- Madrid, Madrid
- Votes |
Hi, first of all I introduce myself: My name is Guillermo, I'm 24 and I'm from Spain (you'll notice my english is not perfect at all). I have a small online business that makes around 60.000€ a year... now I what assets!
I've read some books about getting different concepts and knowledge about money like the ones from Robert Kiyosaki (I love then, if you haven't read them, do it!). I've just read one book about Real State "The ABC's of Real Estate Investing - Ken McElroy", I'm not an expert at all but I feel like starting.
Today I was walking around downtown where I live in and I found a comercial property for sale. It's a small one, just 35m2. I called the owner and he wanted 155.000€ (no way), I made a quick math in my head and offered him 47.000€ and he accepted (I thought we was going to insult me or something).
According to my numbers, the ROI is 10% putting 47.000€ down (no loans, Warren Buffet style). I've read in this site some beginner who get over 20% ROI with no problem.
What do you think about buying this property? isn't the ROI a bit to low? what about not buying debt?
Other thing I'd like to mention is that the owner has another comercial property right next to the one I like and he has not rent it nor sale it in a whole year.This makes me wonder if it's a good idea, maybe small business are unstable so my investment will.
What do you guys think? Thank you very much.