October 21, 2016 by Lief Simon
3 Ways To Leverage Your Next Overseas Property Purchase
Leverage is the Holy Grail for just-getting-started real estate investors in the United States. A mega-industry has developed around no-money-down gurus and their systems.
I bought the program of one of the best known of these guys, Carlton Sheets, more than 20 years ago when I was getting started at this myself.
Indeed, I followed Sheets’ advice when making my first property investment.
I was living in Chicago at the time and identified a Chicago neighborhood that I believed was poised for big and quick growth.
In this neighborhood I found a three-flat building for sale. My plan was to buy the building and live in one of the three flats while renting out the other two.
I was 27 years old at the time and didn’t have the US$210,000 sales price in cash. I needed leverage.
In fact, I didn’t even have 20% for the down payment. I had US$5,000 that I had borrowed from a family member. Following Sheets’ lead, I shopped banks until I found
...Continue Reading »