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Updated almost 10 years ago,
Newbie: I've been told it can't be done, but I'm going to do it anyway.....
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!