All Forum Posts by: Barry Randall

I think banks are not as easy to convince for these sort of operations for individuals, but I want to explore all options like using partners (individuals that could and are willing to apply for mortgages) and other posibilities but using my company or creating one is not out of my options.

I am not sure there is any current meet ups in Madrid, I have searched and not found much, I will keep searching... good to hear in Barcelona you have monthly meet ups. Many people showing up?

As I think cashflow is quite important at the beggining (but gaining equity is more important in the long run), to start off I have thought about sub-renting, renting from a mum and pop landlord and explaining very clearly (and maybe paying extra even) I want to airbnb it or rent by room for students. Getting high cashflow and not having to get a big loan or much risks to start out. Is this something you have any experience with? 

Barry

I haven´t yet done my first deal, but I do have family and friends that have and also potential cash partners I have talked to about it. My wifes house is nearly payed off and we are thinking of buying a new one and doing a live and flip while we rent out our current house... and meanwhile I am really trying to get all the info and contacts so I can pull the trigger on a deal once I find a good one and have the tools to take it down succesfully. 

I want to talk to all the banks I can about refinancing options, the bank we have our current mortgage in is Ibercaja and they are not too helpful, if anyone could share info on the most investor-friendly banks in Spain and also serious private lenders (without so many referalls and other like minded investors to ask about lenders as in other countries I find it hard to trust the advertising of private loans you see everywhere) it would be helpful also. I will publish any usefull info I get regarding this.

And about the room rental and such, I am really sure Airbnb and room rental gives more cashflow to your rental investments and I would want to try out especially the student shared room thing... but really a more pasive (even if low cashflow) option is more where I am planning as I own a full time business and don't have so much time for the Real Estate. The main strategy I am studying is the BRRRR and how we can apply it to the spanish market and laws so the investments can be replicable again and again without leaving big sums of money in the deals.

Nice to meet you and hope we can help out each other and other Spanish members.

Barry

Hi, I am a 37 year old half English, half Spanish guy living in Madrid, Spain and I have an unrelated business (Speciality coffee roasting) but have really got interested in investing in real estate as a side business and to help build long term wealth. I have been reading the forums, listening to podcasts and reading books and videos for over 6 months getting very motivated... but living in Spain I have to transfer what works diferently and what works the same than in the US or UK markets that are where most the info comes from.

I would like to get in touch with other local spanish inverstors and see what strategies work best here... I am mainly interested in buy and hold or rent by room using BRRRR strategies... numbers do seem to work if you are creative and what is positive is although big capital organizations have come in to Spain to invest, regular small/medium investors that actually use experienced info, strategies and network/community is not trending or arrived so strong as in overseas.

Cheers!

Barry