All Forum Posts by: Pavlos Kasselouris

 Real estate investing and socialist countries dont go good together...lol

I heard the other day they want to tax on rental income that was not received...loool

One of the many reasons I left...

The areas of Athens that are cheap, I wouldnt live there. What areas did you see the deals , so I inderstand where you were thinking.

The good thing in apartments in Greece, is maintenance is close to 0...that means that your holding costs will be minimal and you can wait for appreciation if we assume that the economy will eventually go better (10 years from now if you ask me)

Consult with a tax accountant for your taxes as a foreigner.

To rent out its a little tricky since tenant law is quite liberal. 

Personally because my wife and I already own real estate in Greece (Moschato, Myconos, Voula) from inheritance, I started investing in the rise of the economy through shares of national bank of greece. If real estate will go up 100% I believe that stock will go even more up. Check it out...

Unless you have other reasons you want to invest.

I can answer any questions you have

 Is this what you are talking about?

 Which lenders do that? Because I just refinanced a property and because of debt to income restrictions I wasnt able to cashout up to 75% of my equity. I was able around 60%. But then again he didnt do manual underwriting...

 So that means I will have to show in my taxes maximum cash flow??

How is it possible for someone with not huge earnings, to reach the 10 loans mortgages when we take into consideration the debt to income ratio requirements? 

Getting a pre-qualification letter is very fast and easy, and it will give you a very good idea whether you will be approved or not, just give true numbers.

Pre approval takes more time but it positions you better at the eyes of the seller and the agent if you are going to buy through a realtor. 

Just put the offer with the pre-qualification letter so you dont miss the property, and get an pre-approval asap.

Where?

I went ahead and applied to get a feeling about the rates. For a fourplex I used worst case scenario on purchase price, and had a rate of 6.5% for a 30yr, but low enough origination costs.

There are prepayment penalties for the first 3 years.

I might give them a try if I get stack with lower rates loans.