Chinese Property Vultures See An Opportunity In The US To Make A Profitable Investment

Chinese Property Vultures See An Opportunity In The US To Make A Profitable Investment

Yin Guohua does not want to travel for business or to sightsee in the United States in order to go house hunting.

Many like Yin Guohua are opting to purchase sight unseen. The fact that the prices of homes are such bargains and their monies are secured by a Title company before finalizing the purchase of the property has provided the Chinese the confidence in purchasing sight unseen.

"It's a good time to buy property in the U.S.," he said. "I have confidence in U.S. real estate market. I think I will get a return."

This Beijing lawyer and a few dozen others well to do Chinese have purchased sight unseen instead of packing their bags, leaving important work and family behind to go out on a real estate tour of major U.S. cities. Their time is too precious to waste.

Many wealthy Chinese -- flush with cash -- are looking for investment opportunities. With the U.S. housing market down by double digits, many of them are purchasing in America. They are bargain hunters shopping for real estate. Some ask, why not buy a second home in China?

"They call America 'mei guo' -- the beautiful land. They want a piece of it," said Chiam Katzap, founder of Lion's Property Development. "They also want to have their kids educated in America. They want to have an opportunity to go to America as often as they desire."

Looking to spend between $100,000 and $150,000, these potential buyers have seen everything from foreclosed homes to condos.

Yin has focused his search on Florida, where he has business contacts and a few relatives. And while he's considering buying property mostly as an investment, his search criteria are not that different from any American's. It all comes back to location, location, location.

"I want to see property in good neighborhood with potential of high return on investment," he said. "I want it if possible being located in school district so that it will be convenient for my son to go to school."

For the Chinese like Yin who sees a great investment in the United States, American real estate brokers are there to make the transaction happen.

One of the experts in the business who specializes in bringing exactly these illusive property deals to the Chinese buyers is Investment Property Vultures. Mainly they offer foreclosures and distressed properties but also, government owned properties. Investors anywhere in Asia including China, Hong Kong, and Singapore can contact them via their website www.investmentpropertvultures.com or email them at info@investmentpropertyvultures.com.

"I think the Chinese are the clever ones," said Katzap. "They are coming now. We are down in prices. We are not down in values. They are buying."

For Americans battered by a disastrous housing market, an influx of Chinese investors may not be a bad thing.

"Love it, we welcome it," said one Florida resident.

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