All Forum Posts by: Ingrid J.

@Theresa Amouzou There is a huge difference from country to country in Europe, so I would try to get in touch with investors in UK spesifically.

One major difference between the US and Norway for instance is the fact that offers are binding. When you bid on a house it's like an auction. The highest offer wins, and you cannot back out of the offer once you've made it.

Finally be wary of immigration laws and health insurance/benefits. Are you transferring as an employee of a company or are you doing it on your own?

@Alissa Rodman Very extremely cautious with month to month leases. In many states that basically means you will have trouble terminating the lease agreement. Many tenants have stayed way beyond their welcome on month to month leases.

@Kenny Sibrian I would look at some of the banks online mortgage calculators as well as the official website of FHA loans. There they usually list the terms of the loans, and you can compute how much you can afford.

Are you planning to househack (live in one part of the house, while you rent out the rest of it)?

@Andres Jaramillo No problem!

@Kyle Lott Congratulations!

Househacking is a great idea to build wealth.

@Andres Jaramillo Check out the recent topic here on BP discussing the same question, albeit in more general terms:

https://www.biggerpockets.com/forums/519/topics/485592-best-way-to-invest-a-large-lump-sum-of-money-100-300k

@Michael Plante I definitely think there is an interest in it.

If you do decide to go into turnkey I would research the competition. List up their advantages and disadvantages, and see what customers have to say about them. You can learn a lot about your customers through the stories they tell you about the competition. 

@Connor Anderson Good job! Let us know when you've paid it down and can begin to save towards your financial freedom.

@Connor Anderson Having lived frugally the past five years I can tell you the best you can do to get started is to save up a decent amount of cash. Everything I have today comes from the day when I decided to start saving my money. When the bank or a potential business partner sees that you have that good habit of saving, and that you have a lump sum saved up, it makes all the difference in the world.  (And if your credit card debt is considerable I would begin by paying that down first. That also shows a strength of will).

Have you read Set for Life by Scott Trench? I recommend it to any newbie wishing to get started in real estate.

@Henley H. Would you rent a unit which was dirty or smelly? Put yourself in your prospective tenants situation and think about what you would do if you were viewing a dirty unit.