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Updated about 4 years ago,
Expat Investing From Abroad
Hi guys!
I'm a new real estate investor currently living abroad but looking to invest in the US (My local market is particularly unsuited for investing). Baltimore specifically has attracted my attention, because I have a bit of a network there that I can rely on, and because of the recent BP article on how lucrative it is. (I am also aware that Baltimore, possibly even more than other cities, has a huge spectrum as far as neighborhoods, with some being very undesirable.)
I'm looking to invest in buy and hold single family properties on the lower end of the spectrum, my budget right now is properties costing less than $80k.
My question is twofold:
1. Is investing from long-distance at all possible? Is it possible to find a trustworthy agent who can be my eyes on the ground and help me find the right property? If yes, how do I vet them?
2. I have seen many people insist that one actually visit the area they want to invest in. "This is not something you can do from miles away" they say. Say I take off a few precious days from work and invest in a visit. What would be the most worthwhile things to look for? What would your priorities be if you were visiting a city for only a few days?
- Since the market is constantly changing, is it worth my while to focus on seeing some actual properties?
- Or should it be more about becoming familiar with the city itself and trying to make some lasting connections? (forcing me to once again partially rely on them to assess future deals)
Thanks for any advice or insight!