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Updated over 4 years ago,
My first steps in the RE world - I need your opinion!
Dear people of the biggerpockets community,
The first steps have been made! It was hard for me to know where and how to start in the world of real estate but I finally have some goals to direct myself towards. In this post I like to update you on that and I also have a matter at hand that I need some outside opinons on.
The following three months I will be working for my uncle in his church-to-be-house and get some hands-on skills. He will pay me a small amount for the work im doing in the coming three months (tax free & legal because you are allowed to send someone a ''gift'' every year in the Netherlands). Next to that, I also have an exciting connection with a young real estate investor (27 years old) who is willing to teach and help me get going. I am very happy with this opportunity but there is also something that makes me wonder if I am (if only slightly) taken advantage of because of my labor.
Namely, he said to me today that if I would work 3 days a week for him, he would be able to pay me 2 days, for 7 hours, 10 euros per hour. This either makes me work for a total of 6,7 euro an hour over 3 days or I just spend a whole day of my week working for free for him. This should be enough to sustain myself, but I wonder if it is a fair deal. Of course, working with him is an investment on itself but I am also not very good in negoiating yet, and tend to be too agreeable. What do you think of this? So far the work I have been doing is usually a lot of basic stuff: stripping a house, carrying stuff up and downside stairs, removing floors -> good skills to have but not enough to become a real estate invest myself. Should I just be happy for now with this agreement or should I request for more?
Either way, in the year of 2021 I decided that I will save up money to pay off part of my study loan and buy a house in 2022. I am looking forward to house hack and hope its also a possiblity in the Netherlands. Anyone knows more about this?
Lots of questions, lots of info. But I hoped you enjoyed reading nonetheless.
Looking forward to your reply!
With best regards,
Nienke