Newbie investor living in Singapore

26 Replies

Hi everyone! I am an American living and working in Singapore and surrounding countries in South East Asia for over 5 years. I bought my first two SFH properties outside of Cleveland 2 years ago and I recently added a multi-family in Chicago to my portfolio.

I am definitely still learning the ropes and making good mistakes as I go. I've really been enjoying the podcasts, books and discussions on BP and learn something new every time I log in!

I've done all my deals 100% remotely (including signing loan documents at the U.S. Embassy!), so relationships are critical for me to be successful. I am looking to build some connections on BP with other like-minded investors. I am actively looking for my next deal and would be great to hear from people what markets they are investing in at the moment.

@Lisa Donaldson Welcome to the BP forums! Great to hear how you are actively building your portfolio - I'm based just outside Chicago, probably not too far from your multi-family. :)

Which type of investing strategy are you using? Planning to do more SFH or multi-families?

Fascinating that you do your deals 100% remotely! I'm planning to invest in Northwest Indiana (my backyard) because it's a market I understand and am finding good opportunities. In the process of getting my real estate license here, as well. 

Originally posted by @Lisa Donaldson :

Hi everyone! I am an American living and working in Singapore and surrounding countries in South East Asia for over 5 years. I bought my first two SFH properties outside of Cleveland 2 years ago and I recently added a multi-family in Chicago to my portfolio.

I am definitely still learning the ropes and making good mistakes as I go. I've really been enjoying the podcasts, books and discussions on BP and learn something new every time I log in!

I've done all my deals 100% remotely (including signing loan documents at the U.S. Embassy!), so relationships are critical for me to be successful. I am looking to build some connections on BP with other like-minded investors. I am actively looking for my next deal and would be great to hear from people what markets they are investing in at the moment.

 Hi Lisa.  I am an investor in the city of Chicago.   Doing deals from the other side of the World is impressive!  Where is your property located in Chicago?   Where are you looking for your next deal?  

Hi @Mindi Rosser - I wish I had a backyard I could invest in! My biggest issue is that I don't have that local market knowledge of which neighborhoods are good/bad, so I am really relying on my realtor there (who I also have never met!)  

I like multi-families at the moment, I think there's better efficiencies and reduced risk. Are you finding any good ones in NW IN?! I'd be keen to explore how we might be able to work together once you get your real estate license! Let me know!?

Lisa Donaldson 

@Lisa Donaldson amazing job buying properties in the other side of the globe! I am a bay area investor and planning to buy properties out of state primarily in Indinapolis  due to the high price of the properties in my back yard, I have a rental in Elk Grove partnered with family and cash flow wasn't great. Happy to connect 

Originally posted by @Lisa Donaldson :

@Jeff Burdick Thanks! I am keeping an eye on what's coming up in West Chicago, Humbolt Park, etc... but definitely open to other cities and states as well. Where are your deals?

 No problem.  My properties are in Irving Park and Edgewater but i research the entire city in depth.  PM me if you'd like to discuss further.  

@Lisa Donaldson Very impressive investing in real estate from such a long distance. Curious what part of Chicago you selected for your multi family investment? Are you happy with the results?

@Lisa Donaldson Definitely! I sent along a connection request, so we can keep in touch. There are some solid multifamilies in NWI, but it's knowing where to look (understanding neighborhoods and such) and also whom you know. I'm on track to get my license by mid-July, if not sooner. 

@Lisa Donaldson Sounds like you are living the dream! I'm also a big fan of Humboldt park and just bought a 4-flat there with a friend. We live in two of the units and rent out the other two. I think there's still a lot of appreciation potential in pockets off the Brown, Blue, and even Red Line but definitely need to be familiar with rental rates. 

Selamat Datang Lisa. Another American in Singapore here.

Was in the embassy signing on my last SFH purchase (in Washington State) as well. Good times. Next purchase I want to try to convince the bank & escrow company to accept a Singaporean Notary stamp. Requirements are the same but the notary will come to you!

Hey Lisa,

Signing from the US Embassy is great! Take a look into the Spokane market, I would be more than happy to skype or chat with you about your options in this area. I am a licensed real estate broker and I help many investors all around the world locate, purchase and find occupants. Would love to chat.

@Lisa Donaldson

I'm also based in Singapore. Currently trying to close on a property in Atlanta. I'd like to know more about signing loan docs at the embassy. Does this avoid the need for a POA?

Keen for coffee?

Thanks

Luke

@Luke Hadden You must have figured out your situation since it was a few months ago, but for sake of others reading the post, you still require the embassy visit to notarize the POA. However, there are more more lenders allowing online notarizations, so hopefully soon enough the days of embassy trips to close escrow are over.

@Luke Hadden for clarity, you would unlikely use the embassy to notarize all of your closing docs since it costs $50 per notarized signature. It's more efficient to spend $50-100 to notarize the POA and have your delegate sign all the closing docs state-side.

@Lisa Donaldson we coincidentally may have crossed paths at the embassy with the same notary signing docs for a Chicago close. I’m one stop away from you on the N-S line, and still actively investing in Chicago and the Bay. I have some good resources in Chicago if you need any referrals.

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