All Forum Posts by: Account Closed

In Greece, the average  time is 15 yrs. but some banks have 20, 25, and 30 yr. mortgages.  Unfortunately, it isn't easy for even Greek citizens to get a loan.  So many people have defaulted on their mortgages and every day, we hear about more foreclosures.  We do have a lot of foreign investors... mostly from China, Israel and even Turkey.  The government has a "Golden Visa" program, where if you invest a certain amount... I think at least 500K euroes, then you get a permanent visa,  This country isn't exactly investor friendly, there is so much bureaucracy and that turns off anybody except the very determined investors.  That and the uncertain tax laws...   However, property values are very low.  In some places... like Athens, and many islands.... properties have been bought by foreigners and used for short term rentals.  That has not only driven up the value of the properties, but has caused a shortage of long term rentals, raising the rents.

There may be an issue with taxation... many countries have agreements to avoid double taxation.  Where would you report the income from the rentals?  

Mostly depends on if there is anything of interest. In small spurts... a few minutes in the morning, then for a longer time later in the evening. I'm trying to be selective... only reading, watching or listening to what is relevant to us. No use reading about retiring early, when you're already retired. Or learning about flipping,etc... when you're interested in rentals. As far as the forum... only when I have something to ask or to reply to another post. I value this platform for the knowledge and the networking it provides. Where else can you find so many like mined people and talk about REI, especially if you live in a small town.

I believe that the answer lies in the true meaning of the word "mentor". That is someone usually older and more experienced in a field, teaching or advising someone younger and less experienced. That can be anyone who works in that profession. As often said, they are busy, and don't have time to teach. But would be willing to advise you, if asked... for the small price.. of a coffee or meal. If you separate REI into its different parts.... and try to contact professionals in each speciality, then ask for their advice, you'll probably succeed in learning a lot. A banker can advise you about loans, for example. All this advice is also an indirect way of learning.

Another way is by being of service to them.   Even if it means just doing odd jobs.  When I started out teaching English as a Foreign language , I didn't know how to begin, or even how to go about getting a license to teach.  I asked a teacher in a local language school if she could advise me and she agreed...  in exchange for me acting as her (unpaid) assistant.  I spent many hours grading papers, running errands, etc. When I acquired my license, she then hired me to teach in her school.  It was my first job, but after working for 4 yrs, with her,  I left and started one to one tutoring. 

I know that this doesn't have anything to do with REI. But it just shows how a mentor helped me get started.

I would agree on getting  a Business Major, or something in Finance.  Anything to do with numbers, contracts, etc. This knowledge would come in handy. 

Hi,

If anything influenced my way of looking at REI, it was this website as well as the book.

(http://www.resilientinvestor.com/)   If anybody is interested in how to make your investments count,  this is worth looking into.  Especially if you're investing in properties where climate change poses a threat.  

Thanks Kurt,

Just used it only to find that the taxes were a lot more than I had thought.  Forgot that income properties are taxed more.  The numbers still work, just not so much cash flow.  

Thanks Dan,

I contacted them and found out that they don't sublet.

Thanks,   I realize that they will be different when I purchase the house. Especially since it has had the same owner for a long time and they probably paid lower taxes.  Like my dad did because he was retired.  I will definately research that.  

Hi,

I recently found a single family house that we like but can't understand why the exact same house has a different amount listed for its property taxes on different sites... ie Zillow, Truilia, Realator.  It's not just a small amount, but quite a lot. I also have found that the amount is much smaller on local real estate agents websites. And matches more with what my agent  has listed for this house.  Why the discrepancy?  If it helps, the house is in Dearborn Heights, MI.