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Updated about 1 month ago on . Most recent reply
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New, hungry, eager to start while also patient. Large risk appetite.
I have no experience with real estate investing.
I do not live in the US, and I'm not a citizen. I went to university in the Midwest many years ago. Currently living in China - have a very stable job, decent income. Have a small flat here that was just recently purchased and under mortgage. Have some ok-ish savings, and I really, really, really want to try to get into real estate investing.
From my limited research so far I believe I'm most interested in BRRRR and Multi-Family. Seller financing is also quite attractive, though I guess there are few of these kinds of deals available.
I have no particular area that I'd like to start with or focus on, but probably prefer somewhere in the south of the US due to my strong aversion of winter. Not that I plan to live in or even visit the US anytime soon, but I don't want to deal with winter-related issues like heating, de-winterizing a home etc.
For any deals that I actually jump into I'll need a property manager.
It seems like there are additional obstacles to success for me since I'll have to do pretty much everything remotely, but an expression that I like, and I'm paraphrasing here, "If the path you're on seems easy, you're on the wrong path"
Would love any and all advice, guidance, comments, warnings or whatever else you'd like to share. Desperately hope to find a mentor, or partners to invest with. Also totally willing to go in by myself on deals. I just want to soak up as much knowledge as possible and get my feet wet as soon as the right deal presents itself.
Oh, I'm pretty decent at video editing - just thought I'd throw this out there in case anyone needs simple video editing services. I'd be willing to do small projects for free to spread some goodwill. You have to give in order to get.
Thanks for reading!
Most Popular Reply
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It sounds like you've done a great job in investing in yourself and taking personal risks. I've lived and worked in China and at one time had quite a few Chinese nationals as investor clients in my Florida based firm. What I can share is that the risk-reward will not be worth it as a 'newbie' due to your limited capital and inability to actively manage your properties. I recommend a few things: define what you want to achieve and why investing in the US is the vehicle to achieving that ROI. Save...it takes a lot more money than most new investors believe (don't drink the Kool-aid that you can get in cheap) and residing outside the US will be seen as a substantial risk to most lenders which will limit your financing options. Learn...what you don't know WILL hurt you. And, know this: it's not investing in real estate. It's a business - acquiring/building, managing, and growing a business. There are other ways to be part of the real estate industry besides being an investor and those may be more financially advantageous for you. Best...