I am reading on BiggerPockets.com since a few days (mainly the blog) and really want to get going and get financially free with investing in real estate. I am now halfway through the "Ultimate Beginner's Guide to Real Estate Investing" and it seems that one of the most important things I have to do is to find a mentor. The Problem is, as stated in the title, I am from Austria and have googled for hours and really can't find a real estate investment group or anything like that. I only find REI business websites to buy shares and that's all.
I know you probably can't give me any advice that fits ideally to my problem, but you guys seem pretty creative in finding solutions ;)
It does not seem that Europe has the same type of support and infra structure for real estate investors like US does. I am originally from Italy and I have connected with investors (especially commercial) other there, but they have learned the hard way :)
My suggestion is that you find an actual investor and ask to work with or for him, even as an assistant, to learn the ropes. The basics are the same though worldwide, so that is comforting :)
Buying with creative financing, owner financing, wholesaling and flipping, even foreclosures (bank owned properties.) Lots of similarities.
Thanks for your reply. Let's see if I can find an investor I could work for. :)
You have some experiences with investing in Europe? I would like to know if the numbers in Europe are comparable to the numbers of US, especially the percentages. Are the ROIs, interest rates about the same as in the US and is the financing as 'easy' as in the US? Because the US seems more open to Investors and giving away money to them, so the economy could grow. And did you find some (other) things that are different from the US?
I'm originally from Austria as well! I have to agree with Laura, that the market in Austria doesn't seem as "liquid" over there as it is in the US. As you know yourself, the mentality in Austria is different and once people are settled, they rarely move. With that being said, I know one guy who flips houses for a living in Austria - so it is possible. Again, as Laura suggested, try to become an assistant for someone who's doing it. Maybe ask general contractors (or any other "Handwerker") - they might now who's rehabbing houses in your area. Financing typically isn't as flexible as it is here in the US, but then again I've never done it "back home". Let me know how your search for a potential network is going! Maybe we should just start one!
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