Hey 18 year old thinking of buying rental place any ideas?!?

[Erik Solberg]

I make it short so i dont waste much time i am from norway i have 37k dollars to use the bank will get me loan between 180k and 200k dollars including the 37k any advice buying first property?

[Abbie Gibson]

@Erik Solberg Hey Erik! Nice to see more young people getting into real estate. I'm 19 and just bought my first property, so I'm open to talking about real estate, message me if you'd like to chat :)

I'm unsure about the loan options in Norway. Here in the US we have FHA loans if you're going to live in the property which boast only a 3.5% down payment. I would check if there are any options like that available in Norway.

Also, banks may be willing to accept a lower down payment on a house if it is a multiunit and other units are already leased when you buy it. This way the bank knows you already have some definite income coming in, so you may be able to stretch your money farther and leverage more. Let me know how this works out and if you have any questions.