BEST PROPERTY INVESTMENTS ABROAD + SPAIN + PORTUGAL + CYPRUS + BULGARIA + FRANCE + ITALY
Best property investments abroad * Spain * Portugal * Cyprus * Bulgaria * France * Italy * where to buy the best property investments abroad * USA * Thailand
I am always being asked - "Which are the best countries for investment property?" which is bit like asking how it costs to build a house. Because the answer will always depend on what you want and what you are trying to achieve. How much do you want to invest? Why are you buying a property? What type of weather do you want? Can you stand the heat? Will you miss the seasons? Is your plan to buy to let or sell on?
What never ceases to amaze me is the mess so many people get themselves in. So many people seem to get off the ferry or plane and leave all commonsense and reasoning behind in the over head locker. So when the air stewardess says "make sure you don't leave anything behind." Make sure this includes your brain.
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I don't think I have week go buy without a phone call or email from someone who has bought a property abroad and got themselves into a mess. Some kind soul has given them my name as someone who might be able to advise them because they have bought a property that; doesn't have access rights; hasn't been finished and they can't get their deposit back; they have made a down payment and can't raise the mortgage and can't get their deposit back; the builder has disappeared with their money and any one of a hundred other problems.
Before I ask the question "Have you spoken to the Notaire, Notary, Lawyer etc who handled your purchase?" I know what they are going to say. "I didn't employ one, I used their's." So rather than pay out for a lawyer to protect their interests, they thought they would be clever and save a bit of money. Now, rather than employ a lawyer now, they are hoping that I am going to waive a magic wand, pull a few strings and sort the problem out for free. It ain't my job - get a lawyer.
Let me get this right. They have come to a foreign country, where the don't speak the language, don't understand the law, haven't read up on inheritance tax, capital gains tax, both of which will affect any overseas property investment, don't understand the red tape and bureaucracy and have signed a contract (most probably in a foreign language) and handed over their money and all without taking any legal advice?
Would you buy a property in your own country without a survey, land searches and conveyancer to do all the searches? Well you might if you were a total idiot but I don't think so.
Then there are the people who have bought an investment property with a view to generating rental income and find that they can't get the bookings and now can't meet the mortgage repayments.
If you are buying to let, where you buy and what you buy is paramount. I speak to people where the buyer say; "the estate agent (developer) told me I could get such and such a week and it would be easy to get 25/30 weeks a year."
Of course they did - didn't you seek any advice other that that coming from the person selling you the property? Here is the best place to advertise holiday property.
Renting holiday property in France
Renting overseas property
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