How to build a property portfolio when you can't travel

11 Aug 2016
Building a property portfolio is an exciting but oftentimes stressful part of the real estate agent’s job. Everyone wants stellar portfolios to set themselves apart from their competition, where they offer a wide range of incredible properties perfectly catered to their target markets’ tastes, preferences and budgets.

But actually achieving that is a different kettle of fish. The UK property market is extremely expensive and often limited and perhaps you are looking to find better value properties abroad that offer more. One of the biggest challenges with that, however, may be to find the time (and the budget) to travel in search of different properties for your portfolio. With that in mind, here are a couple of ways in which you can build a property portfolio without having to leave the comfort of your office:


Conduct thorough research

The obvious place to start when thinking about how to build a property portfolio abroad is to do your research. Go as in-depth as is possible: find out everything you possibly can about the properties in the countries that you are interested in, the laws involving foreigners buying property there, the countries themselves, the areas that you are interested in and all the attractions in and around those areas. You want to make sure you are an absolute expert on the countries and the areas you are looking at, so that you see the value in including the properties there in your portfolio, and so that you are able to help potential buyers to see that value too. There is a wealth of knowledge online in this digital age we live in – so make the most of it.


How to build a property portfolio when you can't travel


Contact a legal advisor

Once you’ve done your research, have a good enough idea of how things work, and you have picked one location that you are particularly interested in, you need to sit down with a lawyer who is versed in that particular country’s law, and make sure that you have a very deep understanding of the implications of buying (and renting) property abroad when you are looking to build a property portfolio with overseas properties. That way, you will not be caught off-guard by any unknown laws (or tax implications), and neither will your clients. Having a legal advisor on your side will also be helpful when you want to check that the title deeds for a property are all in order and in some cases, that they even exist.


Make use of technology

These days there is an abundance of incredible technology that will allow you to view properties and get a sense of an area without actually being there. Apart from the copious amount of information online, if you have someone on the ground with the right equipment, they can help you narrow down your choices of properties when you are looking to build a property portfolio internationally. See if you can’t find a way to get someone to give you a virtual tour of a property in real time, which would allow you to ask questions on the go and see specific elements of the house you’re particularly interested in. Another way to get a sense of the layout and a good understanding of the area is to see if you can find someone to let you see the property from a drone; if not, you can always use Google Maps. Thanks to technology these days, you don’t really need to view a property in person.


Use a trusted translator

There’s a high chances that you are looking to build your property portfolio in places where they don’t speak very good English. You really want to either work with people whose level of English is excellent, or make sure that you work closely with a trusted translator to help you on your journey to find the best properties abroad.


How to build a property portfolio when you can't travel


Work with reliable partners on the ground

One of the best ways to build a property portfolio when you are not able to travel is to find, and work with, a reliable company in the country that you are looking in. This will make your life infinitely easier thanks to the wealth of knowledge they have at their fingertips, and the fact that they are already familiar with the market, the rules and regulations, the ins and outs of foreigners buying in their country, any tax implications and development limitations. They can also help you understand where the prime areas are, what you should be cautious of, what the range of property prices are, and the types of properties on offer. Reliable partners on the ground are undoubtedly a valuable resource, especially if you are not able to take a trip to the country yourself.

If you are looking to expand your property portfolio to foreign lands then look no further than Spain. Spain has various offerings in the way of gorgeous areas and properties but the ultimate destination has to be Calpe, along the Costa Blanca. Get in touch with us today if you are looking for some of the best property in Calpe, or if we can help you with any other needs and queries you may have. We are your perfect partner on the ground in sunny Calpe!

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