Newbie: I've been told it can't be done, but I'm going to do it anyway.....

[Greg Christensen]

I currently live outside the US, but am determined to start building my real estate portfolio while abroad. I have purchased two properties in AZ site unseen via a good broker and property manager but not hitting any home runs. Making about $300 a month (total) in cash flow. I have family in AZ, CO, and UT so I'm targeting those areas so I can leverage their help. I'm new to BiggerPockets and investing so I'm anxious to hear some advice given my situation. I am unable to visit properties, go to networking events, etc but I'm willing to work hard to make the connections through phone and email. I'm having a difficult time finding any new deals that would make money after I pay property management, HOA, and financing/insurance/taxes, etc.

I've managed to save and have about $150k in cash to invest. My ultimate goal is to make enough with passive income to quit my job and keep building a real estate portfolio.  

I welcome any ideas from this forum as a new member in a unique situation, but determined to make it work.  Most tell me its not a good idea to pursue this remotely, but I have limited options for the next 2-3yrs and I prefer not to wait.

Thanks in advance!

[Rick H.]

Welcome to BP.

I'm impressed that you've taken action despite being an absentee landlord. 

Real estate investing already has it's challenges for the guy of gal who's close by so you don't need me to remind you of the obvious. 

Given your offshore restrictions, I suggest you focus on your RE education. Learn everything you can about the fundamentals including appraisals, title and conventional financing. Then study foreclosure laws for the states that interest you (for future acquisitions) and seller financing and other control techniques.

Ultimately, when stateside, you'll want to buy properties off market (rather than MLS listings). This will require you to become a master direct response marketer and competent sales person.

Don't spend your money on topic specific training (like probate, etc.) now until you're ready to focus working niches. Also, don't exoect that BP forums will be sufficient (or accurate) for your RE education.

My favorite: Mike Cantu's "Don't GetVoted Off Real Estate Island". Search and you'll find it.