Calling All NON-US BiggerPockets Investors - Share Your Success!
Broomfield, CO · Member since 2016 · 1 post · 9 votes
Calling All NON-US BiggerPockets Investors - Share Your Success!
Most Popular Reply
Investor · Suwanee, GA · Member since 2014 · 579 posts · 347 votes
9yI lived in South Korea for over 20 years.
Thanks to BiggerPockets, I met other investors who happen to live in Korea and we started a meetup in Seoul. We've grown that meetup to over 1,000 members, in part thanks to great BP members who appeared virtually as guests:
BP also lead to my meeting investing partners in Jacksonville, Florida, and I was able to make my first investment while living in Seoul, Korea. (I documented much of that process here on BP through a members blog to help others looking to do the same)
Through the local meetup we started, I was also able to connect with others and that eventually lead to my becoming Director of Acquisitions for a Mobile Home Park focused private equity group.
It's been a quite a journey and it all started because of BiggerPockets. Without the forum and the chance to start asking questions and meeting other like-minded people, I'm not sure my desire to become a real estate investor would have ever evolved past reading books and online blog posts.
If anyone new to real estate investing reads this post, know this - it doesn't matter where you're living or where you're starting from. I knew nothing about real estate when I started and I was living in Korea but wanting to invest in the US. It really sounded crazy to most people, and even to myself!
But thanks to BP and technology, I was able to accomplish a lot in a relatively short amount of time.
Stay focused on your next goal and the obstacle you need to overcome to reach that goal! Between BP and Google, you'll undoubtedly find the solution ^^
40 Replies
- 9yHadar OrkibiPro MemberRental Property Investor · USA / NZ · Member since 2016 · 1k+ posts · 812 votes
Hey @Jarrod Jemison,
I been member on the form for about a year and podcast listener for about 2.5 year (listen to all of them and some even more then once), mmm what could I say and where should I start.
Although i been investing in New Zealand RE for over a decade i found Bigger pockets to be a key part of my US success to date.
Specially bridging the knowledge gap of new lingo and processes and foreigner business practices.
The ability to search the forum and read information on specific topic, ask specific questions and receive number of genuine answer is invaluable!
Not to mention the friendships and business relationships i formed thanks to BP.
I found that often in RE is about who you know and not what you know, especially when it comes to off market deals and referrals.
I started networking and engaging on BP while in NZ, that lead to my first US purchase of 4plex and Arkansas within the first year. 8 months down the track and through BP i now have network of professionals including, Property manager, Lenders, Accountant, Attorney, Realtors, Contractors, and other investors.
I don't know if you can call this success story, but for me its only the start of a journey I'm excited and looking forward to pursue. my goals are to build a reasonable size cash-flow portfolio in the US and Syndicate large multi family building in due course.
I'm just about to start Marketing in the US and expending the team with a Man on the ground, fellow investor from NZ who is moving to the US to keep the momentum going.
- Investor · Daejeon, Jeollabuk-do · Member since 2017 · 12 posts · 10 votes9y
Although I am an American citizen, I have lived in South Korea for the last fifteen years and have done most of my investing while living abroad. Since January of last year, I have purchased seven SFH's through a turnkey agency and I hope to max-out my allotment of 10 Fannie Mae mortgages by the end of next year. I am in the process of closing on a co-op I bought in Queens, New York back in 1999 for $280K; I had bought it for $70K. I have been renting out the property for the last fifteen years while living in Korea and decided now was a good time to sell. I plan on doing a 1031 exchange from the sale to buy some more turnkeys in the Midwest.
I think if you are living abroad it really isn't much different from investing out-of-state for those folks that are US-based. The only challenges are getting documents notarized ($50 a signature and they can only be done at the embassy in Seoul) and communication issues do to the vast time zone differences.
- Investor · Kusatsu, Shiga · Member since 2015 · 147 posts · 87 votes9y
Hi,
I live and work in Japan. I own 8 rental properties back in the US - 6 of them are turn-key. I am currently looking to buy a multi-family property here in Japan and also working on maxing out my Fannie/Freddie loans in the US.
I face a lot of the same challenges as Wade.
- Germantown, TN · Member since 2016 · 25 posts · 5 votes9yAnother Expat here, Hong Kong. I own two SFR's in Memphis. One was our family home and we just recently closed on another this past June. I was turned on to BP by a coworker who also owns US investment property.
