I'm a divorced Brazilian mom that loves to work. Especially if that includes money and design, I get really excited.
On January 12th, me and my son will be moving to US for stay a while with my sister and, invest in real estate. I don’t know about laws and taxes for a foreign investor but, besides that I feel totally ready to begin.
The money I pretend to use is from one of my three properties that are for sale here in Sao Paulo-Brazil. I have other apartment rented and a hotel room in construction.
I need to learn all about this market and I don’t have a lot of money but, I would like to be active as soon as possible.
So, that is my question?
Should I rent a house to live with my son when I get there or, should I buy my first deal?
In your case I would absolutely rent before you buy anything. Renting the wrong place costs you a month or two of rent to break the lease, or a little aggravation while you live out the lease. Buying the wrong place can wreck you economically. I assume you don't know a lot about the US real estate market overall or much locally where you are settling, so renting will give you a chance to feel out the community.
Either way, welcome to the US! PS: You said "The money you pretend to use" :D I assume you meant "The money you intend to use".
Welcome to the site.
I think it's best to own your primary residence 1st. Set up a solid foundation then worry about secondary properties after that.
I vote in the favor of buying your own property first. Set up some stability in your life here in the US, then continue with your business aspect.
I'really sorry about my bad english when I said: the money I pretend to use instead of the money I intend to use.
It’s true. I agree with JD Martin. I don’t know anything about this market. I could make a big mistake and finish something even started, but, I don’t like to pay rent and confess to be afraid to assume high numbers right now.
With knowledge I will do better deals.
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