166 703.00 €
Type: Buy to Let
Mortgage rank: First
Interest payment schedule: Part monthly and another part at the completion
Min. amount of investment - € 100
Brickstarter has informed, that for the previous month, the interest payments will not be distributed, as the properties have incurred fixed fees such as utility subscription and internet. Brickstarter has also informed that they have already received some bookings for July and rents will be distributed in August.
This is not a skin in the game project.
There is no data on ground floor apartments. So the exit can be in a very long time or the exit price may not pay for the BrickStarter fees. Though we believe that is safe to invest if you are happy with 4-5% rental return. We believe that profesional management can increase the revenues and valid license reduces risks.
We just believe there might not be capital appreciation.
* The rent (dividents) on this property starts to pay after the apartment renovation is completed and it is rented out on AirBnb and booking.com, therefore expect a delay of payments between 1-3 months.
If you go for it, you can get it!
We were looking forward to another opportunity in Malaga and it has finally arrived.
Since the end of last year where we launched the Mitjana opportunity, we continued searching in this city, as it is one of the destinations that has grown the most in overnight stays in the first seven months of 2019.
This has meant a 49% growth over the same period of the previous year. The international market has accounted for 71.16% of overnight stays until July and 61.39% of tourists in general in the same period.
Because of the present and future figures being that positive and having verified it with our first opportunity, we have decided to launch a new opportunity in the center of Malaga just 100m away from the historic center.
It is an apartment with 1 bedroom and a bathroom, for 4 people, perfectly located near the Guadalmedina river. It is located in the neighborhood of La Trinidad, an area well known in Malaga for being the beginning of the “Holy Week” processions.
But the best feature of this property is that it has a garage and storage room, something very demanded by tourists, since when acquiring real estate in urban city centers it is always very difficult to find a parking lot.
The apartment has a separate bedroom near the bathroom and a living room with kitchen when you enter. It is a semi-new building of recent construction that has a garage and storage room.
In addition, there are other reasons why the property is an excellent investment opportunity:
|Purchase price of the property (including renovation)||145.860,00 €|
|Cost of initial works||2.000,00 €|
|Taxes, paperwork and other initial legal costs||0,00 €|
|Company Constituion and Registration||0,00 €|
|Other property acquisition costs||7.000,00 €|
|Other expanses||0,00 €|
|Minimum cash||600,00 €|
|Brickstarter Fees (Only purchase)||11.242,84 €|
|Yearly rent income||19.727,42 €|
|Amount to be received for the sale||191.708,26 €|
|Gross Margin (Sale Price - Purchase Price)||15%|
|Total dividends accrued||0,00 €|
|Dividends paid||0,00 €|
|Dividends in portfolio||0,00 €|
|Rental income||19.727,42 €|
|Brickstarter Commision||1.196,77 €|
|Annual Property Tax||281,50 €|
|Total expenses||8.956,50 €|
|OPERATING RETURN||10.599,33 €|
|Result before tax (Operating result + Financial result)||10.599,33 €|
|NET PROFIT||9.009,43 €|
|Revaluation of the property||15,00%|
|Current value of the property||166.702,84 €|
|Number of reservations||59|
|Average Daily Rate||78,51 €|
|Estimated annual income||19.727,42 €|
|Customer satisfaction rating||90,00%|
|Number of guests||294|
We return to Malaga! We have had to search a lot to find an opportunity like this.
In addition to being a multipurpose apartment, of the type that we like most for the Malaga market, a room and a bathroom, what will most define its performance are mainly two variables.
First, we have to highlight its location. Being just 200 meters away from the “Tribuna de los Pobres”, our guests can leave the car in the parking lot and visit both the city center and the Malagueta Beach just walking.
Secondly, we have to highlight the fact that it has a garage space in the same building, and that we acquired together with the property (valued at 18,684 euros). This fact will be very differentiating since very few apartments are advertised with parking lot, and when they do, this is usually in another location and not in the same property. (A storage room was also acquired, but it is not that relevant for market research)
If we take into account these two variables, we observe how the number of comparable apartments is drastically reduced.
As we can see in Graph 1, we have selected apartments with garage and same features. In this sense we can see a strong trend both in occupancy rates and in average income. If we take the aggregate data, we can see how the average income annually continues to grow in 2019.
Guests demand better places every year and value all additional services, always leaning towards real estate that includes services such as breakfast included, garage, bicycle rental, etc ...
Regarding the temporality of tourism, we see in the Graph 2 that investing in this apartment will lead to high income ratios during the whole year, being even better during the summer season.
In short, we are facing an excellent investment opportunity, not only for the acquisition price, but for its location, typology, and for including a parking lot that will allow us to differentiate ourselves from the other properties.
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