- Hi I'm Ashley. I have worked as a teacher in Japan, Korea and China for a total of 6 years. My husband and I invest back in the states. We have 11 single family homes and we are in listing our 2nd flip soon. Working abroad has helped me save a significant portion of my income (more than half can go directly into real estate investments).Taxes are much lower in Asia, free accommodations are provided and goods and services are often significantly less expensive compared to the U.S.
- Investor · Nelson, New Zealand · Member since 2016 · 11 posts · 3 votes9y
I'm from NZ but currently working in remote Australia (which can be a great strategy for saving to fund investing). I've been reading BP for about a year but only joined recently. I've recently bought townhouses in Atlanta because I always look for properties that cash flow positive, but also with good growth fundamentals. I've built a small passive income doing this at home and it means I don't need a full time job, YAY!!! Following on from my first purchases I have plans to expand elsewhere in the US and find more cash flow, if I can access finance. So I'm a newbie here but I've made a start at least.
I've found some very warm and welcoming people on BP who openly share what they know, and their contacts. The podcasts are an amazing resource. I've been able to start researching a seemingly endless amount of new markets that I couldn't have had exposure to if I'd stayed in my own country. I've got much more exposure to people that I could potentially work with to build my wealth and theirs.
Even though I'm new I've been inspired by the welcome I've found here to be that kind of investor that puts the time into helping others when I can.
- Specialist · Indianapolis, IN · Member since 2016 · 841 posts · 480 votes9y
I talk to alot of remote investors and one of the common themes is - they feel they need "boots on the ground". Most of them are looking for someone to walk properties, provide scopes for rehab numbers, wave them off of bad deals, and get help with finding all of the local contacts needed to make a deal happen. It also seems to use technology to its fullest extent to gather info, communicate, document, and overall - understand what is happening with your property or project.
Congrats on all of your success!
- Investor · San Clemente, CA · Member since 2016 · 14 posts · 10 votes9y
While stationed overseas in the US Military, I began to read bigger pockets and educate myself about real estate. While overseas, I built a real estate team in Georgia, a place I have never been, and I acquired my first house that cash flows at a rate of 26% cash on cash return. Thanks bigger pockets!
- Vale, NC · Member since 2017 · 18 posts · 3 votes9yI have the same name as the guy above pretty cool!
- Investor · Suwanee, GA · Member since 2014 · 579 posts · 347 votes9y
I lived in South Korea for over 20 years.
Thanks to BiggerPockets, I met other investors who happen to live in Korea and we started a meetup in Seoul. We've grown that meetup to over 1,000 members, in part thanks to great BP members who appeared virtually as guests:
BP also lead to my meeting investing partners in Jacksonville, Florida, and I was able to make my first investment while living in Seoul, Korea. (I documented much of that process here on BP through a members blog to help others looking to do the same)
Through the local meetup we started, I was also able to connect with others and that eventually lead to my becoming Director of Acquisitions for a Mobile Home Park focused private equity group.
It's been a quite a journey and it all started because of BiggerPockets. Without the forum and the chance to start asking questions and meeting other like-minded people, I'm not sure my desire to become a real estate investor would have ever evolved past reading books and online blog posts.
If anyone new to real estate investing reads this post, know this - it doesn't matter where you're living or where you're starting from. I knew nothing about real estate when I started and I was living in Korea but wanting to invest in the US. It really sounded crazy to most people, and even to myself!
But thanks to BP and technology, I was able to accomplish a lot in a relatively short amount of time.
Stay focused on your next goal and the obstacle you need to overcome to reach that goal! Between BP and Google, you'll undoubtedly find the solution ^^
- Investor · Daejeon, Jeollabuk-do · Member since 2017 · 12 posts · 10 votes9y
Hi Daniel,
Do you know how I could get in contact with the investors' group in Seoul?
Thanks,
Wade - 9yJohn Van UytvenPro MemberProperty Manager · Oconee, IL · Member since 2014 · 536 posts · 202 votes
@Daniel Ryu it is crazy to think how things changed from 3 of us sitting in a coffee shop. Throwing the idea out there, hey let's put this on Meetup. Maybe we could 3 whole more people to come and make our group an outstanding group of 6 people. Which is even more hilarious considering how far the group has come along. How we undersold the idea and thought not many people in Korea would be interested in learning about REI.
