Investing in foreign markets can be a very effective way to diversify your investment portfolio.

An increasing number of Australian investors look beyond our shores for property investment and as local property prices continue to climb, there are plenty of bargains to be found in overseas markets.

Here is a RealRenta checklist for minimising your risks and avoiding potential traps when investing in foreign countries.

• Keep in mind that fluctuations in foreign currency may represent a risk
• Research the outlook for the economy and housing market in the country you are considering
• Consider the government regulations and tax implications that can affect the viability of your investment
• Consider engaging a local buyer’s agent who has strong relationships in the market you are considering
• Create an online money transfer service so that you can transfer funds in and out of the country
• Engage the services of a specialist FX Broker who can advise you on when you can get the best exchange rates for international transfers.
• Research the local tenancy laws and regulations for landlords in the market you are considering

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