WEBVTT
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[SPEAKER_00]: Investing internationally is not just a dream, it's a real possibility for women real estate investors looking to diversify while still mitigating risk.
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[SPEAKER_00]: In today's episode, we have international broker Marquita Smith.
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[SPEAKER_00]: She's going to share how you can invest abroad.
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[SPEAKER_00]: Let's get to work.
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[SPEAKER_00]: International investment is seems like a dream, but we're going to make in this episode a possibility for all of you that are listening.
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[SPEAKER_00]: So, Makita, what is the one stereotype or one myth?
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[SPEAKER_00]: You will like all the women real estate investors that are listening drop today about investing internationally.
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[SPEAKER_01]: So normally I would say is the thing when people say that it's a scam.
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[SPEAKER_01]: So because people are already talking about that every single day, I want to shift focus to talk about, I want to let people know around the world that it's not just for millionaires, multi-millionaires, and billionaires anymore, it's actually for people who have the education and the knowledge.
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[SPEAKER_01]: So it doesn't take a lot of money.
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[SPEAKER_01]: like a higher bracket in order to invest in real estate.
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[SPEAKER_01]: You can buy something as little as land for like $5,000, $10,000 versus coming in, trying to buy something that is a maybe a three-bedger on penthouse off the beach, but at least start somewhere and get your foot in the door and international real estate space instead of thinking that it's not attainable for yourself and for your family.
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[SPEAKER_00]: Absolutely.
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[SPEAKER_00]: Camels are everywhere, right?
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[SPEAKER_00]: They might be on your backyard on their neighborhood.
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[SPEAKER_00]: I agree with you.
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[SPEAKER_00]: It's all about getting the knowledge, vetting people and making sure you're doing all your due diligence upfront, right?
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[SPEAKER_00]: So let's let's break that down, right?
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[SPEAKER_00]: Number one, why would people consider should consider international investment nowadays?
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[SPEAKER_01]: And Dressa, I would say, for me being in real estate for the last 21 years, the last three years international estate, we have helped about 24 families and best in international real estate.
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[SPEAKER_01]: And so for me, I have some prices in let's take a market like Pontucana.
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[SPEAKER_01]: When I started in Pontucana about three years ago, help a people to invest,
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[SPEAKER_01]: The studio units were about $60,000.
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[SPEAKER_01]: Now today, you cannot find a studio unit for about $60,000 in a political kind of space because they're about 115,000 and more.
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[SPEAKER_01]: And so you don't want to miss the market or to miss the boat.
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[SPEAKER_01]: And even looking at some of us the tickets out there, they're letting us know that there is $326 trillion in international real estate.
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[SPEAKER_01]: And you have your market share as well, whether it's buying a condominium, if it's buying a town home, or even like I said earlier, just buying a piece of land.
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[SPEAKER_00]: Lots of questions inside my head and I bet all of you listening are like, wait a minute and I cannot find anything around my market and I keep looking, looking and I need to deploy my my funds.
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[SPEAKER_00]: So we are the markets right now that people could consider that are not extremely hot and we're already past.
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[SPEAKER_00]: We already missed that boat.
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[SPEAKER_00]: What are the upcoming markets that we should pay attention to?
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[SPEAKER_01]: I would say so up kind of market so we sell in the Dominican Republic, we sell in Dubai, we sell in Nigeria, we have Ghana, Ghana right now.
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[SPEAKER_01]: I would say that it's like in between because if there's still markets and pockets in the country where you can buy,
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[SPEAKER_01]: at a discounted price like for studio units that are like 45,000.
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[SPEAKER_01]: Of course, if you're like five minutes when the airport is once a call, maybe three times that amount of money, but there's still pockets in that country in which you can buy.
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[SPEAKER_01]: And in June, I'm gonna talk about any emerging market.
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[SPEAKER_01]: So in June, we actually took about 30 investors to Zanzibar.
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[SPEAKER_01]: Zanzibar right now,
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[SPEAKER_01]: Even though there are, you know, little pockets of areas that tourism is very high, there's still pockets in that area, a majority of beach front properties that can be bought for a little like a hundred and twenty thousand, a hundred thousand dollars, you can still get in.
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[SPEAKER_01]: And then if you have people that have like disposable cash that, you know, maybe pulling something
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[SPEAKER_01]: You can get a whopping 30%, 40% discount on a property that may be 100% and something thousand, but then it turns into like an $80,000 studio unit off the beach.
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[SPEAKER_00]: So let's talk a little bit more about the types of assets that we're talking about here.
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[SPEAKER_00]: Let's break that down for the listener.
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[SPEAKER_00]: Are we talking condo or talking small multi families, single family houses?
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[SPEAKER_00]: And what is the condition that we're looking?
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[SPEAKER_01]: So for me, I mostly sell in the markets where we are selling off-plan properties.
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[SPEAKER_01]: So off-plan meaning that they are new construction properties because I live in the United States, and I am doing a real estate from
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[SPEAKER_01]: I always like to say my kitchen table.
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[SPEAKER_01]: When it comes to people who want to buy real sale or something that may be further out than like the capital in some of these areas, I refer to agents that are on the ground.
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[SPEAKER_01]: So for me, I'm selling off-plant.
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[SPEAKER_01]: Typically off-plant is going to be where they buy land now.
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[SPEAKER_01]: They may be a later, or they are buying in a new development where mostly their condominiums, they could be villas,
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[SPEAKER_01]: I have not yet sold any single-family homes, those typically are higher, but I haven't had anyone that has been interested because of most of our people who are buying investors, they're from the United States.
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[SPEAKER_01]: And so, from the United States, they're not looking to buy a single-family home.
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[SPEAKER_01]: They're looking to buy something that can be short-term rental,
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[SPEAKER_01]: something that they can take their families to when they want to go on vacation or want to travel to the country, but they're looking for something as well that sometimes they just want to flip it.
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[SPEAKER_01]: You know, what brought this?
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[SPEAKER_01]: Absolutely.
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[SPEAKER_00]: Yeah, and that was going to be my follow-up question.
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[SPEAKER_00]: What type of strategies that they're using?
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[SPEAKER_00]: I've seen a lot of women here saying,
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[SPEAKER_00]: Well, I can have a property in rented out in a place, but I am not using necessarily that property, right?
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[SPEAKER_00]: So, most investors are also looking to, well, mine as well, investing in an area where I would like to go.
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[SPEAKER_00]: I would like to spend a couple of days there and you kind of like enjoy that piece of property.
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[SPEAKER_00]: So, when comes down to short-term rentals,
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[SPEAKER_00]: I know that United States, the pending on where you go is very strict.
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[SPEAKER_00]: Others is like a wild west.
