I have a similar project in Buffalo NY, however, I had to change plans when I got further into regulations.  

And don’t skip the due diligence—inspect everything and plan for unexpected costs.Take it one step at a time, and you’ll do great.

Listen to podcasts, read books, and if you plan to invest in the Netherlands find some resources that speak to that market specifically.

What is your plan after rehab.

Would you rather set it and forget it and not need to refi again or rather take advantage of low/no closing costs on this loan and plan to be more aggressive on your rate at the time of your refi?

With patience and a solid plan, you’ll be on your way to building a successful portfolio.Good luck!

 Hi Roger, yes, the plan is to house hack.

If those two things are accurate on every deal, you’ll make more money and be able to sell your deals to cash buyers MUCH easier.ALWAYS intend to close and NEVER put anything under contract you don’t already have soldWhen you make an offer on someone’s house who is in a bad or desperate situation, ALWAYS plan to close.

You Can Only Have 35 Non-Accredited InvestorsRule 506(b) allows an unlimited number of accredited investors but restricts you to only 35 non-accredited investors.However, there’s a catch:Non-accredited investors must be financially sophisticated.They must have enough experience to evaluate the investment risks.From the SEC:“Securities may not be sold to more than 35 non-accredited investors… [who] must meet the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment.”If you’re planning to include non-accredited investors, make sure they qualify—or you could be violating SEC rules.3.

Unless you have a solid plan to turn this around, selling now and cutting your losses might be the best move.