My first investment in the U.S rental property

5 Replies

hello BP,

I'm thinking about moving to the U.S and continuing my Real Estate journey. I currently have 4 multi-home property in Georgetown Guyana.

Any advice would be very much appreciated, I haven't fully decided in a state in which i wanna start. 

My thinking single family homes in Florida. 

Originally posted by @Kevin Jettoo :

hello BP,

I'm thinking about moving to the U.S and continuing my Real Estate journey. I currently have 4 multi-home property in Georgetown Guyana.

Any advice would be very much appreciated, I haven't fully decided in a state in which i wanna start. 

My thinking single family homes in Florida. 

 Hi Kevin,

Welcome to Bigger Pockets, there's so much for you to have here more than a warm welcome!

Welcome to the United States also whenever your decision is made.

To your question: There are several good markets but the biggest cities with the highest and dense populations like Miami, New York, Los Angeles are low return on investment areas. Some of these areas even set a cap on the amount of rent you can charge.

The properties in these areas as you can imagine are high priced making it tougher than other places to enter the market (depending on your financial resources).

I'm in Jacksonville, (Florida) which is the biggest city in the USA but with a major difference. It's spread out and not as populated per square mile as the other cities mentioned above.

I'll give you a few examples here. You can purchase a property for $40/$50k and rent out for $750/$850/$1,000 per month depending on certain features or area. It's always a growing city. I suggest you check the growth rate online.

Jacksonville is a military town so there's always a recurring set of renters from that source. The city and surrounding areas are also a central location for major corporations. Jacksonville is where Florida starts so it's ideally used by these mega corporations as a distribution center for parts of the southeastern USA.

I hope yours has been a helpful insight for you!

@Kevin Jettoo

Welcome to the vibrant BP community, where you will find like minded individuals committed to REI and also helping others succeed.

Your time on this social media site will be well spent.

You have taken the 1st step by announcing your readiness and commitment to embark on a REI career.

Whether you pursue, wholesale, rehab & fIip or buy and hold it's up to you to decide.

While you ponder where to settle in the USA, I added the below links for your review of the are of REI that you would like to focus on.

https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)

http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)

http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)

The bottom line is that you must take action to start.

Don't get bogged down with analysis paralysis. You must take risks, but, ensure that they are calculated risks.

Below are some links to get you started.

https://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)

https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)

REI books suggested by BPers

https://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)

http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)

Before making your 1st REI purchase please visit the link below for some useful tips

https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/

Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.

Feast on the Podcasts, #askbp Podcasts, blogs and webinars

Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

Hey lee, 

Thank you, much appreciation.

You've really brighten things when it comes to populated areas. I'll look at the growth rate and other information towards that. Your example was on point. I have some time before I make my move, maybe a few months. I still have to check with some banks to see my leverage options. I'm happy to begin my new journey with such a great community. You've definitely helped me. 

Best Regards

Kevin Jettoo 

Originally posted by @Kevin Jettoo :

hello BP,

I'm thinking about moving to the U.S and continuing my Real Estate journey. I currently have 4 multi-home property in Georgetown Guyana.

Any advice would be very much appreciated, I haven't fully decided in a state in which i wanna start. 

My thinking single family homes in Florida. 

 In my humble, but totally biased opinion, Florida is a GREAT place to start investing in the United States.  Are you thinking about another multi-family property? Have you considered other countries besides the US, but perhaps in the neighborhood- e.g. Costa Rica, Nicaragua, or the islands?

hello @Paul Strauss

I haven't gotten this replying thing down not sure if this is how it's done on this forum. 

You see the thing is I'm 21 years old so I haven't really considered anywhere besides the U.S since that's where I've been traveling to and from. Maybe when I get a property of my own in the U.S I'll look in that direction but for now it's just the U.S. I've been to FL a few times so i have a better knowledge of that state.