All Forum Posts by: Morgan Nilsen

Just closed on my first house in america 2 days ago! As a foreigner its a little scary trying to tackle taxes. So I'm trying to get some basics down before i dive into the details.

I bought a house in Indianapolis. Price aprox 50.000, with a rental income of 750 pr month. I don't have a mortgage, and I believe my property taxes are about 800 per year. 

How much money should i put aside per year to be sure I have enough to cover my other taxes? 

I do understand that it will depend on my write-offs, but I want to be certain I have enough.

Does 175 per month sound like a lot? thats 2100 in a year when expecting a rental income of 9000?

what value will you bring your coach?

welcome! Wow 18 and interested in real estate. Took me 10 more years to discover it. Be smart and learn how to do it right from the start. You will go really far for sure!

I am a foreign investor from Norway who just started investing in Indianapolis in 2016. I will invest $150.000 in Indianapolis over a short period, to buy 3 houses. I hope to approach a bank once my houses are rented and get a HELOC of $100.000 to aquire 2 more houses by the end of the year.

is this possible to do with my LLC, having 3 houses that are fully owned and a cashflow of 1000? I dont have a credit score as my company is brand new.

How do I realize my plan if its possible?

So you finally pulled the trigger! Good for you man! Im really happy for you. 

If you havent gotten a response you just need to track him down and find out why. There could be many reasons why he hasnt responded. Instead of speculating, find him and figure out. When you know why you didnt get an answer, you can post a forum post here seeking advice. Makes sense to me at least.

Im very glad to see you being active Sach!

i was quite lucky. My wife was already investing in real eastate when i met her. But she was only interested in appreciation markets. My challenge was convincing her to go for cashflow instead. Extra hard as shes done extremely well. But i was finally successful once i put on the BP podcasts in the car where other experienced investors talked about exactly how shes been gambling unknowingly. Shes been winning a lot so now that we are about to embark on our new cashflow adventure we have a very good foundation. 

really like your story! Its always great to see old houses being brought back to life

if i could, i would have saved more of my money and invested it in mutual(index) funds until i had enough for a downpayment on a house which i would have househacked. I would have gone to uni to get a highpaying job too. I also would have taken part in my dads renovation projects which i always hated when i was younger.

i am interested in hearing more about this deal. Please contact me with your details.

hello Haider Asfandiyar

Its an interesting question you are asking, but why are you looking at only those markets? Dubai's property prices has fallen as the market have become somewhat not as good as it used to be. Increasing transfer rates, higher requirements of downpayment, much supply of new builds, and so on. 

Its a place that has relatively high yields, but what are you really after? If you are looking to generate wealth, then I wouldn't recommend Dubai simply because of the market being so unstable. You are more likely to find success in big coastal cities in the western world. Again, you have to think how long you are going to be in the property for. In Dubai you can find crazy returns if you time your investments right, but the downswing can hurt you just as much. With Expo2020 coming up, I expect Dubai to see growth in the short term, but im uncertain as to what will happen after this. I also believe that the Chinese economy plays in to the property market in Dubai as there are a lot of chinese investors here. If the china bubble burst, which personally i think it will, then its most prudent to assume the market in Dubai will go down.

Another level to consider is the rise of the American dollar. The people I listen to in finance suggest that the dollar will still increase in value, and as the AED is tied to the dollar, you will enjoy an upswing if you get in now, but if you are not ready to move quickly and the dollar increase in value before you buy, you only stand to lose in the currency, (as im expecting you are buying in pounds).

I have lived in Dubai for almost 4 years now, and I invest in Norway. I find the Dubai market to be too unstable for my liking. and the 4% transfer fee is a killer, unless you plan to stay in the market for a long time.

If you could tell me a bit more about your plan, I could suggest a place for you. Or if you need help to form a plan, im happy to do this also.

London is a safer investment, and Dubai has the potential for more upswing, but is more risky. But remember the world is a big place. You have tons of options