Foreign person taking a jump into real estate investment

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Foreign person taking a jump into real estate investment

Yannick Dos Santos
Accountant · Melbourne, Victoria · Member since 2017 · 10 posts · 11 votes

Hi everyone at the Biggerpockets community. I am proud to be now a member of this big family, reading stories and peoples experiences in property investments.

I have migrated to Australia from South America looking for adventures. But, after several years of hard work and stressed, I decided to take a jump into real estate market since I am aiming for freedom in my life. I have attended a couple of seminars and read a few books about investing, but I have no experience whatsoever as a investor. the market in Australia is currently in a gigantic bubble where it is a big difficult for investors to enter at this point. That is why, I am been looking at USA property market and it seems very attractive now specially in cities like Tampa, Jacksonville in Florida Dallas, Houston, Austin in Texas and some others located in Ohio. Since I will be considered as an overseas investor, my entry point shall be low in blue areas but looking for growing population as well as high rental demand.

I would really like some advice, help, opportunities and strategies that anybody can throw me since I don't know any realtors or lawyers, not to mention that I have not lived in any of those areas, but I am more than happy to take a plane and visit those places when I have a clearer idea of investment plans.

Thank you, I will really appreciate it.

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Most Popular Reply

Robin Cox
Rental Property Investor · Hamilton, OH · Member since 2016 · 31 posts · 30 votes
9y

Welcome to the BP community!! 

First piece of advice is listen to ALL the podcasts and attend Brandon's webinars. Then you may be able to come up with a strategy that interests you. SFR, Multi, Flip, Wholesaling, note, Turnkey, trailer parks, storage, college town, upscale, city or suburb???

You have cast a very broad net.  I was considering vacationing in Australia earlier this year and wanted to see the Great Barrier Reef, Sydney, the Penguins in the South and lots of other things in between and by the way I only had 10 days... What would you say to that?    Exactly.   It's a big continent!  Narrow it down.

Are you interested in C or D properties for 30K-50K? or better areas at 200K? or more? Do you want to do a little bit of rehab or a total gut? SFR's or Multi's? Do you know anyone over here?

I don't know what the deal is with oversees investors and I don't know what "blue areas" are.

Don't waste a plane trip if you don't know roughly what you want to do.  Be more specific and someone will probably jump in and offer advice to help narrow it down even more.  

Best of luck, Mate! :)

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  • Robin Cox
    Rental Property Investor · Hamilton, OH · Member since 2016 · 31 posts · 30 votes
    9y

    Welcome to the BP community!! 

    First piece of advice is listen to ALL the podcasts and attend Brandon's webinars. Then you may be able to come up with a strategy that interests you. SFR, Multi, Flip, Wholesaling, note, Turnkey, trailer parks, storage, college town, upscale, city or suburb???

    You have cast a very broad net.  I was considering vacationing in Australia earlier this year and wanted to see the Great Barrier Reef, Sydney, the Penguins in the South and lots of other things in between and by the way I only had 10 days... What would you say to that?    Exactly.   It's a big continent!  Narrow it down.

    Are you interested in C or D properties for 30K-50K? or better areas at 200K? or more? Do you want to do a little bit of rehab or a total gut? SFR's or Multi's? Do you know anyone over here?

    I don't know what the deal is with oversees investors and I don't know what "blue areas" are.

    Don't waste a plane trip if you don't know roughly what you want to do.  Be more specific and someone will probably jump in and offer advice to help narrow it down even more.  

    Best of luck, Mate! :)

    2Reply
  • Corey Clarkston
    Real Estate Agent · Jacksonville, FL · Member since 2017 · 71 posts · 23 votes
    9y

    @Yannick Dos Santos, feel free to reach out to me at anytime to discuss investing in Jacksonville. My firm has structured multiple deals for overseas investors and can do the same for you.

    Thanks! 

    0Reply
  • Suvir Salins
    Rental Property Investor · Wentworth Falls, NSW · Member since 2016 · 20 posts · 24 votes
    9y

    Hi Yannick,

    I'm from Sydney and have recently invested in the US. Congrats on joining BP! I found it an invaluable resource in my investing journey. I've learnt a lot over the last year which I'd be very happy to share with you.  Feel free to send me a colleague request and we can swap contact info to further the discussion.  Please see my review of the turnkey company I invested through to learn some more of my story.  I had a great first investing experience and continue to do so.  I was able to do it all remotely.  Look forward to chatting soon.

    https://www.biggerpockets.com/forums/92/topics/185...