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[SPEAKER_00]: How is internationally when it comes down to the legal piece of short-term rental?
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[SPEAKER_01]: So, and dress, I have a few different ways of looking at it.
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[SPEAKER_01]: So, let's take, go back to Ponticana for one example.
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[SPEAKER_01]: When it comes to Ponticana, that is a hot spot.
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[SPEAKER_01]: People vacation there.
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[SPEAKER_01]: I think last year, in 2024, they saw 10 million tourists.
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[SPEAKER_01]: tourist come through the country.
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[SPEAKER_01]: They expect more for 2025.
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[SPEAKER_01]: But when I'm talking, it's speaking to the investors who are investing at high spots like that.
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[SPEAKER_01]: It is for them to go and take their family like for example.
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[SPEAKER_01]: I have one investor from New York who purchased a two-bedroom condominium.
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[SPEAKER_01]: um, and for that, she spent about $154,000 for her.
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[SPEAKER_01]: She's looking at rent and it's short-term.
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[SPEAKER_01]: There is basically no restrictions in these countries like the Medicare and Public, like Ghana, like Dubai, but I always tell people that is where it is now.
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[SPEAKER_01]: Let's take another country, like Greece, one example, I'm just switching over to Europe because we travel to so many areas,
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[SPEAKER_01]: And so, going into Greece to give you an example, we went and we looked at properties that were near the water, inland a little bit.
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[SPEAKER_01]: But...
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[SPEAKER_01]: The difference was that Greece has a golden visa program.
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[SPEAKER_01]: So if you were to invest in the country as an investor, you would be able to apply for a golden visa and obtain residency in eventually a citizenship of that country and that's the major play.
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[SPEAKER_01]: But for some of these countries, if people are investing at a rapid number and now it begins to affect locals finding housing,
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[SPEAKER_01]: And so their threshold for investing to get a go-to visa at one time was $300,000.
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[SPEAKER_01]: When we went last year in April, they raised it to $500,000.
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[SPEAKER_01]: And then, three months later, they increased it to $800,000.
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[SPEAKER_01]: And that's meant to slow down the investments.
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[SPEAKER_01]: So even though there were no restrictions on one short-term rental, there was restrictions on how many people can come.
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[SPEAKER_01]: at the rate that they would come in, because people were like, I don't want citizenship in Greece because Greece is also in high spot as well with the multiple islands that you can hop to just take in a ferry.
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[SPEAKER_01]: And so the government itself had to look at that and say, although we want investors in the country, we don't have restrictions, we need to increase the price so we can slow down the influx.
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[SPEAKER_01]: So that it doesn't affect the local people.
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[SPEAKER_00]: It seems very similar to what happened in Portugal.
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[SPEAKER_00]: And I don't know if they still even have that open, right?
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[SPEAKER_00]: Because you're in Europe, the population is not growing as fast, but that is the key.
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[SPEAKER_00]: I have a quick follow-up questioning in regards to the buying a project that is on paper, right?
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[SPEAKER_00]: That is building.
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[SPEAKER_00]: I think one of the biggest concerns that people have is like,
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[SPEAKER_00]: I come from Brazil and there were a lot of projects there that people bought while was still on the plant and it never came to fruition and the contract is a peer.
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[SPEAKER_00]: So I want to double check with you.
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[SPEAKER_00]: What is your relationship with the builders and how do you vet them?
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[SPEAKER_01]: I would say very blessed because starting off in a market like the Dominican Republic, I joined a local brand there, which was Kelli Williams, Ponticana, in that area.
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[SPEAKER_01]: So that developer, but that owner of Kelli Williams, she was actually also a developer, and then she had relationships with other developers that was on the ground, which made it easy for me to tie into a brokerage that already had,
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[SPEAKER_01]: a representation on the island and she already had a network and so I tied into that network.
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[SPEAKER_01]: and then from there I'm off to Clyde and then I got what a brokerage that was in Ghana and from there she began to bet and had relationships with developers on the ground until I brushed off and started working solo with my own network and so now with that process look like is making sure that I work with a reputable developer on the ground that may have completed other projects in the past and has finished work.
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[SPEAKER_01]: So typically that's
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[SPEAKER_01]: the development in which I'm going with but I won't say that that's always the case because sometimes some projects come that can be near and dear to your heart and so like we do have a developer and a project in Donna and this developer is still first project but what made during me to that person that developer in Donna was the fact that I was introduced by someone who
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[SPEAKER_01]: he was being mentored by another development company and developer in that country who had already completed seven projects and had been, you know, development for 20 years.
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[SPEAKER_01]: And so his engineer was overseeing that engineer project, which made it easy for me to say yes.
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[SPEAKER_01]: And so, I think for the most part, it's just vetting them.
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[SPEAKER_01]: You can also go to my government website and take a look to see what developers that they recommend.
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[SPEAKER_01]: If anybody has been reported of doing any fraud with my activity, and just case, I'm point, address, and Dubai, there was a developer, a developer there that was very popular.
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[SPEAKER_01]: But the CEO ran off with like 400 million of investors money, and so what Dubai, what their government has put into place now, especially with new construction, is that the escrow now goes to the government.
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[SPEAKER_01]: They charge a 4% for investors who are investing in the country, and then
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[SPEAKER_01]: they are overseeing that whole project or transaction so that they don't have a repeat of people coming into their country.
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[SPEAKER_01]: Because you will find that, and I have to learn this going out into these international real estate streets, that there's a money laundering that's going on at the same time.
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[SPEAKER_01]: And so you have to be very careful in this five government are now starting to put rules in place because there is laundering bond on.
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[SPEAKER_00]: got him.
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[SPEAKER_00]: So when he comes down to Ghana, Pontacana, Dominican Republic, Dubai, what is the entry point that we are talking about when we we're looking to an initial investment?
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[SPEAKER_00]: What is the the range that one will have to have in order to even play that game?
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[SPEAKER_01]: So I would say it just depends because you know that when it comes to all plant properties and invest the international, you don't always have to have the cash upfront.
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[SPEAKER_01]: So we have people who invest and they get on what is a two year or up to a seven year in Dubai payment plan to where they put down maybe 20% upfront.
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[SPEAKER_01]: or 30%, 40%, the more you put in, the more a greater your discount on the actual property would be.
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[SPEAKER_01]: And so for an example, we have one developer in Pentecano.
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[SPEAKER_01]: There are one bedrooms, 115,000.
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[SPEAKER_01]: They're not furnished, however, it's only $2,000 to put down a deposit for that particular development.
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[SPEAKER_01]: And then you get to pay over time.
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[SPEAKER_01]: And then you get to break it up because a lot of these developers that we have been fortunate to work with is that their payment plans are very flexible.
