All Forum Posts by: Emiel Sleegers

Hey everyone.

I was wondering if hard money lenders is a thing in europe (i want to invest in the uk and nl)

I have looked a lot on google but i can not find a clear awnser on it which seems strange since here on BP you have a nice list of hard money lenders in the us.

@Jeff Rabinowitz Thanks. yes i am still reading a ton of books,posts and watching videos etc. just wanted to get some importand questions awnsered in the mean time.

and yes since i'm starting out i do not have a portfolio yet to prove lenders that i do not just waste their money.

Hello everyone.

I have been looking for days now on the best way to get the money to buy my first property.

I want to go for an easy fix&flip where i only need to re-paint, do some flooring and general fix-ups.

So i have a few problems.

I do not have a driver's license (never had time to get one) so it needs to be close-by

I am 20 and have only been working full time for a year + 2 years freelance before that.

And the area i'm in is fairly expensive with an avarage price range in 20 miles for 90-120k (thats pounds so that's around 120-140k dollar)

And i only have a small 5k savings.

I have only been living in the uk for only 7 months now so i still do not know all the rules but i was wondering if any of you can give me tips on the safest way in getting the money for my first property. (I do not know any rich people or private investors btw)

I am sort of terrified that when i borrow money that something goes wrong and i end up paying a big part of my paycheck to my depth for the next 20 years. i know there is always some risk but any tips would be helpful to minimize that.

@Larry Turowski

Yes the thing is i'm still young so i have a small 4-5000 euro as a "reserve" but that's also my savings.

I'm not sure yet but i think that i'm going to do wholesale and fix&flip

those look like the best option for me.

@Hattie Dizmond thanks for the info! there is so much info out there, i'm reading a real estate for dummies right now. but i will definitely have a look at the rest.

@Larry Turowski

Thanks for your awnser larry. it defently helps!

i was wondering, what would you consider to be a good cash reserve amount?

-Emiel

Hello everyone.

Since this is my first post on biggerpockets i would like to introduce myself.

My name is Emiel Sleegers.

I am currently 20 years old and originally from the Netherlands.

When i was 19 years old i managed to drop out of school and move to the united kingdom to work full time for a multi million company (my biggest achievement so far)

I started to actively look into real estate for about a month ago and i'm still in the progress of reading books,watching videos and podcasts etc.

So i had a few quick questions that i did not yet found in the books etc.

1. Is there a big risk in investing with 0 money down? (with lending etc)

2. what happens if you lend money from a hard money lender and something happens that caused you to not be able to pay him back in time?

3. How do you actualy know if a property is under market value? can you calculate it or is it something you get an eye for after a while?

also i would like to know what you guys think is the best way to start investing in real estate as a beginner? i do not have the time to become a landlord so my idea was to not buy to rent but more to do wholesale or fix&flip.

Are there maybe any real estate investors that read this that are from the netherlands or the uk that i can maybe add to skype orso? since most topics on books and video's of real estate are focused on the us and i'm not sure what systems are the same in europe as in the us.

Hope to hear from you guys soon and i am excited to start getting involved in real estate and this community.