Tuesday, February 16, 2021
Dear Your Overseas Dream Home Reader,
Tomorrow, I’m inviting RETA members to join me on our first-ever virtual Members-Only Scouting Trip (MOST) to Portugal’s Algarve.
Right now, this is the next best thing to putting boots on the ground…and toes in the sand…in Europe’s hottest beach destination.
The big difference is that when you visit the Algarve as a RETA member—even if it’s just a virtual trip—you can expect some very juicy deals…
While putting this MOST together I went all out, calling in favors and squeezing every contact in search of the very best opportunities in the region. And what I found didn’t disappoint…
In fact, right now I’m sitting on a deal so hot, I’ve decided not to wait until tomorrow to bring it to members.
In short: RETA members have a discount of close to $42,000 on stunning luxury condos in the Algarve’s best beach town, Lagos.
|
|
Lagos is arguably the most historic town on the Algarve. This was home to Henry the Navigator and the adventurers of the Age of Discovery. It’s a pretty and happening place, compact, low-rise, and walkable.
Its historic old town spills down cobbled lanes, into shady plazas toward a state-of-the-art marina.
And along the coast, hugging the town, you’ll find semi-secret sandy coves, long stretches of postcard-perfect golden sand, dramatic cliffs, and rugged sea stacks…
|
|
Lagos has amazing restaurants, artsy boutiques, imposing old fortifications, and a Southern Californian vibe. In fact, I know of at least two Californians who say it’s a better place to live than California…more affordable, certainly safer…with weather just as good.
RETA members can buy a luxury two-bed condo here with a discount of close to $42,000. These condos are exquisite, with home intelligence systems in a community with a lagoon pool.
I figure you’d see 8% annual appreciation and a 10% gross yield from these two-bed condos.
It’s a great deal if you want your own luxury condo in arguably the Algarve’s most fashionable and pleasant town…
And remember, we can use leverage to supercharge all of our plays. Portuguese banks are lending to foreigners at incredibly low rates, sometimes with as much as 80% loan to value.
For this Lagos deal, mortgages of up to 80% are available, with rates less than 2%.
These condos put you a short stroll to the beaches, nightlife, and everything the old town offers. Many are 1,300 square feet or more, plus spacious terraces. An ideal place to live if you’re looking for a place to park for yourself for the winter.
And like I say, I expect these condos to rent extremely well, too. In fact, the developer is ensuring many come with an office, ideal for the digital nomads and work-from-anywhere folks flocking to Lagos…
|
|
With 300 days of sunshine a year, stunning beaches, and world-class golf, Portugal’s Algarve attracts millions of tourists each year.
In fact, even during global lockdowns and a pandemic, rentals in the historic town of Lagos on Portugal’s Algarve are still doing okay.
My contact there tells me that in 2020 the average rental still rented for around 35 weeks. With the right kind of property and no pandemic you could expect to rent for around 40 weeks of the year. (With the condos RETA members can buy today, I figure on a 10% gross yield.)
These figures are incredible, but not surprising…
We dig deep in the world’s internationalized places for precisely this reason. We seek out those parts of the world where—no matter what happens—people always come.
And in times like this, these internationalized destinations show their true value.
Like I say, the Algarve has perfect weather, amazing beaches and world-class golf. It’s easy to get there, the cost of living is low, the food is great, and it’s safe…peaceful.
It’s exactly the kind of place people want to escape to. Folks have been coming here from all over the world in increasing numbers for decades. And now, it’s attracting more long-stay visitors and remote workers too.
With a discount of close to $42,000 from the get-go, we’re locking in an incredible deal.
But remember, this is RETA only. If you want to learn more, you have to be a RETA member.
If you’re not a member, hang tight. I will bring a chance to join our MOST and learn more about our Algarve deals later this week.
Wishing you good real estate investing,
|
|
Ronan McMahon, Real Estate Trend Alert
Like what you’re reading?
Send your thoughts to feedback@realestatetrendalert.com. I’ll post and respond to as many of your emails as I can right here in the e-letter. Find out more about our feedback policy here.
Your Comments and Questions
Phil and Steph say: Hi from Canada. We really enjoy reading your reviews and have come to trust your judgement. We have been looking to purchase an investment property. We have had rental properties up until this year, when we decided to take advantage of the soaring housing prices and mitigate some risk with the economy’s hardships. We have some extended family in Portugal and travel there almost every year (mostly to northern Portugal). We have looked at Lagos, Portimão, and Albufeira. Personally, we like Lagos but are there good rental prospects; the market seems very strong still (one would think between Brexit and COVID it would be far less). We were hoping for some guidance and maybe some suggestions. Ronan says: Hi Phil and Steph, Smart move…cashing in with a view to diversifying. The rental market in Lagos is extremely strong. COVID and work-from-home ultimately will play in its favour as its appeal as a remote working destination continues to grow. The rental market is strong right across the Algarve, but Lagos has the potential for the highest yields because there is such a chronic shortage of hotel rooms and it has stronger overall appeal for the longer-stay crowd. Be sure to tune into the virtual MOST tomorrow for more details on our opportunity. And if you’re not yet a RETA member, watch out for the special offer I’m working on. You’ll be able to avail of it from Thursday.
Connect with Ronan on Instagram |
