All Forum Posts by: James Taylor

Originally posted by @Morgan Nilsen:

Speaking as a Norwegian who invest in both Norway and in the USA, I can give you some information on this topic.

It is very unlikely that you will get a traditional mortgage in USA until you have a credit history for them to analyze. Building credit history takes a while. I was told by my bank over there that 2-3 years should do the trick. If you are serious about building credit history, you should learn how to do that as effectively as possible.

There are other ways to get loans though. Banks dont have to be involved. You can approach credit unions or hard money lenders too. Private investors might consider you too if you have a track record of success and if you can display experience prove yourself as a low risk investment.

If you plan to do flipping, you should seriously consider if its a good idea or not. It can be very profitable, but it can also eat you alive if you dont know what you are doing. Be sure to get all the information you can before you go down that path. 

If you own your own place in Norway, you can likely re-finance your home and pull some equity out to start investing in USA. But considering the fact that the NOK currency is very weak against the US Dollar at the moment, I strongly advise against that path.

the thing is i live in Norway, were in the US is the best place for buying property for flippin? Norway dosent have such a big market for flipping. The prices are high compared to the US, and the banks are hash on giving out loans.

i want to establish my personal trainer business. Then get a rental in Norway so i have more capital.

the US is the place for real estate investing as i have found comparing Norway to the US

Originally posted by @Ricardo Rosales:

Do not risk your mothers assets or networth, your fist flips could go horribly wrong (It happened to me), start by wholesaling and raising your own capital, but DO NOT RISK your parents life savings. 

Get educated and start networking with professionals in your area, ask house flippers to be their helper and learn by helping them outfor free, if they see your help is worth then you will get compensated, thats like going to college without having to pay a dime for it. Is the best way for you to get started before you risk someone elses money.

I encourage you to continue with your goals and seek for advise, If you learn from the pros at the beggining, your future is bright!!!!!!!!