Without Bigger Pockets I would have never found the courage to start investing from South Korea.
I found my first and second deal on Facebook.
I bought a house that had a fire
I bought the house and extra lot next to it for $5K.Sold them both on contract to 2 different people
I sold the lot for $4K.
I sold the house for $12K.
I got the house back, ended up selling it for $4,000.
Not as much profit as I hoped.
Second deal was a mobile home that I bought for $4,000 and sold for $5,000.
Both of these I bought after finding them for sale on my hometown local items for sale facebook page
The third deal I bought was a townhouse in my university town, that I bought from one friend. Which we rent to our friends for $750, who have been amazing tenants. We rolled $5K of his equity into our partnership.
I have an LLC with 5 others. Where I hold 50% of the company, and they each own 10%.
Three of those partners I met in Korea.
I just put a 2 Bed 1 Bath house under contract for $42K, conservative ARV $60K.This home has been owned by the same couple since 1955. The home is in great condition. I only have minor repairs to make.
I already have a tenant lined up to move in.
I know without Bigger Pockets, I would be lacking a lot of knowledge. Bigger Pockets also inspired me to grow my assets and expand within the realm of real estate. I never knew about investing in Notes, or lending private money.Because Bigger Pockets has added so much value to my life, I became a Pro member 2 years ago, and I am happy I did.
- 9yJohn Van UytvenPro MemberProperty Manager · Oconee, IL · Member since 2014 · 536 posts · 202 votes
You can find the group on Meetup.com
I hope you are able to make it, and enjoy the meeting.
- 9yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Jarrod Jemison:
Calling all foreign investors! How has BiggerPockets helped you grow your business?
We know we have a small but growing community of non-US investors from countries like Australia, The United Kingdom (UK or England, Ireland, Wales, or Scotland), New Zealand, and European countries. While we'd love to hear from our Canadian friends to the north, we are really looking for success form other continents around the world.
Your success story may be featured on a little video we are putting together to show off BiggerPockets, so please let us know!
Obviously, that list is not exclusive - we'd love ANY success stories around the world, those countries just happen to have the most users after the US.
You rock!
Bigger Pockets has been a great resource to me and my company with "putting us on the map"
I love open forums as if you do the tight thing, people talk about it.
If you do the wrong thing, people talk about that also.
So if you make sure that your ethics are in check and you work with integrity.
The Bigger Pockets audience will reward you.
I think my story is pretty cool having posted on Bigger Pockets for the first time over 4 years ago - https://www.biggerpockets.com/forums/55/topics/987...
And fast forward to this day, I've done over 400 deals, run multiple companies and still going very strong.
Thanks
- Investor · Suwanee, GA · Member since 2014 · 579 posts · 347 votes9y
In the past when I post the name, BP removes the thread. You can PM me tho if you can't find us.
I love hearing about all of you "living abroad" and investing in the US ! We did wholesaling in the Kansas City, MO market from our home state of UT for a couple of years and learned that you really CAN make it work remotely ! We loved that experience- it's how learned to be "hands off" even with our buy and hold properties here locally ! Now living abroad might just be our next goal ! I have listened to Tim Ferris talk about living abroad in his book, The 4-Hour work week and always been intrigued by it. Would love to chat with any of you and learn more !
- I'm from Canada and invest there, (bought 1 SFH the last 3 years in a row & converted them to duplexes), but I do it all from Morocco! Never miss a podcast & enjoy the blogs & forums too. If there's a meet up in Seoul, maybe I should start one in Casablanca!?
- 9yJohn Van UytvenPro MemberProperty Manager · Oconee, IL · Member since 2014 · 536 posts · 202 votes
- Investor · Denver, CO · Member since 2017 · 9 posts · 2 votes9y
My husband and I are living in Mexico City and have three properties in the States. The first two (a condo in Denver and a house in DC) we purchased to live in, then kept them as rentals, the third, a condo in Denver, we purchased as an investment property. We're now in the market for a turnkey multifamily unit anywhere in the US where we can find a good team to manage it and cash flow.
