Quote from @Bob Stevens:
Quote from @Ali Nurmohamed:
Quote from @Bob Stevens:
Quote from @Ali Nurmohamed:
Is 5k enough to get started in real estate?
I currently live in the Netherlands. And have 5k I want to get started, but I am 18 years.
Over the past year I’ve tried to absorb as much knowledge as I can. But getting a loan in the Netherlands is quiet different than in the USA. You have to go to a real estate bank and have to pay the loan bank in 5 years when investing in commercial and 10 years when investing in residential.
I’m willing to invest outside of the Netherlands, but my questions still is is 5k enough?
No, cant do anything with 5k. Being that you do not live in America, have no experience or money really not sure what you are going to do.
BTW My fiancé is from Utrecht I was there twice last year
What is the minimum to get started?
I will wholesale till I have the required amount.
Well learn how to virtual wholesale, But I get contacted by guys with zero experience, no nothing about the area or property I simply hang up. How are you going to " walk " the house? How you going to price the reno? Also, you cannot buy in America unless you have a relationship with a bank here.
All the best to you
I will try it in the UK or Germany, but that is kind of interesting
What do you exactly mean with you need a relationship with the bank?
I always thought you could walk in with a business plan and they will give you a loan if it gets approved.
Hope you can tell me more about it :)
oh yeah before I forget it. How does it work with a MLA is it possible to lease for example a apartment building that is appraised to be 400k how much of a down payment would you need approximately.
Btw thank you for your honest opinions and expertise I really appreciate it.
