If you're looking for great overseas real estate investments that are the equivalent to what you'd get in the United States, then turn back now, it just doesn't exist. You're not going to get great financing deals in a foreign country. People in the United States often scoff at the idea of paying for big ticket items, like a car, in cash, much less a house! However, paying for a home upfront and in cash is a widely accepted way of doing things when purchasing property overseas and this is one of the reasons why you will get horrible finance rates in these countries.
Key Takeaways:
Andrew's Editorial:
[1:40] How do you know when to invest vs. when to stay put?
[3:20] You have to be realistic with your investments.
[5:25] 90% financing just doesn't exist.
[8:20] Why do you want a first world investment if you're leaving the first world in the first place?
[12:20] Andrew knows someone who sold a car for $20,000 in the US and the bank looked at him as if he was a terrorist.
[13:40] The US has the most advance markets for Airbnb.
[14:30] Andrew would rather take a cash yield than have to finance a property.
[16:55] Remember, you could potentially be investing in a bubble market if you invest in US property.
[17:15] Andrew doesn't believe real estate always goes up in value and doesn't trust people who believe this.
[18:45] If you're looking for safety then being overseas is more important.
[19:35] You're not going to go overseas and get financing. It just doesn't work that way.
Interview:
[23:15] Why did Kevin become an entrepreneur?
[26:35] Why did Kevin start his business overseas?
[32:55] If you go anywhere else in the world and own a car, you're considered rich. Often times, you don't even need a car because everything is within walking distance or the public transport is fantastic.
[36:15] What kind of flags has Kevin planted around the world?
[37:15] Kevin talks about outsourcing some of his work to places like the Philippines.
[38:35] What has Kevin's experience been like in Singapore?
[40:30] Kevin doesn't believe he could achieve this level of success back in his home country.
[42:15] What kind of problems has Kevin faced while being overseas? The number one problem comes down to banking.
The Lightning Round:
[43:55] One business - a monthly subscription service for translations.
[44:45] One country - Berlin, Germany.
[45:20] One book – The One Thing by Gary Keller
[45:55] One tool – DIDlogic.
Listener Question:
[48:15] Andrew, what is the biggest thing you miss from leaving the United States?
[49:50] Free refills and tap water.
[52:10] Andrew also misses the level of great customer service.
[56:25] Even if cultures are different, people still want better service.
[58:25] Why would Andrew ever move back to the US?
Mentioned in This Episode:
