How should I prepare for investing while serving overseas?

Question

Stationed in Korea for 1 year. Is there anything I can do now aside from online education and saving money to set me up for my return home to Tucson AZ next May? I believe I will focus primarily on rentals and flips. Thank you!

Christi Hawkins · Answer

Thank you both for your service to our country. I have no doubt all your dreams will come true!!

Steven Dreyer · Answer

How's it going brother? I'm stationed in Japan right now.

This all depends on your goals really. It's said on here a lot but if you're looking to fix and flip you probably don't want to do this from a distance. (Even though it is definitely possible) The best thing is to educate, save, and also reach out to people in your target market so you can get your name out there and learn who the players are. This way you can begin building your "team" or start figuring out the best places to get loans, best contractors, etc.

It's a waiting game for sure and it sucks to just sit but I'm sure everyone goes through a stagnant period in their career.

Good luck out there!

Darron Stewart · Answer

John, I have been there, was living in Germany and TDY to Spain, bought townhouse in DC area with parents, so its doable nearly anywhere.  My take-away is start soon as you can and repeat the success along the way.  My first real estate investment went up nearly 10x the value and my worst increased about 50% and that was just the appreciation, with rental income the returns are through the roof!  Some folks will leverage to the max, my preference is to have paid off fast as possible then repeat as often as possible.  Best to you!

Brian S. · Answer

Hi Justin, thanks for your service! I'm not too far from you in Shanghai. I'm closing in on one year now and time flies quick.

I have a duplex in Cleveland, OH that I have a PM company run. I bought that several years before my company sent me overseas. It is definitely challenging being so far from US and trying to invest in real estate. I think the best thing for you will be saving money and research. I mean, a year goes fast...it will be time to go back before you know it!

Once you find a good place to invest, I would work on building connections in that area. For example, I am from Cleveland, but after my time in China is done, I plan to relocate to Tampa, FL area. I've already been working on my connections in that area such as long term rentals, vacation properties, banks and lenders, realtors, basically anything I can think of.

@Troy Williams

Nice to see another expat from the US in Shanghai! What area of Shanghai are you in?

As for your triplexes, congrats! Did your sister visit the properties while you are in Shanghai? I was back in the US this past Feb and made a side trip to FL to check out some vacation homes. I do not feel comfortable with buying a property that I physically haven't seen.

Brian

Miguel Dormany · Answer

@Justin Michael Johnson hi there. I retired from the Navy in Sigonella, Sicily. I wanted to get into real estate investing, but figured it was too difficult from overseas. After listening to many podcast and reading books I decided to go for it anyways. Now 3 years later I own a couple of rental properties in FL. Educate yourself and go for it. Nothing gets done without taking action. It is very scary, but things that matter most usually are. Good luck you

Miguel

Lana Forbes · Answer

Being afar and still want to do real estate invesrment, I would consider being a private lender.  You make money, not having to worry about buying house unseen, not worry about contractor.

John Van Uytven · Answer

@Justin Michael Johnson

I lived in Korea for five years.

Check out the Seoul Real Estate group on Meetup. I helped found that group when I lived in Korea.

As far as going beyond saying money. You can invest in others and their projects as a private lender. Buy notes or tax liens. You have a lot more flexibility on location and terms, with say $5,000 when you invest in paper. Buying a $5,000 house maybe tempting but it can be more stressful. I know, I bought a $5,000 house when I lived in Korea. I kind of regret that choice.That is what I wish I had done when I lived in Korea.

If I could go back and do it all over again.

Take Care

Troy Williams · Answer

@Brian S.

I'm living in Jing'An area.  Been here many years already.

Yeah, my sister went to see some, but honestly, most of our offers (including one of our triplexes) were made without seeing the property.    Zillow, Redfin, Trulia, local county website, Google Maps/Earth, etc....you can get a pretty good idea of the condition and neighborhood most properties are in just using available technology.    Most of the documents I signed for the closing were all digitally signed as well.

Funny you mention Tampa.  I've also been looking at FL and TX as two potentials markets.  Same idea...move back to FL when I leave China.

You use WeChat?  Can add me if you want 'troy7845'.  I have a local real estate group here in Shanghai as well.

Troy Williams · Answer

Hello All,

I am also living and working in Shanghai, China.   I had the same revelation as Justin about 6 months ago during a trip back home to visit my sister, who is based in Denver.   I knew I wasn't leaving China anytime soon, but seeing the US market continue to increase, my sister and I decided to go for it...stop talking and take action.

6 months later, i'm happy to say we are 1 week away from closing on not one, but TWO triplex investment properties.  I feel like we got a great deal, but then again, that's all relative, but unless there is an act of God, i'm sure we will come out cash positive every month.

Point being, yes, use the time away from home to listen, read and learn as much as you can.  Granted I had stateside partner to help, but the technology allows us expatriates to do most of the work from anywhere  on the planet with wifi.   Understand your constraints and work with them to your advantage.   Don't let distance slow you down.

Happy to share more details and always looking for good experience and learn how to partner on the next investment!

Cheers!

How should I prepare for investing while serving overseas?

Most Popular Reply