Finished: fully repaid!
We continue working and trying to take advantage of the current uncertainty, in order to look for the best real estate bargains. We want to buy now all the properties that will be much more expensive in just a few months.
We are back with a new brand opportunity with a large price discount (Euro 30K) from its February´s price. Despite its fantastic location, it is the cheapest price per square meter that we have ever bought.
Our goal, as usual, is to buy and refurbish this apartment, getting all its vacation rental permits. This time it is going to be almost like flipping the property, as the final selling price we have forecast is still lower than the current market price. Although we want to sell the property as soon as possible, Brickstarter will be managing and renting the property until that moment comes.
In our business plan, we have assumed that the tourist sector will be in crisis until the end of 2025 and therefore we will be renting the property as a mid-term rental during most of the year.
This is a very conservative assumption, as it implies that the tourist sector won't recover during the 2021-2025 period.
In case it recovers so we manage to rent the apartment as a vacation rental property the whole year long, the yield will increase notably. Also with a higher demand for vacation, rental properties, we will manage to sell the property sooner than forecast in our current business plan.
The main reasons to invest in this opportunity are:
- We are buying this property with a 25% discount price over its initial price back in February 2020. It is the lowest price per square meter we have ever bought in Brickstarter. We will be able to sell the property in a short period of time, as the forecast selling price per square meter is under the current market price.
- Location. It has a perfect location in downtown Cádiz, the historic center. It is surrounded by Universities (more than 26 thousand students and workers), hospitals, and all the touristic points of interest.
- Typology. It is a one-bedroom and one bathroom apartment with a spacious living room and an integrated kitchen. It is a very spacious and bright property with a small dressing room. Located on the ground floor of a recently renovated building, it complies with all the requirements to obtain a vacation license.
Why invest in this apartment?
23% disccount over Februrary´s price: 30 thousand euros disccount
High demand of these kind of properties: Large, mid, and short-term rentals
The lowest price per square meter ever bought in Cádiz: Despise its great location and typology
Information about the apartment
We want to take advantage of the current market uncertainty in order to buy this apartment with a large price discount.
It is located on the ground floor; it is a large and very bright apartment due to its large windows. It has a large living room and we will do a few changes in order to incorporate the kitchen. It also has a large bedroom with a bathroom and a small dressing room. The property is located in a building that is in perfect condition as can be seen in the photographs.
The whole house is exterior and has a lot of light. With high ceilings and exposed beams, it is a very attractive apartment that will be easy to rent.
The distribution and its location are perfect, for both students and professionals of all kinds.
It can accommodate up to four people, so it is perfect for couples, small families, and even small groups of friends.