New member from Belgium (the country)
Hello,
I've been following the BP podcast for a while now, and am just in the process of closing my first commercial property deal.
I've been renting out an apartment unit I originally intended to live in myself, for about 5 years now.
Currently closing on a commercial property that I'm converting into offices, for which I already have a contract with a renter and needs minor remodeling.
I'm planning on buying more properties with the profits from my IT business, hopefully about 1 unit a year at the start. Most likely single homes or appartments, but depending on how well the commercial property goes, I might get more into that.
The market here in Belgium is a lot different from the US market ( very high closing costs ), but I hope to still learn a lot here.
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@Quod L. Thanks for the insight and also for sharing that document! I'll be busy digesting that one for a few days at least! Pretty fascinating stuff...
Here in the States, the falling home ownership suggests a growing tenant supply. Combine that with limited affordable housing in places like Atlanta, Georgia (where I operate) and you get a very landlord-favorable climate indeed!
@Ricardo Fainsilber I agree that institutional financing options for foreign investors are either rare (the elusive foreign national mortgage) or pricey (e.g., hard money). Have you considered arrangements where the seller of the property is willing to finance the sale? I mention this because I've learned that owner financing, as we call it here in the US, is pretty rare elsewhere in the world. But it can be an extremely powerful tool, particularly for foreign investors.