Anyone who is doing long distance investing?

Foreigners Buying in the USA
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Anyone who is doing long distance investing?

Jasraj Singh
Member since 2020 · 295 posts · 56 votes

Is there anyone who is doing long distance investing? investing out of there country or state? Cause I want to know what measures do I have to take before investing in another country or state.

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Asim Sheikh
Long Island, NY · Member since 2019 · 97 posts · 55 votes
6y

@Jasraj Singh - I recommend the book on "Long Distance Investing" by David Greene.  

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    6y

    @Jasraj Singh

    I invest in mortgage notes. Purchased over 300 and I have only seen one property myself.

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  • Michael Ohara
    Investor · HI · Member since 2017 · 328 posts · 124 votes
    6y
    Originally posted by @Lake Lutes:

    @Michael Ohara I am also located on Oahu and have been deciding between different out of state markets. Would love to hear more about how you chose Ohio and what your property management company offers you to make you feel good about an investment so far. Shoots!

    Right on! I'm on Oahu too.  We chose Cleveland because prices were low and we like what was happening in the city.  Amazon is building a distribution center.  Sherman-Williams is moving their HQ there, Cleveland Clinic is a huge industry. We flew to Cleveland and drove around and got a feel for the place.  Your management company should have a solid idea about market conditions, be responsive, and no playing around with evictions, because you will have to evict.  All the best. 

    3Reply
  • Michael Ohara
    Investor · HI · Member since 2017 · 328 posts · 124 votes
    6y
    Originally posted by @Jasraj Singh:
    Originally posted by @Michael Ohara:

    @Jasraj Singh I live in Hawaii and invest in Cleveland. We chose Cleveland because there are good deals and a strong rental market. Having a good team on the ground is critical.

     excellent! but could you tell me how did you find out that Cleveland is a strong rental market? like by visiting there or talking to agents? 

    Yes, I visited before I did anything.  Some don't like Cleveland for this reason or that, but at the end of the day, there are lots of renters there.  Yes, we spoke with agents and property managers.  All the best!

    0Reply
  • Trin Nagireddy
    Rental Property Investor · Cumming, GA · Member since 2017 · 66 posts · 15 votes
    6y

    @Rabih El-Khoury agree with you... always have boots on the ground.. apart from agent and property manger. Else partner with some one who will be your set of eye..

    1Reply
  • Kim Anderson
    Rental Property Investor · Gilbert, AZ · Member since 2017 · 12 posts · 10 votes
    6y

    I am a real estate broker in Arizona but I invest in 5 other states. We currently own 24 properties across those 5 states. I also manage all of them from Arizona. It is all about your team that you put in place (boots on the ground). I learned alot in 3 years and have it very dialed in now. Nothing is perfect, the reward of higher cash flow in these markets is worth it in my opinion. 

    1Reply
  • Mohammad Dawood Wajid
    Rental Property Investor · Member since 2020 · 17 posts · 4 votes
    6y

    @Jasraj Singh

    Paa jee I am in the same boat. I am also looking to invest in rental properties in the US real estate market mainly into multifamily and I am from Pakistan. I have lived in the US back in 2003.

    BP is an excellent platform to learn and educate ourselves. Moreover, I have found all the experienced and professionals here do help.

    0Reply
  • Mohammad Dawood Wajid
    Rental Property Investor · Member since 2020 · 17 posts · 4 votes
    6y

    @Felipe Lois Affini

    Brother Felipe, your 5 points are very important for new investors like myself. If you don't mind can you please share with us why did you specifically choose Texas? I see most of the foreign nationals choose TX, Florida, Atlanta, GA for their residential /multifamily properties. What type of investments did you choose in Texas and what were the numbers?

    I am sure we all can benefit from your experiences and at some stage we can collaborate together.

    0Reply
  • Jasraj Singh
    OP
    Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Lucia Rushton:

    @Jasraj Singh. It depends on what investment you want to make - do you want to purchase your own SFH or do you want to invest in a syndication ?

    I have plenty of out of state investors. They have decided on texas and then Dallas first. I help them along the way. I am their boots on the ground. But they still run the numbers and come to the closing table.

    Syndication is a whole different animal and can add to your portfolio and let you get comfortable with investing in Real estate. Different lingo but still either investment can be advantageous.

    Alright! okay but I want to to purchase a SFH? do you have any suggestions?

