Re: Re: Foreigners Are The New Friends?

#101874
Anonymous
Participant

@logan wrote:

@rt21 wrote:

Although I can well understand that the current uncertainty will present opportunities for those who wish to buy a holiday home or permanant residence in Spain, I would have thought that there were far better investment opportunities for speculators than putting their money in spanish property. I think the Spanish property market would probably be the very last place that I would look to invest any serious money in.
Richard

The sage of Omaha, Warren Buffet maintains when everyone is selling and heading for the exits that’s the best time to buy. I agree it takes a lot of courage to go against trends but that’s how money is made.
I used to have a Spanish partner when in business many years ago in Spain. His philosophy on property investment was, don’t be the first in or the last out, be the one in the middle. He was referring to the cyclical nature of property developments in Spain. That man is now very wealthy indeed.
The situation at the moment with many developments is the pioneers have gone and taken the loss, principally bankruptcy. The developments remains unfinished but will be desirable again at some point in the future. It will take investors to realise that. It is not possible to second guess when the upturn will come. However be assured it will.
Timings the key and as I keep repeating, risk requires reward. The greater the risk the larger the reward.
We all have differing motivations for posting on here. Mine is mild amusement during a quiet period in my business life.
If I can help anyone understand investment, economics and markets that’s a bonus

It was funny reading the above post, but more than funny, it was nostalgic too. I too had a Spanish business partner many years ago, although my business wasn’t exactly property related, unless you stretched the meaning a bit.

At one stage he advised me to expand and I agreed, reluctantly. Having got the taste for expansion, I wanted to expand some more and did, until he suddenly advised selling up immediately. This time I refused and we parted company.

A year later I discovered that I should have listened. I got out in one piece, but lost a great deal of money for not listening to a wise Spaniard who knew much more about his own country than I ever will.