All Forum Posts by: Account Closed

Yes! This Wednesday I can do . BTL (buy-to-let). :-)

Originally posted by @Erwin Groenendijk:

@Account Closed, could you perhaps elaborate on the abbreviation BTL? Imagine that it has something to do with turnkey projects. And yes, we should. Would you have a moment this upcoming Wednesday from 19:00 to 21:00? We are organizing our monthly Meet Up (https://www.meetup.com/Real-Estate-Investors-in-Ba...) with this time fundraising as the topic. 20+ people gathering all very much in the Real Estate topic. 

@Alexander Svanevik, good to hear from you. Wanted to send you a message recently how it is going. Is Poble Sec providing you projects lately with the market heating up? @Javier De la Rosa was having some interesting projects there too. 

@Erwin Groenendijk people will always say it is impossible, no matter the climate, no matter the property. You have proven otherwise! And thank you for the kind words. Adrià and I have met up a few times for coffee. It would be good to meet you when you're in the city next. Right now I don't have any live projects, but I am focusing on coliving BTL strategies for buildings and apartments... Fully managed for the investor. We should definitely catch-up as I think we can work together. 

@Erwin Groenendijk excellent job! You guys are really finding great projects in Valencia.

After investing in your first property, the bank with which you took out your first mortgage will generally offer a better rate for subsequent purchases. Also depends on your nationality. The most they will offer non-residents is 60-70%.

Originally posted by @Rocky Balbosa:

Hello,

I would like to invest in Spain. We have a Sl. However the bank (Sabadell) is requiring us to pay cash 50% of the asset price. Are there banks in Spain that don't require such a pay down? I was thinking more like 25-30%.

Thanks for your help

@Darryl Fenton

Multi family apartments are very profitable here in Barcelona. Whereas land to build on is mostly available on the edges of the city, it's available. A lot of building work is being done now especially by developers. Check out idealista.com to get a feel for what's on the market and when you find something you like, you can from there with cross checking what's allowed by the Ayuntamiento (local city council). Let's keep in touch. I help international investors implement coliving strategies here so I'm happy to give you pointers and save you some time! It can be a challenge when you're trying to fit everything in over one visit to the city. 

@Darryl Felton Hi Darryl, Yes the mainstream platforms are idealista.com and Habitaclia.com. Those are the ones I find the most useful. What type of properties are you considering ?

@Nathan Currier-Groh Hi Nathan, To your point on fixing and flipping in Barcelona, yes this is still possible as the market stock of properties which need renovating is high. It is cheaper to flip on the outskirts (lower property costs 20 minutes outside central Barcelona and beyond). Barcelona has legal restrictions on short term lets and the government isn't granting additional licences in central areas. You would need to buy a property with an existing tourist licence to do this, or have a go outside the city centre/ other parts of Spain. In terms of leveraging with equity from abroad, I doubt it is possible. Worth checking with a local mortgage broker probably. You can get a Spanish mortgage fairly easily - normally there are no problems for EU and US investors with typical leverage to value being 50-60% for the latter.

Some really good points here. So much to watch out for, even as an experienced investor. One investor I know mentioned that the biggest points are finding the right property and having people you trust on the ground. Would you / have you ever used a buyer's agent to speed up / simplify the process? 

@John Warren thanks for sharing. It's really difficult to judge them as well before you use them right? I hope you haven't had any horror stories :-(