about doing this from overseas? Appreciate all of your ideas.
Thanks everyone.
Jason
Jason that is not quite the rule. The rule is you have to make 100 offers to get 1 property. Not true anymore but it is what we used to teach. My advice is to connect with a kiwi investor or investor friendly agent and get them to assist. As you probably know there is not that much to worry about here.
Get it inspected, get a rental appraisal, make sure it isn't leaky, that's about it. Title isues are non existent.
So really your first step is decide what you want to spend and in which city and get going :-).
If you're interested in Auckland feel free to PM me, I can help you find/vet deals here.
hi @Jason Kelly,
The first 3 questions you need to answer yourself are:
where do you want to invest ?
what is your budget.?
your buying criteria?
you can use the service of RE agencies who specializes in Investment properties. PM me if you would like me to refer.
Im happy to comment further if you answer the questions above.
Hi @Jason Kelly. Im also looking into this way of doing it, would be cool to work togehter? Two brains are better than one?
Hi @Jason Kelly
As @Hadar Orkibi said once you know your criteria you can then start getting to know contacts in your target areas. For example, is it Cashflow or equity growth you are predominantly looking for? That will likely make a big difference on your location and/or type of deal you are looking for, etc.
Once you have all that info you will be able to reach out to the specialists on the ground in those areas with a description of what your after so they can start to bring you leads to evaluate. Without that criteria there is just too big a market to look at that could all be deals depending on the situation.
If you need help in the Dunedin or Christchurch markets then pm me as I can either help or point you in the right direction. Also, there is a Kiwi group starting up on BP here so come and introduce yourself to see if anyone else can help?
@Jason Kelly, Hello from Tampa, Florida. You are in Hong Kong and working at a good JOB? You have money to Invest and you think that Rentals are the way to go? I saw on the BBC report this week that property values in Australia are out of this world. If I had only bought a property on the river in Perth 40 years ago when I was living there. I just saw a documentary saying that per square footage Hong Kong is now the most expensive in the world and they have run out of room for all the people. Why not buy a big barge and build it up into a floating Hotel for travelers to make some Daily Cash Flow. Look at the Macau Floating Casino.
https://www.tripadvisor.com/Attraction_Review-g664...
When I was growing up in the San Francisco Bay Area the hippies started building house boats across the Golden Gate Bridge in Sausalito.
http://www.sfgate.com/homeandgarden/article/Sausal...
I have some small houses that I built in the State of Rio de Janeiro, Brazil and a small farm where I wanted to retire. I get the creepy feelings when BP members suggest that they can buy Rentals or Invest in foreign properties and expect things to go well. The laws are all different, even State to State here in the US and non of them are favorable for non-citizens to hold onto their property rights as an absentee owner. When I was working on the Oil Tankers, I taught myself to Invest in Mutual Funds and made the $100K that I used to buy my Rentals in S. Tampa. Some of the guys have said that they just Invest in REIT's. No Tenant headaches. No Evictions. No Maintenance and Management. Instant Liquidity. Go Long and Short with Options. You can study and research for good ones online, anywhere in the world. There should be a way to hookup with the members on BP who do use Real Estate REIT's to make their money. I follow Harry Dent's predictions and this week one of his four Advisors came up with the idea of Investing in the World's Most Premier Real Estate Towers. If there was a Real Estate Mutual type Fund in the Trump Towers, would you want to buy some shares? Your in Hong Kong. Learn how to trade Forex and specialize in the Yuan Renmindi.
@Jason Kelly you can look into turn key investment properties. I would caution you to make sure to thoroughly vet the property management company and get references for the property manager. I would also have the property management company give you their take on the property and have it checked by an inspection company. You can get decent returns this way. Last year I sold off 2 of my rental properties to turn key buyers. Best of luck to you in your venture.
-Paul
Hi All,
Thanks for your comments and support. I appreciate all of the responses and am pleasantly surprised by the number of comments. Thanks again.
To answer some of your questions:
1) I would be investing for rentals with a focus on cash-flow
2) Location would preferably be NZ, however if there are other countries with the right opportunities I would look there also.
3) Ideally looking for property less than 300k USD.
@Colin Mooney & @Simon Kearns I will reach out to you directly.
@Michael Haynes - I like your thinking outside of the box. Maybe you're on to something with the floating hotel. Another friend suggested I look at Real Estate ETFs. Exposure to the Indonesia property market through this mechanism would appeal to me. Are there any REIT that you've had experience with? Do these have leverage options?
Cheers
Jason
Hello
I am a New Zealand citizen, currently living and working in Hong Kong. I am looking to invest in rental property and the Hong Kong market does not appeal to me. Therefore I would like to invest back in New Zealand or some other market.
Does anyone have any advice or links to any forums that I should look at?
A lot of people talk about visiting over 100 properties before finding the right one to satisfy all of their criteria. How do people go about doing this from overseas? Appreciate all of your ideas.
Thanks everyone.
Jason
Going with a Turnkey provider might help you from having to visit all of these homes. That is assuming you find a legitimate turnkey provider. Be careful of scams or just agents claiming to have a turnkey.
Also, I am not 100% sure of how things work in New Zealand so none of this may apply.
Good luck!
@Jason Kelly, From Tampa, Florida. I am a Futures trader. I just trade the S&P Emini or ES. My chart Time Frame is 1Minute or less as I am a micro-scalper who trades the Current Price Movement. "If it ain't moving, you can't trade it." My partner trades Options on the SPY and his average is $1000US each morning on his laptop. I have not done my study of REIT's or ETF's that are Real Estate plays. My neighbor works for a company that Buys and Sells Hospitals and we know that for the Future, there is going to be big Demand for Nursing Homes and Medical for all the Baby Boomers who are Retiring here, like ten thousand a day. People think that the Markets always go up, but, this is going to be the biggest drag on the prices of everything for the next 20 years as all these Boomers draw out their Money from Stocks, 401K's, Mutual Funds and IRA's and there is less Demand for big ticket items. The Millenials won't save us. They can't even pay down their stupid Student Loans, much less, Buy a Home. I studied Mutual Fund Investing, while I worked on Oil Tankers and I made $100K that I used to buy my Rentals in S. Tampa. Real Estate Investing, Rentals, Buy and Hold or Flips are just some of the many ways to make Money. Diversification is a way to protect yourself against Losses. You should not place all your eggs in one basket. If you don't have a BP Group in NZ, you can partner up with an Agent who lives there and get one going. I have Rentals that I built outside of Rio de Janeiro, Brazil, where I plan to retire. I only need a Fast Internet connection and my laptop to make Money each day with Futures trading. I have a small farm outside of town for the weekends and another property to develop on top of a mountain with endless, fresh water running out of the top of the mountain. Farm country with lots of food everywhere on the farms. 320 sunny days a year. No inclement weather. No hurricanes, tornadoes, earthquakes or floods where I live. Surfing in front of my home on a hill, behind a three mile lake on the beach. Plan something good for your Future. I don't know the Laws in NZ, but, there must be some Tax-free or Tax-deferred type investments there. Check them out and especially using Real Estate. Expand your Investment Horizon. Maybe a popular Franchise to start up that does not exist in NZ?
300K USD would exclude Auckland but would still get you something in smaller towns and cities.