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Updated over 3 years ago,
Advice: Just starting out from abroad
Hi everyone,
Total newby here but have been making my way through the amazing resources BiggerPockets has! I'm tentatively making my first post to introduce myself and start engaging in the community here.
My husband (British) and I (American) live in London. Due to his entire family passing away in the span of a year, we're about to inherit a decent chunk of cash, and will have about 150K to play with. Investment property is not really viable in the UK due to stamp duty and other policies that kind of punish those who own multiple homes, so we're looking in the US. I've just ordered David Greene's book on long distance investment, but I'm wondering if there's anyone else who has done this from outside the states (or anyone in general) who has any advice to share?
We're still in the exploratory phase so still nailing down a strategy, but I think we're planning to start with SFHs that cost around 100K - and in an ideal world with the aim to buy one at a time while we get comfortable but hoping to scale up with a new place every 6 months or so until we have around 5. I'm not sure if we'll be approved for that amount of debt (we only make about 90K a year between us), which is another thing I need to learn more about. Especially how mortgages will work from abroad - basic googling makes this seem possible but the actual process is still unclear at this point.
Anyway, I just wanted to say this community has already been so helpful, and say hello! I know I have a lot of learning left to do (please forgive anything I've said that is naive! I know more research and learning is priority one!).