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

VIHow to Sell for Top Dollar

When Lief sold his three-flat building in Chicago, the market was overheated. He listed the property at an inflated price relative to going market rates, thinking he was allowing himself room for negotiation. He got three offers the first weekend, one a bit below the asking price, one a lot below the asking price, and one right on the money.

It was more a seller's market even than Lief had realized. The bidder who came in at full list price had been outbid recently on several other buildings. He wasn't going to lose this one. The amount he agreed to was more than 10% greater than the price the real estate agent had counseled Lief to list at. Fortunately, Lief isn't good at taking advice.

That Chicago experience was a home run for Lief, but you can't count on a frothy market when it comes time to resell a piece of real estate you've invested in overseas. In fact, rarely will the market climate be so strongly in your favor. How, then, can you give yourself the best chance of selling quickly and for maximum return?

Here are our top eight tips.

Resale Tip #1: Don't Buy Common

As the adage goes, in real estate, the money is made in the buy, not the sell. This is true everywhere in the world, and the best way to get top dollar at resale is to avoid common. Choose property with inherent value and premium qualities. This can be about the location, the neighborhood, the building, the development, or the individual asset.

Location is immutable, so be confident ...