European - looking for advice

[Nicholas Rizzo Naudi]

Hey I’m Nick from Malta (small island in the Mediterranean). I purchased a house  a few years ago with my wife which I have a mortgage for. The property is in a good area and has tripled in value over the years (current value 650K eur).

I’m looking to take out a second home loan to purchase an apartment and di short let’s with in the capital city. Prices for studio apartments (circa 80 sqm) go for about 200K in Malta and could generate about 20K cash flow per year.

The reality is it is a good 2nd investment, however I would not be able to reach financial freedom with 20K per year and I would also not be able to scale up as bank would not lend more.

Is someone able to offer some advice for someone who is in a situation like me? Currently I’m 34,  have a full time job and looking for financial freedom that would allow me to leave my job.

Appreciate any inspiration which comes my way.

Thanks all!

N