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Overseas property investors all know that the profits in any investment property abroad are made at the purchase. That is too say the property is bought cheap enough that capital gains are almost certain. Seasoned investors continuously search the overseas property markets for cheap property abroad, but is this really the best way to find a good investment property?I once learnt of an apparent Chinese proverb which said "cheap things no good, good things no cheap "which runs along the lines of if it's too good to be true it probably is. Cheap property abroad is cheap for a reason and this is where investors will have to place their attention. Why is this property so cheap?Off Plan propertyPre construction property can bought before a brick is laid and sometimes before even planning permission is granted. Off plan property is a great way to make your profit on the purchase. Typically buying property at this early stage almost guarantees you a profit when the property is built and ready to sell. However investors need to study the market, in generally stable markets builders will offer the property cheap enough for investors to make a profit. Some builders will guarantee that the price of the finished property will be 'X'. This can be ideal as investors can anticipate profits and even plan what they will do with the instant equity in their property once it has been finished. Investors need to be careful with title and planning permission and should seek legal advice to make sure that these are correct at the time of purchase. Off plan property can be cheap because the builder needs to raise funds to continue building and without your early investment money the project may not even start. Investors need to seek guarantees regarding projects that don't take off. A safe way is to have your money held in an escrow account. Here are some considerations: 1.) What guarantees do you have that the developer would not go under or this project would not go under? 2.) Will my deposit be placed in an Escrow Account? 3.) Research the building company, what work have they done in the past 4.) Has the builder secured planning permission and local permissions for the project? 5.) Are there any legal safeguards for foreign investors in the case of non-completion or poor construction work by the developer? 6.) What if you decided to sell before completion of the project, would that be possible and would I be penalized in anyway? 7.) How easy is it to buy and sell property in this country? 8.) What if I decide to sell my (residence/hotel suite)? 9.) Are there any other fees while the project is being built and what about after completion? 10.) What do you anticipate the rental income to be once the facility opens based on current rates at similar properties? 11.) What is the payment schedule? 12.) What happens if the building is delayed? 13.) What is the rental yield I can expect? 14.) What are the tax and inheritance implications? 15.) What is the buying process in this country? Cheap property for sale it could be the locationMany overseas markets have not been subject to the over inflated prices that many European and US cities have undergone. These prices have been driven by demand over supply. So why has this not happen in the region that is offering cheap property? It is clear that many countries are new to the overseas property markets. Former eastern block countries are a good example of this. Regions that do not have very good access and low cost of living will also offer cheap property abroad. However it could well be that there is so much land i.e. supply is plenty that property prices are not being pushed up. Emerging markets where investors have not had a chance to buy property could be ripe. Consider the buying and legal process some governements make foreign buyers jump through so many hoops that it puts investors off. Healthcare, government stabilty, lack of infrastructure all reason why property is still cheap. It is clear that cheap property may not be all it seems but research can make cheap property abroad a profitable business for the overseas property investor. Investors who find cheap property abroad should know the reason why and identify features that will remedy these factors. A good example is a region with a lack of infrastructure but there are plans in place to improve upon these in the not too distant future. This sort of foresight can save money on purchase and make money on sale. Article Tags: Cheap Property Abroad, Cheap Property, Property Abroad, Overseas Property, Planning Permission, Investors Need