All Forum Posts by: Erwin Groenendijk

Selling is fully underway. Just replied on your home staging post. Tell me more about it :-)

Hi Elena,

No, not heard if that since now. Could you give a short explanation how it works? Costs for example?

Erwin

Hi @Elena Ferrer,

Please keep us posted on your experiences in Alicante. Interesting to hear how you will manage your first apartments there.

When you decide to learn more about Valencia, we can help you. We have now been active for over a year in the neighbourhoods outside the city center in Valencia, and last month bought our first building in the city center next to the Mercat Central. Would also be interesting to talk with you and learn about your insider's knowledge as you are originally from Valencia :-) 

Erwin

Hi @Damian Bornes, hope you are good!

Ever thought about renting out the apartment (or similar in different locations where it suits better) per room to students or expats/working people? 

Don't know if there is a possibility in your town, but that could boost your ROI.

Erwin

Not yet. We are doing fix&flips of around +/- 6 months from buying to selling. Is it interesting though, because the numbers that you are mentioning in Granada are similar to those in Valencia. 

For myself, I am more and more moving towards individually building on a rental portfolio. Will have a close look on your progress and perhaps ask you something along the way if you don't mind.

Erwin

@Ethan, try David Greene's 'long distance real estate investing' book to read everything that there is on the topic and make the decision which feels best to you. Now reading it myself btw!

@Warren Talbot that is exactly the way how you will find your formula of success. Unfortunately we don't have contacts in Granada to help. Would otherwise be happy to share them with you.

Could you give a quick overview of average house and rent prices over there?

Erwin

Hi @Warren Talbot,

Quite a story. Thanks for sharing.

We are active in the North of Spain, Barcelona and Valencia for the moment. Not too sure to give you strong advise about Granada. 

Have you been analyzing Idealista? What are the cashflow estimated rates for long term rentals in Granada? What I know is that the house prices in Malaga, for example, are rising as one of the fastest markets in Spain together with Valencia.

Regards,

Erwin

Hi Fernando,

Either as a company or as an individual, you will be paying the profit tax of 19%. This is at least in Spain, and it can go up depending on how much money you are earning. Up to 24% if I am not mistaking. As you are planning to flip one apartment per year, it would not be necessary to open a company for that. But ask a legal adviser that question to be sure :-)

For Portugal questions, I have to again refer you again to @Adria Creixell in that he has more knowledge about  that market.

Erwin

Hi @Fernando Cantini, nice to be reading your plans. In terms of where to invest there is only one answer: it depends. It depends where you know people you trust, people that deliver quality work, and people that can perhaps show you the rules on the ground. There are good opportunities to be created in every of these markets. We decided to run our projects in Barcelona and Valencia, the North-East if the country.

In terms of flipping multiple taxes per country apply. Don't forget that there are still nice gains to be made next to the taxes. In Spain it is 10% when buying an apartment, and 19% over the profit that you are making. In terms of loopholes, there are some. @Adrià Creixell is the one who can explain this best for Spain. Keep in mind though that you need to know exactly what you are doing going this way. Only more reason to find people who can give you the guidelines. 

Are you new into real estate? How did your interest arise?

Erwin