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RE Mentor

In this self improvement forum we help our members who search for mentor or go through challenges during their personal development

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RE Mentor

Post by cermrew on Tue Oct 20, 2009 12:24 pm

Hey guys,

I´m Cyrill, 18 years old and I live in Germany. Through many motivational experiences and thoughts on life a friend and me decided that we want to build our first company. We want to start small and what we want to do is buy an appartement to start with, and rent it out in order to generate cashflow.

I´ve been trying to find someone who has a mindset like me, but whereever I looked, I just found people limited in their beliefes and therefore telling me that the idea wont work. I do believe that it can work, but what I would just like to ask, if YOU have experience on the field of RealEstate and are willing to help me with some question.

Thanks a lot in advance, I know you are somewhere out there!

Best regards,

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Re: RE Mentor

Post by developing_success on Wed Oct 21, 2009 9:02 pm

Hi Cyrill, welcome to our community :D
First of all let me congratulate you for being open minded on such a young age, this is a huge advantage but be very careful, they are a lot of people who live on fooling other using fake expectations.

I don't know much about real estate but i could give you some advice.
1. Make sure that you actually own the apartment, do not leave yourself in the hands of your partner, settle on the amount of money you each set how much will each of you own.
2. Make sure that you can pay for that money, or if it will really worth it, make calculations
3. I hope you studied the renting market to see, because people don't spend too much money now because of this so called crisis. It is true that the price of an apartment is cheaper these days

And always make sure that in case if a business fails you will get most of your money back ;)
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