Introduction from Sweden!

[Hampus Langendorf]

Hello everybody!

My name is Hampus, I am 22 years old and live in Sweden (in a suburb around 30 min north of Gothenburg, if anyone here knows Swedish geographics). 

A little over 3 years ago I bought my first (and so far, only) rental property will still living with my parents. I was initially looking to buy a home for me to live in, but realized quite soon that I would much rather invest my money in something that made me money instead of costing. 

It is located in Orust, a quite popular vacationdestination in the summers. It is a small house around 52 m2 (Screw your imperial system, metric for the win!). It was built as a summervacationhome, but you can live in it during the winter too without any problems. 

My initial plan with this house was to rent it out using Air B'n'b during the late spring and summer, and find someone to rent it for the remaining 8 months of the year. Cashwise this went very well, but after two years I gave up. It was not worth the work - self maging a vacationrental is a lot of work. And while there were a lot (and I mean a lot) of people wanting to rent the house for the 8 months off season, it was impossible to keep them renting for the entire time. Since it was only 8 months, they were actively looking for another place and moved as quick as they found one. So after this years summer I decided to turn it to a ordinary rental. They have lived there for almost 4 months now, so far so good. 

In Sweden you need a 15% down payment to get a loan from the banks. I did some calculations for fun like a month ago, and realized  that this means if the house appreciates 10%, your cashequity increases 66%. If you sell after a 10% appreciation, you then have a downpayment for a 66% more expensive house (quickly calculated, not including salestax or closingcosts). With this in mind I am considering selling this house, free up cash, and then have enough downpayment to buy 2 equal houses. We'll see what happens!

Well, that was a short introduction about me and my investment. My plan is to expand into more rentals, to one day live off of my rentals. 

Feel free to ask if you have any questions.

Thank you, hope to see you in the forums :-)

Best regards, 

Hampus