Kiryat Ono, Israel · Member since 2016 · 32 posts · 10 votes
If you buy and rent, what's the very worst that can happen and can insurance always protect you from that?
Can a tenant sue you for something where you have some sort of personal liability? Living out of the country, being subpoenaed to a US court would be a major hassle for me, for example.
Even worse, can end up owing someone millions in compensation or going to jail?
I understand monetary/financial risks. Trying to find out what kind of risks exist beyond that.
Investor · Riverside, CA · Member since 2014 · 239 posts · 177 votes
10y
Too many scenarios to list here on what could go wrong. Sounds like youd need a real good team of people that you trust very much, I.E Property managers, RE attorneys etc. Its totally possible to invest from out of the country and many do it, but way more often than not, those people has contracts, signed documents, and great people to make sure everythings running smoothly. With that being said, a team can be expensive! So make sure your numbers all work well.
Investor · Riverside, CA · Member since 2014 · 239 posts · 177 votes
10y
Too many scenarios to list here on what could go wrong. Sounds like youd need a real good team of people that you trust very much, I.E Property managers, RE attorneys etc. Its totally possible to invest from out of the country and many do it, but way more often than not, those people has contracts, signed documents, and great people to make sure everythings running smoothly. With that being said, a team can be expensive! So make sure your numbers all work well.
Kiryat Ono, Israel · Member since 2016 · 32 posts · 10 votes
10y
I guess there's insurance for pretty much anything short of actually murdering a tenant on purpose? And yes, you're right @Todd Fithian costs are going to be higher investing from overseas and that needs to be factored in as well.