All Forum Posts by: Richard J Reid

@Sean Tagge Great to meet you  I actually have one property through Memphis Inv and one loan with Bridge Capital. But always looking for other options. 

Hi Kristian

I am originally from Scotland but now live in Namibia. I have been investing in property in USA for over 6 years and purchased several residential properties all from a distance without ever having to visit them. I have used two different companies and set up a great team of people on the ground to manage my portfolio. So it's certainly possible. My advice is to speak to as many people as you can and ask lots of questions as well as getting references to verify people's services. I set up an LLC and registered for my ITIN number, I have an attorney an accountant, and a management team of course this has additional costs but if you find good deals it can still turn a profit. Most of my deals have been private lending which comes at a higher rate but again you just got to make sure you work it into your deal.

If you have a history in NH that may be a good place to start searching for deals as you may feel more comfortable but at the end of the day, it's all about the team you build and finding good deals.

Good luck and reach out any time if you have questions. 

RJR

Hi @Jackson Randolph Welcome  I have been investing in Atlanta for several years. I built a great team there and learned a lot. Should be some good deals coming up later this year.

Hi @Tess L. If you go for hard cash loans they can be very flexible, if you put a good plan in place to show them then I think they will lend to you either way. 

Hey Les, 

I have been investing in the USA for the past 7 years as a foreign investor mainly in Atlanta but also in Memphis. My advice is to do as much due diligence as you can and find a good team that you can trust and rely on. I have heard a few horror stories from foreign investors losing out to bad deals and bad agents so also ask for references that you can contact and talk to for feedback on people's services. I guess I have been lucky to meet the right people and I have had no problems. I am yet to visit any of my properties as the deals have all been done over emails and phone calls but they have all worked out great.

I would use your citizenship to its full potential as providing your taxes and credit rating is in order or at least if it can be built up you will get access to bank finance which has the best rates. I am stuck with hard cash loans with higher rates but they still work. Harder to find but if they see you are a serious investor with property experience anywhere in the world that is also an advantage. If you go the hard cash route show them you are serious and know your business as they can be very flexible.

The next few months could be some great oppertunites and looks like you are already off to a good start with the right mindset. Good Luck :-)

Hi I live in Namibia and have been investing in USA for the past 7 years both in Memphis and Atlanta. Just came across Bigger Pockets and looks like a lot of great people and great information. I'm looking to grow my property network, find finance options for international investors and always looking for deals. Look forward to gaining knowledge in the forums. Thanks