I listen to the podcast and read a lot of the forums here and just wanted to touch base with someone who's been in our shoes and get some support in this endeavor.

Most people in your shoes start with househacking and use an FHA or Conventional renovation loan because the property will be their new home.

That’s why I joined BiggerPockets — to learn from one of the most experienced REI communities in the world.My goals right now are to:Explore different REI strategies through the forums, podcasts, and communityUnderstand what lessons from the US market can be applied in EuropeConnect with others who are (or were) in a similar “figuring-it-out” phaseIf you were in my shoes — starting fresh, based in Europe, with a solid business background but new to real estate — where would you begin?

Hey Michael,Sounds interesting... there are a few ways you can handle it depending on what you and the buyer want:Standard approach: Finish the build, then sellEasiest for paperwork and lenders because you stay on as the owner until the home is done, then sell as a completed home.Buyer might put down an earnest money deposit now with a purchase agreement that closes when the certificate of occupancy is issued.Keeps your construction loan simple because it stays in your name until the end.Assignment of contract (less common with construction loans)If your lender and builder allow it, you can assign the purchase contract to the buyer now so they close when it’s done.Some lenders won’t like this because the loan is tied to you, not the buyer, so you’d need lender and builder approval first.Sell the lot now + construction agreement with buyerYou sell the lot to the buyer right away.Buyer signs a new agreement directly with the builder to finish the house.This means your construction loan would need to be paid off when you sell the lot, so financing has to be lined up.Most investors in your shoes go with option 1: lock the buyer in with a purchase agreement now, take a non-refundable deposit if you can, and then close when the home is complete.

.- you're not responsible for amending anything, this is the CPA's headache- you're not responsible for correcting bookkeeping errors of your predecessor- you ARE responsible for maintaining correct books from now forwardSo the approach I would have adopted, were I in your shoes, would be: 1.

We liquidated, gave the money back, and started "shoe-stringing it".

Many beginners start small - buying land for long-term appreciation or future development - but it’s usually more passive than residential rentals.If I were in your shoes starting out, I’d focus first on cash-flowing turnkey rental properties in markets with affordability and tenant demand, which can give you experience managing properties and generating income, while keeping your future options open for LLC ownership and land investing.Always happy to share more about what's worked for other investors.

So many in your shoes get distracted focusing on details that should be secondary to the underlying real estate.

Because I’ve been in the shoes of the developer, investor, and borrower, I underwrite with a different lens—looking at the numbers, but also at the people and the plan.

A lot of investors in your shoes look at markets like Vegas for their first deals because entry costs are lower, cash flow potential is stronger, and you’ve already got connections there, which is a huge plus.That said, California can still work if you’re open to creative strategies (house hacking, ADUs, or targeting less expensive submarkets).