- Investor · Suwanee, GA · Member since 2014 · 579 posts · 347 votes9yRyan Kirk We started at 3... now have 1,200. We probably draw as many if not more members to events as established brands like the Urban Land Institute in Korea (we now are partnering with them to co-sponsor events). This is not to brag ^^ ... but I like telling folks because we could have never predicted our growth. If you look back thru some of my BP posts, you'll kinda see how it grew over time. (Meetup is great platform for reaching a local audience.) Good luck to any and all who want to start a local group. So many positives come from it including leadership development and access to great speakers. Feel free to PM me if you want more insights on how we grew our meetup. I think I have some content w our strategies.
- Investor · Sydney, Australia · Member since 2017 · 17 posts · 10 votes9y
This is exactly the conversation I have been looking for! I am originally from Kaysville, Utah. But I have been living in Australia on four separate occasions since 1999. This latest time around is likely to be more long-term to permanent. So I have been spending a lot of time on the BiggerPockets podcast, exploring ways I could keep my head in the game and still maintain my 9-5 from 8,500 miles away.
Right now I have two SFH's in Kaysville, and in fact in the same neighborhood, thankfully. The first home I bought in 2012, and the second just this last April when we were home for a visit. For anybody wondering, we bought house No. 1 while we were here. It's not impossible, depending on the country your in. Just a little more difficult. If you're non-military and off a base like I was, you need to first find out if the country you're in is a signatory of the Hague Apostille Member Countries. That way you'll be able to get your documents notarized. Otherwise, you'll need to pay a visit to the nearest U.S. Embassy or Consulate.
Anyways, back on topic. I am looking for ways to scale my RE business, while being here in the Land of Oz. I've done a cash-out refi on house No. 1 and now have $150K to put to work elsewhere. I am very keen on getting into the multifamily side of things. I'd love hear more on how the rest of you have been able to really scale things while being so far away. My goal is to get things to the stage where I can come back to the US and not have to work about getting a 9-5. Thoughts fellow Pocketeers?
- 9yKreighton ReedPro MemberSpecialist · Denver, CO · Member since 2016 · 45 posts · 59 votesWade Chilcoat try www.notarize.com they are only $25. We started accepting their notarizations for our clients out of state/country.
- Investor · Daejeon, Jeollabuk-do · Member since 2017 · 12 posts · 10 votes9y
Hi @KreightonReed,
I'm happy to hear that you all are starting to accept them. I hope the rest of the industry follows your lead. I tried using that particular service in the past, but they could only validate US driver's licenses at the time and not passports. I believe they have since then updated their software to accept US passports.
I used a similar service before for other types of documents without any problem, but it is the title companies that would often refuse to accept digital signatures. For some Indy property I was purchasing, I even called the county clerk's office in Indiana where the gentleman I spoke to confirmed that Indiana accepts e-notary signatures, but the title company still wouldn't budge.
This creates a big hurdle for us international investors as oftentimes the only solution is to use the notary at the US embassy, but you must schedule at least two weeks in advance, and they are only open during business hours (for $50/per signature nonetheless). For those of us that live on the other end of the country and have full-time jobs, this can be a logistical nightmare.
Some of my ex-pat friends here in Korea suggested that I try a local Korean notary, as several of them needed to have marriage documents and other such non-RE related matters notarized. The local notary wanted to charge me about $5,000 USD because their fee is based off a percentage of the property value....crazy!
My hope is that some of these title companies learn to embrace the 21st Century and start accepting e-notarized documents. In the meantime, an American notary could probably finance a "notary tour" of Asia charging $30/signature- still cheaper than the embassy.
- Flipper/Rehabber · Indianapolis, IN · Member since 2015 · 204 posts · 89 votes9yWade Chilcoat that's awesome! Would love to connect with you and learn more about your long term strategies.
One of the benefits of investing from overseas is that it FORCES you to value your time. I was visiting Canada this summer and dropped by one of our latest projects to check the progress...ended up making 2 trips to the hardware store, installing a blind, kitchen cabinet hardware, weeding the garden, mopping floors...I was there for hours! While it's great to get to know the contractor and to chip in with a mild amount of sweat equity - I can see how easy it would be to use a LOT of time on tasks that don't really affect the bottom line much.
Living abroad has forced me to rely on contractors & property managers, and to work ON the business, rather than just IN the business.
Join the conversationCreate a free account to reply, vote on answers and follow this thread.