All Forum Posts by: Alton D.

Bump.

Come on guys. Over 70 views but only one response. BTW thanks for the response nationwidepi.

Let's get some more points of view.

What do you all think about me renting an apartment in order to invest in other RE for cash flow?

I am finding that where I can afford to buy is not where I want to live; where I want to live, I cannot afford.

So, do I suck it up, buy a property in the area that I can afford and live in it?

OR

Do I rent where I wanna live and purchase another property that will cash flow ($100/month)?

*Note the rent where I want to live is cheaper ($95 less each month) than the cost to purchase the home where I don't want to live.*

I agree with you Rob A. It's tough to find RE for cash flow in NOVA. I looked at a couple foreclosures that were pretty beat up and would take a lot of money to fix. Unfortunately, the banks don't want to budge on the prices either.

Good luck though. I hope you find something soon.

Jon,

You can get a 2 BR condo here for about 65K. The rent on it would go for about $300, unless you get a foreign renter and the "gringo" price is about $1500/month.

The difference is crazy, huh?

However, before you get your hopes up, I would not recommend investing in RE here. The government can take your property in the blink of an eye. I've heard horror stories of this happening to numerous foreigners investing here in the past.

Thanks Stephanie. I've lived in Ecuador for a year and half now. I've got 8 more months and I return to the U.S.

Welcome Abbey.

I love the Northern Virginia area and have lived in Tysons and Falls Church in the past.

I'm currently living in Ecuador (not a great place to invest in RE abroad, IMO) but should return to NVA soon.

Hi everyone,

I just joined the forum and want to introduce myself.

I'm an American currently living and working in Ecuador.

I joined the forum to learn more about real estate and RE investing. I've read a ton of books on the topic but have never done it. After viewing some of the post here, it looks like there are some VERY knowledgeable people and I'd like to learn from you all.

I currently own no real estate, not even my own home :cry: . I'm looking to start investing in RE when I move back to the U.S. in August.

I look forward to chatting with everyone. Oh, and if anyone has any questions about living abroad or Ecuador, please contact me offline. I'd be glad to help.