All Forum Posts by: Marjo Naci

What you are saying can be done, and at 18 in many states, you are legal to contract to buy a house. Closing on a property over the phone is not something you can do… but you could work via FedEx, etc to sign papers. Being a non-citizen it would likely be best to hire a lawyer to assist you with the paperwork. Financing a property not being a citizen would likely be challenging… as well as having a credit score that supports such an endeavor… but those are items down the line you will learn about.

With that said, are you planning on living here after that? If not, you may want to consider buying a property in your home country, as it would be much easier to look after and deal with that having to have a property management company manager for you in the United States. I don’t know the first thing about Albania, but real estate is rented in every country… You would have to do a comparison between the two to see which one works better for you. I think it would be easier for you to deal with a property in your home country versus internationally.

It usually takes about 20% down to buy a rental property in United States. So for each hundred thousand dollars your property cost, you will need about $20,000 of money to put down on the purchase, plus closing costs … The expenses it takes to put the property in your name.

Until then, keep learning and congratulations on being interested in being financially successful at such a young age!

Here are a couple of bigger pockets guides to help y’all on your way:

https://www.biggerpockets.com/guides/ultimate-real-estate-in...

https://www.biggerpockets.com/blog/wp-content/uploads/2022/0...

All the best.

Randy.

Hey Randall,

Thank you for your response. I am not sure if I will be living there. I am thinking of working with a wholesaler, funding the deal with a private lender and selling it after it is fixed and its appreciation has gone up.

Albanian Real Estate is 'hard'. If we are talking about fix and flips, it doesn't work here, everybody lives on apartments .Long Term Rental, no again: Avg apartment cost: $100,000 ; avg rent: $300 (not even close to 1% rule). Short term rentals work pretty good but they require %20 down and it's risky, while fix and flip can be 100% financed by the private lender.

Also, fix and flips are faster in building wealth.

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Hey Biggerpocekt community,

I am Marjo, I am 15 years old and I live in Albania,Europe. I want to make my first fix and flip when I turn 18, so here's my plan:

First 3 months of the year (I will be in school) I will try to find a deal and close it on the phone. During the summer, I will come in usa, fix the property, refinance it and sell/rent it (in 3 monrhs). What are your advices? And is this legal to do?

P.S I know it is going to be difficult, but it isn't impossible (only if it isn't legal).

Appreciate it.

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@Jerryll Noorden

Hey, i have sent you the message. I do not know if you saw it.

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How does century21 work?

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@Jerryll Noorden

Hey Jerryll, can I send you a dm?

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@Jerryll Noorden that is a really interesting point of view! My question, if you don't mind sharing, is that how do you achieve that? Especially, motivated sellers coming to you!

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How to build a investor wholesaling list?

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Is it possible to fix and flip a property without being present?

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Hi! I am Mario, 15 year old, from Albania. I am highly interested in RE and entrepreneurship, and I have been learning them for 2 years. I have recently opened a digital marketing agency and for now I am focusing on finding 1st client and trying to build some capital. But I also have a burning desire to start my RE journey next year with one rental property (multifamily), when I turn 16. All i have that i can invest right now, are $3,000 from my savings. What do you recommend me to do?

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Recently I have seen some GREAT deals with huge cashflow and they seem too good to be true. For example: 17 units for $700,000 . Gross Rent : >13,000$ . What do you think?

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All Forum Posts by: Marjo Naci

Marjo Naci has started 38 posts and replied 57 times.

Post: First off-market Fix&Flip

Post: First off-market Fix&Flip

Post: How to build an investor list?

Post: How do real estate franchise work

Post: How to build an investor list?

Post: How to build an investor list?

Post: How to build an investor list?

Post: Fix and flip remotely

Post: What should i do?

Post: Starting out with multiple units