Hey, I was interested on how you manage properties that are some distance away. Take for example NZ, you buy a property in NZ and then what about inspections, how do you vet potential tenants etc.
I guess you could find a manager to do it all for you, but you would have to trust them and it would eat into your profits.
thanks
james
Thats what they do – use a property manager and HOPE for the best.
That’s why BEFORE jumping into o/s investing, one should really do their homework. PMs are not always very trustworthy; I have friends who got burnt by their local PMs, this situation would be magnified if you were on the other side of the globe.
Don’t want to run the risk; buy home-grown !!! LOL
Jo
You’d have to do homework on the local agents and I would want to go there and check them out as to what they offer for their commission. Most agents seem to have a property management brochure these days telling all about their (hopefully) management skills.
We have 5 interstate properties, all managed by the one agent who we trust. Two were previously with other agents who were not satisfactory. We visit the area yearly, phone with any enquiries, get a newsletter, are kept up to date when a lease is to expire and if the tenant is staying on, always get a call if anything needs doing and the odd letter that a tenant is behind in rent and has been notified of their responsibility. It’s a matter of feeling comfortable with long distance properties.
Anna
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