Tips/tricks sharing (and needed) for our deal in Valencia, Spain

[Erwin Groenendijk]

Hi BP community,

Originally, I am from the Netherlands and for approx. three years now living in Barcelona, Spain. Since some time now, together with two others, we started a company buying, renovating, and selling houses in Barcelona and for the moment mainly Valencia (fix&flip). This post is meant to share our tips and tricks how we make the most out of our deals in Spain (this specific one in Valencia), and also very much to ask your opinion and experience how to perhaps do things different/better.

The project: The apartment building is situated in the Tormos neighborhood of Valencia, street Carbonell. The apartment is located within a 15 minute public transport distance to the old city center and also 15 minutes to the beach in Valencia. Our team completely renovated the third floor exterior apartment. The apartment is including a lift and balcony, and in total a surface of 95 m2. Although the apartment is relatively well maintained over the years, the renovation included a new (open) kitchen design, bathroom remodelling, painting of walls, new flooring, electricity structure and interior finishes throughout the apartment.

The renovation lasted three months and the offering of the apartment on the housing site is already 2 months with 3D renter photos, giving us a hot list of people showing interest or visiting the apartment in the meantime. Total investment is 106k and expected selling price is 145k, resulting in a +/- 39k profit. 

Needed: tips, tricks, ideas, trusted contacts, or just getting to know individuals dealing with similar projects. 

Thanks!

Erwin