Build Your Vetted Cash Buyer And Motivated Seller List
Chinese Buyers: Buying Up All Of The Real Estate & Notes
In some cities it’s tough to find cash flowing deals so it’s a wonder whether Chinese buyers are only buying good deals or if markets like Vancouver, Toronto and California are set for corrections or crashes. Chinese millionaires consider foreign real estate to be the most stable investment as a way to park their cash.
Some people are angry that there are so many foreign Chinese buyers
Some people can’t afford to buy in their hometowns and are upset, as mentioned in MacLean’s. Although, Chinese and foreign buyers aren’t buying in droves in all markets. I went to the local Real Estate Investors Association Meetup and on gentleman asked me whether there are foreign buyers looking to buy in Edmonton and I said no - at the time. He wanted to sell about 15 of his properties and was excited by the idea of welcoming buyers to the market.
It’s a global market filled with international and foreign buyers
There is an argument that without these foreign buyers that the markets could not sustain their prices and would collapse. In Toronto and Vancouver it’s said that buyers amount to as much as 33% of all buyers. It’s not sure whether that is completely confirmed.
With the Canadian dollar being low, they say Canadian house prices are on 30% discount. There are many neighbourhoods in the U.S. that are heavily discounted from the 2008 credit crisis.
If Canadians and Americans can’t buy those houses then everyone is relying on an international market which benefits from low trade barriers - ease of transferring cash overseas - to keep the markets operating as efficient as possible and without a radical drop in house prices in hot markets like Vancouver and Toronto.
Everyone wants to deal with wealthy Chinese buyers
Over the last few years real estate consultants and real estate agents have tried to source wealthy Chinese buyers to do a deal by introducing them to below market value deals across the United States.
There are barriers to dealing with the Chinese - namely language.
There are some groups on LinkedIn, which facilitate doing these types of deals:
What are your thoughts? Have you dealt with or are you a foreign Chinese real estate buyer?
Follow on Facebook, Twitter, YouTUBE, LinkedIn Group, LinkedIn Personal.
Birds of a Feather Bring Me Renturly