cannot find a deal in my rural area in Spain

[Jozef Kutka]

Hello,

I have been learning about real estate in general and in my area (rural Spain) for a few months and following every single buy/rent offer and purchases made but I cannot find a deal where I have a confidence to make enough profit.

Prices in my area are slowly dropping over the years, population is going slightly down and I do not expect it to make any upward movements.

Properties are very cheap and there is plenty of houses for sale. Some older houses are offered for price close to price of land. These older buildings are getting bought very slowly. What sells well are ready to move in houses/apartments in a solid condition for very good price.

It is possible to rent out a property only in a few largest towns as there is very little population movement.

Having little experience and very slow market ,I want to have at least 2-3 exist scenarios in the following order:

1. buy/sell with fixing the apartment to make a profit at least 20k

2. rent an apartment with 10% rentability brutto (maximum rent paid in the area is about 500eur/usd per month)

3. move into the apartment to not pay my rent and wait for 1.

Constraints: I am eligible for a mortgage from bank of around 50-60% of the property max (by not being a resident), also banks offer mortgages from price 50k only, while the highest possible rent is around 6000usd per year so its already edge of 10% rentability.

House purchase fees are around 14%.

I also have enough cash to buy properties without mortgage but I can get ROI 10% easily elsewhere without any work.

I will stay in the area just 1-2 years and I wanted to use it for learning by doing some real estate project but I am doubting if I should do it even if it wont bring almost any profit.

Do you have any ideas how could I think about my situation?