MY FIRST OVERSEAS DEAL ZIV MAGEN
based readers). Australia, Japan, Hong-Kong and
Singapore are all more highly regulated and
manageable in that regard, and were also more
accessible physically for me. Now, almost five
years down the track, I’m more comfortable with
my deal evaluation and remote management skills
and I do invest in the US now. Though, I confine
my investing to note structures and similar deals,
which are more contractual financial arrangements
than actual property investments and require very
little maintenance post-setup.
For geeky scaredy-cats like me that prefer
everything as reliable, quiet and by-the-book as
possible, Japan wins hands-down! Japanese are
among the most honest, reliable and downright
honorable folks on the planet, and are well aware
of being a rarity in that regard. Traditionally, they
are very wary of conducting business with
foreigners. Once you break through that barrier,
though, it’s the most relaxed and enjoyable
business environment a geek like me could hope
Sure – Many people think it’s all about “getting
those deals” and that getting as many realtors,
financiers and potential buyers on their “lists” as
possible, is the way to go. Those who come from
a self-employed background, like a small business
or shop, believe that this is what works best.
I
suppose if you’re a wholesaler, flipper or “serial”
investor who works a certain market hands-on, it
does.
for.
I’m a firm believer in “setting up the infrastructure”
In previous REI Wealth Magazine articles, you
discuss building a team.
Could you quickly cover
the types of team members needed?
Partnering up with a verifiable and
reliable local entity,
whether as an equal business partner
or as a turnkey operator, will save
you from numerous mistakes that
local know how could easily
sidestep
first and foremost, in any new market.
That
infrastructure is always the legal and financial
representation. My perspective comes from being
mostly a remote investor, more diversified and
hedged geographically, and also from my project
management background. You’ll rely on legal and
financial representation heavily when you’re new to
any market, and may need to refer to them time
and time again, regardless of which deals you’re
considering. So, get them right the first time, even
if it means it’ll take longer and cost a bit more to
start off.