How I bought my first Duplex while living outside the US

[Ross Gortney]

I've been reading and listening to the media from bigger pockets for the past 5 years, and at the end of 2017, I pulled the trigger to buy my first rental property.  What was unique was the fact that I live in Shanghai China, and the property that I bought is in Atlanta, GA.  I won't gloss over it and say it was super easy and everyone can do it, but I will share the facts around my situation that helps all to understand better.  My mom is real estate agent in Atlanta, and the possibility to buy the property came through word of mouth from my mom's friend and then to me.  This makes everything much easier.  I was lucky to be in contact through the seller by my family, and also this seller was really motivated to sell without going to the open market.  I bought a 2 unit duplex with 2/1 on each side.  The rent at the time was 710/unit, but after some research, I learned that the market rate is more 950/unit.  I upped the rental rate to 810 on the first contract and looking to get it up to 950 or so within 2 years.  When I can reach the market rental rate, the monthly cash flow will be around $500/mo after all expenses (mortgage, maintenance, taxes, etc) before tax deductions which will leave the bottom line higher by 1-200/mo.  It's been a promising buy in my hopes, but we will see over time.

Ross