All Forum Posts by: Dunstan Midlane

Hi there,

The system has suspended me for sending the same message to a number of people. It thinks I was spamming whilst in fact I was asking for permission to reprint articles and also trying to connect with people in my area.

The system says I should contact an administrator if I think that I have been blocked in error, but I cannot find a way to contact anyone, especially seeing that I am blocked from messaging.

Could somebody please help me? I would really like to be unblocked. :-P

Thanks 

Dunstan

Hey @Richard C. 

Haha, well certainly in France and in Spain there are some "interesting" places to stay. Also some really awesome places for that matter. It really just depends on the owners financial position and whether he will use any of his money to create/upgrade/restore his rental property.

But as far as sea views and beautiful coastlines are concerned, you have gone to the better parts of Europe. Holland's coastline is just a little less pretty ;-P

Hey @Erik Noordam,

Thanks for the read. Interesting.

Hey @Thierry,

I have a few questions for you.

Where about are you active in Holland?

And what sort of real estate do you invest in most?

I'm happy that I have found someone on this website that is active in Holland. I like the idea of learning a bit about what someone else is doing here. Someone that has gone before me and has "made it".

Take care

Dunstan

Hey @Richard C.

Could you give me an example of where you have had such bad experiences? I know that you do get pretty crappy places in Europe, but you have rough neighborhoods in every country.

I am just interested to know if you have stayed in The Netherlands and had a bad experience with sub-par buildings. Purely for interest's sake.

What I can say about construction standards in the EU is that you have construction standards and construction reality.

In Holland the construction is very well regulated, but even here there are many old buildings that are often not ideal for habitation.

And in poorer countries in Europe there isn't the government manpower to enforce building code, which can result in poor quality (or even downright dangerous) buildings.

But anyway, even this is a gross generalization. To say that the US or the EU is better or worse is impossible. Some countries (or parts thereof) are far better off than others which results in enormously varied construction reality. ;-)

Cheers

Dunstan

@Erik Noordam

Perhaps "FREE" was the wrong word, but if I am renting a out a property and my tenant doesn't pay for four months, I am certainly not going to be happy... even if I can attempt to claim the unpaid monies at a later stage. Should it prove too costly or too much trouble to collect the monies owed, then the tenant has lived in my property (for up to one year) for free. That is what I was getting at. And even if am able to collect the unpaid monies, the tenant has still managed to cause me an enormous hassle. 

As far as housing in the social segment is concerned, I never mentioned anything about "risk free" investments. Having the government subsidize the income of a tenant is much safer than hoping that the tenant keeps his job. And as I said, due diligence is still vital. I may be a student and I may be inexperienced, but I know that there is no such thing as a risk free investment...

You are quite correct about the lack of free market rentals (especially between €700 and €1000), but I am interested to know where you have found your statistics about social housing. To the best of my knowledge, every corporation in every major city in The Netherlands has a waiting list for a social home of at least 2 years.

Sorry if I come across blunt, that is not my intention. I just wanted to clear a few things up because it was apparent to me that you didn't understand what I was saying (perhaps I wasn't as clear as I thought I was).

Cheers

Dunstan

 Hi Jeremy,

As far as your dual nationality goes, I wouldn't hesitate with applying. I have dual nationality and believe me, it is a blessing. Even if you never move to Germany, you can travel freely throughout Europe with an EU passport.

I am a real estate student (third year BBA) in the Netherlands. Two of the classes that I take are law for real estate and tax law for real estate. I am pretty good at both subjects and would happily answer any of your questions, should you wish to look at Dutch investments.

What I do know about investing in The Netherlands is that, contrary to what you may have heard, you can get a mortgage relatively easily. The days of 107% mortgages are long gone, but 80% - 90% is still common and rehab can be included. Lenders do have strict requirements, but I imagine that the requirements here are not that different to the US.

What is appealing in The Netherlands at the moment is the extremely low interest rate. Mortgages can be found with interest rates as low as 3,5%.

Something that is worth noting is that in Holland the laws regarding rental (of homes in particular, but also certain commercial properties) are very specific and "protect" tenant.

These laws make eviction a very painful process. If, for example, somebody fails to pay his rent after living in your property for one year, he has four months of legal protection. He can live, rent free, in your property for four months. And the longer that he has lived in your property, the longer he enjoys this "protection" (it is one month per year that he has lived in your property, with a maximum of one year).

But don't let this scare you off. In the lower income segment there is a drastic need for rentals, especially for rentals between €700 and €1000 per month. You have got the privilege of hand-picking the most suitable tenant.

The other great thing about Holland is that most people earn a decent salary and credit screening is easy. If you do your research and/or hire a competent realtor, you will be able to find good tenants easily.

Lastly, if you are looking to invest in cheaper properties and are happy with a lower, yet very stable return, you can look into investing in social housing here in Holland.

Social housing has a maximum rental of close to €700 per month (excluding everything like gas, water, insurance etc). These houses are specifically reserved (by law) for people that earn less than $33.000 per year. The advantage here is that the government subsidizes the rental payments, making sure that you have a very reliable tenant. And of all of the classes of rentals in Holland, this one is the most sought after. In Amsterdam, for instance, you can wait on a waiting list for seven or more years before getting one of these homes.

I hope that this helps you a bit. If you have any further questions please don't hesitate to send me a message.

Cheers

Dunstan

@Erik Noordam thanks for the tips as well.

I am studying Vastgoed en Makelaardij. I am in contact with a number of professionals, but have not yet had any luck with finding a financier.

My problem is that there aren't any investors at our school. Flippers, valuers and real estate agents aplenty, but no investors.

But anyway... the lack of investors has only made me more motivated to find myself a mentor and financier outside of school.

So thanks for the reply and I am certainly putting your suggestions into action.

Cheers

Dunstan

@Dmitriy Fomichenko, thanks for the tips. I have read the guide and a lot of it is not applicable in my area because of different laws etc.

But what the book has done is given me food for thought and hopefully I can use some of the lending strategies in order to find myself a financier.

Thanks again

Dunstan

Hi Thierry,

Yes I know that the Dutch regulations for lending are strict. And I have been looking for alternative sources of financing, have not yet been able to find something.

I am not familiar with the use of seller financing here in Holland, but I am sure that all I need to do is find a private investor that likes my business plan.

Once my business plan is complete I will send you a copy for you to have a look at. I really appreciate your offer.

Thanks again and I will keep in touch

Dunstan