Buying Real Estate Overseas For Cash Flow (And A Better Life)

20Build an In-country Network of Reliable Contacts

Over the course of our multidecade overseas real estate investing careers, we have met hundreds if not thousands of real estate agents and developers, real estate attorneys, accountants, local investors, expat investors, and rental property managers. Most we never did business with, some we've remained in touch with, and a handful of them have become friends and even partners in different real estate investments. You're welcome to tap into our network to get yourself started. At our website (www.liveandinvestoverseas.com) you'll find, as the name suggests, resources for both living and investing overseas, including several free e-letters, one dedicated to buying and owning overseas property(www.overseaspropertyalert.com).

You'll also want to build your own personal network. The key contacts are a real estate agent, a real estate attorney, and a rental management company (or person). In fact, ideally, you want more than one of each in each market where you're focused or active. Also speak with other property owners in the markets where you're shopping, both expats and locals, who might give you very different perspectives on the market. Meet with at least one banker, both because you'll need to open a bank account should you buy in that country and also because a banker can have different market insights to share.

Taxi drivers are other good sources of economic and market context. They talk to people all day long, and they are ...