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[SPEAKER_01]: So we have an investor that puts down 20%.
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[SPEAKER_01]: Like after they put down that big chunk, most of the developers have been very flexible to say, hey, if you need a break that's fine, you can start paying 60 days out from now with your monthly
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[SPEAKER_01]: but they can get in for as little as $2,000 to the positive.
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[SPEAKER_00]: So let's break down the financing piece a little bit because over here in the U.S. you go to a traditional institution, you get an appraisal, and then you go on the LTV, depending on what it is.
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[SPEAKER_00]: How is internationally, the U.S. investors use international banks?
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[SPEAKER_00]: How do they evaluate and make sure that the project has the value that is being sold?
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[SPEAKER_00]: Is it at a praisle process?
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[SPEAKER_00]: Because in Brazil, it's not, and is it completely different?
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[SPEAKER_00]: bulls my mind that they they don't it's more towards buy-and-seller agreement per se if they're not using a bank but regardless how is it international markets that we're we're talking here.
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[SPEAKER_01]: For all of my investors who have purchased so far, they have not used financing.
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[SPEAKER_01]: Everyone is on a cash payment plan.
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[SPEAKER_01]: Because in the beginning, when we tell them, hey, you can get financing for a foreigner, but this is what the interest rate looks like.
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[SPEAKER_01]: And across all of the countries, except for the UAE,
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[SPEAKER_01]: The interest rates have varied from like seven up to 15% as a corner because you are a corner investing in another country where you may not have residents and so that is considered to be like high risk.
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[SPEAKER_01]: So a lot of times when I show them the difference between them being on a cash payment
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[SPEAKER_01]: and have an interest rate between seven and 15%.
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[SPEAKER_01]: They have always opted to go for the cash payment plan because they don't want to get tied into having to pay back all of the interest because the cash payment plan you're not actually paying interest.
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[SPEAKER_01]: The thing with me working in,
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[SPEAKER_01]: seven different markers, three different continents is that a lot of these countries don't have it in my last like you have here in the United States.
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[SPEAKER_01]: So as an agent, I'm so used to going and pulling up pumps in one system, but you can't do that international.
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[SPEAKER_01]: So what we have acts of developers and what the developers are provided is like okay.
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[SPEAKER_01]: what our other off plans, or maybe something by project that has recently been completed, sometimes they will compare to maybe Greece still in the area, but that is homework that the developer has to provide us, and we have to also go out and find that information ourselves, because sometimes you don't want to take just the developers, you know, work for it,
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[SPEAKER_01]: Yeah, it just all depends on reputation for me as well.
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[SPEAKER_01]: So some developers, I do trust the data that they are providing.
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[SPEAKER_01]: But it's going out and seeing those things.
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[SPEAKER_01]: So you can look on Airbnb to see what studio units, one bedroom, two bedrooms, our renting floor.
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[SPEAKER_01]: There are some pockets of different MLSs that are popping up in different countries, including an app.
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[SPEAKER_01]: Africa and they're like taking like maybe three or five different nations in one the continent of Africa and rapidly into one system so that you can't find some properties but it is no law to where all the ages have to put their properties into you know the system and so basically you're on the internet just searching for this information.
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[SPEAKER_00]: my goodness.
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[SPEAKER_00]: My sister was actually buying a house in Brazil and I say, okay, sent me the link and she sent me an Instagram link and I'm like, what is this?
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[SPEAKER_00]: Like, she's like, well, that's the house.
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[SPEAKER_00]: And I'm like,
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[SPEAKER_00]: Where are the comms who's like, well, here are the comms.
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[SPEAKER_00]: It is Instagram.
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[SPEAKER_00]: And I'm like, what are you talking about?
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[SPEAKER_00]: So I call a friend of mine who is a real term like, hey, do you have your quote unquote, your MLS?
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[SPEAKER_00]: She's like, no, every broker have their own.
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[SPEAKER_00]: And I'm like,
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[SPEAKER_00]: how the hell do you communicate among agencies?
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[SPEAKER_00]: Over here, it doesn't really matter.
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[SPEAKER_00]: We are under one system so we can access everything.
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[SPEAKER_00]: I don't want to know what color Williams has and
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[SPEAKER_00]: And they're like, well, not here.
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[SPEAKER_00]: I'm like, it's so much more difficult, but at the same time, you have to do your due diligence.
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[SPEAKER_00]: When it comes down to the cash payment, I just want to clarify one thing.
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[SPEAKER_00]: So who holds that?
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[SPEAKER_00]: Is it like a local bank?
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[SPEAKER_00]: Is it askro?
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[SPEAKER_00]: Or is it the developer that is responsible for that?
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[SPEAKER_01]: for the most part is the developer who is holding the cash.
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[SPEAKER_01]: There are purchase agreements, and the loudest thing to me, and Dressa, is from me being from the United States, I always recommended my clients here use attorneys.
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[SPEAKER_01]: And so I recommend the same thing for those that I've purchased in international.
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[SPEAKER_01]: But I have 24 investors who have invested.
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[SPEAKER_01]: I want to say only maybe four have taken advantage of like utilizing attorneys to make sure that those things are in place.
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[SPEAKER_01]: And so that also helps protect but the escrow that the developer has is broken down into the purchase agreement and to the sales contract.
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[SPEAKER_01]: But if something happens, like who's going to enforce, and maybe they will hire you in a turning at that time.
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[SPEAKER_01]: But for now, the attorney fees, they get paid like the real turns here in the United States.
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[SPEAKER_01]: They get paid by 1% to three, four, five.
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[SPEAKER_01]: It's no flat fee.
21:25.145 --> 21:30.533
[SPEAKER_01]: Like if you're in the United States or so, some people are like, I'm not gonna spend $2500.
21:30.513 --> 21:44.481
[SPEAKER_01]: and hiring an attorney, you know, a broad, even though you should make that investment because, you know, who wants to pay for what later, just in case something happens, but people have been opting, you know, even out of that as well.
21:44.781 --> 21:51.434
[SPEAKER_01]: But it's typically the developer who is holding the money and in a few cases, there is a escrow.
21:51.755 --> 21:52.757
[SPEAKER_01]: But...
21:52.737 --> 22:03.538
[SPEAKER_01]: You can request if you, you know, get into a contract or deal with an offline developer, you can request the habit to put in an escrow.
22:03.779 --> 22:11.494
[SPEAKER_01]: Now, whether an developer will agree because typically they're using that money to actually build a project as they go along this way.
22:12.095 --> 22:12.636
[SPEAKER_00]: Makes sense.
22:12.987 --> 22:19.876
[SPEAKER_00]: Let's question for you in regards to tax and I know you're not a CPA in either a tax advisor.
