BRRRR project in Belgium

[Lau Riv]

Hey fellow BP members from Belgium.

I am looking to do a BRRRR project this year in Belgium (Flanders).
WHY: As i will only pay registration rights (10%) on the value of the house (120-170000€) compared to buying a renovated house which have values up to 250-300000€. This way i don't have to spend too much of my own capital.

FINANCING: for the house: I will get a 90% loan from the bank for the house and put in 10% of my own capital. For the  renovation i plan to loan 70000-100000€.

If i understood correct, refinancing in Belgium is different than in the USA, you can't refinance your home and get the  extra equity in cash.
Although, when the project is finished and its being rented while cash flowing a few hundred €, these rental incomes can be used to apply for a new loan to finance a next investment.
Are there any Belgian people that have any experience with similar projects in Belgium? I would love to hear how it went and any tips are welcome!

Cheers Lau