Saturday, August 21, 2021
Dear Your Overseas Dream Home Reader,
Welcome to your Weekly Wrap-Up!
I feel a bit like a wartime general right now…
When I sent my scout Eoin Bassett to Portugal last week, he had two missions:
- Get an update on the best real estate deals on the Algarve…I haven’t had boots on the ground there myself in two months. Things are moving fast, and the opportunity is so strong that I want at least one team member there every quarter.
- Do some exploring on the way…
He started in the north, exploring little medieval hill towns in the mountains near the border with Spain…where you can buy farmhouses in need of renovation and couple of acres of land for under $100,000, as well as village homes for as little as €22,000 ($25,713)…
From the moment he set foot in these hill towns, he fell hard for the Portuguese lifestyle. I thought that he might not even to come back…
From one of his dispatches:
“I can’t sleep. Crumbling houses, olive groves, and sunlit terraces race through my mind. Which one…which house… I just love this town. And it’s going to be discovered, surely.
“The first house I saw is just €40,000. It needs work. (All the houses do). But this one could be my four-bedroom hill-town home.
“I would sit on the cobbles in the shade of the grapevines and read and drink wine.”
|
|
He continued:
“I’m in love with this town. It’s among the safest, most relaxed, and romantic places I have ever been.
“Well-tended roses climb over the doorways of restored houses. Around cobbled street corners you find little parks from which to admire a breathtaking view and savor the smell of freshly clipped box hedging. Swooping swallows chirrup above you. Goat bells gently tinkle in the valley below. A distant rooster crows. The church bells call ‘lunch time.’
“Take a meander out of town along old Roman and medieval roads into the olive groves. Pack a lunch of bread, wine, and olives. Get lost in a forest of chestnut trees, pick figs from roadside trees and ripe blackberries from shrubs.
“Stepping out of a restaurant at 10 p.m. I found happy children playing after dark. There’s a couple of art boutiques, as well as local cork, ceramic, and leather craft spots…and a famed artisan chocolate store…
“I have the classic mix of emotions when you find real estate you really like, which looks like it could also spell opportunity to make some money…greed and fear of missing out…”
Eoin’s reports got me so excited, I’ve decided to scout these hill towns myself in the first week of September.
I already know I’m hot on Portugal. I spend part of the year in my beachfront condo on the Silver Coast. I’ve invested in multiple properties here…and am always looking at other opportunities. But I also just love the people, the natural beauty, the food, the low costs…
As I explained earlier this week, Portugal is a country that’s packed with opportunity for savvy real estate investors…and it’s the reason I’ve been coming here since 2002 and bringing so many deals to Real Estate Trend Alert members.
Luckily, I didn’t lose Eoin to that little hill town.
On the next leg of his journey, he pushed on to the Algarve, on the far southern coast, which is marked by bustling resorts, charming historic seaside towns, and, of course, stunningly beautiful beaches.
|
|
Although it’s been popular with European tourists for decades, and in recent years has been getting noticed by North American visitors and expats, it’s a region that’s nearly unparalleled in Europe in terms of the returns it can offer.
I’ve found opportunity in all parts of this region. I’ve had boots-on-the-ground extensively…but what Eoin found on this trip surprised even me. It shows just how quickly conditions on the ground can change in a dynamic market like the Algarve.
You can get all the details, as well as the scoop on those captivating hill towns, in a Zoom chat I recorded with Eoin soon after he returned home.
|
|
Eoin has also been hard at work compiling all his findings from Portugal…the places, the properties…while I crunch the raw data to pinpoint the best opportunities and investment angles.
Today, I’m dropping the full report on our Portugal opportunity. It’s called “The Dream Home Guide to Bargains and Profit in Portugal” and it’s packed with listings, video walkthroughs, maps, the contact details you’ll need to make a start in Portugal, and a whole lot more.
Where Those In-the-Know Go in Puerto Vallarta, Mexico
I’ll admit it…I’m jealous. And I brought it upon myself.
Another member of my team, Jason Holland, was busy scouting the world-famous beach destination of Puerto Vallarta this week.
This Pacific coast city is one of the most successful expat communities in all of Mexico. Thousands of snowbirders come to escape the freezing weather back home. In Puerto Vallarta they can enjoy tropical weather, great dining, and the beach.
Not only have you the North American market. You also have a big domestic market. For the 1.5 million residents of Guadalajara, Puerto Vallarta is their beach town.
Puerto Vallarta is a destination I’ve visited many times before, but when I was there on a scouting trip last March, it really clicked with me. I had more time to explore, acquaint myself with the city, and dive deeper. And what I found was very appealing.
I sent Jason there to get an update on the market, to dig for deals, and to see what he could find in the surf towns and seaside retirement havens to the north of the city.
In the Versalles neighborhood, to the north of the town center, he found a rapidly gentrifying area where old single-family homes are coming down and modern condos are going up. Not only that, but innovative chefs, attracted by cheap leases, are opening small eateries with creative menus—Taiwanese, gourmet burgers, nouveau Mexican, and many other cuisines…plus, there is a low-key nightlife.
Versalles is becoming the place to go for the in-the-know locals, expats, and even savvy vacationers. Did I mention it’s close to the beach too?
|
|
It’s hip, trendy, and on the cusp…and one of the areas I’m keeping a close eye on as the Zona Romantica, considered the premier neighborhood in Puerto Vallarta, is maxed out and areas to the north get “upgraded.” Versalles is on this path.
You can check out Jason’s on the ground reporting here:
|
|
Closer in town, I’m looking at Centro, which neighbors the Zona Romantica. There’s a lot of charm here. Restaurants, bars, street vendors, and craftsmen. In Centro you pay lower prices but are effectively getting a Zona Romantica experience.
Indeed, right now I’m super excited about an upcoming Centro deal I’m bringing to RETA members.
We’re getting two-bed condos with amazing views that start from about $250,000…with members getting killer pre-launch discounts of $60,000 and even more.
RETA members will be getting the full report within two weeks.
Stay tuned…
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 QuestionsAllan says: Hello. How about Mérida, Mexico? I hear it’s becoming very popular. Thank you. Ronan says: Hi Allan. I’m a big fan. Mérida has sparkling clean avenues and leafy cobbled plazas, art-filled galleries…live music…amazing restaurants… It’s a booming city, buzzing with innovation, a major hub of business. One of our most recent RETA deals was for luxury water-view marina condos only a short drive to Mérida. I like the idea of living on the beach and coming to town for entertainment. From the coast of the Yucatán you can explore miles of beach, the rich Mayan heritage of the region, and of course one of the world’s most stylish colonial cities… However, I should warn that the summer months in Mérida are hot and humid, and not for everyone. The average high in July is 95 F and the low averages just over 75 F. But it’s always a few degrees cooler on the coast, plus you have that refreshing Caribbean breeze. Everyone who’s anyone goes to the beach in the summer. And this was a big part of why I narrowed in on this coast for our RETA deal. We’re tapping into two rental high seasons—snowbirds flock here in winter and well-to-do locals from Mérida come in summer. RETA members could own two-bed, two-bath condos with spacious terraces and with discount of $52,313…that’s just shy of 25% off! So, our RETA-only price was just $209,800. Five years after delivery I reckon these condos will be worth $380,000. And I figure on potential rental income of $22,800 once the community is up and running. That’s a gross yield of nearly 11%.
Connect with us on Instagram |
