As a real estate investor, you have your eye on markets that are favoring buyers. In the last 3 years, the US housing market has been one such, and it does not matter if you are not a US citizen, you should look into the market to see how you can make investments. Just so you know, there is legislation that caters specifically to foreign buyers. Get your lawyer to look at it and depending on your country of origin, get all the relevant information.
If you want to know just how much you would spend on an average real estate investing deal, take a look at what the banks are listing as prices for repossessed homes they are very low, mostly because the economy is so depressed that there are few buyers. Low demand has created for low prices, but keep in mind that economies do not stay in recession for long. The longest recorded US recession lasted about 7 years. If you calculate from 3 years ago, assuming that the current recession will last just as long, you are making a real estate investment at just halfway in the recession period.
At this period, there are 2 extremes. There are those whom the recession has hit so hard that they are at their worst financially and there are those who are beginning to recover and snapping up cheap assets so that they can sell them later, when the economy revives and people have money.
As a foreigner you will enjoy the benefits of the latter lot. Take advantage of the foreclosures to ensure that you reap huge benefits in another few years is a smart move. Go for it, but at the risk of over-emphasizing, have lawyers look at American legislation and what it says about citizens of your country owning real estate in the US. It’s a wise idea to have lawyers familiar with American law have a look as well so that you can get complete information.
You might be a US citizen who may not be in a position to actually buy any foreclosure homes at this point but you may know a foreign citizen who can. All you need to do is work out the deals of a partnership and you are ready to reap when the economy picks up again. If you don’t have any money that you can invest in the business, offering to renovate and manage and eventually re-sell the properties for the foreign citizen is a way to make money eventually.
Take advantage of real estate markets in the US that have been hit hard with foreclosures like the Tampa real estate market.