Hi Tim,

I currently have two sets of investment criteria, though I am onto our 30th+ property:

1 The UK. Yield 7.5%, cash into deal < £10K, cash on cash return of > 10% p.a. I've actually just agreed a deal which is £5K cash in and 18% cash on cash return p.a.

2 Spain. I've been buying on one complex last year (I have 8 units) where the current deal is to take a €58K mortgage on a property costing €50K, but valued at €80K. Even with Spain's ridiculous transaction costs, the net entry cash required is less than £2K per apartment, though these investments cash flow negative by €70 per month right now. Once I get majority control of that community, I have a work plan and schedule (2 years) to uplift the value of each apartment by €20K with little cost other than to remove corrupt management (for which by law you need more than 1/4 of ownership of the complex)

These are the two main targets of my 2008 investment, both easily within your reach with a sum of £20K to invest. Up until 18 months ago, I was paying around £15K per investment in the UK. Now I buy BMV with bridging.