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Updated about 4 years ago,
20year old newbie living in China. What would you do ?
Hello , I am Alvin Charles ,a 20 year old from Uganda and I currently live in China perusing a bachelor in architecture. I have followed BiggerPockets for a year now and I have educated myself about Real estate as much as I could, listened to most of BiggerPockets podcasts and read various books about real estate. Thanks to Mr. Brandon Turner whom I’ve been reading about and listening to as he informed the world about real estate and I’m glad to be one of his seeds. As a newbie , my major problem is the location of where I should start my real estate Business. I thought about this a number of times but still got no clear answer. I believe with this platform, somehow I’ll get the right answer . I was thinking about starting up in Uganda (my home country ) , But the number one problem is that I don’t live in Uganda. Starting up a business when you aren’t there for supervision as it’s growing, I don’t think its the best thing to do .Secondly , one of the other biggest problem is that I’m currently living in China . China has a rigid system and tons of restrictions about foreign real estate investors but of course, after digging deep I realized there are loopholes to those restrictions. However, it takes a lot of time and money , especially “MONEY” , to accomplish this even before you start the real estate business. Financially-wise, that wouldn’t be something I would go for.
As I said , I’ve been following BiggerPockets for a long period of time but Most of the information applies to people in United States of America. I’ve tried to look for people in this community that are outside USA , (definitely in China) so that I could find out a way how they started up or could have a person to let me know more about investing in China real Estate. Sadly , I’ve found none. Please if you have any knowledge of how I can create a concrete plan and structure of my business, I would Really be glad to use your help.
One of the recent podcasts on BiggerPockets, about who not how , is a brainchild of one of the strategies I want to use and apply here in China. I want to find people who know exactly what to do and people who I can get on the same page with since chinese economy is tricky and rigid, but this will obviously take tons of money to set up such a team. On my team , I want an attorney, to inform me what’s possible (legal) and what’s impossible (illegal) for a foreign investor in China and much more about legalization. I also need a real estate agent , for finding deals and telling Me more about real estate in China . I need also a contractor because I want to do buying and rehabbing .. Basically, those are the 1st three personalities I would need on my team , once I have that team , I think I will make things happen , what’s your say on this? Is there any person I can add on the team or is there any person I can eliminate? What advice do you give me. Thank you 🙏