Overseas Investor

Overseas Investor

Investor · Dubai, UAE · Member since 2015 · 17 posts · 6 votes

I currently live in Dubai and considering buying property in USA. As one can understand it’s a daunting task to select an area out of 52 states. Which state, then county/city and neighborhood?

As I am overseas, I will be dependent on the onshore team to complete a transaction. I want more experienced real estate investor’s guidance, opinions and ideas on how to go about it.

Below are some of the tasks that I am planning to undertake

Finalize a state/county/city/Neighborhood – How to I arrive on an area (GDP, Population, Employment, real estate growth or any other criteria) ? How to finalize a neighborhood? Is there a website where I can get rating (ABC etc.) and how reliable it is? Do I search for more than 1 website?

Search Brokers/realtors – this will again depend on which state/city/county to look

Contractors – For Rehab this will be the most important people. How to find them apart from getting reference from realtor?

Property Management company – How to find a particular area?

Value Estimator – are these independent or from the bank?

Property Software: Do you recommend any software to for searching property, neighborhood and calculating a deal?

LLC formation: and get Employment Identification Number (EIN) and then apply for ITNS. Do you have any recommendation for this?

CPA/Yearly Tax Return filing – need some guidance on this in terms of reliable and reasonably priced.

Lawyer – For drafting contracts or making offer

Title Company – to check the company details?

Inspector: to confirm the condition of the house.

Insurance provider: where to go for getting proper coverage and get competitive rates

Mortgage Broker – I am not sure if they lend to overseas investor?

I am not sure if one needs any other person in the team apart from the above.

I found BP community is not only informative but also very inspiring! I am looking forward to make more partners, friends and share things as I learn it.

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Engineer · Abu Dhabi, U.A.E · Member since 2015 · 39 posts · 3 votes
11y

@Mehul Mehta

Hello its really nice finally meeting someone from the uae in the forum......i am a newbie just joined BP last week with a mission of becoming an REI. I WISH YOU ALL THE BEST AS YOU GO ON WITH YOUR INVESTMENT.

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  • London · Member since 2019 · 722 posts · 386 votes
    7y

    The real question is why invest in the USA? Lots of hurdles to cross if you are not in the USA (independent of passport). There could be strong logic so it might be the right decision. That said, the overseas investor (investor outside the USA) does have extra friction, hurdles or problems. For many, there is the currency risk. You could pick a winning property and still show a loss in your local currency once you covert the profits back. So, you need to have a strong reason to invest in another country given the disadvantages.

    Note. I invest in two countries. So, I am not against it in principle. Just stating that it is not the obvious winner that it might seem.

    Happy to share what I do (USA and UK investor). 

  • Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
    7y

    @John Corey I'm interested in talking about UK and other non-US investing with you. Sent you a connect request, let's talk!

  • London · Member since 2019 · 722 posts · 386 votes
    7y
    Originally posted by @Taylor L.:

    @John Corey I'm interested in talking about UK and other non-US investing with you. Sent you a connect request, let's talk!

    Got it. Reply sent. Happy to share. 

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