Buying property overseas is undoubtedly more complicated than buying locally, especially when you do not have much experience. You will have to consider several factors and understand the risks associated with buying property abroad. This guide explores the difficulties you might face as well as some advice.
Understand the risks when buying property abroad
Tax – make sure you account for all the tax you will be liable to pay – the tax at home and in the country of purchase. Every country has its tax laws, so do your research correctly and seek professional legal and tax advice if required. You also need to think ahead. It’s common to be charged taxes when you buy a home and again when you sell it. Some places like Hong Kong impose stamp duty as an attempt to combat speculative practices. There may also be ongoing tax payments that you’ll need to make throughout the year. So you need to not just think about the tax when you buy the property, but also the tax when you own it and sell it in the future.
Check the eligibility – make sure that you have all the necessary permissions and eligibility before signing any form of contract with your real estate agency. Before buying any property overseas, it’s essential to check the local laws to make sure you are legally allowed to purchase real estate there. Even if you can buy real estate in a specific country, there might be some limitations. For example, in the Philippines, you can buy a unit in a condominium project – as long as the locals own 60% of the companies. Foreigners generally aren’t able to hold land. Vietnam, the hottest real estate hotspot in Asia, has similar restrictions too.
Funding – securing a mortgage can be tricky if you want to buy real estate abroad. There are other available options like developer financing for overseas investment. However, you have to explore the options carefully and assess your financial health. Also, the exchange rate matters. Even a tiny change to the exchange rate could significantly affect the value of your purchase and the return on your investment. The worst scenario – this could make a property or your mortgage repayments unaffordable overnight.
Beware of scams and deceptive marketing – buying property overseas involves risks, especially when you don’t know the market well. Don’t succumb to heavy pressure to sign up with a deposit before you’ve had a chance to go through everything carefully and obtain independent advice. Always reach out to reliable and reputable agents who have experience in that area.
Final words – do your research carefully
Don’t give away your hard-earned money because of inadequate research. There is plenty of information online. Do your research thoroughly and seek independent advice before making any deal. If you keep yourself aware of all the target country’s regulations and laws, it can help cut down the stress. That said, make sure you do your research right and consider all risks before making your international real estate purchase.
The internet has taken the real estate industry by storm and shows no signs of slowing down. People are regularly using search engines to find properties online. It has allowed real estate buyers to be more empowered in the entire property searching process. Interested parties can better educate themselves on topics like return on investment, loan programs and overseas property. In the old days, you could only get this information from your real estate agents, who would have to send you their current listings via phone or mail. It was very ineffective due to the delay in information exchange.
The internet has opened communication for many businesses, and the real estate industry is the perfect example. As a real estate buyer, you can make fair use of the Internet during your research process. Not only can you find property listings online, but you can also gain access to a world of real estate knowledge. Check out the below unconventional ways to use the Internet during your real estate adventure.
#1 Use it as a learning platform to obtain worldwide information
Nowadays, real estate investment goes global. A lot of people are looking to buy properties overseas. With a few clicks, you can dig out lots of information about a property in another country. You can also easily connect to an overseas property agency and arrange virtual home tours. Meanwhile, there are plenty of real estate webinars available online. Use them as a learning platform to obtain information from world-class experts. We believe that the key to strategic real estate investing is being educated. So make fair use of the Internet and consume the right information.
#2 Follow real estate “influencers” to get inspired
In 2020, the Internet is very social. Social media platforms, especially Instagram, are changing how people buy everything from clothing to furniture, and now the same can be said for real estate. Real estate influencers can be your inspiration along the way. Of course, you need to select influencers carefully based on their number of followers, credibility, and authority. Follow the ones who can provide you with real insights and useful information. There is no faster way to obtain information through social media. Following real estate influencers also makes your real estate research journey more fun and entertaining.
#3 Exchange ideas with real estate experts
While your real estate agents may not have social media accounts – after all, not everyone loves social media – but you can also “make friends” with real estate experts online. Forums, webinars, and blogs are some great platforms. The good thing is you don’t need to attend those events in-person. With these online platforms, you can sit within the comfort of your home and get information from experts worldwide. If you have any question or doubt, you can send questions to them directly. The Internet has made communication easier and fostered the exchange of ideas.
If you want to join a community of real estate experts, Denzity is an excellent platform for you. We partner with professional real estate agents, developers, world-class investors and advisors to curate useful insights, open dialogues, and peer-reviewed content. Join us today to harness the power of the Internet. At Denzity, we want you to be more empowered in your real estate journey!