    0Reply
  • Jasraj Singh
    OP
    Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Felipe Lois Affini:
    Originally posted by @Jasraj Singh:
    Originally posted by @Felipe Lois Affini:

    @Jasraj Singh,

    I am from Brazil and investing in the US (Texas). I recommend you follow some steps:

    1) research where and in what type of property you want to invest;

    2) run the numbers on a few properties that match your criteria;

    3) talk to people (other investors, realtors, contractors) in that area to understand better the market;

    4) fly there at least one time to drive, visit properties, etc;

    5) Invest.

    Even with all precautions, you can still have problems with rehab/tenants, etc. But this is part of investing in real estate.

    It is possible and profitable to invest in another state/country.  

    Do your homework and go for it!

    Let me know if I can help in any way.

    Absolutely! thanks a lot this is very helping! when you went to Texas did you apply for a job there first to build some credits?

    I didnt. I Live in Brazil (not in the US) and fly there often to check a property that I have and to attend tax auctions. The way I used (as a foreign) to build credit was to buy a prepaid credit card (basically they hold $500 from my checking account and gave me $500 in credit. Then you start to use as a regular credit card and pay it monthy). If you could I seggest you do that as soon as possible.   

    okay! Are you an American citizen cause I'm from india and for that I need citizenship first?

    0Reply
  • Jasraj Singh
    OP
    Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Ben Halabi:
    Originally posted by @Jasraj Singh:

    Is there anyone who is doing long distance investing? investing out of there country or state? Cause I want to know what measures do I have to take before investing in another country or state.

     The first thing you wanna do is find a good property management that you can trust. They will be able to help you out the most. Also try to reach out to people in the area you are looking to invest in and build a good relationship with them. They can be a great help for you in the future.

    Alright! thanks a lot for your advice! 

    0Reply
  • Jasraj Singh
    OP
    Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Susan Tan:

    @Jasraj Singh I highly recommend visiting or temporarily living in the area you want to invest in. I also highly recommend the Midwest as a good starting point of your in-person traveling in USA because many properties in Midwest meet the 1% rule: the total monthly rent is at least 1% of total purchase price + total rehab price. Google street view does not tell the whole picture of a neighborhood, so please refer to researching online all the safety maps, population demographics, median income, median sales, and all the info about a neighborhood.

    Please read David Greene's book Long distance investing and then come back to this forum for more questions.

    Definitely

    thank you!  but don't you think I should start with flipping?

    0Reply
  • Mark AinleyBusiness Member
    Property Manager · Roselle, IL (Chicago Suburb) · Member since 2013 · 2k+ posts · 1k+ votes
    6y

    @Jasraj Singh Flipping vs buy and hold is a whole different system you need to have in place and frankly a more difficult one mostly because you are up against timelines and dealing with contractors.

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  • Jasraj Singh
    OP
    Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Kendal Lamb:

    We are looking to invest 4 hours from where we live and we plan to manage everything ourselves. Any further than that I would defiantly be paying someone to manage my properties for me. I would take great precautions making sure whoever you choose to partner with has the same mindset and goals you do for your properties. Good Luck!

     Absolutely! thanks a lot for your advice!

    0Reply
  • Jasraj Singh
    OP
    Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Bob Anthes:

    @Jasraj Singh. Build a team ( contractors, PM etc) where your looking to invest. Join the local REIA. Read there are many resources available on the subject. BP is a great place to start.

     Right! Okay! 

    thanks man!

    0Reply
  • Jasraj Singh
    OP
    Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Dan Travieso:

    I own properties in different states and cities. First thing I did was find a real estate agent who works well with investors. BiggerPockets helped me find some and networking/ referrals also helped. Once I found an agent I was very specific with what I wanted, ie. type of neighborhoods, type of property, and what I wanted to do with it (rental). I then asked the agents for their recommendation for property managers and lenders. Basically I started building my team as the agents went to work. 

    I know some folks say that with today's technology a property manager isn't necessary. Perhaps I am old school but I want someone to have boots on the ground who will watch over my asset. Also, I believe customer service is key to reducing tenant turnover. It is hard to match face-to-face customer service from a long distance. In my opinion the property managers fee is worth it.

    Got it! thanks man!

    appreciate it

    0Reply
  • Jasraj Singh
    OP
    Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Chris Seveney:

    @Jasraj Singh

    I invest in mortgage notes. Purchased over 300 and I have only seen one property myself.

    great! how does it work? 

