Investment in India - need for personal visit???

Classy · Jul 31, 2010

We invested in a apartment in India a little less that 1 cr. My in laws were helping in looking out the needs on it. My husband has never seen this place in person and we only looked at plans online and picked one plan. The home is almost complete and now am going to India with kids and my husband is reluctant to come due to expenses. One of the reason I wanted him to come is to make sure we visit this home which is close to completion now and finalize on options, how to rent it out etc. My husband on the other hand thinks it is a investment property, we dont know if we will even stay there, so let us leave the control completely to parents or other relatives who are there. All of the ppl involved are from my in laws side and though I do trust them in terms of money am a bit uncomfortable on leaving that without even visiting it. Have you experienced such? Does it matter that we visit? Should I visit alone or take it easy? Am going with 2 kids to my moms place. Thanks!

trulypriyaz · Jul 31, 2010

hi classy, make sure that you visit the place even if your husband doesnt come. It is a huge investment and you need to take care. i dont say that you should not trust anyone, but i want you to be careful as it is your property. once you confirm that everything is fine and clear, you wont have any problem in the future. ok. bye. Priya.
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Classy · Jul 31, 2010

Hi ILs,
Thanks for vieweing this and the one response. I am willing to visit when am there, just that it could be little difficult form me to travel with kids, but will try my best to visit considering its a investment. But am little concerned that my husband simply says this is a investment home, let us not even bother to visit it and leave it to parents. Should I stress him to visit along with me? He acutally has his tickets booked but is hesitating to travel just for this reason to see the investment and leaves decision upto me. Considering that it is his ppl working on it, and its a big investment, shouldn't he visit as well?

Laks09 · Jul 31, 2010

Classy,
If the home is meant to be an investment property then you need to make sure the returns(the rent in this case) is going into your bank a/c. I do have neighbors who live in the US and the apt is on rent. The tenants pay the rent into the owner's bank a/c here in India. While the negotiations were on, the owner himself came down to fix all this. His Dad was with him. Once he left, his Dad visits for any issues etc.

I did buy an apt in India while living in the US just as an investment, nothing more but we didn't rent it out. I just bought it and left it locked. It came in handy when we moved back. I guess I always knew we were moving so never bothered to rent it out!

HTH,
L