As a global online community of real estate experts, Denzity is at the forefront of digitising the real estate industry. While working with so many real estate agencies to bolster their online presence, we have found out that digital marketing is often overlooked. So today, Denzity is going to share some digital marketing tips for the real estate industry.
Use Email Marketing Right
Email marketing has been there for a while, and it’s still one of the most effective marketing tools. One common mistake that businesses make is bombarding people with generic sales messages. This is very dangerous as receivers can simply report your advertising emails as spam, and you’ll never be able to send anything to their inbox again.
Instead, you should use email marketing as an educational and informational tool. Rather than sending out a purely promotional email, think about creating an e-newsletter that combines your informative guides and tips with your most recent real estate listings. Also, do not send emails to random people. You should target mainly your subscribers – people who have opted into your email campaigns from your website voluntarily.
To be more specific, you can organize your email subscribers into different segments based on common interests, demographics, etc. You can create different types of content found on the segments. This can ensure the emails your subscribers receive are relevant.
Start a Blog Today
Are you thinking of running a Facebook ad? Remember, the internet is overloaded with ads already! More and more people tend to ignore the ads altogether. However, you can get prospects to contact you by giving them something of value. That’s why something like how-to info and infographics is very popular. You can showcase your professionalism and demonstrate thought leadership by providing prospects with the information they need. Start a blog today. Create a series of blog posts with long-form and in-depth content on different topics.
However, writing good and useful content is not enough. You have to stand out. Optimizing your content for SEO is essential. SEO stands for search engine optimization. This will ensure that your blog posts are more visible in search results. Make sure you understand the basic SEO techniques before publishing your posts. If no one can find your content in search engines, it’s a waste of time. You can also share your content on social media, email, and other platforms.
Make Use of Digital Tools for Research
We have been focusing on content a lot in the first two tips. But the problem is, how do you know what type of content is appealing to real estate investors? To find fresh content ideas that real estate investors are looking for, you can use tools like Google Trends and Google Analytics to find the right keywords and search terms. Also, be active on social media platforms. Make sure you know what your potential clients are talking about online and the latest trends in the industry. This can help you generate content ideas.
Want to stay connected to the Industry and learn more digital marketing tips for your business? Sign up here to join our community and get inspired! Denzity is a global community of industry experts and provides sound insights, open dialogues, and peer-reviewed content from professional real estate agents, developers, world-class investors, advisors and more.
As the global economy becomes more uncertain, there is also an increased demand for properties as investors are looking to diversify their investment portfolios. Consequently, there are more real estate investors in the market. With this increase in demand, there is a need for real estate agents to set themselves apart from the competition. As a real estate agent, you cannot just sit back and wait for real estate investors to come to you. You are not going to get enough clients without always prospecting. But thanks to the Internet, finding real estate investors is easier than before. The door of opportunity is always open. It’s up to you to make it happen.
So, how do real estate agents find investors online? Below are some expert tips on how to get investors in real estate and take your business to the next level:
1. Become a Pro at Online Real Estate Networking
The real estate business is mainly built on relationships. The traditional way to get clients is through referrals. And there’s no secret to building a solid real estate network. It takes time and effort. But the Internet has brought us closer. It makes meeting new people easier than before. As a real estate agent, you should network like crazy with other real estate experts such as lenders, contractors, and other real estate agents. They can be a good source of real estate leads.
Therefore, pay attention to any online real estate event happening in your area. You can know more real estate investors through virtual networking events. Or you can organize your webinars and forums to attract potential customers.
Remember, there are many ways to meet people online, and you just need to be active and patient.
2. Harness the Power of Social Media
Real estate agents can take advantage of the various social media platforms and use them to attract new clients. You can use social media platforms like Facebook, Instagram, YouTube and LinkedIn to cost-effectively get the word out on the services you are offering. Apart from displaying the properties you have for sale, you can also post interesting and useful content. When people share your social media content, it can get you even more real estate clients.
Paid advertising like Facebook ads and YouTube ads are also a great way to target a specific group of people. However, it is very easy to lose money if you don’t do it properly. Whenever you run the ads, make sure you keep track of the progress and adjust if necessary.
3. Take Advantage of Other Websites and People
Fiance and blogging websites are also a good source of real estate leads for agents. There are many famous blogs and websites out there talking about investment tips. Why don’t you start by contacting the page owners to see if there’s any collaboration opportunity? For example, collaborate with finance influencers to run some marketing campaigns. As they already have loads of followers interested in investment and properties, it’s a sure-fire way to get more leads.