All Forum Posts by: Kim M.

@Severin Sadjina Isn't this what you've been working on?

Hi @Severin Sadjina 

When it comes to Austria I'm uncomfortable with the strong legal situation the tenants find themselves in, with laws and regulations slanted towards them, as well as a very active national tenants association (Mietervereinigung) that will take landlords to court. In combination with a gross rental yield of just under 2,2% it's not worth the risk or the return.

The Norwegian market has been driven by low interest rates and an oil driven optimism. The fall of the oil price has stabilised at under half it's previous "normal" price, yet people have been buying like they're running out. This has lead to a rise in the Oslo market of 24% in 2016 pulling the prices in the suburbs of the greater Oslo area with it (Which encompasses about a fifth of the population). 

That was the situation when I wrote my comment three weeks ago. Since then new sales price reports have emerged showing a real drop of 10% in real estate prices in Oslo since January. It can look like the bubble might be about to collapse. Here's a link to an article http://e24.no/makro-og-politikk/renteraadet/sjefoe...

I'm not going to call myself an expert on the US market, but from what I've read buying a USD 50.000 SFH might be like purchasing the sword of Damocles. A house like that is likely no in the best of areas and might not attract the best tenants. Even though it might cast off rents of USD 1.000/month, the state of the house could soon cost so much in maintenance and capital expenditure items that you have a negative cash flow situation. You might want to look at something a little more expensive.

I'll send you a colleague request, would be interesting to stay in touch and see how it goes.

Best regards

Kim

Hei @Ola Rask, takk for hälsning!

I agree with you, the places that have proper returns on investment in Europe are out of my comfort zone. Hungary, Portugal and Spain are a little overwhelming language-wise and from a legal, as well as practical standpoint. Whereas Germany, Austria and Sweden have tenant regulations that make these very unattractive markets. Not to speak of the overheated Norwegian market.

I wish you luck in your endeavours of setting yourself up in the US, personally I will be investing from afar. Which of course also has its tax benefits. I'll allow myself to send you a colleague request. Would indeed be interesting to keep in touch.

Brgds Kim  

Thank you @James Wise, I watched the podcast featuring you. You have an interesting story and I'm impressed by your company.

Thank you very much, @Michael S..

Thank you for your interest. I am a well traveled BS graduate from Northern Europe and have lived in several European countries as well as Singapore. I currently work in consulting specialising on cross border business within the EEA structure. I have previous experience from the HoReCa sector and have served as a professional soldier in the Norwegian Army. I have held non-executive positions on the board of directors of entities in several sectors. 

I have no previous experience in hands on real estate investing. I have however held a non-executive position on the board of directors of a Norwegian company managing a portfolio of commercial properties to a value in excess of 110 million USD. Furthermore I have worked with large construction companies on road, railway, tunnel and bridge projects. At the very least I know my way around a building site and a little something about the thinking, planning, estimation, bureaucracy and evaluation that goes into a construction project.

After receiving a modest inheritance I was looking for an investment opportunity and turned to real estate as an asset class. Having looked at the ROI in European countries I expanded my research to other English-speaking countries. The US market has a combination of business and government transparency, as well as attractive ROI potential. And that's how I landed here. -After about a hundred podcastst on Youtube.

Last, but not least, I have had a fascination for the US since spending my youth in the Boy Scouts of America and gaining my Eagle Scout rank.

So, what am I looking for? Primarily I'm looking for turnkey companies that provide a BRRR option as well as property management. Being an out of state investor in every state, I'm looking for cooperation partners who want to build a lasting business relationship and are keen on repeat business, as well as tips of lenders who will work with LLCs in foreign ownership.