It's at a central locaton in the capital city of a third world country. It will always have tourists no matter what. Its my family's old estate and is currently heing renovated to a modern look. It previously had success as a hostel before Corona. I am able to legally claim the property despite being a foreign citizen however is this a wise business idea? I figured I could just hire and monitor a management team, cooks, cleaners, security and the like? I have experience managing an office so I feel it would be similar. I would try to visit the property every quarter if not twice a year. Otherwise there is Zoom to meet with staff. I absolutely cannot speak the local language but the can hire staff who are bilingual. Keeping in mind I also have a full time job and university studies.
original posted by Mahiyah to r/personalfinance on Sun, 10 Mar 2024 15:58:36 GMT.