Looking for some advice

[Vin Martinez]

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

[Mark Stücklin]

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?

[Jeffrey]

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.

[Mark Stücklin]

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.

[Jeffrey]

Thank you.

[Author]

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