Quote:
Originally Posted by Golfingworld
1) Research the area you want to invest in. What is its potential.
2) What type of property do you want to purchase. What is your rental market.
3) Evaluate your financial costs to ensure its a viable investment.
Reindeer, thanks for your contribution, but couldn't this be best described as common sense? To give you an example, when a business is sold there is a process known as "due diligence" this means that accountants and lawyers go in and study the business for sale and look for loopholes in the proposition. What I am asking and so far Lisa has done the best job, is that instead of this well worn cliche being thrown around, someone actually gets down to the nitty gritty and that means this step, that step, this document and that one, where, how what it is called, where we can see examples etc etc. Quite honestly, if anyone went into overseas property without doing what you suggest, wouldn't they be a little insane...or are there really people out there that need telling that?
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Thanks for such a clear but simple definition of due diligence. Not to mention, I also gathered the impression from your post that anyone considering investing overseas had better equip themselves with an accountant and an attorney before making a move. Is that so?