All Forum Posts by: Damian Bornes

Hi guys,

@Erwin Groenendijk my town, is not an university town like Granada, with tons of foreigner students. Maybe it's work as turistic one. But as i will manage the property i think will be better and easier the long term rent by at least one year contract for family from here, than make shorts rentals for tourists.

@Warren Talbot as i told Erwin, i will manage my properties. My numbers will run just with 5 properties using the strategy of buy 1 unit/year for the first 5 years, and in the 6 years to sell the first property that i bought (around 20.000€ profit) before to buy a new one, then you allways have just 5 properties to manage.

I'm learning a lot from you, and my intention is to be the rest of this year just analyzing deals, to know how the market already is, and what to expect from the ROI i could find here in my town compared to others. I wondering to do my first deal next year.

Thank you very much for your comments and wishes. 

Dear all,

I´m looking for my first deal, I mean a 3bed house around 80m2 in south Spain (El Puerto de Santa María) where i live, 40.000€-70.000€. I would like buy and hold for rent, and the numbers are:

Purchase Price: 59.900€

ARV: 70.000€

Closing cost: 8.000€

Rehab: 2.000€

Annual Taxes: 480€

Down Payment: 30%

Loan Interest: 2.6%

Years: 30

Gross Monthly Rent: 450€

Monthly Insurance: 65€

Other Monthly Exp.: 20

Vacancy: 5%

Rep. And Maintenance 5%

Cap. Ex.: 5%

TOTAL: CASH FLOW= 90€ ROI =7.73%

As I looking for at least 100€ Cash Flow or ROI=10%, I will offer 55.000€, that means Cash Flow= 103€ and ROI= 8.31%

All your comments are wellcome!!

Thanks in advance for your help

Hello Warrent, I’m thinking to do the same, here in my city (El Puerto de Santa Maria, Cádiz). Looking for 3bed/1bath about 80m2 and price range 40.000€-70.000€ with rent range 350-450€.

I hope keep in contact and know about all your progress.

@Paul DeSilva congratulations!! And thanks for sharing!!. This my first time here (BP), and this help me to go ahead with this idea and keep me learning before to make the step to buy. Still a lot to learn, any recommendation about it?

Best Regards from Spain, and good luck in your new project.