All Forum Posts by: Gregor B.

@Lassy G.

Thanks for your insights!

ad 1: Especially the networking part seems to be very crucial. I guess that this is also something, which might be even tougher for first-time foreign investors as they don't have any reputation and/or history. I completely agree with you, that talking face to face beats the email-ping-pong-game every time. My approach is, that if it's not possible to travel to the US to meet the business partners then at least a Skype/Zoom video-call should be held on a regular basis.

ad 4: That's the reason why I'd like to go with turnkey properties to make my first steps in RE. Although they are higher priced and have lower yields compared to the BRRRR-strategy for instance, this model ticks most of my personal checkboxes while reducing some significant risks. And, I have to be honest to myself: I should learn to walk before I even think about running, meaning that the most important part for me at the start is to gain more and more experience. And once I'm comfortable with doing what I'm doing, I still can think about changing strategies.

@Lassy Gnini

Goedendag Lassy!

Thanks for your kind welcoming words. It‘s good to know that other investors from outside the US were/are facing the same challenges.

Since you are back from the US and only suffering from the jetlag, I guess that you have already mastered the first tough steps of your real estate journey? :)

Could you share some tips how you tackled the mentioned challenges?

BR and thanks

Gregor

@Charles Carillo

Hi Charles!

Thanks for your words and your offer for helping me to be introduced to your contacts. I dropped you a PM.

BR and thanks

Gregor

@James Wise

Hi James!

Thanks for mentioning TD Bank. Just looked it up and as far as of what I could see, they offer loans to Canadian citiziens. I‘ll try to get in contact with this bank and ask if they offer a loan program to non-Canadians as well.

BR and thanks

Gregor

@Matthew Song Loong

Hi Matthew!

The prices/rents for houses/apartments in Vienna and the areas around it became ridiculously high in the last couple of years. An 860 square foot apartment in one of the outer (blue collar) districts of Vienna costs about $350.000+ nowadays and rents for about $1.100+ - the prices for lots start with about $250-300 per m^2/10.7 square feet.

So, it‘s super tough to make the numbers work here - unfortunately.

Hello BP community!

My name is Gregor, I'm in my mid-30s and from Austria/Europe. My interest in US RE was awakened back in 2008 during our road-trip through Florida when my wife and I travelled to the US for the first time. I remember as it was yesterday, when we were so impressed by the huge houses with the pool screens next to the canals in Cape Coral. "How awesome it would be to own something like that. But let's be serious, there's just no way to ever own something like that." So we did not spend any more thoughts on that (back then) unrealistic dream. This year we spent our holidays again in the US and this time, I started being more serious about it, registered here, listening to podcasts such as the BP money show (which helped me a lot with bringing structure in my financial houshold – thanks to @Mindy Jensen and @Scott Trench), reading RE/finance books, etc. What discouraged me was when I realized that foreign investors need to overcome a lot of hurdles with respect to RE investing in the US. Since I don’t want to quit my journey before it has even begun, I want to ramp things up by bringing structure to my plans and starting to actively engange with the BP community after being registered for quite some time.

So, what am I currently facing with respect to my RE journey and what are my investing plans and goals? Since I’d be investing from overseas, everything seems to be a bit more complicated:

• The biggest hurdle I’ve to overcome in this context is definitely the financing part, which seems to be an adventure on it’s own for foreign investors – a lot of lenders do not lend to foreign investors, some only lend to foreign investors, who are not first time investors, etc.

• Once I can tick off this part of my checklist, I have to connect with a CPA, who has experience with working with clients from outside the US.

• After this is done, I guess I can serioulsy start to think about buying a property. In terms of properties, I figured that turnkey properties are the way to go for me. In a picture perfect world, I would like close on my first property within the first half of the next year.

• From the first deal onwards, my goal is to build a cash-flowing rental property portfolio with properties located in different markets.

• While doing so, with the gained experience and knowledge, I want to help other people, who may be in the same situation I was initially in, with their journey.

I’d be happy to connect with people/companies here at BP, who/which are working with foreign investors or can recommend contacts in this regard (lenders, CPAs, turnkey property companies, etc).

What can people/companies working with me expect from my side? I consider myself as someone, who wants to make life easier for my business partners and give something back. That means that I put as much of an effort as possible in my projects and highly value my partner’s time and business – which is especially important, when dealing with people, who are working/living thousands of miles away and in a different time zone.

I hope, these few lines work as a proper introduction and help to jump start my journey.

I this context: all the best, best regards and enjoy the rest of your Sunday!
Gregor