He leaves the country for a few days and we bag six points. Man is clearly a jinx and the sooner he relocates permanently in Spain, the sooner well can win promotion back to pl
Is that Lanzarote in the distance? If so I was opposite to Fuerteventura, where you are? last week. Montana Roja near Playa Blanca in Lanzarote. Been back a week
Yep that's lanzarote you can see. A local developer ( Enclish) is taking the Mrs out for the day tomorrow on his yacht, got chatting in a bar and he has property the other side of the island (El Cotillo) is promising us a chance to buy two properties, one to live in and one to rent out for similar sums to the house on the mainland. If I don't return fat paddy has had me kidnapped. Because it's a year round destination the rental returns look v good. Best case we buy, worst we have a nice day out and it only costs me for a spot of lunch and a Few bottles of vino.
It's not from plan! They are built. BIL knows the developer and has dealt with him previously. If it looks too good then it is and I walk away..... Simples.
Partial to em. ( not frozen). Didn't expect it to be green I guess they blended the mint leaves into it. Was so good will be out after dinner trying a few more!
If you're going to be buying a rental property, beware that they're a pain in the arse - bigstyle!. Lots of maintenance, advertising, and there are always problems that holidaymakers want fixed immediately (understandably). Lots of time & frustration emailing quotes & explaining simple things to some incredibly thick people. Lots of chancers wanting something for nothing, & many people who have no respect for your property. You can find soiled nappies strewn all over the floor, sofas, walls etc. Not pretty. If you're really unlucky, you can get people trashing your place. Another worry (more prevalent in the US, tbf), is being sued - often because you've been helpful & provided washing powder for nowt that little Jimmy is allergic to, or some such enraging thing. Then you get stuff broken or nicked - cutlery down the waste disposal, kettle microwaved or stolen (honest!), router nicked or destroyed. Expect to lose all towels, facecloths, dish towels, sheets etc - in fact, anything that's not nailed down. Often it's actually the cleaners - or even the Management Co., if you use one - often because they've got those very items you need replaced for sale! (coincidence?). Then there's the joys of currency exchange, guests with no english or Spanish, the taxman in both countries ..... the list is endless, believe me. I had a place in Florida for 8 years. You name it, it happened. Biggest problem was being threatened with being sued if the internet or phone was down. Usually it wasn't - it was just thick guests, but you had to pay the call-out fee anyway. If you have a pool, it gets even worse. I'll give you all that detail if you're interested, but be prepared for toys being put where they shouldn't, floating turds welcoming new guests, extortionate repair costs, poor maintenace from 'pool boys' etc. Nightmare. Don't say you weren't warned. Also remember that the competition are all year round too - the cheap hotels & all-inclusives are usually the first to get booked up, so that depresses the demand & consequently, the prices you can charge. Depends if you want the quiet life or not. All of the above happens fairly regularly, but tbf, it's a small percentage of renters you have the problems with.
Would be living next door more or less, but let it via an agency and have a management policy to cover damage and theft. Letting wasn't even on our list but will look to see if it is viable. The accountants will crunch the numbers. Early days... But worth a look.
Good chance it is viable. But if it's that viable, ask yourself why it's up for sale. It's not so much the numbers, but the hassle involved to make the numbers. Retirement is supposed to be about avoiding hassle, not attracting it. Manco's & cleaners don't come cheap either, btw. Not trying to put you off, btw. Just a heads up from personal experience.
Yeah, I think they're good investments. Where we stayed the couple renting have built a portfolio of 4 villas. They always seem to have bookings throughout the year. As you say the weather is pretty consistent all year round and keeps their properties mostly booked. Easy to get to, quite cheap for food and car rentals etc. One thing I picked up on was that the groups of villas (say 20 in a complex) seem to have to create and be part of a housing committee - not sure if they have to put into a central account a few quid to cover bin collections, servicing of local utilities (street lighting) and litter collection. Perhaps the Spanish have a limited council service/no council tax?? Worth checking.
Just realised I lied. Memory playing tricks. They actually melted my kettle on the cooker, not the microwave. The fact that the kettle was plastic & had a kettle lead hanging out of it didn't seem to register for some reason - it still got put on the cooker!
