All Forum Posts by: Erwin Groenendijk

@Shital Thakkar This is a very broad topic to discuss, however in general the difference in language and regulations are topics to take into consideration. For buying a property in Spain you have to pay 10% of transfer tax for example. The after per month costs are then again way lower as in the US. Depends on where you invest specifically in the country but on average the prices are lower in Spain than what you are used to in the US. This makes that you can do more with your money here in Spain than in the US.

Also interesting to hear @Africa Estrada's opinion. She is from Valencia originally and lived for a long time in the US, before now deciding to come back to Valencia, Spain again. We are working together on some projects and she is saying that the biggest difference is the amount of opportunities in Spain still available & the mentality of the people towards real estate. The country is not that exploited in terms of real estate yet. It is not a big hype to be flipping houses in creative ways of financing, for example. This can bring advantages and disadvantages of course.  

Hi @Ravi Kulkarni, there are multiple reasons but one of them would be that it would become possible to live in the beautiful country of Spain some time for yourself as well. I am from the Netherlands, but chose to do the same 4 years ago.

Of course it is possible to generate positive cash flow in Spain, however the real question is for what amount of cash flow or yield you are searching for. On average the rental amounts are not that high here in Spain, but if you are creative you can always find something that works (for example, renting out to expats, students, or per room)

Managing a property remotely in Spain has its challenges like managing any property remotely. You are not there, so it is really important to have a trusted person on the ground. Also the language is different and the rules & regulations, but that is something to overcome easily.

Regards,

Erwin

@Georges A., let us know when and we'll set it up. Curious to hear your story.

On it!

Hi @Raul Gomez, buying for less than 150k for a big completely renovated place in these neighborhoods will be difficult. @Adrià Creixell and me are now selling one a 120m2 bajo exterior including 10m2 patio in Mont Olivete, next to Ruzafa for 180k. It will only most likely not be available until September/December. Will send you a PM. 

@Phil Falcini We are active in Spain. Barcelona, Valencia, and the surrounding of these two cities. Multiple flips of apartments and we are now flipping an apartment building. Some of them are on my profile portfolio. Any questions regarding sharing tips/tricks/contacts/projects/etc. happy to help.

@Jon Latorre, where specifically are you investing in Spain? Curious to hear your story.

@Jim Scholten, pleasure!

Look, there are a lot of people out there that are dying to tell you how you should do it/begin. Like you are saying, begin somewhere with people that you trust or mean well. Don't think about the money yet, that will come if you develop your own strategy and give yourself time. You can also attend the Dutch investor Meetup events, for which in one of them @Geert Schuring is organizing them. I was a speaker on one of the last ones and you will meet a lot of interesting, honest people.

Hi @Jim Scholten, in general not all is possible, but a lot of topics are. The most important thing is first getting to know the individuals in these specific topics, or taking on a couple of 'normal' deals in the Netherlands with the Dutch rules and regulations, before diving deep in the sometimes complex concepts they are discussing here. Everyone can give you advice of where to invest your money in, but it is you who needs to make calculated decisions.

Do you have experience in real estate or have you done projects yourself?

@Johann Eriksen, that is already a good start. @Adrià Creixell and me have several projects now in Valencia and we are considering taking on two more in the upcoming time, so, if you are around Valencia, let us know to meet up. You can have a look at some flips that we are doing there for example.