International Investors raise your hand

[Yonatan Weic]

Hi All, 

I would love to hear if there are any international investors that have created an LLC, researched and bought property all remotely? (all from A-Z ) without flying (now with covid this isn't really ideal).

But I'd love to hear if you've managed to do that. 

• where are you from? and was this your first real estate investment ?
• which location (state and city if you dont mind me asking)  have you invested in ?
• in which state have you registered / LLC'd your company?
  
• What would you do differently if you could have done it all from scratch, any pitfalls you've ran into that might want to avoid this time (if you'd had to start it all over again)  or share with the forum 
  

I'd love to head from you guys.

[Chris Popov]

I did but with flying a couple of years ago. I am also London based

[Richard J Reid]

Hi Yonatan

Im an Expat from Scotland but lived in Namibia since 2006. I first invested in Memphis in 2013 via a South African company then went onto invest in 4 family homes in Atlanta. I completed everything from a distance and yet to even visit any of the properties. I currently only have two left but looking to reinvest soon.

I have one LLC in Florida the other is in Georgia, my accountant is in Florida but I am in the process of changing to a new company in Georgia also.

The Key is finding a good team that you can trust. I have been very fortunate with no problems with any of my properties.

What I would do differently is what I am doing now which is learning how to source my own deals so the ROI is better.

Atlanta was very good to me but the deals have been kind of slow lately so having to look elsewhere.

Reach out any time Cheers

Richard

[Luke Hadden]

Just adding that I'm also interested. I have many contacts here in Singapore running into this same issue. 

I've made contact with someone out of Florida that may have a solution. He's trying to tie it up as an "easy button" for foreign investors. I have a follow up meeting with him later this week and will report back what I know.

Just curious, @Richard J Reid what kind of flat fee do you pay for the set up of a US LLC, US bank account, and to have your taxes filed? Is there a single point of contact for you? If there were a single point of contact, would you find that valuable?

Thank you, Luke

[Charles Carillo]

@Luke Hadden

@Yonatan Weic

I have a couple partners that are foreign investors. They each setup a US holding company and are utilizing a Florida CPA that focuses on working with foreign investors. They have been investing in both syndications and into smaller multifamily properties. There are 2 main lenders that they work with. DM me and I will connect you.

[Shai Flax]

Hi @Yonatan Weic,

I'm an investor from Israel.

I only have one property now but I bought it under an LLC (in Pennsylvania). I'm investing in Pittsburgh PA and currently reaserching for another city to invest in for diversification.

I did it all remotely. I was supposed to visit Pittsburgh on April but with Covid I was'nt able to travel.

I would definatly build a strong team of realtor (that knows and understands long distance investing and would be willing to help you in unconventional tings like virtual house tours etc), contractor and PM. All of them have to be good and you'd probably gonna kiss a few frogs before you'll find you prince/princess.

I highly recommend to read the book "Long distance real estate investing" by David Greene which helped me a lot to make an order in my mind and focus on what's important.

Best of luck!

[Jean Paul Rousseau]

Hello everybody

I am a french investor living in France. I created two C corp companies (One in Georgia with four houses and One in Florida with five houses). Those companies directly pay US taxes and as I don't receive any proceed from the rents in France, I don't pay french taxes.

My  children are the share holders of those companies. I lend money to the companies to buy houses and the companies repay me in 25 years instalments. I may use this money to make additionnal loans eventually completed with cash belonging to the companies. I put a slight interest on the loan to be paid "in fine" (when I will be dead...)

I went several time wisit my team : one turn key company in Florida, One other company in Georgia taking care of everything

[Chris Popov]

For the details, I used a Florida LLC, 2 properties (SFH, Kissimmee and Fort Lauderdale) in it, a Florida based CPA, one of the property has a mortgage, it was really hard to to obtain as non resident, and on very bad terms. We are selling now, but I will come back to US market, when I build more wealth.

[Enrico Angella]

@Richard J Reid

Thank you for sharing your experience, I really found it interesting

[Hanah Frickers]

Hi @Yonatan Weic @Richard J Reid and @Chris Popov

I am also a real estate investor from the UK (London) and have been investing mostly remotely for the past two years. I found it tough to find financing and worked mostly with private investors but with high rates.

I now work with a Fintech platform that lends exclusively to foreigners investing in US real estate and they offer highly competitive rates. Check us out https://www.lendai.us/who-we-a... and get in touch to see how we can help you :) 

Happy investing!