All Forum Posts by: Thomas Knutsen

@Hans R. Thanks! Please find the group "Norway Real Estate Investors" on LinkedIn! I have a few excellent contacts from the UK investor scenery. One of them has been my coach and mentor

Hi! Thanks for bringing this topic to live again!

We have a MeetUp in Oslo once a month with ok interest and some very good quality contacts and discussions. 

I think we need to start a online group. I will start a LinkedIn group and hope this is the right platform. Any thoughts?

I thought about contacting/calling the owners of 20-50 properties advertised on finn and present them the idea of ownerfinancing. The next step would be to meet them and present the idea in person, build rapport.  

I am working with a guy here and we are willing to pay a lawyer to look at a draft contract for ownerfinancing. If we could get a draft from US where this is more common that would be helpful. 

Thanks for the feedback Severin, lets built up a small but quality REI network!

@Morgan Nilsen great, let us conquer Norway, Dubai and everything in-between :-) 

@Tore Thornæs - I have started investing in my first "investment" house a few months ago. Before that, I have refurbished one apartment in 2012, built a new house in 2014 and again in 2016. 

Financing is the challenge as the buy-to-let market is immature. I have talked to countless banks but found one who is willing to lend money on a LTD (AS) company. (main reason for that is trust) Lending on a AS company removes the strict personal limits. 

I would love to share experiences or network for further investments here. 

Hei! I have started investing in Norway. I would love to build up a network of like-minded for Meetups, networking and sharing ideas and experiences. I have excellent contacts to builders and architects. Have been involved in a few fix-and-flip projects with great success.

I am investing in Norway. My first deal was a run-down single family house with double size plot. 20m from the main road Oslo-Stockholm.

Purchase price 3.4M NOK, money down 0.7M (@2%, secured in family home), loan 2.7M (@4% business loan)

I took over the current renter, a contractor business paying NOK 3000 for each bedroom. The living room was converted to a bedroom as well making it 6 bedrooms total, renting now 18k NOK per month. 

2 months later I got a land- subdivision approved. The newly created plot is worth 1.3-1.6M NOK. The neighbour agreed to buy at 1.3M, buying cash and will remove garage.

End of August I will have my down payment back and 0.6M in company account. The bank is fine with the current rental income and allows me to keep the money as down payment for a next deal. 

Anyone interested in repeating that in Norway 10x next year? :-) .... its hard to find such deals but possible. Thanks to BP I learn about finding deals and beeing creative.