My name is Rafael Rosendo. I just set up a Real Estate brokerage in Vigo, Galicia, Spain.
Our client base is mostly foreign clients from all parts of the world looking to buy in these fabulous locations. The issue I have is the lack of a good move-in property. Our clients are looking for homes to enjoy in these areas and not worry about renovating nor minor fixing up.
So I have come up with an idea, why not set up a company that purchases these properties and offer them to clients in my database afterward? I know many investors that would trust me to find these homes, apartments or estates, purchase them and then have them list with my company to advertise and sell to potential buyers.
Now, what would be the next steps?
A private real estate fund? A real estate company that invests in these properties? I don't know precisely the right title. Can someone please help? Since I know what the buyers are looking for, I would like to be the person responsible for hiring architects, builders, and decorators.
My second question is how would this work? An example I raise €300.000.00 should I buy one property and move to the next one once it's under contract? Or buy multiple properties, finance about 50% and market them on my site while it is being renovated?
Your insight will be beneficial.