With a bit of luck we will be able to buy flat number five within the next few weeks. It will be financed as usual with a mortgage covering 70% of the purchase price. The flat still has people living there who are not paying rent. This has made the purchase price relatively low compared to the current market price. It is also the first time I have gotten into this kind of “mess” but it will be a new learning experience.
With this purchase we would add property number seven
The warehouse counts as two according to the deed because they are two premises that have been joined together and sold to us as one. In the future they could be put up for sale as one if we wanted.
Yesterday we also looked at a flat less poland whatsapp number data than 200 metres from the beach. It is being auctioned off so it is unlikely that we will be able to buy it. Even better because they do not allow tourist rentals in the development. We could cover the mortgage by renting 10 months a year but it would be more complicated than usual. Now we are evaluating whether we want to spend the six weeks of summer holidays in Spain and spend part of the time working.
Our apartments pay for themselves
All of them. Even more so because they generate a positive cash how to start an online business with no money? flow. This is possible here in Alicante, something that would be practically impossible in Germany. In Germany, house prices are so high that rent does not cover the costs of a mortgage.
The good thing about Spain, despite prices that keep rising and b2c fax interest rates that are doing the same, is that there is still room for the leveraging game to continue working. It is true that capital is needed because they don’t give us 100%.
At least not to us
In 10 years, most of the apartments will be paid for. It seems like a long time, but we already know that in the end that happens like nothing. I have always said that. The apartments will be the income that my wife and I do not receive because we are entrepreneurs and do not pay contributions. Let’s see how many more apartments we can add by then.
