I discovered real estate investing around a year ago, as part of a larger journey learning about financial independence. I consume loads of information now: podcasts, books, blogs. However, I haven't bought a rental property yet. I live in the UK, and I've been looking for properties here as well as on Prince Edward Island (PEI - where my family is from). I have literally never seen a property that would satisfy the 1% rule, and costs seem to be higher here (no or reduced beneficial mortgage treatment, 10-12% management costs). I'm not sure what to do. When I'm visiting PEI this summer, I plan on driving for dollars with my brothers, who got into property earlier before the market picked up. But it's not a large market (c. 70 property transactions all year) and incredibly tight right now (less than 1% vacancy rate), so very difficult to find sellers who are motivated to take a discount. Is the American market unique in having areas with relatively low capital costs but high rents? Any advice on where or how I should be looking? Do I just need to cowboy up and look harder?
OK. I can look into that. Is investing into the States much more complicated than investing out of state? I'm reading Long Distance Real Estate Investing, so hopefully that will give me most of the knowledge I need to cover investing into the States as a non-American.
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