22:20.237 --> 22:32.734
[SPEAKER_00]: But how does that play into taxes here in the in the U.S. Can we claim anything from or what is the what is the implication?
22:32.714 --> 22:43.273
[SPEAKER_01]: So, I'm not an accountant, but because I've been selling international for the last three years, we have profited, you know, a compassist and some business.
22:43.293 --> 22:51.448
[SPEAKER_01]: So, I have an accountant to come in to talk about international taxes and what the implications or responsibility would be for.
22:51.428 --> 23:15.259
[SPEAKER_01]: anybody who is investing so this is how she has broken it down is that no matter where you are in the world as a US citizen the taxes are going to find you in any country so it doesn't matter as long as you are still a citizen however there is so much money that you can make internationally and don't have to pay taxes on it.
23:15.239 --> 23:31.996
[SPEAKER_01]: I don't know regarding this last bill that the government has put out, but previous to that, what she told us is that you can make up to like $100,000 outside of the United States, what out having to pay, like additional taxes on it.
23:32.417 --> 23:34.579
[SPEAKER_01]: Anything over, we would have to pay taxes.
23:34.839 --> 23:40.605
[SPEAKER_01]: Now, please do go and verify that, you know, with your accountant.
23:41.092 --> 23:43.995
[SPEAKER_01]: Some of our people have opened up businesses and other countries.
23:44.396 --> 23:47.139
[SPEAKER_01]: Some of them have also opened up check in accounts.
23:47.159 --> 23:51.503
[SPEAKER_01]: And so we asked, like, okay, how much can we have in a check in account?
23:51.523 --> 24:02.595
[SPEAKER_01]: And so it was up to, I believe, $10,000 for outside of the United States for you having like the offshore bank account, anything over that.
24:02.675 --> 24:06.099
[SPEAKER_01]: You definitely need to report back to the United States.
24:06.199 --> 24:06.880
[SPEAKER_01]: And so,
24:06.860 --> 24:12.186
[SPEAKER_01]: Talk to your accountant about what that looks like, but have an investment overseas as well.
24:12.587 --> 24:16.871
[SPEAKER_01]: It's still good for you to be able to write off on your taxes.
24:17.712 --> 24:18.093
[SPEAKER_00]: Awesome.
24:18.774 --> 24:24.680
[SPEAKER_00]: McKita, thank you so much for bringing such lots of great information about investing internationally.
24:25.061 --> 24:28.204
[SPEAKER_00]: Where the women listening can find more about you?
24:28.865 --> 24:35.753
[SPEAKER_01]: Bake at find me on all social media platforms.
24:35.733 --> 24:41.400
[SPEAKER_01]: where you will see a lot of educational information out the live with investors all the time.
24:41.761 --> 24:52.354
[SPEAKER_01]: I have went live with my developers and I'm just always making sure that we educate, educate, educate because I want more people to get into this international real estate space.
24:52.394 --> 24:55.058
[SPEAKER_01]: So, McKita Smith Global is everywhere.
24:55.078 --> 24:55.478
[SPEAKER_00]: Awesome.
24:55.498 --> 24:59.063
[SPEAKER_00]: Thank you so much for being here with us, McKita.
24:59.804 --> 25:00.605
[SPEAKER_01]: Thank you so much.
25:00.705 --> 25:05.571
[SPEAKER_01]: I appreciate you, Andresa.
00:00.031 --> 00:10.950
[SPEAKER_00]: Investing internationally is not just a dream, it's a real possibility for women real estate investors looking to diversify while still mitigating risk.
00:11.291 --> 00:17.242
[SPEAKER_00]: In today's episode, we have international broker Marquita Smith.
00:17.402 --> 00:21.509
[SPEAKER_00]: She's going to share how you can invest abroad.
00:22.150 --> 00:23.052
[SPEAKER_00]: Let's get to work.
00:24.044 --> 00:33.154
[SPEAKER_00]: International investment is seems like a dream, but we're going to make in this episode a possibility for all of you that are listening.
00:33.595 --> 00:37.920
[SPEAKER_00]: So, Makita, what is the one stereotype or one myth?
00:38.560 --> 00:47.250
[SPEAKER_00]: You will like all the women real estate investors that are listening drop today about investing internationally.
00:47.635 --> 00:52.242
[SPEAKER_01]: So normally I would say is the thing when people say that it's a scam.
00:52.483 --> 01:10.691
[SPEAKER_01]: So because people are already talking about that every single day, I want to shift focus to talk about, I want to let people know around the world that it's not just for millionaires, multi-millionaires, and billionaires anymore, it's actually for people who have the education and the knowledge.
01:11.051 --> 01:15.398
[SPEAKER_01]: So it doesn't take a lot of money.
01:15.378 --> 01:19.204
[SPEAKER_01]: like a higher bracket in order to invest in real estate.
01:19.464 --> 01:41.419
[SPEAKER_01]: You can buy something as little as land for like $5,000, $10,000 versus coming in, trying to buy something that is a maybe a three-bedger on penthouse off the beach, but at least start somewhere and get your foot in the door and international real estate space instead of thinking that it's not attainable for yourself and for your family.
01:41.399 --> 01:42.120
[SPEAKER_00]: Absolutely.
01:42.180 --> 01:43.481
[SPEAKER_00]: Camels are everywhere, right?
01:44.602 --> 01:47.064
[SPEAKER_00]: They might be on your backyard on their neighborhood.
01:47.745 --> 01:48.586
[SPEAKER_00]: I agree with you.
01:48.646 --> 01:57.294
[SPEAKER_00]: It's all about getting the knowledge, vetting people and making sure you're doing all your due diligence upfront, right?
01:58.455 --> 02:00.597
[SPEAKER_00]: So let's let's break that down, right?
02:01.097 --> 02:09.145
[SPEAKER_00]: Number one, why would people consider should consider international investment nowadays?
02:09.361 --> 02:23.221
[SPEAKER_01]: And Dressa, I would say, for me being in real estate for the last 21 years, the last three years international estate, we have helped about 24 families and best in international real estate.
02:23.241 --> 02:27.768
[SPEAKER_01]: And so for me, I have some prices in let's take a market like Pontucana.
02:28.089 --> 02:31.774
[SPEAKER_01]: When I started in Pontucana about three years ago, help a people to invest,
02:32.058 --> 02:34.143
[SPEAKER_01]: The studio units were about $60,000.
02:34.503 --> 02:45.026
[SPEAKER_01]: Now today, you cannot find a studio unit for about $60,000 in a political kind of space because they're about 115,000 and more.
02:45.407 --> 02:49.155
[SPEAKER_01]: And so you don't want to miss the market or to miss the boat.
