Or develop some sort of subject matter expertise.

Before wasting time looking for properties or spending a lot of time on projects, they should make sure they can get the financing because a) financing might not be available, b) they might not qualify or c) the cost of debt might be prohibitively right.Another mistake investors make is believe that they can apply a US strategy or financing model overseas.

Once you get your systems down, you have a real estate business model that you can take to any market and be still be successful.

Is this an old model?

Find one that you feel comfortable with and use them for their knowledge and expertise.  

Once you get your systems down, you have a real estate business model that you can take to any market and be still be successful.Read this article on the "core 4".

I'm in Cuxhaven Germany and reaching out to German and European Bigger Pockets members because I'd like to set up a European Bigger Pockets Master Mind group.One of the purposes of the mastermind is to focus on pooling together resources, be it funding, knowledge or expertise, for all the deals this growing group might offer.

Leveraging Robbie's local market expertise, we quickly evaluated the property's potential.

Leveraging Seth's local market expertise, we quickly evaluated the property's potential.

My house was built in 2005 - I don't have new white cabinets (like almost every upgraded kitchen now) or granite/quartz countertops but the cabinets are an upgrade from 2005, bathrooms are an upgrade from 2005 base model, no LVP floors, has carpet and linoleum (that looks like tile from a distance).