Some key things to look for

3 Replies

I'm current looking at a couple of real estate opportunities for me,
However what are some of the keys things i need to watch out for? I'm looking to get into real estate for the long term, and not just to flip houses.

I' live in Denmark where you at times can be 'lucky' enough to buy a very, very ravaged house for around 2000$, but do you think that would be worth it to restore it?

@Rasmus Elmstrøm I wouldn't start out with a huge gut rehab job like that. Buy something a little more move in ready with some room to increase value by doing cosmetic repairs. Work your way up to the bigger rehab jobs whenever you have some more experience in my opinion. 

@Jeremy Taggart Thank you for your reply, do you/anyone have some experience in vacation homes? I'm current looking at one which is looking pretty well, it's a part of a resort - it's valued at 50k, currently at auction at around 10-15k - Is it worth to invest in that, to rent it out in the summers? Or would you say it's too much work

@Rasmus Elmstrøm I don't have experience in vacation homes. They can be more profitable than regular rentals if you run them right and they're in the right area. I would do research to see what you could charge per night and see if there is anyone else doing that in that area that you could pick their brain about.