I'm currently in England on a student visa. I'm a 32 yr old American.
Has anyone on BP been able to invest internationally? If so what steps did you take? What where your acquisition and exit strategies?
My goal is £2,000/month. My overhead is almost nothing.
I've never done real estate investing before and my bank account usually has a sad emoticon showing me to make more money. :-) So I don't have more than a few hundred dollars to get started.
When I read your title, I thought....Oh, brother, what nut do we have now with some wild scheme, but then a few seconds later I recalled a motel deal that I got dumped to a buyer in India, so I thought, well, yes, you certainly can, with a lot of headaches and brain damage. But, that thought quickly faded when I saw your post.....LOL
What are you proposing? Selling to those you know there? I'd think commercial would be a better avenue, but then you don't know anything about RE.
First, learn RE, then how financing operates. By that time you might see that wholesaling isn't what it's cracked up to be and see that other avenues are just as viable to make some money.
Not being here is a pretty big issue, knowing the markets or practices and trying to buy or sell on the phone or my email.
Why not study first, conventional real estate aspects and get involved when you get back, I assume you're coming back?
You may have others jump in telling you that you can easily do that if you buy their program or sign up for their mentoring services.......use some common sense before you leap. :)
We are currently investing internationally in Belize, I think that the biggest thing to figure out first is the rule of law in the particular area that you may be considering. We favor British common law countries because of their property rights and often foreigners can own property with little to no restrictions.
Once we figure that our capital will be protected, then, like researching any market, you look for positive growth drivers, e.g.... jobs, tourism, retirement haven, lack of inventory in a desirable location etc...
That will at least get you started on your educational journey in the international space.
But agree with Bill G, get clear on what you are trying to accomplish.
@Jack North I'm sure there are a lot of folks on here who have and/or are in your shoes. I know many folks who work with international buyers exclusively both on the wholesaling and buy and hold side as well. The key is to be able to build a solid team who understands your goals and needs. Best of luck!
The international buyers you speak of - are they American? It makes sense for me to play to my strengths (aka being an American REI in England.)
@Bill G - totally! I'm learning how REI works back in the states while I'm traveling the world. I'm basically raising some ideas up the flag pole to see if anyone salutes. It would make sense to try and sell to other Americans. I *think* so anyway. But like you said - that's where the education comes in! I not scared to leap! But I at least figure out what cliff I'm diving off of and knowing which cord to pull. (aka acquisition strategy and exit plan! :-) Besides BP any suggestions on learning more about financing?
@Eric Tait - yeah, it seems like the British allow anyone and their mother to buy anything they want here (well - pretty much!) More and more Russian and Easter European money are either moving or investing here. I'm living with a British family who's bought and sold properties around London - so I'm utilizing them as a real source.
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