All Forum Posts by: Richard Young

Hi There-

Any US citizens out there that own property in a foreign country (and operating it as a rental)?  I am looking at some opportunities in Spain, but want to understand what all the ins and outs of foreign ownership entail.  There are probably lots of legal and tax items that come into play that should be aware of before jumping into this.  

I would love to hear from people who are US citizens and actually own foreign property.  Experiences good and especially bad would be appreciated.

Thanks!

Rich

Does anyone know what the legalities are for US foreigners to buy and own property in Spain?  

This is a fantastic time to be looking at Spain as the prices are at lows and starting to come back up.   The time to buy is when things can't get any worse. Of course, everyone must do their due diligence and have a team they can trust.  However before actually investing, I am interested in understanding what I need to know as a US citizen owning property in Spain.  Property rights, taxes (Spainish and US), etc.

I am from California but travel to Austin quite a bit for work. I have grown fond of the city and seen the population and economic growth take place over the past few years. I am interested in Austin based RE agents and investors I can network with and potentially partner with.

Please shoot me a note if you are interested so we can chat.

Thanks,

Rich

Hi Josh-

I just listened to the audio for the rehabbing bootcamp 2012 and was trying to locate the powerpoint slides but could not find them. Do you know where i can find them? Dying to see the 4 flippin boxes diagram!

keep up the great work!!

For example I want to research a new market Florida and a submarket within it.

@Elliot Mendoza - It sounds like you need a temporary place to park your money and earn the best return while you are on leave. I recommend getting educated before putting your money into anything. I totally understand that it is hard because there are so many tempting choices. As a fellow investor, if you are considering passive investment that you do not have control over, make sure you vet it out for safety first and yield second. That said, I like the private lending that are secured by 1st position deed of trust. These are direct loans to investors that are collateralized by the property itself (you get the property if they default on the loan payback to you). I have seen 8-10% return on these types of investment and they fit your time horizon (typically 1 year or less). You can find private lending companies on BP. In the meantime, educate yourself on the stuff you want to active in such as fix and flip, wholesaling etc.

Hey Aaron

I am looking for 4 units in Long Beach/SoCal as well but the market in my opinion is getting tougher to find deals. I'm not getting interested in paying retail for property or getting into bidding wars. For buy and hold, I prefer local but ultimately, I invest where the numbers make sense so I look more at things like net job increases and population growth (i.e. - Dallas, Memphis, etc. while CA is losing jobs/anti-landlord/etc.) that will help with tenant and income stability. However, I'm always open to learning new perspectives. If you have models where the numbers work comparative to dallas or memphis, please share with me on or off thread.
Thanks, Rich

I am looking at buying SFR as long term rentals and stumbled across Kansas City. I see properties that range in the 25k to 50k range that can rent from 650-800 a month. Those are good cash flow starting points.

Are there any folks with local knowledge of Kansas City Metro areas that know if it is a good market to buy in NOW? If so, why?

Thanks!
Rich