    1Reply
  • Jasraj Singh
    OP
    Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Michael Ohara:
    Originally posted by @Jasraj Singh:
    Originally posted by @Michael Ohara:

    @Jasraj Singh I live in Hawaii and invest in Cleveland. We chose Cleveland because there are good deals and a strong rental market. Having a good team on the ground is critical.

     excellent! but could you tell me how did you find out that Cleveland is a strong rental market? like by visiting there or talking to agents? 

    Yes, I visited before I did anything.  Some don't like Cleveland for this reason or that, but at the end of the day, there are lots of renters there.  Yes, we spoke with agents and property managers.  All the best!

    Alright! thanks man so you suggest me to visit and then think about investing there cause I'm confused how can I choose a market to invest in here?

    0Reply
  • Jasraj Singh
    OP
    Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Kim Anderson:

    I am a real estate broker in Arizona but I invest in 5 other states. We currently own 24 properties across those 5 states. I also manage all of them from Arizona. It is all about your team that you put in place (boots on the ground). I learned alot in 3 years and have it very dialed in now. Nothing is perfect, the reward of higher cash flow in these markets is worth it in my opinion. 

     brilliant! but can you tell me how do you find out that a particular market or a place has a higher or lower cash flow?

    0Reply
  • Jasraj Singh
    OP
    Member since 2020 · 295 posts · 56 votes
    6y
    Originally posted by @Mohammad Dawood Wajid:

    @Jasraj Singh

    Paa jee I am in the same boat. I am also looking to invest in rental properties in the US real estate market mainly into multifamily and I am from Pakistan. I have lived in the US back in 2003.

    BP is an excellent platform to learn and educate ourselves. Moreover, I have found all the experienced and professionals here do help.

     great! Can you tell me how did you find all the professionals there to help and your experience about getting there and how long did It take for you to get citizenship there?

    0Reply
  • Mohammad Dawood Wajid
    Rental Property Investor · Member since 2020 · 17 posts · 4 votes
    6y

    @Jim Chuong can you pls Share with us why did you choose Memphis and Phoenix for your investments? And what numbers did you get?

    This will help us (all non-resident foreigners looking to invest in rental properties in the US) understand what to look for while selecting main investment market and respective sub-markets.

    Thank you.

    0Reply
  • Lucia Rushton
    Realtor · Dallas - Fort Worth Metroplex, TX · Member since 2016 · 1k+ posts · 925 votes
    6y

    @Jasraj Singh  Your best bet is to talk to someone fully qualified in the mortgage industry like @Andrew Postell

    0Reply
  • Mohammad Dawood Wajid
    Rental Property Investor · Member since 2020 · 17 posts · 4 votes
    6y

    @Susan Tan can you please share your experiences about investing in Ohio? I will appreciate if you can advise us what made you invest in Ohio and now you are expanding to further cities within Ohio... How is the experience and what can you advise?

    Thank you.

    2Reply
  • Mohammad Dawood Wajid
    Rental Property Investor · Member since 2020 · 17 posts · 4 votes
    6y

    @Kim Anderson

    What 5 states have you invested in and which asset class?

    Thank you.

    0Reply
  • Eddy Wehbe
    Rental Property Investor · Boca Raton, FL · Member since 2019 · 38 posts · 15 votes
    6y

    @Jasraj Singh - Having a plan on what do you want to invest in is critical. I am in South Florida and therefore the market is very different from a Texas market. I would say set your goals first in what do you want to invest in:

    - STR, Buy and Hold, Flip, LTR, Multi-family properties, Section 8. etc.

    - then, have a local Realtor or Sales Broker who knows how to navigate this market

    - Savvy relator can put you in touch with Lenders if you don't have one already

    - let the fun begins

    I am an investor my self and my wife is a sales broker here in South Florida in case you need any help. 

    1Reply
  • Ryan Ross
    Real Estate Agent · NJ · Member since 2020 · 46 posts · 7 votes
    6y
    Originally posted by @Felipe Lois Affini:

    @Jasraj Singh,

    I am from Brazil and investing in the US (Texas). I recommend you follow some steps:

    1) research where and in what type of property you want to invest;

    2) run the numbers on a few properties that match your criteria;

    3) talk to people (other investors, realtors, contractors) in that area to understand better the market;

    4) fly there at least one time to drive, visit properties, etc;

    5) Invest.

    Even with all precautions, you can still have problems with rehab/tenants, etc. But this is part of investing in real estate.

    It is possible and profitable to invest in another state/country.  

    Do your homework and go for it!
    Let me know if I can help in any way.

    How much is too much detail when defining investment property criteria? 

    Thanks!

    0Reply
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