Newbie looking for game plan in European market
Greetings!
I am a 32 years old
Single and unemployed.
The best financial purchase I've made has been my house and I want to continue with real estate.
I have 40,000usd in cash
And 40,000 in investments, stocks, metals, cryptocurriencies (which I don't want to sell until prices rise, but 15k in metals could be sold anytime and am labelling them rainy day fund for my house)
I have a single family home in the Pacific northwest which is valued around 250,000
Which I owe 150,000 on, FHA at 5% interest 30yr fixed (20 years remaining)
I have it rented out and receive 2600/month from it (because it includes a workshop)
The mortgage payment is 1400 leaving me with 1200 in profits and I live off of an average of 1400/month (spending 200 of my savings/month)
I have a friend with money who could be interested in investing with me. He's mentioned numbers like 250k.
I love Europe, I want to live in Europe.
I am especially interested in central/eastern Europe and the Balkins. Budapest is my favourite city, also could live in Poland or Belgrade, Serbia. Interested in Bulgaria and Romania but haven't been there yet.
I want to live in a European city and I want a job in real estate, not just an investment.
I can throw a hammer but am no professional. I am strong, willing to learn, work hard, and have 24 hours a day to give. I have basic experience like framming some walls, hanging sheetrock, painting.
My goals are to create something I can pour my energy and creativity into and to work with people, not just behind a computer.
Finaciallly I want to become well off.. I want my income to eventually increase to about 10,000/month in the next 5 years.
I've been traveling as an expat for 3 years or so but am ready to settle down in a European city for at least 5 years or longer now.
I like the idea of finding distressed apartments, renovating them (doing as much work as I can myself) and renting them as normal rentals or short term vacation rentals, or flipping them if the numbers make sense.
I am curious to hear your thoughts, opinions and suggestions. Thank you in advance for your time and wisdom!