International investor looking to get started with rental properties

[Oscar Meneses]

Hi there! I am an entrepreneur from Guatemala City, Guatemala. I have been investing in real estate locally for a few years. Now I am looking to start my real estate journey in the USA. I am both interested in building my own portfolio of single-family home rentals, and in offering turnkey properties to passive investors in Central America.

I´m hoping to connect with property providers, wholesalers, contractors, property management companies, etc. It would be ideal to find a team that is vertically integrated and can help me throughout the whole process. Building relationships is most important for me at this point. I understand for my project to be successful I need boots on the ground, a great team with lots of experience that would be interested to partner with me for the long haul.

From the research I conducted I would like to get started in markets such as Cleveland, Detroit, Kansas City, St Louis, Cincinnati, etc. Initially looking for off-market, distressed properties that we can renovate, rent, and get great CAP and return rates (potential section 8 rentals could be a possibility).

Any advise or pointers will be much appreciated!

[Christos Kalogeropoulos]

Hey Oscar,

As an international investor, getting started with rental properties in Columbus, Ohio can be a great way to grow your portfolio and generate passive income. Here are some steps you can follow to get started:

1. Research the market: Before investing in rental properties, it's important to research the real estate market in Columbus, Ohio. You should learn about average rental prices, demand for rental properties, and any potential challenges or risks that you may face as a landlord.
2. Identify your target rental market: Columbus has a diverse population, so it's important to determine who your target rental market will be. This will help you select properties that are located in areas where your target market is most likely to rent.
3. Find a local real estate agent: A local real estate agent can be a valuable resource for you as an international investor. They can provide you with information on available properties, help you navigate the local real estate market, and assist you with the purchasing process.
4. Consider using a property management company: As an international investor, it can be difficult to manage rental properties from a distance. A property management company can help you by handling day-to-day operations, such as marketing and renting the property, collecting rent, and managing repairs and maintenance.
5. Get professional advice: Before making any investment decisions, it's important to get professional advice from a financial advisor, accountant, or attorney. They can help you understand the tax implications of owning rental properties in the US and provide guidance on how to best structure your investment.
6. Finalize your financing: Finally, you will need to secure financing to purchase rental properties in Columbus, Ohio. There are various financing options available, such as conventional mortgages, investment property loans, and private loans. It's important to choose the option that best fits your financial goals and investment strategy.

By following these steps, you can get started with investing in rental properties in Columbus, Ohio and begin growing your portfolio. I hope this info helped for your new adventure. If you need any other info please feel free to connect.