All Forum Posts by: Morgan Nilsen

hey Simen, saw your message and i thought id pitch in too. I have two apartments in tønsberg and rent out to students. I think you should get great pictures of your house but dont bother staging it if you are renting out to multiple tenants. Most of them will likely bring their own furniture. Which is better for your case in my opinion. Maybe i misunderstood you, but it sounds like you are unerestimating your costs of your house. The communal fees and potential HOAs in oslo plus insurance and not to mention your mortgage P and I. I would carefully consider your strategy and investment time horizon. 

Ive started investing outside of norway now, as i dont find the cashflow and ROI i want there.

Drop me a message if you have an interest in discussing this further. Im happy to share my knowledge.

Hey Lewis! i just started investing in the 46226 too. Bought my first unit there in march and buying my second there now. I dont have much info to give u on the area, but if you want to be in contact with other investors that operate in the area im happy to be one of those. So far, my numbers look really good, but they havent been stood the test of time yet.

Hey Sach,

I think its a cool idea. But just make sure you can cover your payments. 4 years is a short time, and you should have multiple exit plans before you purchase. I wouldn't consider inflation when looking at a 4 year mortgage. The way that inflation helps you out is with you increasing the rent.... you won't be able to do that significantly over 4 years, not to a point where its going to affect your ROI very much anyways.

Other things to consider is that it typically takes longer to find commercial tenants, but they tend to stick around much longer once found. So you should have a buffer to handle your expenses in case you encounter some issues.

If you have a limited amount of funds, I would choose my first deal very carefully. Things usually go most badly with the first deal, so make sure you have good margins to cover your *** when you get going.

Let me know if you wanna do lunch before I leave Dubai. Im happy to give you a pep-talk! 

Without knowing any details, I say go for it! Expect to screw up, and know that its something we all do. But even if you screw up, you will most likely get all your money back, and you will have more knowledge for next time. So the downside is not actually that bad. And who knows. You might get it right on the first try too. 

You can do it! You have people around you to give you assistance and knowledge, so take the plunge!

yes i am plannong to contact portfolio lenders down the line. 

thanks louise. I am not beyond being creative. I have several options already, i just wish to know all of them so i can find the best sollution. 

Any takers?

Hi, Im a foreigner(Norwegian), with an LLC in Indianapolis. I have 2 houses, and a total of approximately $120.000 in Equity. The company has no debt and about $5.000 in other assets. The LLC was formed in January 2016.

As a foreign owner with no credit history in USA, but with 100% equity in two properties, what are my options for leverage at this stage?

My company cashflows about 700 per month if that is relevant.

Thank you so much for your help

You have a significant amount of equity in your properties. As you might know, the general rule of thumb for banks in Norway is to let you refinance so you are left with a 30% equity share in each property. Consolidating your properties might be difficult, but will ultimately be up to what the banker deem as reasonable.

In Norway, banks base your credit ability soley on you your income. So make sure to provide them with your income, and include your rental income of course. Very good to have that on your tax returns when trying to get a higher mortgage. 

If one bank say no, keep asking other banks. There are several banks in Norway that might help you. DNB, Sparebank1, Nordea, Den Danske Bank and several others. Make sure to approach all likely candidates. Dress smart for the meeting, act sharp and build trust. 

Hope this helps

im a norwegian, who lives in dubai and i just started investing in indianapolis in addition to having 2 flats ln norway. Happy to connect with you and share my process with you. Pm me if you are interested

thank you louise! I hope so too. Im buying a few more within the next couple of months too!