All Forum Posts by: Javier De la Rosa

@Taylor Cameron, sorry for the delay: Vacation Marbella is my friend's agency. When he started it was the only one, now they've got a lot more competition, buy they are the strongets.

If you are in Marbella, reach the guys from Vacation Rental Marbella. The founder is a friend of mine. They mostly work with really high-end properties. Also, I know nothing about Marbella, but I'm sure there must be closer areas with a lower entry barrier and decent yields.

Very interesting Erwin. It reminds me when I was looking to finance a portfolio of properties which were already cashflow positive. Every bank offered me X amount to buy my primary apartment, accepting the risk that I could loose my job next day. However, they would never lend me the same amount to buy the portfolio of properties, which I aways considered a safer option...but we have to play with the Spanish rules and find the loopholes as you mentioned.

Hi Robert, good to e-meet you. Completely agree with Celia and Erwin. A pitty we don't have a more straightforward banking culture here in Spain.

About the appraisal: Most banks will let you choose the appraiser as long as it is within the list of companies approved by the Bank of Spain. If you need one, I know a couple of good guys working with them.

The appraisal may take 2-3 weeks at most (in fact, it takes 2 days only but needs to be approved by some people and if it takes longer it seems as if it is a big deal...).

On occasions, the bank will appoint the appraiser, but it has never happended to me.

I assume you guys know Dovevivo? Www.dovevivo.it they are massive.

Hi Daniel, interesting post and strategy.

I am a property manager and manage customer's portfolios as well as our own portfolio (residential and commercial). I do understand "passive" income quite well, although real estate is not that passive unless you have someone doing the dirty job for you.

Although I'm personally trying to expand my own portfolio, currently I'm more on a "wait and see" stance. Our typical property management customers have 10+ properties.

Happy to discuss more in detail if there's any sinergy we can work on together.

Thanks,

Javier

Hi guys, 

I feel sometimes these rules are good as guidelines, but we all invest in different markets and conditions may differ and be more challenging (perhaps) here in Spain than in the US. 

I usually pay more attention to cashflow and, as long as the net ROI is within my acceptable range, I'll go for it. I mean net ROI because I don't care about gross. The net one is the figure I like to have in mind, as it is the more realistic one and the only one that will let me know if there's room for a hiccup or not.

I also have "gut feeling" rules I often use like "whould I live here"? Even if I'm buying in areas where initially I'd never go to live in, I think "if I'm in trouble and I have to sell everything else, would I live here? even for a short period?" If the answer is no, I think I may have a hard time finding decent tenants... 

Hey Juan Martin!

BP is definitely very US centric, but there's a little BP community here in Spain and making some progress. If you spend some time on the forums, you'll see a few regulars. 

I am an investor as well as property manager and advisor, Happy to get in touch over here or Linkedin (I use more often).

And welcome to BP!

Javier

Gentlemen, the report covers "the period up to 31 March when Covid-19 was at its peak in parts of Asia but had yet to take its toll on large parts of Europe, North or South America."

As for the 1.2%  12M appreciation in Sevilla, and this city-region being above Madrid and other on the ranking, it may make more sense than at first sight. To me it is not that relevant if its above/under Madrid or Barcelona at this stage, but I think it reflects the market was nearly at peak (if not peaked already) before Covid. A 1% appreciation in 12M is quite close to no appreciation at all...

Would love to be in touch! As @Erwin Groenendijk mentioned, BP is a great source of contacts so far in Barcelona. Haven't done any business together (yet), but it's good to share insights.

I'm based in Barcelona and mainly buy residential and commercial rental units. I also do flips when it is the right time to do so.

I also manage a significant rental portfolio for our customers.