Newbie investor from Norway

[Jon Åge Stakvik]

Hi everyone! 

I'm Jon from Porsgrunn, a small city in south of Norway. I'm 28 years old and I've never done a real estate investment. I'm now looking more and more into RE investing. 

My motivation for real estate investing is to find an investment that will beat the stock market while being a learning experience that will bring me closer to FI. The last years I've closely tracked my local area for deals and I'm now broadening my search to further away. 

My two greatest challenges to start this journey seems to be to first convince my wife to support the idea and second to dear to do the first investment. 

Right now I'm studying single family homes to rent out by the room for students. However, it feels like a dounting task to go from no experience to suddenly managing a house with up to ten units 5 hours away from home. I'd been very glad to hear someone else's experiences on this. 

Glad to finally be part of the forum after being a passive member for three months. 

Jon

[Morgan Nilsen]

Welcome to the forum! You have come to the right place if you are looking to connect with likeminded people. 

I have some experience as a RE investor and have real estate in 5 countries now. I have done some deals in Norway, but it’s very hard to do do buy and hold here and get good cash flow. The Norwegian tax code lends itself to live in flips however so if that’s an option for you, then you could do that without paying taxes on your sale, if you meet the simple conditions. 

I have 5 houses In Indianapolis, USA where I invest for cash flow. The houses I bought there were bought between $50,000-$65,000 per house and they all rent out for $800 or more per house. I find that it’s easier to invest in USA than it is to invest in Norway actually as you can outsource anything there at a cheaper rate. In Norway you are pretty much forced to do much of the work yourself. 

Happy to talk more with you about this privately if you like. You can contact me here on BP. 

I’m from tønsberg, and speak Norwegian, but live in Dubai most of the time. (Home in TBG for Xmas however 😄)