Buy or rent my first home in US ?

5 Replies

Hello everyone.

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". 

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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