Kirke S氓by, Lejre 路 Member since 2016 路 2 posts 路 0 votes
Hi there馃檪
My name is Susanna.
My son and I have taken interest in the REI business and our goal is to achieve financial independence. We have no professional experience yet, but we want to learn as much as possible with a view to start investing as soon as we have the required knowledge. We have decided to focus on the UK market to start with, and our strategy will be flipping (fix & flip), moving on to BTL (Buy to Hold) and Multi Lets in due time.
Welcome to BP. This community and website are an incredible resource for REI, knowledge and networking, although naturally more focused on the US market. If you are looking to invest in the UK then you might want to join the Property hub as well. http://thepropertyhub.net
It sounds very interesting but why do you want to focus on UK as a start? Will that not increase your travling expences a lot compared to places in Denmark?
Sorry for not answering, but I have been away for a while.
@Saul, thanks for the link, I had a look at it and listened to one of their pod casts yesterday, it sounds very useful.
@Dave: Thanks to you too. I am a newbie still, and it all looks very overwhelming as I am starting from scratch more or less. However, where there is a will there is a way and I have my 28-year old son at my side. I am very grateful to have found this community, even though not all corresponds to the UK or DK markets. But the basics, I guess, are the same.
@Lars: Before I came across Bigger Pockets, I signed up with Tigrent. It is rather expensive, but the materail is still good, the training very inspiring and with the packet comes training seminars in London, webinars, a portal with loads of material, but most important, a mentor who will "hold our hand", introduce us to a British Team of all we need to start and do the business in the UK, including finding and analyzing deals and they will help us set up a company in the UK also. They will not let us invest in anything that they do not believe is a good deal. This is our main reason for focusing on the UK market.
So yes, there is some travel involved, but not immense, as we will have a trusted team to rely on.
However, we are naturally also looking at the Danish market, but in doing so, we are pretty much on our own, as they do not know the Danish market. Flips in DK would do, we think. At least we are looking. While BTL is more troublesome than in the UK, partly because it is more difficult and complicated to get rid of bad tenants, which may lead to major losses, and many other regulations in DK make it hard to be a landlord. Besides, we have been taught to have a plan A and a plan B, so if the property cannot sell, there is still a demand for letting and vice versa, so a good deal would have to work both ways.
Anyway, we have not started up yet, as I became ill just after signing up and am still struggling, but I hope to be back on the track now.
Hope this explains why we are focusing on the UK market?
