Renting out my first apartment and selling my first house

[Esteban Pau]

Hello BP people,

So today I got the first exciting news in terms of real estate in a while.

The house I am currently living in is divided into 4 different flats/apartments. 3 of which are all taken and being rented to family members. The owner of the house is my lovely grandmother.

My uncle is supposed to be renting out the last flat, which has been empty for almost a year now since he doesn't actually do anything to find a tenant. The flat is worth €1500 per month in rent and is includes 1 bedroom 1 decent sized living room, full bathroom, half bathroom (sink and a toilet) and a kitchen. We have been compensating this price to the lowest already in the hope of getting someone to rent it out.

I might have to include that I do not live in the states but in Luxembourg (small country next to France, Belgium and Germany) and that we live in a very urban neighborhood.

I talked to my family and told them about my interest in real estate and that I want to get involved eventually as a career to be able to quit my job and focus on real estate completely, and I got the permission to take over.

My other uncle is trying to sell his family home for a few months now and I haven't spoken to him yet but I am sure he will let me take over as well in order to get his house sold.

I will get more detailed information about both buildings by the weekend.

My question to you guys is, what advice can you give me?

How should I proceed?

Like always, every advice is a good advice.

Thanks a lot!!!

I'll look forward to hearing from you.