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REAL ESTATE Flipping Apartments in Spain

Robbi

New Contributor
Dec 18, 2020
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Hey All,

Having been hanging out in Spain for some months now (my better half is from here), I have been thinking about various value creating projects I could do from here. Occasionally, there are apartments that come up for sale at very good prices - the kind of money I could pay off entirely. Granted, all of these bargain apartments will require work. I'm not afraid to get my hands dirty, and enjoy a certain amount of this kind of work and refurbishment - one of my favourite value creating schemes is buying musical/audio equipment cheap comparative to the market, fixing up/cleaning up, and selling for profit. It works well because music is a hobby of mine and I usually learn something in the process. This isn't something I've been able to undertake while in Spain for various reasons (lack of space/tools to clean and repair; no method of transport here (yet)).

My question is; while I understand this is quite a step up from pro audio equipment/instruments in terms of paperwork, planning, taxes etc., is there any reason I shouldn't step up my game here in Spain? Has anyone else had experience doing something similar? Capital gains taxes etc.?

For reference, I'm from the UK - the property market seems very different here (not that I have any experience in the UK market outside of family and friends). Also, I understand there are many variables in turning a profit - location, demographic of area etc. My girlfriends parent's are architects, and could recommend certain professionals when required, although I don't believe they would be comfortable with me hiring them directly (working with immediate family for them is a no-no). Currently, I'm in the process of obtaining residency in Spain.

Part of the reason for considering flipping is as a hedge against inflation, the thinking being that it's better to hold a tangible asset rather than cash, and the buying of materials now (potentially on credit), would work out better in the long run. Is this logic sound?

Words of wisdom/warning would be appreciated; house flipping advice is all good. The prospect is slightly scary, but maybe that's a good thing?

Cheers,
 

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Last edited:

100k

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Hire a consultant that's already doing what you want to do, join FB groups for expats and ask for references etc.

I am not familiar with the market and not sure about the business model.
 

ragnarcallan

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Mar 25, 2020
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From what I've experienced in Spain, the Government has a fixed range which you can charge for properties. Meaning it has to be between x euros and x euros (I think based off of the square metres) . Which part of Spain are you based in? I have a few contacts in the industry in Catalonia that might be able to help you out
 

Robbi

New Contributor
Dec 18, 2020
8
16
13
From what I've experienced in Spain, the Government has a fixed range which you can charge for properties. Meaning it has to be between x euros and x euros (I think based off of the square metres) . Which part of Spain are you based in? I have a few contacts in the industry in Catalonia that might be able to help you out
Cheers--that's a good piece on info to dig into.

I'm in the Valencia region, down the road--maybe there are similarities in the areas (Spain, so you never know!).

Thanks,
 

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