Quote:
Originally Posted by BrianC
From an inheritance I have the above sum to invest.
I am looking for an investment where I have a fair chance of doubling this in a 5-6 year period and am fully aware that this will come with an element of risk.
I am not looking for a lifestyle property or somewhere to retire to and frankly IŽd be very wary of any place that was promising 30%+ growth per year.
Ideally IŽd like to buy outright and have the property let and managed with minimal input from me.
Suggestions?
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You should consider carefully the location of your investment. Easy and economical access to your property is a consideration, even if you have engaged property managers. I am resident in Spain and active in the construction and property industries. At the moment the Costa del Sol is throwing up some superb investment opportuities, although you would need to borrow to acquire. Our organisation is acting for several distressed sales e.g. Fuengirola 2bed/2bath luxury penthouses, fully furnished e150,000 requiring only e10,000 deposit. In Almeria the same, at e200,000 with up to 100% mortgages available. All these come with a 3/5 year letting agreement with owner use for 30/60 days a year. Inland Andalucia does have properties for outright purchase for the sum you have mentioned, although most would require some sort of update/reform. Hope this helps Chris.