02:49.135 --> 02:58.734
[SPEAKER_01]: And even looking at some of us the tickets out there, they're letting us know that there is $326 trillion in international real estate.
02:59.094 --> 03:09.675
[SPEAKER_01]: And you have your market share as well, whether it's buying a condominium, if it's buying a town home, or even like I said earlier, just buying a piece of land.
03:09.773 --> 03:22.431
[SPEAKER_00]: Lots of questions inside my head and I bet all of you listening are like, wait a minute and I cannot find anything around my market and I keep looking, looking and I need to deploy my my funds.
03:22.632 --> 03:31.444
[SPEAKER_00]: So we are the markets right now that people could consider that are not extremely hot and we're already past.
03:31.925 --> 03:33.347
[SPEAKER_00]: We already missed that boat.
03:33.647 --> 03:37.553
[SPEAKER_00]: What are the upcoming markets that we should pay attention to?
03:37.634 --> 03:46.450
[SPEAKER_01]: I would say so up kind of market so we sell in the Dominican Republic, we sell in Dubai, we sell in Nigeria, we have Ghana, Ghana right now.
03:46.470 --> 03:54.985
[SPEAKER_01]: I would say that it's like in between because if there's still markets and pockets in the country where you can buy,
03:55.235 --> 03:59.500
[SPEAKER_01]: at a discounted price like for studio units that are like 45,000.
03:59.680 --> 04:09.692
[SPEAKER_01]: Of course, if you're like five minutes when the airport is once a call, maybe three times that amount of money, but there's still pockets in that country in which you can buy.
04:10.092 --> 04:12.735
[SPEAKER_01]: And in June, I'm gonna talk about any emerging market.
04:13.035 --> 04:16.920
[SPEAKER_01]: So in June, we actually took about 30 investors to Zanzibar.
04:17.561 --> 04:19.723
[SPEAKER_01]: Zanzibar right now,
04:19.703 --> 04:39.205
[SPEAKER_01]: Even though there are, you know, little pockets of areas that tourism is very high, there's still pockets in that area, a majority of beach front properties that can be bought for a little like a hundred and twenty thousand, a hundred thousand dollars, you can still get in.
04:39.525 --> 04:49.677
[SPEAKER_01]: And then if you have people that have like disposable cash that, you know, maybe pulling something
04:49.657 --> 05:04.223
[SPEAKER_01]: You can get a whopping 30%, 40% discount on a property that may be 100% and something thousand, but then it turns into like an $80,000 studio unit off the beach.
05:04.507 --> 05:09.097
[SPEAKER_00]: So let's talk a little bit more about the types of assets that we're talking about here.
05:09.177 --> 05:11.722
[SPEAKER_00]: Let's break that down for the listener.
05:12.083 --> 05:17.875
[SPEAKER_00]: Are we talking condo or talking small multi families, single family houses?
05:18.015 --> 05:20.440
[SPEAKER_00]: And what is the condition that we're looking?
05:20.420 --> 05:27.157
[SPEAKER_01]: So for me, I mostly sell in the markets where we are selling off-plan properties.
05:27.177 --> 05:35.458
[SPEAKER_01]: So off-plan meaning that they are new construction properties because I live in the United States, and I am doing a real estate from
05:35.438 --> 05:37.480
[SPEAKER_01]: I always like to say my kitchen table.
05:39.603 --> 05:50.174
[SPEAKER_01]: When it comes to people who want to buy real sale or something that may be further out than like the capital in some of these areas, I refer to agents that are on the ground.
05:50.194 --> 05:52.336
[SPEAKER_01]: So for me, I'm selling off-plant.
05:52.356 --> 05:55.400
[SPEAKER_01]: Typically off-plant is going to be where they buy land now.
05:55.680 --> 06:04.770
[SPEAKER_01]: They may be a later, or they are buying in a new development where mostly their condominiums, they could be villas,
06:04.750 --> 06:19.507
[SPEAKER_01]: I have not yet sold any single-family homes, those typically are higher, but I haven't had anyone that has been interested because of most of our people who are buying investors, they're from the United States.
06:19.908 --> 06:24.373
[SPEAKER_01]: And so, from the United States, they're not looking to buy a single-family home.
06:24.393 --> 06:27.096
[SPEAKER_01]: They're looking to buy something that can be short-term rental,
06:27.295 --> 06:38.070
[SPEAKER_01]: something that they can take their families to when they want to go on vacation or want to travel to the country, but they're looking for something as well that sometimes they just want to flip it.
06:38.630 --> 06:40.133
[SPEAKER_01]: You know, what brought this?
06:40.153 --> 06:40.753
[SPEAKER_01]: Absolutely.
06:41.094 --> 06:43.878
[SPEAKER_00]: Yeah, and that was going to be my follow-up question.
06:43.998 --> 06:46.241
[SPEAKER_00]: What type of strategies that they're using?
06:46.281 --> 06:48.544
[SPEAKER_00]: I've seen a lot of women here saying,
06:48.524 --> 06:56.854
[SPEAKER_00]: Well, I can have a property in rented out in a place, but I am not using necessarily that property, right?
06:56.894 --> 07:04.603
[SPEAKER_00]: So, most investors are also looking to, well, mine as well, investing in an area where I would like to go.
07:04.623 --> 07:12.492
[SPEAKER_00]: I would like to spend a couple of days there and you kind of like enjoy that piece of property.
07:12.932 --> 07:17.097
[SPEAKER_00]: So, when comes down to short-term rentals,
07:17.077 --> 07:21.163
[SPEAKER_00]: I know that United States, the pending on where you go is very strict.
07:21.603 --> 07:24.688
[SPEAKER_00]: Others is like a wild west.
07:25.429 --> 07:30.476
[SPEAKER_00]: How is internationally when it comes down to the legal piece of short-term rental?
07:30.956 --> 07:34.541
[SPEAKER_01]: So, and dress, I have a few different ways of looking at it.
07:34.581 --> 07:37.305
[SPEAKER_01]: So, let's take, go back to Ponticana for one example.
07:37.685 --> 07:40.990
[SPEAKER_01]: When it comes to Ponticana, that is a hot spot.
07:41.030 --> 07:42.072
[SPEAKER_01]: People vacation there.
07:42.392 --> 07:46.037
[SPEAKER_01]: I think last year, in 2024, they saw 10 million tourists.
07:46.017 --> 07:47.841
[SPEAKER_01]: tourist come through the country.
07:48.141 --> 07:49.825
[SPEAKER_01]: They expect more for 2025.
07:50.727 --> 07:55.918
[SPEAKER_01]: But when I'm talking, it's speaking to the investors who are investing at high spots like that.
