As I said, RP#2 was in the works, and I finally have good news: I bought a building. Yes, a building. It has 3 rental units (three floors) and two of them are already rented out. I will use leverage as the two rented units will pay for the (20 years) mortgage. That means that the third unit will bring considerable cash flow (something between €200 and €250 a month) and will position me to buy more real estate.

I love this deal, and I will try to replicate it. Instead of condos / apartments, I will be looking for 2-4 unit buildings from now on. These are great for a variety of reasons. First, the price is not significantly higher than 1 condo. In essence, I get 3 condos for the price of 1. Second, I save a lot with maintenance and property management fees. Third, I dilute the risk: with 3-4 units I never end up in a binary situation.

From here on, I will only look for this type of deals. In particular, I hope to find buildings that get the mortgage covered when two units are rented (and the others bring cash flow). I will close the deal next month. Will keep you posted!