Lief and Kathleen share their failed real estate purchases overseas hoping that these experiences will help you to avoid making the same mistakes as you look to invest in real estate overseas.
Lessons from Lief and Kathleen’s failed real estate purchase experiences: Diversification is key
• Don’t buy a second unit in the same project (before the project is completed and seeing returns)
• Don’t buy something if you don’t know the market you’re buying into
• Who’s going to rent or buy your property and who’s your competition
• The key to success is getting the right rental manager
• Buy based on a reasonable expectation of cash flow, and not a promise of appreciation (which may or may never appear)
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