07:55.938 --> 07:59.004
[SPEAKER_01]: It is for them to go and take their family like for example.
07:59.064 --> 08:03.874
[SPEAKER_01]: I have one investor from New York who purchased a two-bedroom condominium.
08:04.158 --> 08:10.505
[SPEAKER_01]: um, and for that, she spent about $154,000 for her.
08:10.645 --> 08:13.347
[SPEAKER_01]: She's looking at rent and it's short-term.
08:13.367 --> 08:24.939
[SPEAKER_01]: There is basically no restrictions in these countries like the Medicare and Public, like Ghana, like Dubai, but I always tell people that is where it is now.
08:24.959 --> 08:32.427
[SPEAKER_01]: Let's take another country, like Greece, one example, I'm just switching over to Europe because we travel to so many areas,
08:32.407 --> 08:43.243
[SPEAKER_01]: And so, going into Greece to give you an example, we went and we looked at properties that were near the water, inland a little bit.
08:43.605 --> 08:44.307
[SPEAKER_01]: But...
08:44.742 --> 08:49.086
[SPEAKER_01]: The difference was that Greece has a golden visa program.
08:49.146 --> 09:00.857
[SPEAKER_01]: So if you were to invest in the country as an investor, you would be able to apply for a golden visa and obtain residency in eventually a citizenship of that country and that's the major play.
09:01.317 --> 09:13.028
[SPEAKER_01]: But for some of these countries, if people are investing at a rapid number and now it begins to affect locals finding housing,
09:13.008 --> 09:18.915
[SPEAKER_01]: And so their threshold for investing to get a go-to visa at one time was $300,000.
09:19.676 --> 09:22.779
[SPEAKER_01]: When we went last year in April, they raised it to $500,000.
09:22.959 --> 09:27.504
[SPEAKER_01]: And then, three months later, they increased it to $800,000.
09:27.645 --> 09:31.028
[SPEAKER_01]: And that's meant to slow down the investments.
09:31.309 --> 09:38.577
[SPEAKER_01]: So even though there were no restrictions on one short-term rental, there was restrictions on how many people can come.
09:39.063 --> 09:49.416
[SPEAKER_01]: at the rate that they would come in, because people were like, I don't want citizenship in Greece because Greece is also in high spot as well with the multiple islands that you can hop to just take in a ferry.
09:49.797 --> 09:59.930
[SPEAKER_01]: And so the government itself had to look at that and say, although we want investors in the country, we don't have restrictions, we need to increase the price so we can slow down the influx.
10:00.230 --> 10:02.573
[SPEAKER_01]: So that it doesn't affect the local people.
10:02.857 --> 10:05.560
[SPEAKER_00]: It seems very similar to what happened in Portugal.
10:05.640 --> 10:08.923
[SPEAKER_00]: And I don't know if they still even have that open, right?
10:08.943 --> 10:16.771
[SPEAKER_00]: Because you're in Europe, the population is not growing as fast, but that is the key.
10:16.791 --> 10:22.916
[SPEAKER_00]: I have a quick follow-up questioning in regards to the buying a project that is on paper, right?
10:22.937 --> 10:24.038
[SPEAKER_00]: That is building.
10:24.058 --> 10:29.623
[SPEAKER_00]: I think one of the biggest concerns that people have is like,
10:29.603 --> 10:45.409
[SPEAKER_00]: I come from Brazil and there were a lot of projects there that people bought while was still on the plant and it never came to fruition and the contract is a peer.
10:45.709 --> 10:47.392
[SPEAKER_00]: So I want to double check with you.
10:47.733 --> 10:52.320
[SPEAKER_00]: What is your relationship with the builders and how do you vet them?
10:52.790 --> 11:03.743
[SPEAKER_01]: I would say very blessed because starting off in a market like the Dominican Republic, I joined a local brand there, which was Kelli Williams, Ponticana, in that area.
11:04.123 --> 11:20.603
[SPEAKER_01]: So that developer, but that owner of Kelli Williams, she was actually also a developer, and then she had relationships with other developers that was on the ground, which made it easy for me to tie into a brokerage that already had,
11:20.583 --> 11:27.927
[SPEAKER_01]: a representation on the island and she already had a network and so I tied into that network.
11:28.210 --> 11:54.270
[SPEAKER_01]: and then from there I'm off to Clyde and then I got what a brokerage that was in Ghana and from there she began to bet and had relationships with developers on the ground until I brushed off and started working solo with my own network and so now with that process look like is making sure that I work with a reputable developer on the ground that may have completed other projects in the past and has finished work.
11:54.571 --> 11:55.973
[SPEAKER_01]: So typically that's
11:55.953 --> 12:24.998
[SPEAKER_01]: the development in which I'm going with but I won't say that that's always the case because sometimes some projects come that can be near and dear to your heart and so like we do have a developer and a project in Donna and this developer is still first project but what made during me to that person that developer in Donna was the fact that I was introduced by someone who
12:24.978 --> 12:37.158
[SPEAKER_01]: he was being mentored by another development company and developer in that country who had already completed seven projects and had been, you know, development for 20 years.
12:37.519 --> 12:44.050
[SPEAKER_01]: And so his engineer was overseeing that engineer project, which made it easy for me to say yes.
12:44.030 --> 12:48.295
[SPEAKER_01]: And so, I think for the most part, it's just vetting them.
12:48.596 --> 12:55.083
[SPEAKER_01]: You can also go to my government website and take a look to see what developers that they recommend.
12:55.744 --> 13:07.118
[SPEAKER_01]: If anybody has been reported of doing any fraud with my activity, and just case, I'm point, address, and Dubai, there was a developer, a developer there that was very popular.
13:07.098 --> 13:21.751
[SPEAKER_01]: But the CEO ran off with like 400 million of investors money, and so what Dubai, what their government has put into place now, especially with new construction, is that the escrow now goes to the government.
13:22.071 --> 13:26.862
[SPEAKER_01]: They charge a 4% for investors who are investing in the country, and then
13:27.702 --> 13:35.912
[SPEAKER_01]: they are overseeing that whole project or transaction so that they don't have a repeat of people coming into their country.
13:36.112 --> 13:45.543
[SPEAKER_01]: Because you will find that, and I have to learn this going out into these international real estate streets, that there's a money laundering that's going on at the same time.
13:45.903 --> 13:54.874
[SPEAKER_01]: And so you have to be very careful in this five government are now starting to put rules in place because there is laundering bond on.
13:55.175 --> 13:55.756
[SPEAKER_00]: got him.
13:56.177 --> 14:07.985
[SPEAKER_00]: So when he comes down to Ghana, Pontacana, Dominican Republic, Dubai, what is the entry point that we are talking about when we we're looking to an initial investment?
