If you're looking to invest in U.S. real estate or international real estate investing, it doesn't matter where you live now or will live later, because the strategies are the same and you'll need an American agent to help carry out your investment strategy.
You should consider the U.S. investing at a senior level because it takes time to become an expert. Commit to your strategy, review it regularly and stay focused.
We can relate to the advice of international readers because, whether we're in China or the U.S., we've had to learn about different cultures and governments from scratch, which involves gaining additional education and understanding cultural differences.
Although we don't have deep relationships with agents in other countries, we still find that those who work with us overseas are professionals who care about their clients' interests. Most people trust their American agents' advice over others from foreign countries without giving further thought. They know that the "U.S. government" is the American agents' client, not them.
The challenge is that real estate in the U.S. involves more than local laws and regulations. If you don't know how things really work in this country, you're at a disadvantage. Moving forward without good professionals can be very costly, which may make one rethink the need for a good agent abroad or at home.
The most successful real estate investors have a mindset of success; they believe that all their deals will be profitable and are willing to do what it takes to make it happen.
Successful investors are bold and fearless, but by being so they also run the risk of losing it all.
Successful real estate investors trust their gut and don't always rely on statistics. However, we believe that both gut feeling and data together are more powerful than either one alone. You can't always rely on what your agent tells you or hears from their clients.
We would choose a local real estate professional over an American agent living in China, even if the Chinese agent had experience in China and was familiar with local customs because the Chinese market is very different from ours. We've seen U.S. agents in other countries get great results even they don't have the experience to do so.
If you're an investor from another country, an American agent should be your best choice when considering investing in the U.S., because he or she is prepared to help with a unique set of challenges that only a U.S.-based agent can provide.
The most successful real estate investors have a mindset of success; they believe that all their deals will be profitable and are willing to do what it takes to make it happen.
Everyone gets setbacks, but if you keep disciplined and focused, you'll get over them faster than most others.
We strongly believe that a successful real estate investor is a "money manager." We don't manage properties, we manage money, so we have to do it well.
U.S. real estate investing is very passive until you have experience and can tell the difference between good tenants who will pay on time and those who won't.
A lot of U.S.-based investors choose not to invest in properties outside their state or choose only properties that are in states where they already live because it's easier than learning about other places and making mistakes with unfamiliar information about local markets.
We've made mistakes and lost money, but more importantly, we've learned from them. We feel that by looking at real estate from a wider perspective, we were able to see opportunities, not in our own state.
If you're thinking that these challenges would prevent investors from investing outside their home country, they don't. You just have to understand the risks that are unique to an investor from another country and how you can reduce them.
What's required of successful investors is discipline, and we believe that this is true for investors from all over the world who want to succeed in U.S. real estate investing.
We hope our article will encourage foreign readers who are familiar with the U.S. to get started investing in U.S. real estate now and think of international real estate investing because the sooner you know the paperwork and taxes, the better.
The most successful real estate investors have a mindset of success; they believe that all their deals will be profitable and are willing to do what it takes to make it happen.
We don't mind giving advice, but we don't like giving advice based on our experience only because we've made so many mistakes that have cost us time and money. We feel that honest advice is based on data, which ultimately leads you back to analyzing your own investment strategy.
There are many ways to invest outside your home country because real estate investing isn't specific to one place. You can invest in foreign real estate as an investor, a seller or buyer, as a landlord or tenant. There are many managers who serve more than one market and have the experience to do so. You can go into business for yourself and also have your property managed by managers.
Numerous people from all over the world are already investing overseas and are doing so successfully. According to Hurun Report, 66% of investors who live abroad say they buy overseas property; 39% invest in bonds; and 27% invest in stocks. Foreign investors account for more than $4.2 trillion in Chinese real estate with most of that coming from China's neighboring countries.
In summary, don't discount an agent simply because they don't live in the states, but do your research on which agent to choose and make sure that their data matches your own strategy. If you're planning to invest outside your home country, take some time to see if you can find a local agent who is willing to help you find a property. It takes time and effort to find an agent who can provide experience about the local market and its laws, which is very important for foreign investors. If you know that an agent's experience and knowledge match your needs, you should work with him or her to find a good property.
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