    Kind regards, Suvir

    2Reply
  • Gay Lloyd
    Real Estate Investor · Ogden, UT · Member since 2014 · 160 posts · 81 votes
    9y

    Welcome to BP ! Good comments @Robin Cox.  It is amazing what can be done remotely these days with the internet and all.  We have experience doing wholesaling (assignment of contract) and also purchasing away from where we live.  Happy to connect and share what we can anytime.

    0Reply
  • Yannick Dos Santos
    OP
    Accountant · Melbourne, Victoria · Member since 2017 · 10 posts · 11 votes
    9y

    @Robin Cox

    Thank you so much for such an explicit explanation and details.

    Of course, I did not want to throw lots of information on my first message. It is clear that investment covers a wide range of options just as you mentioned before. 

    For starters, I was looking and hoping to find good deals between B and C properties around Texas, Ohio, Georgia and Florida with little TLC or ready to move in, single family house or duplex at the beginning working with a budget less than 100k, and then again, I don't know or haven't met any realtors or lawyers or financial advisors in any of those areas. I have established a good relation with a bank located downtown in Miami Florida since I opened an account years back and my father is an investor himself.

    I will certainly start watching those webinars here at biggerpockets to get more details, but I am more appreciated hearing peoples experiences and points of view about the areas I have mentioned above regarding population growth and cash flow properties in those places.

    I am really happy to hear your feedback and will be following for some more.

    0Reply
  • Yannick Dos Santos
    OP
    Accountant · Melbourne, Victoria · Member since 2017 · 10 posts · 11 votes
    9y

    Hi @Suvir Salins 

    Thanks heaps for your reply, and it made me very happy to know that there is somebody out here in Australia making dreams possible investing overseas. I will be reading your post/review a bit later after work since I am really interested to go ahead with my intentions of investment. Perhaps you could guide me through this path to make things a little bit easier since USA is (as you know) far miles away from here.

    I will absolutely write you as soon as I have a chance.

    Sincerely,

    Yannick

    0Reply
  • Yannick Dos Santos
    OP
    Accountant · Melbourne, Victoria · Member since 2017 · 10 posts · 11 votes
    9y

    @Gay Lloyd

    That is totally truth! Internet is a tool nowadays which makes things go around very easy and reach anywhere we like. I will be in touch very soon and thanks a lot for your welcoming!

    0Reply
  • Tom Ott
    Equity Raiser and Turnkey Provider · Cleveland, OH · Member since 2016 · 4k+ posts · 1k+ votes
    9y
    Originally posted by @Yannick Dos Santos:

    Hi everyone at the Biggerpockets community. I am proud to be now a member of this big family, reading stories and peoples experiences in property investments.

    I have migrated to Australia from South America looking for adventures. But, after several years of hard work and stressed, I decided to take a jump into real estate market since I am aiming for freedom in my life. I have attended a couple of seminars and read a few books about investing, but I have no experience whatsoever as a investor. the market in Australia is currently in a gigantic bubble where it is a big difficult for investors to enter at this point. That is why, I am been looking at USA property market and it seems very attractive now specially in cities like Tampa, Jacksonville in Florida Dallas, Houston, Austin in Texas and some others located in Ohio. Since I will be considered as an overseas investor, my entry point shall be low in blue areas but looking for growing population as well as high rental demand.

    I would really like some advice, help, opportunities and strategies that anybody can throw me since I don't know any realtors or lawyers, not to mention that I have not lived in any of those areas, but I am more than happy to take a plane and visit those places when I have a clearer idea of investment plans.

    Thank you, I will really appreciate it.

     Welcome to BP! Investing out of the country is possible. Just make sure you have a good team at your side!

