It's always tough to look for investing opportunities abroad, and mainly the ones related to real estate. We think it is difficult to manage a rental property close to our home, so imagine to deal with people from a different culture...
However, in certain countries we find good prices, good returns and possibly a bright future. Should we go ahead and buy real estate abroad? Our opinion on this matter is the following:
1. We need to buy a minimum of 3 properties in the same place, so that the effort is worth it.
2. We need to look for good management agents, and use trial and error until we are fully satisfied.
3. We need to set up controls to these agents, such as special locks that track the opening and closing of the doors, or a friend who passes by very often.
An additional advantage is to find countries with a favorable legislation for foreign landlords (Belgium tax free, for instance).