Hello to this great community, I'm glad I finally found a community around real estate.Well to introduce you, my name is Stelios 32 yo from Heraklion, Greece(Crete Island), married with 1 kid.As for Real Estate, right now I'm working on buying 2 studio apartments in my area(Heraklion).According to my newbie research in the area, the market in my town must be right now in phase 1 but I'm not 100% sure, to be honest.Bureaucracy alone is one hell of work in my country and I already work 3 months on fixing papers, waiting for tax systems to unlock so we can get some tax papers needed and much more things...Well to consider numbers, the 2 apartments are in the center of my town and they are both sold at the deep discount of 23600€ right now if you ask me this is a very rare price.

I had no choice but to go along or not sell our house, because EVERYBODY was doing it.The Greeks in Greece never thought the bottom would fall out of a rotten society.

As my ancestry is Greek, my favorite historical example is an ancient Athenian general and politician named Themistocles.

Even the ceiling is wallpapered.I came into this from renovating masonry apartments in Greece.

The best time to buy real estate is Now The best time to sell real estate is never Or as the ancient Chinese saying goes Best time to plant tree is twenty years ago Second best time to plant tree is now

@Jay Hinrichs I admit I increased my vocabulary looking up definition of hoary,  meaning old, white or ancient... but point well put and found way to Howey test (1946) for securities is broad and can be applied to  JV's, LLC and general partnerships As such, those being a sponsor of agreements should have proper legal counsel to advise them appropriately with caution,  as mentioned its all great until it doesn't go right and money is lost. 

When Greek were posed to default on their loans in 2008, these banks didn't take the hit they should have, a hit they deserved for making bad loans.Instead, the large national banks ran to their governments and demanded that the EU "bail out" Greece.

Another I was ARVing around $215-220k popped up post flip at $275k and they left the 30 year old patched roof, the door casing baseboards, and the ancient window AC unit in the second floor window (it looks the same outside).My guess is some of these newer flippers will end up losing out and the deals will come back (my hope at least).

I had previously been exposed to the profitability by renovating homes in Greece.

The ancients used it to talk about the linguistic sophistication of barbarians who came to their lands, eager to live or work or trade with them, and yet were so ignorant of the Greek language that it wasn't that they didn't understand a single word, they didn't know a single syllable of the language.