    0Reply
  • Shane Odom
    Investor · Saint Peterburg, FL · Member since 2015 · 95 posts · 27 votes
    9y
    Welcome Yannick!! We're glad to have you as a part of the family. It's looks like you have some great ideas going for what you want to do. I'm local to the Tampa, Florida area, so if you have any questions feel free to reach out. Good luck!
    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    9y

    Welcome to the site @Yannick Dos Santos

    0Reply
  • Sunita Maharaj
    Real Estate Agent · St Petersburg Tampa, FL · Member since 2017 · 114 posts · 34 votes
    9y
    Welcome Yannick Dos Santos to the BP family. You will get a lot of information. Fortunately I am a realtor who specialize in investing and investment properties and the can help in all aspects of the business. I would be happy to answer any questions you may have but as mentioned previously, you have to be a bit more specific. Feel free to reach out
    0Reply
  • Ingrid J.
    Investor · Tromsø, Norway (Europe) · Member since 2015 · 431 posts · 194 votes
    9y

    @Yannick Dos Santos Welcome to BP Yannick! It's a great community with real opportunities.

    Here's the first thing I recommend you do: pick a place. Having been down the road you're currently on I highly recommend just selecting a city/place and sticking to it. If not, you're gonna be stuck researching everything on the surface, lost in macro economic reports and blog articles listing "the 10 best neighborhoods in X". Me and my boyfriend have selected Jacksonville to begin somewhere, and it made a huge difference. Now we are finally able to analyze the neighborhoods, see properties and get in touch with actual investors/companies/realtors in the area.

    Secondly, I would make sure that you are set up and ready to go, practically speaking. Many require a US bank account set up to wire the correct dollar amount when closing, so I'd look into that.

    1Reply
  • Vivek Khoche
    Investor · San Jose, CA · Member since 2017 · 343 posts · 102 votes
    9y

    @Yannick Dos Santos- Welcome to BP! Please search BP and request a book from @Jay Hinrichs, from http://turnkey-reviews.com/a-perfect-storm/.

    Good Luck

    Vivek

    1Reply
  • Lesley Resnick
    Real Estate Agent · Jacksonville, FL · Member since 2015 · 1k+ posts · 1k+ votes
    9y
    The internet has removed the issue of distance from RE investing.  It no longer matters if you are across the street or across the world.  The question to ask yourself is, "if you want to be in in the investor business or the landlord business."  If you are in the landlord business you should be boots on the ground.  I have a property less than an hour from my house and I have never been to visit it.  I found it on MLS and had my inspector assess the house and closed on it in June.  I have a modified arrangement with a property manager, who collects rent and finds tennants.

    Originally posted by @Ingrid J.:

    @Yannick Dos Santos Welcome to BP Yannick! It's a great community with real opportunities.

    Here's the first thing I recommend you do: pick a place. Having been down the road you're currently on I highly recommend just selecting a city/place and sticking to it. If not, you're gonna be stuck researching everything on the surface, lost in macro economic reports and blog articles listing "the 10 best neighborhoods in X". Me and my boyfriend have selected Jacksonville to begin somewhere, and it made a huge difference. Now we are finally able to analyze the neighborhoods, see properties and get in touch with actual investors/companies/realtors in the area.

    Secondly, I would make sure that you are set up and ready to go, practically speaking. Many require a US bank account set up to wire the correct dollar amount when closing, so I'd look into that.

    0Reply
  • Jordan Sinclair
    Investor · Adelaide, South Australia · Member since 2015 · 136 posts · 78 votes
    9y

    Welcome to BP @Yannick Dos Santos

    I invest in the US from Australia and wish you all the best on your investment journey.

    Cheers!

    0Reply
  • Lindsay Stewart
    Investor · Melbourne, Victoria · Member since 2015 · 203 posts · 58 votes
    9y

    Hi Yannick

    I am an Aussie and we do a lot of US investing, so it can definitely be done.  My best advice - get yourself a great team on the ground!  Need to allow for the time difference of course so you need to be a little more organized as things take a bit longer but its been quite a ride so far :)

    Best of luck and welcome to BP!  The best info is definitely here. 

    Cheers

    Lindsay

    0Reply
  • Yannick Dos Santos
    OP
    Accountant · Melbourne, Victoria · Member since 2017 · 10 posts · 11 votes
    9y
    Thank you everyone for taking the time to reply to my post. I do really appreciate all your answers and opinions and also to welcome me into BP's family members. I know I have disappeared for a while, but my full time job sometimes does not allowed me to surf in the internet. I have also been doing my due diligence in the market and soon will come up with good results thanks to BP network of members and heaps of information.
    0Reply
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