New member from Europe wanting to get started in real estate

New member from Europe wanting to get started in real estate

Belgium · Member since 2021 · 2 posts · 3 votes

Hi everyone! I just joined Biggerpockets and thought I'd quickly introduce myself before spamming the forums with all of my questions.

I'm Alexia and I'm from Europe, more specifically from Belgium. I am a marketing student specializing in international business and will be graduating next year in June. I'm also self-employed and running a full-time photo editing business for wedding photographers, which allows me to be location independent.

The reason I joined BiggerPockets is that for a while, I've been very interested in real estate, more specifically in house flipping and short-term rentals. We (my boyfriend and I) are trying to save up as much money as we can within the next 2-3 years and want to invest this money in real estate and are looking into what would be the best ways for us to do so. He is very much a handyman, he's a certified electrician and plumber and is experienced in other fields as well. I am also pretty handy (although not as experienced as him) but as opposed to him, I'm the one who also likes to do all of the research.

I am planning on moving to the South of Europe (probably to Portugal) when I've finished college and that's probably where we'd then want to start flipping houses/apartments and then sell these or rent them out. I want to make sure I know as much as I can before actually getting started with it so I can avoid as many beginner mistakes as I can.

We are looking to see what would be the most feasible for us to do and what the best way to invest in European real estate is in our position. I've already done a quick scroll through the forums and am so excited to broaden my knowledge on this topic and learn from all of the amazing people that are on here!

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Brandon GoldsmithBusiness Member
Real Estate Agent · Columbus, OH · Member since 2020 · 1k+ posts · 1k+ votes
5y

Welcome to BP! There are plenty of resources on here to start learning, it is more US-focused but there are still a good handful of European investors on here. There is also an International RE forum where there is a lot more questions about Portugal specifically. @Alexia M.

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  • Brandon GoldsmithBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2020 · 1k+ posts · 1k+ votes
    5y

    Welcome to BP! There are plenty of resources on here to start learning, it is more US-focused but there are still a good handful of European investors on here. There is also an International RE forum where there is a lot more questions about Portugal specifically. @Alexia M.

  • Member since 2020 · 301 posts · 80 votes
    5y

    Hey @Alexia M..   Welcome to BP!  I second what @Brandon Goldsmith posted.  Ask your questions, people here want to see you win!!  If I can help moving forward, feel free to reach out.

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    5y
    Originally posted by @Alexia M.:

    Hi everyone! I just joined Biggerpockets and thought I'd quickly introduce myself before spamming the forums with all of my questions.

    I'm Alexia and I'm from Europe, more specifically from Belgium. I am a marketing student specializing in international business and will be graduating next year in June. I'm also self-employed and running a full-time photo editing business for wedding photographers, which allows me to be location independent.

    The reason I joined BiggerPockets is that for a while, I've been very interested in real estate, more specifically in house flipping and short-term rentals. We (my boyfriend and I) are trying to save up as much money as we can within the next 2-3 years and want to invest this money in real estate and are looking into what would be the best ways for us to do so. He is very much a handyman, he's a certified electrician and plumber and is experienced in other fields as well. I am also pretty handy (although not as experienced as him) but as opposed to him, I'm the one who also likes to do all of the research.

    I am planning on moving to the South of Europe (probably to Portugal) when I've finished college and that's probably where we'd then want to start flipping houses/apartments and then sell these or rent them out. I want to make sure I know as much as I can before actually getting started with it so I can avoid as many beginner mistakes as I can.

    We are looking to see what would be the most feasible for us to do and what the best way to invest in European real estate is in our position. I've already done a quick scroll through the forums and am so excited to broaden my knowledge on this topic and learn from all of the amazing people that are on here!

    You are in the right place Alexia!

  • Belgium · Member since 2021 · 2 posts · 3 votes
    5y

    @Brandon Goldsmith @Ash Fields @Dmitriy Fomichenko Thank you so much! Already very grateful for this website and its community. Will be learning a ton!

    Alexia Maes

  • Member since 2021 · 3 posts · 0 votes
    5y

    Hi Alexia, 

    I'm also Belgian, doing some small projects in the flanders. My father also used to flip some real estate in Portugal a few years ago.

    I think Portugal is quite interesting at the moment, due to the pandemic there is low demand for short term rentals which gives you more negotiating power.

    However, having an income in Belgium will make it hard to get a bank loan. Belgian banks will ask for collateral in Belgium (if you already own smth in Belgium, it will not be a problem).

    While Portuguese banks might say your Belgian income doesn't qualify for a Portuguese loan.

    That being said, cash payments are definitly possible but then you will not be able to leverage your down payment. Nevertheless, if you get creative with your financing, I am sure you'll find a way. 

    Kind regards, 

    Victor Martinez

  • Antwerp, Belgium · Member since 2018 · 25 posts · 11 votes
    5y

    Hi @Alexia M. nice to meet you. I am also living in Belgium and investing in real estate locally. But also traveled to portugal for several weeks to discover it as a great location to FIRE once we have built up our RE portfolio.

    If you have any questions about the BE real estate market, shoot. What Victor says might be a concern, even if you move to portugal and want to invest locally you might want to consider moving your company too so that banks start trusting you. The paperwork in Portugal seems to be a hell is what I have heard from several people who moved there so you might want to already start learning portugese  in the mean time :)

    Btw in portugal I also looked at real estate. Prices have risen a lot due to the rise of tourists and foureign investors. So you might want to focus on growing area's or short term rentals with a unique feature if you want to compete close to Lisbon.

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