REI Wealth Monthly Issue 09 | Page 17

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.