Looking for some advice

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    • #240911
      Vin Martinez
      Participant

      Hi,

      I am looking to buy some investment property in Spain (currently looking at Estepona/Marbella area) with the goal of airbnbing/holiday let for income.

      My budget is around 1 million. My original thoughts was to purchase 4 new 2 bed apartments in a new development (possibly live in one, one day) at 250k each.

      This is all I have at the moment, any further advice or alternative strategy please let me know

      Thank you

    • #241002
      Mark Stücklin
      Keymaster

      1M€ is a lot of money. I hope it’s not the bulk of your savings as I’m not sure I would put most of my eggs in the Spanish property basket. Can I ask why you have settled on holiday-homes on the Costa del Sol as an investment strategy? The transaction costs are quite high, and there are running costs to consider. On the income side holiday rents are unpredicatable right now, what with the pandemic interfering with travel. Mind you, I can see how difficult it is to find a good return on investment in other asset classes these days. Is it the lack of attractive alternatives that has led you to this strategy, or do you like the strategy on its own merit?

    • #248068
      Jeffrey
      Participant

      Good morning Mark,

      Am seeking general advice on how best to borrow money (lump sum) using Spanish properties as collateral.

      Look forward to hearing from you.

      Thanks.

    • #248073
      Mark Stücklin
      Keymaster

      Morning Jeffrey, I don’t have any experience of that beyond taking out a mortgage. Have you consulted a mortgage broker or lender? You can find brokers in the directory, see Spanish mortgage brokers.

    • #248076
      Jeffrey
      Participant

      Thank you.

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