14:08.025 --> 14:13.538
[SPEAKER_00]: What is the the range that one will have to have in order to even play that game?
14:14.041 --> 14:25.743
[SPEAKER_01]: So I would say it just depends because you know that when it comes to all plant properties and invest the international, you don't always have to have the cash upfront.
14:26.184 --> 14:37.264
[SPEAKER_01]: So we have people who invest and they get on what is a two year or up to a seven year in Dubai payment plan to where they put down maybe 20% upfront.
14:37.244 --> 14:45.093
[SPEAKER_01]: or 30%, 40%, the more you put in, the more a greater your discount on the actual property would be.
14:45.453 --> 14:50.538
[SPEAKER_01]: And so for an example, we have one developer in Pentecano.
14:50.599 --> 14:52.280
[SPEAKER_01]: There are one bedrooms, 115,000.
14:52.601 --> 15:01.070
[SPEAKER_01]: They're not furnished, however, it's only $2,000 to put down a deposit for that particular development.
15:01.350 --> 15:05.715
[SPEAKER_01]: And then you get to pay over time.
15:05.695 --> 15:14.745
[SPEAKER_01]: And then you get to break it up because a lot of these developers that we have been fortunate to work with is that their payment plans are very flexible.
15:15.066 --> 15:18.169
[SPEAKER_01]: So we have an investor that puts down 20%.
15:18.389 --> 15:35.128
[SPEAKER_01]: Like after they put down that big chunk, most of the developers have been very flexible to say, hey, if you need a break that's fine, you can start paying 60 days out from now with your monthly
15:35.108 --> 15:39.776
[SPEAKER_01]: but they can get in for as little as $2,000 to the positive.
15:40.397 --> 15:58.028
[SPEAKER_00]: So let's break down the financing piece a little bit because over here in the U.S. you go to a traditional institution, you get an appraisal, and then you go on the LTV, depending on what it is.
15:58.008 --> 16:06.202
[SPEAKER_00]: How is internationally, the U.S. investors use international banks?
16:06.563 --> 16:13.234
[SPEAKER_00]: How do they evaluate and make sure that the project has the value that is being sold?
16:13.454 --> 16:15.017
[SPEAKER_00]: Is it at a praisle process?
16:15.378 --> 16:22.750
[SPEAKER_00]: Because in Brazil, it's not, and is it completely different?
16:22.730 --> 16:37.127
[SPEAKER_00]: bulls my mind that they they don't it's more towards buy-and-seller agreement per se if they're not using a bank but regardless how is it international markets that we're we're talking here.
16:37.934 --> 16:44.004
[SPEAKER_01]: For all of my investors who have purchased so far, they have not used financing.
16:44.024 --> 16:46.709
[SPEAKER_01]: Everyone is on a cash payment plan.
16:47.189 --> 16:54.341
[SPEAKER_01]: Because in the beginning, when we tell them, hey, you can get financing for a foreigner, but this is what the interest rate looks like.
16:54.782 --> 16:58.288
[SPEAKER_01]: And across all of the countries, except for the UAE,
16:58.268 --> 17:12.496
[SPEAKER_01]: The interest rates have varied from like seven up to 15% as a corner because you are a corner investing in another country where you may not have residents and so that is considered to be like high risk.
17:12.516 --> 17:17.205
[SPEAKER_01]: So a lot of times when I show them the difference between them being on a cash payment
17:17.472 --> 17:19.956
[SPEAKER_01]: and have an interest rate between seven and 15%.
17:20.317 --> 17:32.678
[SPEAKER_01]: They have always opted to go for the cash payment plan because they don't want to get tied into having to pay back all of the interest because the cash payment plan you're not actually paying interest.
17:33.239 --> 17:35.262
[SPEAKER_01]: The thing with me working in,
17:35.478 --> 17:45.056
[SPEAKER_01]: seven different markers, three different continents is that a lot of these countries don't have it in my last like you have here in the United States.
17:45.076 --> 17:53.131
[SPEAKER_01]: So as an agent, I'm so used to going and pulling up pumps in one system, but you can't do that international.
17:53.432 --> 17:58.161
[SPEAKER_01]: So what we have acts of developers and what the developers are provided is like okay.
17:58.141 --> 18:22.039
[SPEAKER_01]: what our other off plans, or maybe something by project that has recently been completed, sometimes they will compare to maybe Greece still in the area, but that is homework that the developer has to provide us, and we have to also go out and find that information ourselves, because sometimes you don't want to take just the developers, you know, work for it,
18:22.019 --> 18:25.424
[SPEAKER_01]: Yeah, it just all depends on reputation for me as well.
18:25.565 --> 18:28.810
[SPEAKER_01]: So some developers, I do trust the data that they are providing.
18:29.611 --> 18:32.175
[SPEAKER_01]: But it's going out and seeing those things.
18:32.195 --> 18:39.968
[SPEAKER_01]: So you can look on Airbnb to see what studio units, one bedroom, two bedrooms, our renting floor.
18:40.048 --> 18:46.558
[SPEAKER_01]: There are some pockets of different MLSs that are popping up in different countries, including an app.
18:46.538 --> 19:10.926
[SPEAKER_01]: Africa and they're like taking like maybe three or five different nations in one the continent of Africa and rapidly into one system so that you can't find some properties but it is no law to where all the ages have to put their properties into you know the system and so basically you're on the internet just searching for this information.
19:11.868 --> 19:12.429
[SPEAKER_00]: my goodness.
19:12.910 --> 19:22.209
[SPEAKER_00]: My sister was actually buying a house in Brazil and I say, okay, sent me the link and she sent me an Instagram link and I'm like, what is this?
19:22.610 --> 19:25.215
[SPEAKER_00]: Like, she's like, well, that's the house.
19:25.736 --> 19:26.738
[SPEAKER_00]: And I'm like,
19:26.887 --> 19:31.217
[SPEAKER_00]: Where are the comms who's like, well, here are the comms.
19:31.478 --> 19:32.560
[SPEAKER_00]: It is Instagram.
19:32.580 --> 19:34.344
[SPEAKER_00]: And I'm like, what are you talking about?
19:34.404 --> 19:41.140
[SPEAKER_00]: So I call a friend of mine who is a real term like, hey, do you have your quote unquote, your MLS?
19:41.160 --> 19:43.906
[SPEAKER_00]: She's like, no, every broker have their own.
19:44.187 --> 19:44.828
[SPEAKER_00]: And I'm like,
19:44.808 --> 19:49.014
[SPEAKER_00]: how the hell do you communicate among agencies?
