Managing Properties While Stationed Overseas

3 Replies

Hello All!

I am in the US Army and will be PCS'ing to South Korea in February for 3 years. My wife and I caught the real estate bug and want to buy our first investment property prior to our PCS. We are looking at buying in Arizona for multiple reasons but also because we fell in love with our real estate agent in Arizona. We have been doing our homework by reading bigger pockets books, listening to podcasts, speaking with other experienced investors, and scouring real estate websites. We are not looking to treat this as a hobby but rather a business so we will be building our "team" prior to investing. Our concern is being 16 hours ahead and being thousands of miles away while we are in Korea, and the property not being managed to our standards or things becoming too difficult from such a distance.

My question for the group is, does anyone have an experience with investing in this type of scenario or know anyone that has? What are your thoughts and suggestions on taking on this type of investment? Any other suggestions you have that will help us achieve our investment goals would highly appreciated!

@Hunter Niemiec , 1st of all, thank you for your service! 

Your concept of investment is solid and I think a great idea. Invest now and let someone else make your payments while you enjoy cash flow and appreciation.

I may be prejudiced on this one as a Property Manager but it's going to be challenging to effectively manage the property from that distance. Somethings breaks, an AC unit or a water heater or another emergency occurs. I have had Police, Fire, Utilities, etc and all kinds of others reach out on properties due to some emergency that required a quick response.

You also want someone to do walk thoughts, drive-bys, rent the property, collect rents, issue notices, secure the property, and on and on. Some of these are actual physical items that require going to the property.

Owning remotely with a great property manager is fine and rewarding! You can log into your online Portal and see the income and expense details at your leisure. 

If you could purchase as an owner occupant and then rent it's even better!

Hi Hunter.

Hiring a rockstar property manager would probably be the best way to keep your properties up and running, especially being so many time zones apart. Once your business scales up, I would suggest also hiring a virtual assistant (VA) that can get all of your tedious admin duties out of the way.

I am also embarking on the journey of investing from overseas, and I'd be happy to chat if you'd like.

All the best in your investing endeavors!

Natasha

Rookie Investor