All Forum Posts by: Rikard Lorén

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Hi!

@AJ Shepard

Yes, Property Manager, thanks for filling in the right word AJ.

To become a real estate agent in sweden it seems that you have to go in school for about 6 months to a year depending on the speed of your studies, and then you have to work at a certified real estate agency for 10 weeks before you are "done" and can start working as a real estate agent, i'm unsure if this is 100% true ( just googled it ). Selling has never been my call.

I'm unsure, I guess the goal is to become a investor myself and be in the deal from the beginning. I'm just thinking about if I syndicate deals later on and take a 10% equity place once the investors have their money back, won't I "take %" from myself if I invest along side with them in the beginning? 

Example 1: 9 investors @ 11.1%, once they have their investment back, my business takes a place as equity partner and recieve 10% of the deal. Now the investors have 10% each and my business has 10% equity in the deal.

Example 2: 9 investors 11.1% ( including me ), once they have their investment back, my business take a place as equity partner and recieve 10% of the deal.
Then my 11.1% drops to 10% because we have another equity partner ( my business ). Therefore I "steal/take %" on the deal from myself ( and the investors ). I'm missing something ?

The plan is to start to invest during or once I finish school/education. Once I have some investments up and running for around 2-5 years I can show how I bought them where they were and where they are now ( performance ) and how much they cashflow. I then present a businessplan and show them what the next project will be about. I was thinking targeting business people / meet them at events and so on as primary investors.

That's the reason I went to school/education to learn about real estate and how it works with laws and so on here in Sweden. The plan is to work at a good/bigger company that today own what I want to set sails on. At the same time as I'm working, I will use what I learn at the company and use it private to build my own business side by side of work. 

It seems like there are many Real estate investors in the U.S.A, not alot of them in Sweden compared at least or I haven't looked hard enough, will try to find a mentor in the future if I can find someone.

Thank you for your thoughts, AJ


@Matt J.

Main thought is to have it as a engine to provide cash for the real estate but at the same time, if i don't succeed, I have wasted the time that I could have had put into real estate investing. I get tempted while seeing those adds/people.
Same with youtube automation ( take free music and pics and make videos/motivation speeches and so on ) but it feels wrong to take avantage of other peoples work eventho it's free.

Yes, long term, that's the plan. I just feel that a business would get me there faster/increase the wealth.

That's the reason I went to school/education to learn about real estate and how it works with laws and so on here in Sweden. The plan is to work at a good/bigger company that today are where I want to set sails on. At the same time as I'm working, I will use what I learn at the company and use it private and build my own business side by side of work.

Real estate is what I like and what i want to do. I think putting in all my time 100% on it will be best for the long run but still unsure..
I have for a long time watched Ken Mcelroys books/videos & Grant Cardone. Multifamily rentals is the niche and goal, i'm thinking about the endgame goal and how I can get as close as possible to the same buildings but in smaller scale. what I have come up with so far for the first investment is: Get as close as possible to a 6 unit building translates into 1 house with 6 bedrooms and rent out the rooms so I have 6 "smaller doors" since a 6 unti building will cost to much to start with, would you sat that this is a bad idéa or a good start ?

Thank you for your thoughts Matt !

@AJ Shepard

Hi Angel! The position is a salary position: Real estate Manager, you work for the Real estate owner and taking care or the property, meet new renters and sign contracts, increase rents and reduce expenses/presenting investments for the owner etc. starting salary is around 3.800 dollars per month.

My endgame goal is to build and own a community like in the tv-show desperate housewives/gated community with gym, customerservice desk but with lowrise rental buildings. My original thought is to have this end game goal in mind and working my way back and begin at the first step. to achive this as fast as possible, i feel like I should focus 100% on the Real estate side of it all, still tempting tho when you see people dropshipping/affiliate and earn +2.000 per month after short time...I'm missing the engine to fund the deals but my thought is to be a syndicator further down the road and buy more expensive communities and take a position in the end of the equity.

Wow, 2 weeks huh, sounds nice if my education was 2 weeks instead of 2,5 years :D

Thank you Angel for sharing your thought on the topic!

Currently i am in school to be a Real estate manager. I got 2 years left and is currently saving money while going to school.

