All Forum Posts by: Yannick Dos Santos

@Cesar Figueroa Hi Cesar, I am an out of state investor for a few years. I have built a small portfolio so far in the city of Toledo,OH. Happy to say that it has been working good so far for the last 4 years, except during COVID19 times, as we know was a bit rough..

ATM I am holding just 4 SFR around Toledo, and looking to expand it, considering buying another 4 units, weather is single or duplex or triplex.

I used to work with a contractor, however, he went AWOL and little to say, I haven't been able to find another one, same goes with my accountant, which I am urgent to find one.

Being an out of state investor could definitely put a bit of a tricky situation if you try to build a portfolio, however, if you live at the place where you are investing, that could save you tons of money and time. Hope this helps you.

If you like to keep in touch, PM me and will chat.

Also, if anyone is reading this, please I need help in finding a contractor and accountant to file my end of year taxes.

Regards,

Yannick

Hi there BP community!!

to @Lane Kawaoka, I am not the right person to guarantee 100% the trend for turnkey investments in different areas. As you can see, I am an investor from Australia, nearly closing on my second property in Ohio by May if everything goes as planned. My first property I bought it in September 2017 also there in Ohio and from what I can tell, it is really going well with the results talking about financials. The turnkey company I work with and my team is exceptional, the property manager and the tenants have been really good so far, communications have been very helpful and ROI is around 11%.

I did not go for high valued properties neither for very low cost, I purchased it around 65K included basic rehab and everything fixed ready for the tenants. I am not sure if the market trend this year 2018 goes to Ohio but I am ready to jump on my second property in this market as soon as I find a good deal with my turnkey company. What I have to be careful, it is not to put everything in one market, hopefully after this one, I will like to diversify in another market of course and plant more seeds.

to @Kristopher Hanks, you are a very good example of a truly and honest person/investor for a lot of people in this community, I must say that when you admit your failures and mistakes, it will make you a better and experienced human being. I was so nervous when I first invested in real estate in Ohio, because I (among many others) do obviously live far away from the country and never ever have seen Ohio with my own eyes (but I am planning to travel there very soon), so knowing the real estate opportunity in this market that sometimes is TOO GOOD TO BE TRUE and also from my experience tells me that something good comes with high risks, so, what I did firstly was my research in the area and build up my team of real estate brokers and property managers and plenty of advise from this website Biggerpockets and off I went to find a good turnkey operator, hiring them would cost a bit of money and its better to have some professionals with a reputation than do it yourself try to save a few bucks. But, my friend, never give up is my advise, what you doing is exceptional, just what I am going through with this financial shakes around the world, never give up, because the last thing to lose is Hope!

Very well mate @federico gutierrez, thanks for the reply.

My LLC is under my name 100%, so I am the sole trader of my company. Regarding the bank account, the one that I have from my local Florida's Bank is my personal bank account which I opened years ago. Getting a 70% of the appraised value is not that bad, considering that I will put the two properties on refi, that will likely give a good deposit for a single family home or perhaps a duplex.

Do you know any local bank in Ohio which I could go online and send an email? or do you think is better to go through my own bank in Florida? Have you done it before?

Regards

Hello to you all BP community!! It feels great to be back after several months. 

I was just here about 8 months ago looking for advise about stepping up and investing in the greatest country of United States of America. before I continue, just a bit of myself... I came to Australia about 7 years ago from South America looking for a future and survival of my existence (literally), since Australia's market has become a big financial bubble quite impossible to penetrate, I decided it was best to get into USA since I loved this country when I just a child, I always have. A few months ago I jumped into this game called 'investing in real estate' and so far this experience has been real good and rewarding. I bought my first single family home with a turnkey company located in Ohio by September 2017 and I am very proud to say that by April or May 2018 I will be buying my second single family home with the same company. 

After all, I would really like to hear some advise from this community about using HELOC to buy the third property, my questions are..

is it possible for an overseas investor to apply for HELOC in USA? even tough I own two single properties with no debts. I have to mention that I do have a relationship and a bank account with a local bank in Florida and I do own a LLC in Ohio

Would I be able to use the equity on my two properties to pay down the deposit for the third one?

Is all about strategies, also, in the meantime, I will keep working and saving money in Australia, same way I have been doing for the last year or so.

Thank you very much in advance for any help or advise I could get

Thank you everyone for taking the time to reply to my post. I do really appreciate all your answers and opinions and also to welcome me into BP's family members. I know I have disappeared for a while, but my full time job sometimes does not allowed me to surf in the internet. I have also been doing my due diligence in the market and soon will come up with good results thanks to BP network of members and heaps of information.

Well... all I have to say is two things now..

one of them is communication has been very very good, taking into consideration the difference in hours between two separate poles could be a bit frustrating but manageable. The second one is Great experience so far.

I have recently got into my first sales contract on one property with OCF and immediately have been taken care of to finalise to papers and purchase of my first property. I am really happy of my decision to choose OCF and its team. Although there is a pending call with you fellow Engelo.

I will be posting updates and progress of my experience along the way.

@Gay Lloyd

That is totally truth! Internet is a tool nowadays which makes things go around very easy and reach anywhere we like. I will be in touch very soon and thanks a lot for your welcoming!

Hi @Suvir Salins 

Thanks heaps for your reply, and it made me very happy to know that there is somebody out here in Australia making dreams possible investing overseas. I will be reading your post/review a bit later after work since I am really interested to go ahead with my intentions of investment. Perhaps you could guide me through this path to make things a little bit easier since USA is (as you know) far miles away from here.

I will absolutely write you as soon as I have a chance.

Sincerely,

Yannick

@Robin Cox

Thank you so much for such an explicit explanation and details.

Of course, I did not want to throw lots of information on my first message. It is clear that investment covers a wide range of options just as you mentioned before. 

For starters, I was looking and hoping to find good deals between B and C properties around Texas, Ohio, Georgia and Florida with little TLC or ready to move in, single family house or duplex at the beginning working with a budget less than 100k, and then again, I don't know or haven't met any realtors or lawyers or financial advisors in any of those areas. I have established a good relation with a bank located downtown in Miami Florida since I opened an account years back and my father is an investor himself.

I will certainly start watching those webinars here at biggerpockets to get more details, but I am more appreciated hearing peoples experiences and points of view about the areas I have mentioned above regarding population growth and cash flow properties in those places.

I am really happy to hear your feedback and will be following for some more.

Hi everyone at the Biggerpockets community. I am proud to be now a member of this big family, reading stories and peoples experiences in property investments.

I have migrated to Australia from South America looking for adventures. But, after several years of hard work and stressed, I decided to take a jump into real estate market since I am aiming for freedom in my life. I have attended a couple of seminars and read a few books about investing, but I have no experience whatsoever as a investor. the market in Australia is currently in a gigantic bubble where it is a big difficult for investors to enter at this point. That is why, I am been looking at USA property market and it seems very attractive now specially in cities like Tampa, Jacksonville in Florida Dallas, Houston, Austin in Texas and some others located in Ohio. Since I will be considered as an overseas investor, my entry point shall be low in blue areas but looking for growing population as well as high rental demand.

I would really like some advice, help, opportunities and strategies that anybody can throw me since I don't know any realtors or lawyers, not to mention that I have not lived in any of those areas, but I am more than happy to take a plane and visit those places when I have a clearer idea of investment plans.

Thank you, I will really appreciate it.