Where to start- Unusual financial situation

1 Reply

Hello everyone , First , I would like to say hello. I’ve only been a member for a few days but I am already learning so much. I am new to Real Estate Investing and have no properties. ( Except a Class A motorhome, which is totally for sale if someone is interested) A little background on me. I currently work overseas on a 2 month out 1 month stateside rotation. This limits my options somewhat, but I am exploring long distance investing and team building. So I am not able to be physically presents most of the time. This is the downside. The upside is that while working overseas my income is tax-free. For every 3 month cycle, after expenses, I am left with 17,000. I was paying things down but all my expenses are low interest 4 percent. The problem I have run into. My company doesn’t provide a W-2 or 1099. I get a printed sheet that lists the numbers. I attempted to obtain normal financing and was unsuccessful. My questions are as follows. 1. What type of investing should I do? Rentals make the most sense but with HML being my only option I’m not sure if that’s a good idea. Flips are also difficult to do from out of state, although my brother in law was formerly an appraiser/inspector and is willing to be my “boots”. Or should I avoid the HML altogether and try to purchase cheaper properties with cash ? 10-30$ properties seem risky for long distance work. 2. Is HML a viable option for BRRR from out of country? I would be interested in speaking with any other overseas contractors that may be in the same situation I am. Thank you, I hope this is in the right place. Take Care Jonathan

Is there any chance in the near future for you to change work and achieve 2 years of W2 employment at home. Changing jobs may be a viable option if you want to shift seriously into investing.

Alternately I would be looking to partner with someone at home. If they can qualify for financing you can be the money. 50/50 partnership.

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