Business here is done differently and it would have taken some time to get familiar with as a foreign investor. Luckily I have a super sweet partner who knows how things are done, what to look out for and who to ask about things. Helps out a lot!
I’ll give you and example. I don’t really know all that much about this just yet, but back in 2008 there was a Federal takeover of Fannie Mae and Freddie Mac. Somehow that has resulted in some houses now being called Fannie Maes and Freddie Macs. If they are referred to as just that there are laws saying you as a buyer have to live in the house for a minimum of 1 year before you can rent or sell it. A hiccup like that can be a smaller disaster for an investor like me.
So. Thank god for my awesome partner! Thanks to her there is already an offer on the table that could have us ending up with a great investment that I will tell you more about later.
All the best!
