I am 18 years old and live in the United Kingdom. I just feel there are more opportunities out in the US for someone as young as me to get started. Such as real estate investment clubs in every major city, mentoring etc. Where as the UK there only seems to be millionaire workshops and advanced training with them.
This is not something I have thought of over night. I have been saving for well over a year currently in two jobs and this year my aim is to just save and building my credit rating. I attented a Russ Whitney 3 day seminar and have been hooked every since but would rather invest the money than spend on advanced training. Should have around 25k (pounds to dollars curency) to invest with.
adz - this is a tough one… I believe it would be very difficult to get a work visa working in real estate. As you may or may not know to get a work visa the company sponsoring you would need to demonstrate that the job is difficult to fill with local candidates… This is typically done for technical jobs. My take is that any company would have a hard time demonstrating that they would need to bring someone from abroad to fill a position here in real estate.
Having said that another option is to get an investor visa - however you would need much more than the $25k you have saved. Investor’s visa require you to invest a minimum amount of dollars here and employ a minimum number of people.
anyways, this is my understanding. Maybe someone else here will have a better answer. Good luck!
See thats the thing, as most companies look for degree holders. I have taken a different path to my friends who have gone the university route. So it’s hard to get a sponsor when I decided to work and save instead of study.
Hopefully someone can take a chance with me :biggrin.
I think you would have a very hard time finding an investor to form an LLC with someone who lives overseas. There is no way I would ever consider that. Just simply look at all the people who post on here with big dreams and then disappear into the abyss.
Now if you could find some legal way into the country and then contact some investors local to you, you can probably find someone who would be willing to help you out and show you how to get started…but entering into a legal entity with someone from overseas…not likely.
Actually - I believe the risk would be more with adz than with the local investor. Think about it - adz would be providing his cash. The LLC would be a US entity. The local investor would probably be the manager - because I don’t think it would be feasible for adz to be the manager living abroad. And if there was a dispute, adz would need to sue here in US, which would be very expensive and difficult to do from abroad. The local partner would have the money, the control, and very likelihood of being sued by the other partner… Just my thoughts…
Adz - having said the above, be very careful and think this through. It seems you had to do some sacrifices to save all this money (like not go to college and start working earlier in life). Don’t lose it by entering in a partnership with someone you don’t know and where you will have very little leverage. Maybe you should re-think your plans - if real estate excites you - I am sure there are folks making money in real estate where you are today. Maybe you should give it a try.
In the other hand if you really want to move here, you need to be realistic about the requirements (which I believe you are based on your last post) and address them - if you need a degree, than you better start working on getting one.
Just my thoughts… Good luck! Please, keep us posted.
Thanks for the posts guys, but unlikely gonna take the LLC route, as it just doesnt seem right getting tied up before I even get started.
If I am unsuccessful finding a real estate company to sponsor me, I am thinking about doing other sort of work to get sponsored that way. Then I will network at clubs and get a portifolio started slowly with my spare time.
I think you can relocate to Canada without much fuss, since its a commonwealth country. If you had a day job/residence there, you could invest in the US in areas that are just over the border, like upstate NY, Detroit, or if you like warmer weather, upper Washington state…
The two “unknowns” that would threaten this plan are exchange rates and US border guards.
Edit: There are some sorts of “Fast pass” programs for people that have to cross the border regularly. You go through a bunch of security checks all at once, then you can use special fast lanes for crossing.
Edit 2: And your taxes would probably be a nightmare!