All Forum Posts by: Erwin Groenendijk

Hi Victor, 

Thank you for sharing your story. Hope everything worked out with your medical treatments. 

What made you move to Silicon Valley, work? And where are you now in your real estate adventure?

Regards,

Erwin

Hi BP community,

Originally, I am from the Netherlands and for approx. three years now living in Barcelona, Spain. Since some time now, together with two others, we started a company buying, renovating, and selling houses in Barcelona and for the moment mainly Valencia (fix&flip). This post is meant to share our tips and tricks how we make the most out of our deals in Spain (this specific one in Valencia), and also very much to ask your opinion and experience how to perhaps do things different/better.

The project: The apartment building is situated in the Tormos neighborhood of Valencia, street Carbonell. The apartment is located within a 15 minute public transport distance to the old city center and also 15 minutes to the beach in Valencia. Our team completely renovated the third floor exterior apartment. The apartment is including a lift and balcony, and in total a surface of 95 m2. Although the apartment is relatively well maintained over the years, the renovation included a new (open) kitchen design, bathroom remodelling, painting of walls, new flooring, electricity structure and interior finishes throughout the apartment.

The renovation lasted three months and the offering of the apartment on the housing site is already 2 months with 3D renter photos, giving us a hot list of people showing interest or visiting the apartment in the meantime. Total investment is 106k and expected selling price is 145k, resulting in a +/- 39k profit. 

Needed: tips, tricks, ideas, trusted contacts, or just getting to know individuals dealing with similar projects. 

Thanks!

Erwin

Dear all,

A lot of insights and a lot of ideas. Last month we came together in Barcelona with our second Meet Up discussing these topics in person with like-minded people. In the end, talking with each other is what helping you move forward. We are planning to host our third one in June, so if anyone is in the possibility of attending please feel free.

In Meet Up you can find our group under 'Real Estate Investors in Barcelona'. 

Thank you for referring @David Fernandez. I think you were attending the very first one we organized. Glad to see that everything is going well. 

Erwin

And here I can help you a fair bit in terms in Spain @Justin Wolfe. I am from Holland but currently working and investing in Spain. What would you like to know specifically?

Also for the others having plans or ideas about the Spanish market, would be interesting to get in contact. @Mike Lambert, do you have a lot of experience in Spain? 

Cheers,

Erwin

Hi @Sophie Mia,

Good to hear your plans and the moving to Amsterdam. Are you Dutch yourself? 

Can not give you precise information about these topics as I am from Holland but currently working & investing in Barcelona. What I can do is refer you to @Jen Mendez, who is organizing real estate meetings on multiple locations. 

Good luck!

Erwin 

Again, a really exciting/stimulating podcast. Shared it with my community of investors in Europe!

Came to Barcelona 2,5 years ago for work and since then... Well, you probably guessed it, it is hard to say goodbye now ;-) We are focusing on 'normal' real estate for the moment, apartments that need a lot of work and can be bought at the right price. We are now slowly moving buying buildings though, as our community of investors is growing. 

True that commercial is a completely different game. Would be very interesting to meet your contacts in Barcelona to share experiences, learn from their commercial experiences and perhaps help each other out when the moment arises.  Would they be open for that, you think?

Also please let us know when you are back in Barcelona to have a coffee and meet in person. For you applies the same story it seems, that after your MBA you never returned. Where did you do your studies?

Erwin 

@Kevin Elguer Correct, together with two companions we are investing in Barcelona and Valencia at the moment. Buying, renovating, and selling, together with a community of investors that we are creating. Really exciting how everything is moving so far!

How did your advisory firm ended up? Is it still there? Would love to hear your story, experience, and how you eventually ended up in the US. 

Glad that you and @David Fernandez are finding each other here via BP. I have also been talking with David a lot and he has been a great help. We even each other met with one of our Meet Up's in Barcelona.  

Hi @Kevin Elguer, cool to hear you story. Good luck with it! Have you been living there for a long time?

Is there a reason why you didn't already start investing in Spain? A lot of opportunities there too.

Regards,

Erwin

@Fredrik Kaarem, @Dougan Milne, @Alexander Svanevik, here is our Meet up link: 

https://www.meetup.com/Real-Estate-Investors-in-Ba...

Looking forward to meet you guys having a beer