Top tips on becoming a successful long distance property investor
Attracted by the high net yields on USA buy to let investments? Concerned about being a long distance property owner? Keen to make a decent passive income from US buy to let investments? Worried something will go wrong and you will be stuck 5000 miles away from the leaky pipe or busted boiler?
PCG Invest CEO Darren Brown explains what you need to do to ensure that being a long distant landlord is no different from owning a property around the corner from where you live.
Why due diligence and working with experts is the key to success
Without doubt, my number one piece of advice is do your due diligence. Only work with companies that have a proven track-record in helping long distance investors. In the past twelve months, we have advised clients on the purchase of over $10m USA buy to let investments, with many repeat clients.
Don’t go for the cheapest properties on the market
“Buy cheap, buy twice” is a good motto to remember when buying US investment properties. Once again it comes down to knowing what you are doing and doing your due diligence.
Do not go direct to source
This may make sense on paper but a local real estate broker will not care if you are overseas, and will treat you as if you are local. They will expect you to know about all the legal and financial aspects of buying a property. To avoid costly errors let experts do the work for you, which leads neatly to my next point.
You don’t know what you don’t know
Find an international company that has experience and expertise and will take you through every single aspect of the purchase, from making sure you get a full inspection of the property, that tax and legal issues are sorted, that there are no debts and encumbrances.
Look for full transparency, efficiency and feedback from your Property ConsultancyAs Owning buy to let property in the USA can be extremely lucrative and can provide a good steady income stream (our clients properties have an average of 98% annual occupancy) but the purchasing process can be confusing and somewhat overwhelming.
We may share a common language but our laws and regulations are different. Only work with a company if you feel confident that they know what they are talking about, are completely upfront and are available to answer questions and concerns in a timely manner.
At PCG Invest we know exactly what needs to be done to ensure that any transaction goes smoothly. We have built our reputation and business on trust, transparency and efficiency, they are three of our core values and the reason why we get such great feedback and repeat business from clients. Great customer care and communication are two others.
Look for reviews at independent websites like Trust Pilot and ask for testimonials from clients.
As one client said: “PCG came in and shed light on every aspect of the purchase and gave me a great deal of advice, support and professional service. I’ll definitely be using PCG for my next purchase in the US”, Richard (see Richard’s Trust pilot review here).
From Purchaser to Owner – why after sales service is vital
Finally, as important as doing your due diligent before you buy make sure that you have professional advisors to help you once you have bought your property. If you go through a company like PCG Invest you will have a full management team working for you in the US to ensure that the property is maintained, rent is collected and that new tenants are found quickly. To back up this service, here in the UK, our Client Services Department will help ensure that the transition from purchaser to owner goes smoothly and are on hand with post-purchase advice.
Final advice for a successful and profitable overseas investment
If you let the experts help you and you use a reputable company with a proven track record you can start profiting from your investment and can quickly build a passive income from your properties.
For press inquiries please contact: Caroline Ratner email@example.com 02082090120
Notes to Editors
PCG Invest, is a UK based property consultancy which advises investors on buying residential and commercial property in the fast growing USA, Spanish and UK markets.
In the first six months of 2015, UK based PCG Invest has helped its international investors safely buy $4m worth of fully tenanted, refurbished buy-to-let properties with average costs of $45,000.00 per unit (£30,000) with net yields, taking into account ALL costs of between 7 to 18% and with tenant occupancy rates of 98.4%.
We have a well-deserved reputation for providing clients with safe and secure investment opportunities in both Europe and the USA buy to let market – see our Trust Pilot reviews: https://uk.trustpilot.com/review/www.propertyconsultantsgroup.com
PCG Invest is a member of the AIPP (Association of Independent Property Professionals) www.aipp.org