Saturday, December 05, 2009

Tips for Planning a Successful Overseas Inspection Trip

After spending two or three weeks surfing the net, most property investors have chosen their market, and selected a few dozen properties that need to be inspected. An agent may be available to plan a viewing excursion, but don’t count on it.
Before making travel arrangements, make a list of things you need and want to see in the property. Create a ceiling, and a basement price. Do not deviate from these prices, no matter what ‘deals’ the agent may have found after hearing of your travel plans.
Pick a target location, and stick to it. An agent can waste countless hours driving ‘just over here’, taking the investor hours out of their way, to look at an unsuitable property. Time is at a premium. Do not plan to visit restaurants. They may be non existent, or unable to comprehend the meaning of a rush, or the importance of your valuable time.
Send the list to the agent with the properties you are interested in viewing. This will give them a general idea of your wants and needs. Make it clear that you will not view properties that do not meet the criteria.
Email or telephone the agent directly. Do not work through an office. Try to communicate several times. Look for good communication skills, helpful advice, and a friendly manner. Try to find out whether they are familiar with the properties. Ask them how long it takes them to get to the property, how far out of the down town, or tourist, core the property is. Look for any hint that the agent is not serious about the sale, or feels they can sell you anything when you finally arrive.
Take a print copy of desirable properties. Take a video camera, notebook, and itinerary. It is very easy to confuse properties after three or four days of viewing. There will also be properties you’d like to look at again, and compare. It is easy to download video to a computer, and keep unlimited files in your email inbox.
One good way to test the agent’s knowledge of the property is to ask them for pictures taken from a digital camera, or a cell phone. Paying for a cell phone conversation from a foreign country may be expensive. But that ten minute call, and viewing of the property via your cell phone, or the internet, may prevent a disaster.
source -

No comments: