I currently live abroad and Im saving money to start investing in Real Estate. I’ve selected my markets and have chosen to enter the investment game as a wholesaler. I would like to move on to short sales and lease options.
Now I think I should pull the market information and and run it through some technical analysis and look at the fundementals of the each particular market i.e. jobs, migration, and devlopment prospects. My question is; can all of this information be found on-line? If so were and how much?
The second thing Im concerned about is making connections with all of the key members of anyone team(lawyer, contractors, REIA’s, etc.) Has anyone done that using the Internet? If so, I would appreciate anyones advice.
Lastly, if this is not the best route to take, How much money should I save? Is 30,000USD
enough to really start in game. Are the capitol requirements higher? Oh as an added piece of information, I am interested in California, Arizona, Texas,and Ohio.
Thanks for your input.
I think that it is going to be VERY DIFFICULT to start and operate a successful REI business from overseas. Unless you are going to travel to your investment area occassionally, I would not do it. How will you find real deals? Everything will be more expensive since you’ll have to hire someone to do everything. Who will inspect the houses for you prior to purchase and how much will that cost? I just don’t see how it’s feasible. REI is not an internet business. REI is a hands-on, get out there and meet people business.
As always straight talk, thanks. Any other opinons out there?
You can do it but you need to have a lot of patience. There are a few places that cater to overseas investors. I have never used them but know people that have and they are satisfied. 30,000 is more than enough to start with I started with nothing.
$30k is fine to get started, but from overseas would be very, very difficult. I invest in out-of-state properties, but I have an estalished network and knowledge of the areas that I work. IMHO, your chances of failing becuase you end up with crappy properties is very high. Sure digital pictures are great, but there is no substitiute for walking up to a property and see the neighborhood, surrounding properties, etc.