INTERNATIONAL PROPERTY INVESTING BASICS 3 –”STRATEGY AND TEAM” ZIV MAGEN
(essentially becoming a "turnkey operator" yourself), before exploring another.
Here's a list of the professionals you'll need and where to find them. Always remember that reliable word-ofmouth referral, while reducing the extent of due diligence and background checks required, does NOT
eliminate the need for both to be religiously performed on each and every one of the below professionals:
1.
Realtors (listing publications)
2.
Property managers (listing publications- rental sections- often also the realtors)
3.
Insurance agents (local directories)
4.
Certified translators (online)
5.
Maintenance/Renovation professionals (ask your realtors and property managers)
6.
Foreign Exchange/Banking Professionals (everywhere, start with 2-3, narrow down to one)
This is all the infrastructure you need in place to start operating. "Get localized", in the sense of learning about
the areas, vacancies, population trends, industries, nearest big cities, popular and affordable transportation
options etc. These are the criteria that you'll be picking and choosing your properties with. There's no better
place to start building those lists than your local listings (MLS) websites. Close relationships with realtors, wordof-mouth referrals and grapevines come much, much later.
Fine tune your list to perfection. Replace team
members. Unify functions. Get the best out of the
professionals you utilize, and remain flexible.
Stay on top of your market with current news,
local investor forums and the experience of your
team members.
Above all, remember that, as a remote investor,
you're practically immune to the real-estate
investor's worst enemy - emotion.
By associating with, listening to, and following the
advice of local pros, and rarely visiting in person,
you can focus on the final and most important
building block of your international property
portfolio-
Your approach, like your choice
of country, should be a
localized version of whatever
you’re comfortable with
personally