money in real estate—no experience required€¦ · property managers nar has programs for...
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Money In Real EstateNo Experience Required
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This Gringo Real Estate Guy I Knew
www.liveandinvestoverseas.com ©2018 Live And Invest Overseas, Inc.
www.liveandinvestoverseas.com ©2018 Live And Invest Overseas, Inc.
Who Should Get Into The Real Estate Business
Overseas?
Agent Better for someone with real estate
experience, but if you’re up for learning
the local market while learning about
real estate in general, it can work for you
too.
Property Management Good for someone with attention to
detail and who likes administrative
tasks.
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Where does this make sense?
Agent Where you can be among the first
gringos on the ground. Some places
have more gringo agent per capita than
Florida.
Property Management Tourist destinations with a strong short-
term rental market.
What Is Required?
Do I Need A License?
Agents don’t need licenses in many
countries.
Property managers don’t need licenses.
Do I Need An Office?
Agents don’t need an office, but without
one you won’t be taken seriously.
Property managers should have an
office…even a home office as they
have to manage a lot of details.www.liveandinvestoverseas.com ©2018 Live And Invest Overseas, Inc.
What Is Required?
Do I Need Staff?
Agents wouldn’t need staff unless they
work up to running their own agency.
Property managers can handle a few
properties on their own, but even with a
few properties they’ll want to have
support services in place like plumbers
and electricians and maids. They
definitely need support staff as they add
more properties.
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What Is Required?
Do I Need To Know Anything About
Selling Real Estate?
Agents not necessarily. I’ve met real
estate agents in some countries who
had never worked as a real estate
agent anywhere but were working as
one in their new home.
Property managers they don’t need to
know something about real estate, but
should be people persons and know
something about marketing and
customer service.
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What Is Required?
How Much Money Do I Need To Get
Started?
Agents enough for business cards
and a web presence if you’re
working independently. Otherwise,
enough to fill your gas tank to take
people on viewings.
Property managers enough for your
own website and to fund marketing
fees through AirBnB and other sites
for the first high-season.
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What Is Required?
How Much Money Could I Make?
Agents in residential real estate,
maybe a few thousand a month if
you’re selling one property a month
on average. Some agents can make
more in certain markets, but much will
depend on how much time you put in.
Property managers typical
percentages charged to clients range
from 15% to 25% of the gross rental
income on a property for short-term
rentals.
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What Is Required?
What Would My Day Look Like?
Agents Wake up, check emails, head to
the beach for a surf session, eat lunch,
then show some clients properties…or
wake up, head to the office, respond to
emails all day with appointments and
showings throughout the day.
Property managers Wake up, respond to
inquiries from overnight, schedule repairs,
pay utility bills for properties under
management, check-in guests in the
afternoon, respond to inquiries from that
day.
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What Is Required?
How To Get Started?
Agents Show up and put up a shingle.
Property managers Most start by
renting their own properties and
expand from there.
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What Is Required?
Recommended Resources…
Agents National Association of Realtors (NAR) has a
Certified International Property Specialist course,
but more important would be gaining experience in
the local market you want to live in to sell real
estate.
Property managers NAR has programs for property
managers as well, but a book like Property
Managers for Dummies might make more sense.
For Both How to Buy Real Estate Overseas by
Kathleen Peddicord has discussions about
international markets and how they work that can
help educate both the potential agent, property
manager, and investor.
www.liveandinvestoverseas.com ©2018 Live And Invest Overseas, Inc.
www.liveandinvestoverseas.com ©2018 Live And Invest Overseas, Inc.
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Recommended Resources
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