Deployed Over Seas (New to Real Estate) Can I Buy Long Distance?

[Kyle Deleon]

Hello, I am currently deployed overseas and with my new paycheck I am deeply interested in starting real estate...only one problem - I'm here for a year! Anyone recommend if it's smart/wise to start my real estate empire overseas, aka buying remotely without physically being there in person? What do you recommend? What resources should I look at? Has anyone done this before?  Thanks!

[Brenden Mitchum]

Hey @Kyle Deleon, welcome to the BP community!

So the thing is that when you do finally decide to start investing in real estate, whether it is remotely right now or later when you're back in the red, white and blue, you will first need to build a team. Networking is a huge part of real estate that many new investors overlook - I certainly did. I just thought, "Okay I'm ready so let's go buy some property." I quickly realized that it takes months of building these relationships before you find a solid deal (unless you just team up with a turnkey company). So my advice to you would be to start building this network while you are overseas. Having a team in the market you want to invest in is essential for this and if you do not end up buying anything until you come back, you will be very glad to already have a solid team in place. 

Don't worry so much or rush into anything. Just start speaking with investors and real estate professionals in your area and building these relationships. At the same time, begin analyzing deals - analyze as many as you can every day to really get a good handle on what's available in your market and what works and what doesn't. Start doing these two things now (along with educating yourself further) and you might be able to get yourself a deal before your deployment is up!

Please, feel free to message me anytime if you have other questions or just want to chat!