August 23, 2018
Owning property overseas is a great asset class diversification strategy inside an IRA. But before racing out to buy an investment property in a foreign country, read on to know 3 of the most important critical issues to know up front.
#1 – Does the developer have a record of success?
If the answer is “yes” and the developer has a proven track record, investigate that record. Visit some of their other locations. Would that property meet your expectations? How much have they invested in amenities to create a sense of community? How busy is it? A great mantra for overseas property ownership is, “Buy what you see.”
On the other hand, if the answer is “no,” that does not mean you should instantly walk away. Just understand that you are agreeing to be a guinea pig as they experiment and suffer forward through trial and error. Be sure to price that into equation.