My first DEAL! Or no deal ?

[Lorenzo Peeters]

Hey,

I want to do my very first investing!

I am from Belgium but I heard Portugal is the place to be! Very cheap housing prices!

A broker from Lisbon sended me this property:

T3 app 104m2 (10km from Lisbon center)

Price 127.500€

Between 1200-1800 rent price

I took 1400

Good condition, no furnitures

Loan from 345,93/ month (360 months)

I did the tax, vacancy, repair, CapEx, manager and insurance. Came a total of 727,73€

So I would make a cash flow of 326,34€

Total invest 10.000+ 30.000 down payment= 40.000€

CoCROI = 9.79%

Is this good or am I totally wrong?

Should I work together with the agent or can I make my first deal alone already?

Any tips are welcome! Glad to learn!

Greets,

Lorenzo

[Diogo Candido]

Hi @Lorenzo Peeters,

I'm a Portuguese, born and raised in Lisbon and I'm still here now. I second what @Rui Dias Costa and @Nuno Leitao said, 10km from Lisbon centre can be in an awesome location or not so much and, as @Bob Langworthy said, have a property manager look at the property before you buy it if you want to be sure, especially if you're not going to be here. Just keep in mind that it might take a little effort to find a good property manager if you are thinking about doing a typical 1 one year lease or something like that, however, if you are thinking about short-term rental you have a bunch of management companies with different commissions and the option of a guaranteed rent but it goes back to location when it comes to rent potential.

Good luck and if you need any help with the language or boots on the ground reach out, right now I just take any chance to be around investors and deals.

Best regards,

Diogo Cândido