August 2020
Beginner
240 pages
6h 13m
English
Content preview from Buying Real Estate Overseas For Cash Flow (And A Better Life)
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15Where You Can Buy Preconstruction to Flip or Rent
Buying to flip is a common real estate investment strategy in the United States that doesn't make sense in most of the rest of the world where leverage isn't easy and the costs of buying and selling are typically too great to make the math work.
The option is to buy preconstruction.
New construction is ongoing in most active real estate markets, meaning developers are constantly looking for help funding next projects. One strategy can be for them to presell units in planned buildings. The developer generates cash flow, and you, as the investor, benefit from a reduced price and staged payments.
The biggest advantage for you as the buyer is the ability to flip your unit, if the market sticks with you, before having to come up with the big final payment when construction is complete. This is both the greatest upside and a risk. If you're not able to sell before that final payment is due, you could lose everything. That's why we don't recommend a preconstruction investment if you don't have the cash to close. Have enough capital in reserve to cover all payments before entering into a preconstruction contract.
Not that you're going to close with your own capital if you can help it. For this kind of investment, focus on markets where financing is possible—either from a bank or the developer—so you have a backup for that final payment and save your own cash for other opportunities.
Top Buy-to-Flip Market #1: Panama
All Panama but ...
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