Wholesaler · Washington, D.C · Member since 2011 · 449 posts · 94 votes
I have recently ran into a ton of real estate agents that have foreign investors. One agent told me that he buys the properties, fixes them up, puts a tenant in place and then sells these to foreign investors. He told me that these guys will buy anything that he puts in front of them.
Guys - This is a discussion area. . . lets try to keep to the topic of how to find foreign buyers. If you want to actually solicit buyers, you'll need to do so in one of the dealmaking forum areas. Thanks.
Contact a person from a foreign country (like me) haha
Myself being from Canada is very easy to find buyers for Florida properties since the statistic show that 50% of Canadians are interested in a second vacation home. So Florida is on everyone's radar up here as the place to buy.
Guys - This is a discussion area. . . lets try to keep to the topic of how to find foreign buyers. If you want to actually solicit buyers, you'll need to do so in one of the dealmaking forum areas. Thanks.
Mike Nelson, why not just ask the agent you were discussing it with, or ask if you could refer deals to him, etc.? But... should anyone have specifics on how to find those foreign investors, I know we'd all be interested.
If you've got a big project (talking in the millions) the EB5 visa program is a great way to find foreign investors. The government will basically line people up for you.
... and then sells these to foreign investors. He told me that these guys will buy anything that he puts in front of them.
Haha Mike, will hope these investors not dump :) but looks like this agent found sort of one ;). We had some interesting topics here at BP last months.
Wouldn't it be smart to partner up with foreign real estate agents and brokers, maybe even entrepreneurs? Build relationships with these people that way you can have a 2 way communications plan. For example, you send them American clients that what to buy real estate in Mexico and they send you clients that want to buy in Texas or Florida. Just a simple idea but I think this would be the best way to start attracting foreign investors. Personally, if my best friend who is a real estate agent in Houston, recommended me to a seller in Canada, I would take his word for it and work with that particular seller. Word of mouth is always the best marketing.
we actively work with foreign real estate agencies through referral deals. The Riviera Maya is by definition a place that attract foreign buyers who look for a (second) place in the sun. It is very possible to create win-win situations.
PR and Marketing. :-) Send press releases to foreign press about what you are selling. Connect with people through social media. Contact foreign real estate agencies directly.
In my opinion, there needs to be an intricate software/ app for that, to create a connection for international investment. Like a match.com which connects peoples real estate goals with appropriate parties/ investors. It's hard to build relationships internationally without some way of meeting them beforehand or a 3rd party to connect you. I think real estate is all about integrity and building lasting relationships, quality over quantity.
The time difference, cultural issues and language might be other considerations to deal with some foreign investors.
Overall, we have seen a range of different activities by Agents in the US:
- Listing agents are promoting listings directly to overseas investors. The time and language difference is not really being addressed in this scenario but can work fine for some overseas investors.
- Connect with foreign agencies who are dealing with foreign investors in their local country
- Learn something about a foreign culture or a few words in that language as it will show goodwill when you receive that first referral and start the relationship on a good way
- Become active in groups in local community that have strong international connections (e.g. Asian Chamber of Commerces, etc.)
We have seen most success when there is indeed a relationship being built as few overseas investors might be inclined to do business otherwise.
I am an international portfolio manager and investor relation for an elitist investment company, it's a very smart product for the select few in the world as it offers very high returns guaranteed by a trust containing real estate in key areas of Mexico.
When I started my mentor told me if you know 7 people you know the world. I sell minimum 250k investments to people on the other side of the world, If you are not introduced properly by a friendly face you are going nowhere.... One word : Ask ! Pitch you r friends, family, business owners you know etc, and ask this may not be for you but do you know someone this may interest ? I have done business with royalty in africa and very high profile people in the US and Europe just by asking. If the person you pitch says no it's not for them, instead of walking away ask if he knows anybody that would be interested, little by little you are going to have a real thing going on.