In Berlin, rental arbitrage has been very profitable, with average annual margins of 25-40% after all costs but before taxes, so shifting to a market where arbitrage is barely breaking even is definitely a reality check.Given your experience, would you say the best way to enter the market now is through purchasing properties with financing?

Then use the experience to work out the kinks and build a strong boots on the ground team.

Appreciate any tips, insights, or experiences you can share to help guide me through this process!

Just from my own experience, if you were not going to separate the heat, electrical, or plumbing, I would do it anyway. 

Or is it more than that and not something to be done without development experience?

I have 40 years experience as a real estate syndicator/sponsor and investor in other syndicators deals.

Now, I'm stepping into the investor role myself and looking to learn, grow, and connect with like-minded individuals.I'm eager to share insights from my lending experience while also gaining knowledge from seasoned investors.

This experience has provided me with a strong foundation in acquisitions, valuations, and deal sourcing.

What is your experience with construction/renovations?

., so I would be interested to a) hear other BP members' lender recommendations for this sized property and also b) other members' experiences working with Fannie, Freddie, etc.