edpaiz
New Contributor
This is regarding investments bear with me youll see.
Here is my idea, i am from Guatemala but will move to Spain soon because of my my wifes work. I have been looking for apartments and noticed that there are a lot in Madrid that cost less than 50,000 euros (1 or 2 bedroom very small) this are being basically sold because owners are sick of them so probably i could get them for less. Guatemala sends yearly thousands of graduate students to madrid, so i a m thinking of offering this apartment to that niche market (me being from Guatemala i know a lot of people and i am sure i could get the word out ther of my apartments). I know the spanish market is sinking and that competition is fierce in the rental market, but i have somehting they do not a niche market that sends a steady stream of students (also Guatemalans are very tight with their conationals and i could also offer to receive payments in Guatemala currency in Guatemala because most of this expenses are paid by parents) my problem is the following: How do i fund it? i have enough money to buy one apartment (10,000 down payment, 5000 to refurbish and put furniture and decorate and hope to get a mortgage for the rest in Spain) but if id o gt a mortgage i am pretty sure that i wont get for a second apartment, how do i go across this problem. Also i am thinking 2 ways to pay investors 1 the apartment is theirs and they pay me a administration fee, so basically you give me 13,000 euros and i will give you a 50,000 apartment in 15 years plus 100 euros monthly (the mortgage for 20 years monthly payment is 210 euros i can rent it for 500-550) or the other one which bears more risk, you give me the 10,000 euros i pay you a 18% yearly and your capital investment 8 years from today. What do you reccomend i do? any other thoughts? i am really into this idea so please give me a hand with it you fastlaners!!!
Here is my idea, i am from Guatemala but will move to Spain soon because of my my wifes work. I have been looking for apartments and noticed that there are a lot in Madrid that cost less than 50,000 euros (1 or 2 bedroom very small) this are being basically sold because owners are sick of them so probably i could get them for less. Guatemala sends yearly thousands of graduate students to madrid, so i a m thinking of offering this apartment to that niche market (me being from Guatemala i know a lot of people and i am sure i could get the word out ther of my apartments). I know the spanish market is sinking and that competition is fierce in the rental market, but i have somehting they do not a niche market that sends a steady stream of students (also Guatemalans are very tight with their conationals and i could also offer to receive payments in Guatemala currency in Guatemala because most of this expenses are paid by parents) my problem is the following: How do i fund it? i have enough money to buy one apartment (10,000 down payment, 5000 to refurbish and put furniture and decorate and hope to get a mortgage for the rest in Spain) but if id o gt a mortgage i am pretty sure that i wont get for a second apartment, how do i go across this problem. Also i am thinking 2 ways to pay investors 1 the apartment is theirs and they pay me a administration fee, so basically you give me 13,000 euros and i will give you a 50,000 apartment in 15 years plus 100 euros monthly (the mortgage for 20 years monthly payment is 210 euros i can rent it for 500-550) or the other one which bears more risk, you give me the 10,000 euros i pay you a 18% yearly and your capital investment 8 years from today. What do you reccomend i do? any other thoughts? i am really into this idea so please give me a hand with it you fastlaners!!!
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