All Forum Posts by: Morgan Nilsen

Cool idea for a post! I can shed some light on Norway.

Norway: 

1. The banks require a downpayment of 15% on investment properties, except Oslo which is 40%. The banks must follow this 9 of 10 times, so they might deviate if the reason is good enough.

Norway is a cap gain market eith very low mortgage interests. (2-3%).

Almost every adult Norwegian own their own property. So ideal rentals are flats near schools and universities. 2 bedroom apartments start at $225K and can go much higher in the biggest cities here.

Norwegians pay their rent. It is very uncommon for a Norwegian not to pay their rent on time. That said, the laws are very tenant friendly here. But in my 4 years of investing in Norway Ive never had any issues that i couldnt resolve with ease.

Our equivalent to the mls is called finn.no and i dear say the norwegian page is much better looking. Every publicly sold property ends up there.

In order to sell a property the SELLER must pay for a technical inspection report and this must be given out for free to every potential buyer. 

Contractors are very expensive. The minimum wage in Norway is very high.

The dollar conversion to the norwegian krone is very favorable at the moment. For the owner for dollars that is. The rate is aproximately 8.4kr per dollar now which is close to the highest its ever been. This is primarily due to the low oil prices at the moment. So smart investors with dollars can make a huge gain on the currency fluctuations. 

Norways laws are ideal for serial flippers that want to do live-in flips. If you have lived in the property for 12 out of the last 24 months you can sell without cap gain taxes!

Hey Severin!

Morgan from Norway here! Cool to hear that you nerd out on real estate too! I live in Dubai (visiting norway for the summer tho) but invest in USA and Norway myself. I would love to talk RE investing with you so reach out if you like and we can discuss your strategy!

Veldig bra jobbet! Norwegian for great job! Im very happy to see that your plan was successful and that you have apetite for more. I know Trondheim has seen really good appreciation. If you want a fellow norwegian investor in your network reach out to me. Happy to talk real estate for hours

hello Ahmed.

Im also an expat living in Dubai, altho im originally from Norway. I have been faced with similar issues as the ones you are presenting here. 

When you live in Dubai, you will be far away from everything, and you will most likely need property management. If this is the case then perhaps its wise to find the best cashflow market out there instead of the market you know the best. This way you can handle more expenses while being far away.

I personally chose to invest in Indianapolis, USA, but there are several other good options in North America, Europe and Asia too.

Once you are clear on what your purpose for investing is and what the optimal strategy will be, you might find that there are many areas that have potential for you.

thank you very much emma

Its going to take a while so, we will have to meet up face to face, but I'm happy to help. I am in the middle of a very busy period right now trying to buy 8 houses as well as having 6 visitors coming from Norway for a week, but i should have lots more time on my hands around the 20th of feb and after. Send me a private message here so we can chat!

@michael thompson might be able to help you out. 

@Fred Hardy the sweetspot for me is properties that get me all in at 50-60K. They must rent for at least 800. Im not scared of renovation. Also, i want some distance from highways and powerlines. And finaly, i want to be north of 38th street

@Fred Hardy Good Job getting started! If you find a deal worth selling in 46226 im happy to take a look. 

hi @Dennis Williams I'm honestly not the person to talk to about commercial real estate in Dubai. I know nothing about it I'm afraid. I might be able to help you find the people you want to talk with though, if you can give me some more details about what you seek. If you like, feel free to message me privately and I will see what I can do.