International Real Estate Investor, Dr. Andrew Taylor and Ozzie discuss investing in real estate internationally. Here's a concise overview of key considerations for Portugal, Utah, Mexico, and Panama: Portugal: Portugal's real estate market has been attracting international investors due to its favorable climate, quality of life, and affordable property. - Legal Procedures: Ensure thorough due diligence by verifying the property's legal status, checking for existing debts or liens, and confirming correct registration with the Land Registry. Engaging a qualified lawyer. - Additional Costs: Be mindful of extra expenses such as legal fees, property taxes, and maintenance costs. Utah, USA: Utah's real estate market has experienced substantial growth, driven by a strong economy, population influx, and a high quality of life. Key Considerations: - Market Trends: Utah has seen rapid property appreciation, which may affect affordability and investment returns. - Regulatory Environment: Know State and local regulations, including property taxes and zoning laws. Mexico: Mexico offers diverse real estate opportunities, from beachfront properties in Cancun to colonial homes in San Miguel de Allende. The country has relatively low cost of living and proximity to the U.S. Key Considerations: - Foreign Ownership Laws: In restricted zones e.g., within 50 km of the coast, foreigners must use a fideicomiso bank trust to hold property. Understanding this process is crucial for legal ownership. - Due Diligence: Conduct thorough research to verify property titles, ensure there are no existing liens, and confirm that the property complies with local regulations. Engaging a local attorney. Panama: Panama's real estate market is appealing due to its strategic location, use of the U.S. dollar, and favorable tax incentives for foreign investors. Areas like Panama City and Boquete are popular among expatriates. Key Considerations: - Legal Framework: While Panama allows 100% foreign ownership, it's essential to ensure that the property has a clear title and is not part of any indigenous land or protected area. - Investment Incentives: Panama offers various incentives, such as the Friendly Nations Visa and tax exemptions on certain properties, which can enhance the attractiveness of your investment. General Tips for International Real Estate Investment: - Engage Local Experts: Work with reputable local real estate agents and legal professionals to navigate the complexities of each market effectively. - Understand Total Costs: Beyond the purchase price, account for taxes, legal fees, maintenance, and potential renovation costs to assess the true investment required. - Stay Informed: Keep abreast of local market trends, economic conditions, and regulatory changes. GUEST: Dr. Andrew Taylor is a licensed Doctor of Traditional Chinese Medicine and Registered Acupuncturist practicing in Port Moody, British Columbia. He has been the owner of Advanced Healing Arts Inc. in Port Moody since 2010. At Advanced Healing Arts, Dr. Taylor focuses on treating acute and chronic musculoskeletal injuries, motor vehicle accident-related pain and whiplash, muscle and fascial restrictions, pelvic misalignment, scoliosis, low back, neck, shoulder (including frozen shoulder and tears), temporomandibular joint (TMJ) disorders, as well as elbow, wrist, knee (osteoarthritis, rheumatoid arthritis, cartilage and ligament damage), and ankle pain. HOST: About Ozzie Jurock: Author of best-selling books like Forget About Location, Location, Location and Real Estate Action. Featured in Donald Trump's real estate book and called a Real Estate Guru by Peter C. Newman in Titans. Past President of Royal LePage (Res.) and Chairman of NRS Block Bros, with experience managing real estate companies across Canada, the U.S., and Asia. Speaker Extraordinaire, delivering over 80 motivational speeches annually and hosting investor outlook conferences that attract 700 plus attendees. Ozzie is passionate about helping people achieve their best financial futures and creating environments for growth. When he's not talking real estate, you might find him skiing, boating, or wrestling with his golf game (spoiler: golf usually wins). Explore More: Website: https://ozbuzz.ca for market insights and resources. Books and Audiobooks: Real Estate in Canada and Real Estate Action 2.0. Real Estate Action Group: Join the community at https://REAG.ca. Stay Connected: Facebook: / ozzie.jurock Twitter: / 77ozzie Instagram: / ozjurock LinkedIn: / 77ozzie YouTube: / jurockvideo
