It’s inevitable that sometimes, we’re bound to make a choice of keeping something or letting it go. Let’s say for example, a house. If it has all your childhood memories, it would be pretty difficult to sell it. However, a house left unoccupied is a liability. You will have to pay for maintenance and it’s not even earning. You have to set your mind and put your sentiments aside so you won’t lose the property for good. The best way to keep it running in good shape without selling it is to have it rented.

Running a rental property requires time and skill. Pretty much like a doctor, not everybody is knowledgeable enough to get himself around property management without anyone else’s help, or even if he can, doesn’t have the luxury of time to do so. This is where you will need a property manager to run the business for you.

Generally speaking, the advantage of having a property manager is that you’ll never have to worry about anything again. You own the property and you’ll get your money every month clean and accurate. Property managers know what to do, how to do them, and have them done in a timely manner. They know exactly what you need. They have full knowledge of the legalities of renting a property and they know where to get tenants. They will advertise, arouse interest, assess a tenant and get your place relentlessly occupied every month. They also know everything about inspections and when to do it, as well as collect rent from tenants when it’s due. I can only imagine how daunting it is for someone not specializing in property management to do of all of these.

Now if you think you can pull it off yourself, you’re welcome to try. I’m not saying you can’t, however, if you’re doing something else, this whole property management thing will dramatically slow you down. You will be compromising both endeavors as you try to be a super hero and do them at once. Whereas if you hire a property manager, he will ensure that your place is running perfectly round the clock. Property management can be quite painstaking for it rips off a lot of your time-I need to inspection this, I have to maintain that, I have to collect rent next week, occupant X has not paid his dues for three months now and I have to give him an ultimatum, I have to get rid of this tenants because he just lost his job which means he’s incapable of paying the rent etc. Doing this on top of something else, or doing this while you permanently reside in another area (geologically impractical) means you cannot run your property all out and is prone to suffering from months of vacancy.

Moreover, tenants will want to constantly see the person running their community in order for them to trust this person. It would be awkward to call or approach someone you’ve never met, or rarely meet for concerns and what not. A property manager will manage your property full-time, and will dwell in the community which will eventually make him visible to the neighborhood.

The author owns and operates a successful property management company in Tampa, FL. He also is a very successful real estate investor purchasing more than 150 rental properties over the last 12 years and “novacancynow”.

Smart investors know that overseas property investments can yield 25-100 % returns if properly managed. One intelligent measurement to lower risks is to lock in the the value of the investment property with the help of third parties so that if the value goes down you will be able to sell the property to them and not loose a penny.

An example would be buying a international property, if you pay 80K and the market value falls to 50K, having locked it’s value through a third party you can still sell it for the original 80K, now if on the other hand the property appraises at a value much higher than what it was originally purchased for, all you loose is a small lock in payment but made a substantial profit.

This is a different way of investing compared to other markets, as you may be able to deduct the advantage is that you are able to lock in “the risk” at a set level in exchange for a small payment which represents the maximum loss you are willing to take. This way overseas property investors have a high leverage when investing in foreign real estate.

The best way to invest in foreign real estate listings is to select an established or “currently in development” market, as well as making sure that the laws in such places are favorable to foreign investors. Good investment markets which fulfill these conditions are Dubai and Cyprus.

Cyprus property can be obtained after completing a “permission to purchase” application with the Council of Ministers. This is a step every foreign investor must complete, in order to purchase property in Cyprus which is not very restrictive. An investor can purchase up to four thousand square meters of land and an additional house or apartment.

Similarly, buying Dubai property offers many advantages due to the fact that real estate prices keep increasing because of the high demand these properties have. The demand increased radically back in 2002 when the crown Prince made an announcement which allowed foreign investors to purchase property. Due to local tax and business advantages this particular market blossomed and it’s now a great place to develop any business idea.

Real estate investments in foreign countries offer great ROI “if and only if” the investor verifies local laws pertaining to properties and business. Always remember to diversify your investments, even if you are investing in a relatively stable market.