Hi,I'm new to this forum and I come from Geneva, Switzerland in Europe, I found a lot of very interesting informations and rules, like the 50% and the 2% rules, on BiggerPockets but it seems to be impossible to invest in my local market with these rules so I registred to try to see what you, US expert, thinks about the situation in Geneva and what I should/can do here.First things First, in Switzerland everything is expensive, and housing is specialy expensive in Geneva since we have a lot of banks, international companies, NGO and even the United Nations who brings a lot of very high paid employes to our city.The whole Switzerland is probably smaller than most states in the US and Geneva is a small state in Switzerland.

I'm afraid to put the policy in the LLC's name because I want to be covered personally.

I was afraid of "unloading on a newbie" and leery of the situation as well so you confirmed my initial worries.

. :)Sorry Karen, I'm afraid a new corporation won't cut it, it will have no credit history as a commercial loan and the loan would need to be personally guaranteed which then brings the credit issues of the guarantor into the picture.

If it has gone thru a cycle of seasons and its only an inch at all settling points, I wouldnt be afraid of the deal.

However, do not be afraid of the asking price.

I know part of the issue is being a first timer, I'm afraid that if I don't take a chance, I'll never do it, but I also know I need to minimize my risk.I'm just merely hoping for a $7,000 purchase price with roughly $13,000 in repairs, therefore having some equity in the property afterwards.The house is roughly 1,200 sqft, so I'm guessing if I had to have the roof replaced would be roughly $3,500 to $4,000, not including the trusses or plywood.

-Don't ever quit trying, don't be afraid to change a plan that isn't working.

Don't be afraid to jump in and help answer questions or ask some of your own.Oh- last thing: Have you setup your "Keyword Alerts" yet?

Don't be afraid of a reputation that's 25 years out of date.If you're looking to get plugged in to the community, I can think of no better way than my gym, Tacoma Strength.