I see so much of "start your dropshipping/shopify" and start to earn 2 k per month in 90 days, tik toks where people show "this is my monthly earnings after 6 months of dropshipping/shopify/affiliate marketing/ecommerce/stocks/trading" -->shows income/earnings of 40.000/high numbers<--

So in my mind i feel like i could have sooo much money if i started a online business/onlineshop while studying. At the same time, my goal and what i like is real estate and that is what i want to build a empire on in the future. Where should i put my time/focus?

I feel that if i start a business i could then earn much money once my business starts to get going and i will have a nice/good engine to provide cash for the real estate  investments. At the same time I feel that i should give ALL focus to real estate so i know as much as possible so when a chance comes in front of my mind/eyes, i won´t miss it because i know what to do/read the situation but at the same time, my mind goes back to "but if you start a affiliate business you will have high cashflow each month  and get faster to your goal. If i would use ALL my time on real estate, i also see myself getting faster to my end game goal because i by then know much so i won´t miss a chance when it´s presented for me. I think the feeling i have is that i´m missing out on money from a business income if i focus on real estate all the way.

Can someone share their thoughts where they would put their focus and mind if they were in my shoes/in my place ?

Hello Bill Gulley !

I will be investing here, in Sweden. "Rgcompany" was just a example to give you guys a picture of what i meant, it could have been "examplecompany/example" as well.

Yes, my plan so far is to set up a LLC for each and every real estate that i will buy.

Here in Sweden when you create a LLC, you have to come up with 50.000 crowns/kr ( 5.829 dollars ). 
My thought at the moment is to start/set up a LLC  with at least 50.000, I guess that it will be more around 100.000 so that i can buy what i need to run the business. ( Right now I only have office furnitures and a computer in my mind ) but was aslo thinking about a car. I would have it in my business and also be driving it private ( I thought this was best because I could write it off if it's in the business ) compared with having a private car to drive around private and for business and also for the tax breaks for gas.

So, in my mind I would have one LLC for office stuff and a car to operate my business with and 1 LLC per real estate. When 1 real estate is making cashflow, lets say that it makes 1.000 in cashflow. Would these 1.000 go straight down in my private pocket OR does it flow through to the business LLC and THEN to my pocket ? The most logically to me seems like: When cashflow is coming from 1 real estate, it goes down in my pocket and I can then decide if I want to put them in my business/LLC or do something private with them ? The only thing now is that my business wont have any income as long as I don't put something in. so how does the business make money ? ( I know my text can sound a little blurry/weird, i just have so many thoughts about different scenarios and want you guys to understand what i'm meaning/what i'm trying to get answers on ) If this is the case with this text, just tell me and I will rewrite it as simple as i can. 

At the moment i'm just trying to figure stuff out/learning so I have a straight path to focus on once I begin my investing step by step, my first step will be as you mentioned, to talk with a attorney and CPA how to set it all up.

I'm asking these questions so I'm prepared and so I can tell them what i want to accomplish.

May I ask why you don't like to have cars in your LLC ?
Pros & Cons ?

Best Regards: Rikard.

So...all of you just has all your real estate in a LLC/without LLC and the cashflow is directed to you personally?

Don't you have a business set up with a car, office with computer, chairs and stuff that is paying for the "property hunting"?
You know, when you are eating out with brokers/lenders, driving your car to properties, doing research on the computer to search for information, looking up business partners and so on? Do you pay for all off this from your own private pocket?

If you DO have a business set up for this kind of activity, would you mind to share with me how your business is set up? Thank you in advance !

No problem Michelle.

As Rod just said, check by open the windows and doors and as allways do a due diligence with a team/constructor before going further. I don't know much about cracks so Rods idéa sounds good.

Michelle, as Rod said, we can't see the picture.

Click the three green dots in the right corner/or make another reply and click "Image" at the bottom of the reply window and upload the picture again. You will see the picture yourself if it works before you post your reply.

I have been reading a book from Ken Mcelroy where he says something in style with: A person that aquired a apartment building, didn't ever visit the property, bought it sight unseen. it was filled to 60% occupancy and was in negative cashflow therefore it was: UNSELLABLE. 

This should be the same case then ? If all the untis are empy, u CAN'T calculate the value of the building ? it would just be the offer that meets your required needs and if u knew how you would fix it up and change it from negative cashflow to a positive one. And that you can take the negative cashflow/pay for the entity. I'm Right, yes ?