New Investor in Oslo, Norway!

[Jakob Pedersen]

Hello All,

This is my first post on Bigger Pockets! Been following the podcasts and cruising through the forums the last few weeks and figured it was time to add my own verse. I am from Seattle, Washington but am residing in Oslo, Norway for the next 6 months. I am looking for other Bigger Pockets members in the Oslo area, and to gain some experience while I have some time off! 

Wondering what the most constructive and effective way to use my time is in regards to learning the most I can about real estate. I am interested in flips and buy and holds and am wondering if it is possible to do both in both countries? Does anyone have any information about where and how foreclosures and wholesales work in Oslo? Also wondering if there are any programs for first time home buyers or any other advantageous ways to make a deal here in Oslo? 

[Account Closed]

Hi Jakob,

In regards to finding good deals in Oslo, a tip is to look for apartments that have previously been used as apartments for the poor by the local government. When an apartment in a government owned complex is coming up for sale in a bad neighbourhood this often means that most of the complex is coming up for sale and that usually brings the prices up in the whole neighbourhood. As an example there have been several fixer uppers sold in a complex in "Tøyen" for the last 3-4 months, and I see that these have been fixed up and is now being re-sold with an 50% price increase. Foreclosures is almost a non excisting market here in Norway now a days, the few that are foreclosures,  are sold at marketprice through an agent just like any other property.

The most effective use of your time is to get to know people who owns a lot of property and learn from them. Then you might be able to get some good deals as well through the same contacts. And of course, it also helps knowing local real estate agents.

Good Luck,

Br

Vegard