All Forum Posts by: Oriol Serra

I didn't know which forum was best to post this, so I'm posting it here.

I am Spanish, and I switch between the city of Barcelona and London pretty frequently. Recently, I found that there is a lot of property offer in Barcelona, and the Balearic Islands, but not enough demand to cover everything. I also realised that British people like to come to Spain to spend their holidays, and some of them even buy houses here (mostly in Ibiza, Mallorca, etc.) I also checked of course that nobody is doing it right now in a big scale, so there is space for small middle man to work.

I am though a little bit lost here. How should I proceed? It's obvious that I need to act as a middlemen between London buyers and people selling houses in Spain, but I can't ask for the money myself, since I do not own any property. I thought of making the sellers some sort of contract that stipulates that I will get a commission in case of getting buyers. Just by knowing how you guys do it in the US would be a good help, since I could start learning more from there.

Thanks in advance.

Thanks for your responses.

I already knew that you need at least enough money for the down payment. I'll try to get that money and then purchase a property and rent it.

Similar posts have probably been posted a million times, but I couldn't find it, so here it goes.

My question is if there is any way to get a mortgage/loan from a bank or other entity to finance my first rental property. I am pretty young and I'm still studying, but I think it's never too early to start. I've also been reading a lot about real estate as well as attending seminars, watching videos, and asking questions. I always review on my head all the steps to do to buy and rent a property, but I always get stuck in the financing part. A bank will not lend me money unless I have a stable job that ensures them I will be able to pay back. And no one really takes me seriously to give me money from their pocket.

So, what do you propose? Do you think I should just find a great deal, use tools like the rental calculator to try to predict future profits and losses, and present it to someone?

Thanks.

I don't know which book to read first, if 'The book on rental property investing' or 'The ultimate beginner's guide to real estate investing', which one do you recommend?