Hello Biggerpockets members,
My name is Shahaf and I'm a software Engineer from Israel, it's my first post here.
I'm studying the power of passive income and real estate investing(rental properties) for a while now,
I'm really interested to start investing in the U.S but not sure how it's going to be managed,
I mean I can fly like a couple of times a year, but is it really possible to do that remotely?
I'll sharp my question, is there any platform or certain ways I can manage all the basic aspects of investing like, finance, properties analyzing without seeing it in real life, property management , properties buying ans selling, accountants handling and lawyers, taxes etc..
BTW I'm visiting the US in a couple of days, anything I should do while i'm there ?
@Shahaf Benita I also invest from outside the U.S. and it can be done. However I recommend that you first find a location you want to invest, and then build up a network there. It would likely be best to spend a couple of weeks there, if possible, setting up some meetings with property managers, realtors, and contractors.
And I strongly suggest you get a property manager at first. I've found it immensely helpful, especially when you consider the difficulty of a tenant contacting you outside the U.S., the ease for a property manager to do a visual inspection, their knowledge of local contacts, etc.
@Lior Reich Thank you, was attending to open a bank account, you just made my action stronger so thank you for that. and i'll definitely look into your writings. I would also love to have a quick talk if you can, to get a bit more details about particular subjects :)
@Wes S. Thank you for the reply! helped me a lot!
@Michael Roman Will absolutely consider that if i'll have a strong connection there who I count on, I will develop the connections with the time :) Thank you for the reply!
In terms of investing remotely, a few options have been suggested to you already. I'd say, start with determining as to whether you'd like to be active or passive investor. In other words, how much time do you have and/or can realistically spend on managing your RE investing business. If you have plenty and want to be active then take finding the property route (as one of the options). If your time is limited or you prefer that someone more experienced takes care of the investments for you, then syndications is a good option to consider.
Best of luck!