Overseas Rental Property Investor

[Nicholas Conte]

I am looking to make my first real estate investment this year. I began a career as a merchant mariner this past year and spend most of my time overseas. Whenever I am back home on land it is for a short period of time. That being said, I'm expecting it to be tough to find a quality property, agent, or manager, in a short time. I'm looking for anyone with any kind of advice on how to go about this process the best way possible.

Also, I am currently building on my financial knowledge and would appreciate any book recommendations or any general recommendations to help a young investor learn. I found this website reading Brandon Turner's The Book on Rental Property Investing.

[Aaron W.]

@Nicholas Conte Welcome to the community! It is possible to invest in real estate even with your busy schedule. You will need to prioritize the time you have available when back on land get what you need done. Is it possible to use the internet and email while you are overseas?

First thing you'll want to do is establish your why in investing in real estate and work backwards to set goals to accomplish the why. Things to consider are whether you want to invest for cash flow or appreciation? Do you need the cash flow now? What is your appetite for rehab projects? 

You'll want to build a solid real estate team where it is you decide to invest including a real estate agent, property manager, lender, and contractor (if the property manager does not handle rehab projects). I've found the more success with building these team members through referrals.  

Since you are overseas most of the time, you'll want to ensure you have a solid property manager who will be your eyes and ears with the property. This member can make or break the profitability of your property depending on how well they manage this property for you. Not all property managers are made alike. 

In addition to the book you are now reading, you should also check out David Greene's book Long_Distance Real Estate investing: https://store.biggerpockets.co...

Good luck on the journey and stay safe!