How To Invest Successully Outside Your Area And Abroad
Play • 25 min

In this very special episode, Simon tells you why and how you should be investing in properties that aren’t in your area, and even properties in another country.

He’ll go into detail about his own experiences in doing this, why and when you should be investing away, how to use property deal sourcers to help you, and how to find effective sourcers who know what they’re doing. 

For those looking to expand their interests and broaden the scale of their property empire, this is the show for you!

 

KEY TAKEAWAYS

  • Investing in the areas you know is always the best step initially, You have local knowledge of quality, price and other factors that can help you determine the best deals to go for.

 

  • When thinking about buying outside of your area, you need to take a few things into consideration:
    • You need to make sure you have hold of a good deal in the first place
    • You need to think about the ongoing management and maintenance of the property

 

  • When you buy a property overseas, you do have to put your faith in agents and sourcers. They need to have your best interests at heart, and unfortunately that isn’t always the case.

 

  • If you’re based in the UK, then Simon strongly recommends investing here as there’s so much in the way of opportunity. The best and main reason for looking outside of the country is for a lifestyle reason. If, for instance, you are looking to retire to a certain acountry in the future, this would be a good reason to invest in that country now.

 

  • The best reasons to invest in the UK are:
    • It’s a hugely popular and attractive place to live
    • The tax breaks and health system appeal to people around the world
    • The values of property, and the rent on properties, tends to rise without too much risk
    • Anybody can invest here

 

  • The best way of investing remotely, whether in the Uk or elsewhere, is to find and connect with, good property deal sourcers that have your interests at heart.

 

  • The most effective ways of performing due diligence on your prospective deal sourcers are:
    • Ask them if they are fully compliant. If they don’t know what this means, walk away!
    • Make sure you understand how they work, specifically their terms and conditions
    • Make sure you never ever pay a fee to a sourcer upfront! The first payment to them should be a reservation fee upon them finding a deal that you like
    • Be sure that you know your ideal deal, and they are filling that criteria

 

  • The seller of the property that you want is likely motivated. Speed and certainty are hugely crucial factors to them. Make sure you can move quickly.

 

BEST MOMENTS

 

‘It really does make sense to start where you live or work’

‘I was encouraged about investing overseas’

’Some important words here are “good deal sourcer”'

‘You need to understand what you are getting for the money that you are paying to them’

’Never ever pay a sourcing agent an upfront fee!’

‘If you don’t know what makes a good deal, then you won’t recognise it when it arrives’

 

VALUABLE RESOURCES

 

·     Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi

·     property investor’s network (pin) - www.pinmeeting.co.uk

iphone:  http://bit.ly/pinAPP1

Android https://bit.ly/pinAPP2

 

www.pinmeeting.co.uk

 

ABOUT THE HOST

 

Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32.

Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk.    pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.

Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way.  How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.

Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.

Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.

 

CONTACT METHOD

Contact and follow Simon here:

Facebook: http://www.facebook.com/OfficialSimonZutshi 

LinkedIn: https://www.linkedin.com/in/simonzutshi/

YouTube: https://www.youtube.com/SimonZutshiOfficial

Twitter: https://twitter.com/simonzutshi

Instagram: https://www.instagram.com/simonzutshi/

 

See omnystudio.com/listener for privacy information.

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