Marbella Repos. - Good deal?

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Rosinsky

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Does anyone have any opinions on the following deal -



The whole deal seems very interesting but I would like to hear some feedback from some the the Spanish Experts! Obviously the market is down - has anyone invested in these and made money? In theory it seems like a no-brainer.
 
Rosinsky said:
Does anyone have any opinions on the following deal -



The whole deal seems very interesting but I would like to hear some feedback from some the the Spanish Experts! Obviously the market is down - has anyone invested in these and made money? In theory it seems like a no-brainer.
Click to expand...

Would look into the legal side if things first. 6-9 months could be a pitch if these guys have just started up, as they may not have experirnced the process to know how long it lasts. Might want to check out the bank who's offering it in case they are close to bankruptcy, and the contracts would need to be watertight
 
Hi GDE, I can imagine it is complicated. Spoke with the guy offering these and he seems to know what he is doing. It does appear that it may be good value considering the fact that the rents are still very high but my question I suppose is even though I am getting such a massive discount - would there in fact still be that re-sale market. My initial thought was to hang on to it. The other consideration is that these type of sales will move extremely quick.
 
Rosinsky said:
Hi GDE, I can imagine it is complicated. Spoke with the guy offering these and he seems to know what he is doing. It does appear that it may be good value considering the fact that the rents are still very high but my question I suppose is even though I am getting such a massive discount - would there in fact still be that re-sale market. My initial thought was to hang on to it. The other consideration is that these type of sales will move extremely quick.
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What kind of yields did he mention? If all the legals were good and you could get yourself 6%+ after management deductions then it sounds like a good investment. The other factor would be who is managing it, and is that going to be a lot of hassle - if it is you might loose a bit of that 6%

I suppose the market there has to recover at some point? be it 3 5 o 10 years. Id be inclined to hold onto it if especially if you borrow from the bank and the rents are easily covering the mortgage. The gamble is if the market there will recover...
 
6% is not out of this world for a high end spanish villa.
I am sceptical until proven otherwise......looking at the taj mahal villa in link for 80k!!
Come on!
 
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