All Forum Posts by: Erwin Groenendijk

Hi @P Seefoo, of course. Will send you a PM with the name of the group we are managing. Where did you buy your rental property?

Hi @Juan Pardo, where are you based in Spain? It seems that you already have build up some experience over here. 

Erwin

@Michael K Gallagher, happy to help. We chose for a clear reason to move from the north of Europe to the south though, and that is escaping the bad weather out there ;-). Scotland is not my nor I think of most others here specialization. If you do find good deals out there however, let us know. I know that the north of England can provide decent yield returns on rentals deals, that might give you a direction. 

@Javier De la Rosa Your explanation makes sense. Let's see what will happen and how to make use of it. 

@Joaquin Camarasa understandable, good luck with the project. The best thing is to now have a longer period rehab and not having to sell.

@Javier De la Rosa, following your explanation except for the point why you think that in 12-18 months the real impact is going to hit with unemployment etc. You think that around that time the economy will really feel the impact of the last 2 months coronavirus and government support?

He @Joaquin Camarasa, quite some insecurity in the market. We managed to pre-sell a property in Valencia and one of the buyers of a property in Terrassa just outside of Barcelona pulled back. Prices are dropping for at least 10%, for which if not already adjusted on Idealista, just know that this is happening. 

Like they said on the BP podcast, probably the prices that haven't dropped yet will drop in the upcoming months when it is really getting hot under the feet of homeowners. We are for example willing to accept offers or -10% at the moment. 

How is everything going there with your projects?

@Colby Meeder @Javier De la Rosa

100% following Javier's advise here. 

In the end it is all based on your local knowledge and contacts of course. Don't worry about this though, we can help you with this too. Spain is a different country with its own regulations as opposed to the USA where you can invest in other states of the country and still more or less having the same guidelines and contracts to be used (this is what I assume by the way). 

Just to add - base everything on your investment strategy. Buy-to-rent, fix-and-flip, multiple units or just 1/2, etc. What is your plan? 

@Robin Morales, that all depends on your background of course, but normally foreigners can get financing as simple as if you are living in Spain. The only thing to keep in mind that the LTV you could get is dropping from 80% (inhabitant of Spain) to 70% (foreigner). Talking with mortgage brokers could change positively/creatively though. If you might ever seriously considering buying in Spain, we would help you with our trusted mortgage brokers contacts.

@Robin Morales, when you are taking action let us know. Happy to guide you with the rules and regulations etc.

Thanks for the information, will keep it in mind. 

A good weekend!