All Forum Posts by: Marz Junior

I would caution you though- as a foreign investor myself- stay away from Detroit. I have been investing in Detroit proper and hold a few properties over there. I have come to the conclusion that Detroit is not a market that can be successfully invested alone long distance. The actual returns are nowhere near expected and the headaches are enormous. Fix and flips are out of the question, I can barely control a simple pre rental rehab.

@Jerry W. has given you some solid advice above. I am moving in that direction and also looking into crowdfunding opportunities- which might interest you as well- considering the ability to invest relatively smaller sums in diverse assets.

@Saul L.

Thank you for your concern. It's good getting real advice from people like yourself in the particular markets I've been looking at.

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Originally posted by @Helen Rolls:

Hi @Marz Junior.

Good to see another Aussie on here :). I like your plan. I'm curious though how you plan to handle doing fix and flip from a distance..? I find even managing small renovations on my home in Melbourne from Sydney a challenge. Even from contractors I have worked with in person for years before I moved. (Still wondering why the floor in the sunroom has one coat of walnut and the rest of the house has two after three years).

Cheers,

Helen

G'day Helz.

yeah it's a sticky one to say the least and it's a challenge i need to look into a little more. Im planning on going to the states next year and have been in contact with a couple of people who are contractors. I'm trying to meet more people on here too. I don't mind doing joint ventures and going halves in the profits. But I want to see the property in person and walk through with the contractor and see what he or she thinks. Kinda playing it by ear atm but at the very least I'll just get a property already done and rent it out.

Thanks for asking.

Marz

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Originally posted by @Jerry W.:

@Marz Junior If you are going to be doing fix and flips you will probably want to be present for at least the first few. Depending on others to look out for your interests while you are thousands of miles away might be tough. You might consider being a hard money lender or doing a joint venture the first time or two until you know more about the process. I realize that will be hard if you only have the money for one property.

G'day Jerry. You're absolutely right. I am looking at coming over to the states early to mid next year. I have a couple of people that I've been talking to online that i want to visit and perhaps do a joint venture with. BP has been a great find for me as I'm able to reach out to alot more people now. Thanks for replying. Have a great day.

Marz.

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Originally posted by @James Wise:

Welcome aboard @Marz Junior

Good luck to you & I'll see you around the forums.

Absolutely james. Thanks.

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Originally posted by @Federico Gutierrez:

Hey Marz, Welcome to the forum from another aussie to another.

I think you need to flip points around. 3 and 1 should dome prior to 2.

Your hardest obstacle will be the initial capital to invest here. Have you looked into what markets could work for your limited funds?

Hey Fedz thanks for the tip. I guess initially i was looking at Detroit but since looking onto US property websites ive noticed that there's deals everywhere. One of the videos ive come across on BP was affordable rei where the young lady dealt mainly with the sub 30k market. I'm also looking at coming over to the states early next year but im just finalizing my funds from here first. Thanks for the reply mate.

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Originally posted by @Mark Nolan:

@Marz Junior

Welcome to Bigger Pockets. Make sure to check out all the informative podcasts.

Hey Mark Nolan, thanks for the reply and yeah the podcasts are an essential part of my day. Thanks.

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Hi BP community.

My name is Marz and im looking at investing in the states. I guess like most overseas investors i saw the prices were low and the ROI was far greater than what we have here in OZ. Being a newbie to investing not just in the states but a newbie in general. I've been working 2 jobs for the last few years trying to save enough money so that I can invest over there. It's been hard but hopefully worth it. I guess I'm looking at investing in single family homes that I can get cheap, fix then flip to aid in building capital but if it doesn't sell I'm more than happy to rent them out. Ultimately the goal would be to build enough capital to upgrade to multi family apartments in the future. I guess my main challenges i see are, 1. Finding good potential properties. 2. Finding reliable and good contractors. 3. Finance for overseas investors so I can leverage. 4. A good property manager. 5. Learning more about not just usa real estate laws but individual state laws depending on where i invest. I know there are many more things i need to learn which is why i am on BP learning as much as I can, not just from the videos but from reading peoples blogs and posts. I look forward to hearing from anyone and possibly working alongside you.

Thanks.

Marz.

1 Vote

All Forum Posts by: Marz Junior

Marz Junior has started 1 posts and replied 17 times.

Post: New member from Australia

Post: New member from Australia

Post: New member from Australia

Post: New member from Australia

Post: New member from Australia

Post: New member from Australia

Post: New member from Australia