Updated about 9 years ago on . Most recent reply
Investing Out of State or Country
Hello BP , in your opinion as a successful investor would it be harder to start investing in the US when I'm from Toronto, Canada? Im in a mentorship program that i paid a lot of money 40k US. they have been teaching me to invest in america as a foreign investor? A lot of posts i see on BP of newbies asking what market to invest in and most people say the one you can drive too. Am I at a disadvantage? My mentor uses agents and pm companies to help do a basic DD after its under contract and using people on the ground that we build as part of our "team" to help up with those tasks.
Most Popular Reply
Ouch ... so that $40k is sunk cost, gone, lost, kiss it good by. Sorry to be harsh, but that's the truth. Don't go throwing good money after bad now by investing out of country when there is plenty of money to be made in your own back yard. Instead, I'd focus on finding and attending local REI meetups. There you can likely find local experienced RE investors making good returns in your home market. Talk to them, find out what they are doing, what is working, and what isn't. Better yet, find a way to add value to what they are doing and they will likely mentor you free of charge, in exchange for a bit of your time and sweat in helping them.