19:49.876 --> 19:51.198
[SPEAKER_00]: Over here, it doesn't really matter.
19:51.218 --> 19:56.786
[SPEAKER_00]: We are under one system so we can access everything.
19:56.846 --> 20:03.576
[SPEAKER_00]: I don't want to know what color Williams has and
20:03.556 --> 20:05.359
[SPEAKER_00]: And they're like, well, not here.
20:05.379 --> 20:11.210
[SPEAKER_00]: I'm like, it's so much more difficult, but at the same time, you have to do your due diligence.
20:11.550 --> 20:14.916
[SPEAKER_00]: When it comes down to the cash payment, I just want to clarify one thing.
20:15.417 --> 20:16.720
[SPEAKER_00]: So who holds that?
20:16.840 --> 20:19.024
[SPEAKER_00]: Is it like a local bank?
20:19.104 --> 20:20.266
[SPEAKER_00]: Is it askro?
20:20.807 --> 20:24.113
[SPEAKER_00]: Or is it the developer that is responsible for that?
20:24.397 --> 20:28.526
[SPEAKER_01]: for the most part is the developer who is holding the cash.
20:29.549 --> 20:40.954
[SPEAKER_01]: There are purchase agreements, and the loudest thing to me, and Dressa, is from me being from the United States, I always recommended my clients here use attorneys.
20:40.934 --> 20:44.820
[SPEAKER_01]: And so I recommend the same thing for those that I've purchased in international.
20:45.200 --> 20:48.045
[SPEAKER_01]: But I have 24 investors who have invested.
20:48.065 --> 20:58.400
[SPEAKER_01]: I want to say only maybe four have taken advantage of like utilizing attorneys to make sure that those things are in place.
20:58.420 --> 21:07.954
[SPEAKER_01]: And so that also helps protect but the escrow that the developer has is broken down into the purchase agreement and to the sales contract.
21:08.761 --> 21:13.869
[SPEAKER_01]: But if something happens, like who's going to enforce, and maybe they will hire you in a turning at that time.
21:14.289 --> 21:20.458
[SPEAKER_01]: But for now, the attorney fees, they get paid like the real turns here in the United States.
21:20.478 --> 21:23.503
[SPEAKER_01]: They get paid by 1% to three, four, five.
21:23.843 --> 21:25.085
[SPEAKER_01]: It's no flat fee.
21:25.145 --> 21:30.533
[SPEAKER_01]: Like if you're in the United States or so, some people are like, I'm not gonna spend $2500.
21:30.513 --> 21:44.481
[SPEAKER_01]: and hiring an attorney, you know, a broad, even though you should make that investment because, you know, who wants to pay for what later, just in case something happens, but people have been opting, you know, even out of that as well.
21:44.781 --> 21:51.434
[SPEAKER_01]: But it's typically the developer who is holding the money and in a few cases, there is a escrow.
21:51.755 --> 21:52.757
[SPEAKER_01]: But...
21:52.737 --> 22:03.538
[SPEAKER_01]: You can request if you, you know, get into a contract or deal with an offline developer, you can request the habit to put in an escrow.
22:03.779 --> 22:11.494
[SPEAKER_01]: Now, whether an developer will agree because typically they're using that money to actually build a project as they go along this way.
22:12.095 --> 22:12.636
[SPEAKER_00]: Makes sense.
22:12.987 --> 22:19.876
[SPEAKER_00]: Let's question for you in regards to tax and I know you're not a CPA in either a tax advisor.
22:20.237 --> 22:32.734
[SPEAKER_00]: But how does that play into taxes here in the in the U.S. Can we claim anything from or what is the what is the implication?
22:32.714 --> 22:43.273
[SPEAKER_01]: So, I'm not an accountant, but because I've been selling international for the last three years, we have profited, you know, a compassist and some business.
22:43.293 --> 22:51.448
[SPEAKER_01]: So, I have an accountant to come in to talk about international taxes and what the implications or responsibility would be for.
22:51.428 --> 23:15.259
[SPEAKER_01]: anybody who is investing so this is how she has broken it down is that no matter where you are in the world as a US citizen the taxes are going to find you in any country so it doesn't matter as long as you are still a citizen however there is so much money that you can make internationally and don't have to pay taxes on it.
23:15.239 --> 23:31.996
[SPEAKER_01]: I don't know regarding this last bill that the government has put out, but previous to that, what she told us is that you can make up to like $100,000 outside of the United States, what out having to pay, like additional taxes on it.
23:32.417 --> 23:34.579
[SPEAKER_01]: Anything over, we would have to pay taxes.
23:34.839 --> 23:40.605
[SPEAKER_01]: Now, please do go and verify that, you know, with your accountant.
23:41.092 --> 23:43.995
[SPEAKER_01]: Some of our people have opened up businesses and other countries.
23:44.396 --> 23:47.139
[SPEAKER_01]: Some of them have also opened up check in accounts.
23:47.159 --> 23:51.503
[SPEAKER_01]: And so we asked, like, okay, how much can we have in a check in account?
23:51.523 --> 24:02.595
[SPEAKER_01]: And so it was up to, I believe, $10,000 for outside of the United States for you having like the offshore bank account, anything over that.
24:02.675 --> 24:06.099
[SPEAKER_01]: You definitely need to report back to the United States.
24:06.199 --> 24:06.880
[SPEAKER_01]: And so,
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[SPEAKER_01]: Talk to your accountant about what that looks like, but have an investment overseas as well.
24:12.587 --> 24:16.871
[SPEAKER_01]: It's still good for you to be able to write off on your taxes.
24:17.712 --> 24:18.093
[SPEAKER_00]: Awesome.
24:18.774 --> 24:24.680
[SPEAKER_00]: McKita, thank you so much for bringing such lots of great information about investing internationally.
24:25.061 --> 24:28.204
[SPEAKER_00]: Where the women listening can find more about you?
24:28.865 --> 24:35.753
[SPEAKER_01]: Bake at find me on all social media platforms.
24:35.733 --> 24:41.400
[SPEAKER_01]: where you will see a lot of educational information out the live with investors all the time.
24:41.761 --> 24:52.354
[SPEAKER_01]: I have went live with my developers and I'm just always making sure that we educate, educate, educate because I want more people to get into this international real estate space.
24:52.394 --> 24:55.058
[SPEAKER_01]: So, McKita Smith Global is everywhere.
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[SPEAKER_00]: Awesome.
24:55.498 --> 24:59.063
[SPEAKER_00]: Thank you so much for being here with us, McKita.
24:59.804 --> 25:00.605
[SPEAKER_01]: Thank you so much.
25:00.705 --> 25:05.571
[SPEAKER_01]: I appreciate you, Andresa.
