Saturday, May 29, 2021
Dear Your Overseas Dream Home Reader,
Welcome to your Weekly Wrap-Up! First, a big deal..
Save $68,000 on a Fully Furnished Beach Condo
Over the past six months we have had a breathless run of incredible deals at Playa Caracol on Panama’s Pacific Riviera.
It’s all thanks to a rare convergence of events…
Panama’s emergence as a global hub…
The Path of Progress on Panama’s Pacific Riviera and to the nicest stretch of beach this close to the city…a best in class developer…
And, on top of all this, an additional saving of $68,000 thanks to what I call “the Great Bailout.”
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Each of our deals at Caracol has been oversubscribed. I understand why. And I empathise if you have been disappointed. You have recognised how strong an opportunity and moment this is…
Which is why I’m so glad to have got RETA members another chance…
When an opportunity like this happens you need to grab it with both hands.
Here it is in a nutshell:
- Awesome Affordability: RETA members can buy a luxury and spacious two-bedroom condo a short stroll from the beach from only $144,200 thanks a $68,000 “bailout” from the Panamanian government…
- Totally Turn-Key: With $17,000 worth of furniture and fixings included, your condo comes ready for rental…or for you to spend time there.
- Huge Potential Gains: Three years from delivery I expect the machine to be humming and once it does I think you could make up to $37,230 gross per year in rent…and another $118,000 in potential capital appreciation for total profits well into the six-figures…
- “Auto-Pilot” Profits: These luxury condos are specifically designed as high-end rentals. They come turnkey down to the very last spoon. High-amenity beach living on the doorstep of Panama City hits many markets. And thanks to a five-year rental program you don’t have to visit, to figure out furniture…nor promote your property on Airbnb…a team of experienced professionals will manage and market your property for you, meaning you don’t have to lift a finger to generate rental income…
- The Beach Lifestyle in a Global Safe Haven: In the heart of a master-planned beach community, steps from the sand and sea, in safe and stable Panama, you can enjoy the coveted beach lifestyle whenever you choose…
If you’re a RETA member dive right into my full report on this incredible deal here.
Deep Value in Portugal
I’m once again completely charmed by Lagos…
That’s where I am right now…
My rental (and office for the week) is perched above Praia Porto de Mos, my favorite beach in the area—a near endless stretch of creamy white sand backed by towering sandstone cliffs.
To the west of here, there are stunning cliff walk that take you all the way to Praia da Luz. Keep going and you’ll reach the most southwesterly point in Portugal.
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This is my preferred place to stay in Lagos when I visit because it’s tranquil and quiet, and still an easy walk to the town’s historic center, and just a €3 Uber ride back.
Lagos is getting busy. Folks are arriving for beach vacations from Northern Europe, the U.K., and places where travel restrictions are easing. There are Asians who bought here for the Golden Visa, and more and more North Americans too…
There’s a buzz around town, a sense that the summer season is about to kick off proper.
It’s a huge contrast to my base on Portugal’s Silver Coast, which was still remarkably quiet when I left…
While just a three-hour drive away, the two regions are world’s apart in terms of the number of visitors they attract.
Indeed, that’s a big part of the reason I bought on the Silver Coast. In peak season, the Algarve is too busy for me. I prefer the peace and tranquillity I get at base in Praia D’El Rey.
I bought there last October while on a mammoth scouting trip of Portugal. I’ve now moved in, and over the past month I’ve become more and more enamored by this place. Not just the Praia D’El Rey Resort but the Portugal’s entire Silver Coast.
Its beaches are pristine, there’s a treasury of stunning historic towns and fishing villages to explore, I’m spoiled for great golf courses, seafood, and entertainment. And the people here are friendly and easy going.
Not to mention, the value is very hard to beat…
My condo meets all my criteria for a part-time base. It’s about as beachfront as you get in Portugal. And it costs me just under €1,110 a month (including mortgage, taxes, HOA fees, and golf club dues on two great courses). That’s less that what property tax alone would come at in California. And I’d argue that the beaches here are nicer.
The Silver Coast is European beachfront luxury at its most affordable…and as part of my mission to bring bargain real estate to RETA members, I dedicated this month’s issue of Dream Home Digest to the incredible deals I found there.
If you’re a member, you can read the issue right here.
Take a two-bed condo I found just back from the beach in a quiet and private part of Praia D’El Rey. Renovated in 2011, the condo has an asking price of just €145,000 ($177,026). An absolute steal.
Apply Portugal’s low mortgage rate and it could be yours for as little as €373 ($455) a month.
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In Dream-Home Digest we seek to find deep value real estate, properties that can hold their value, perhaps even see appreciation. But first and foremost, we look for properties that we can enjoy and use, that we can pick up for a bargain.
Of course, if you are looking for overseas real estate as a straight-up investment play, then you’ll do much better elsewhere.
And that’s what’s brought me to the Algarve…
The real estate market here is booming. Where I’m based, a two-bed condo that would have cost you about €280,000 in 2011, would today sell for between €700,000 and €800,000. And the same condo could easily gross between €40,000 and €50,000 a year in rental income.
Lagos is that rare kind of place that’s almost a perfect microcosm of everything that makes southern Europe so attractive to tourists. It’s historic old town spills down cobbled lanes, into shady plazas toward a state-of-the-art marina. You can walk to incredible golden-sand beaches, restaurants, bars, stores…walk to the train station and hop a train to Faro and its international airport is…
My priority right now is to position RETA ahead of the next wave of development…
We want to lock in deals in the best-in-class locales, while there is still the opportunity, like we have done with our Adega deal in central Lagos, or with Santa Maria and its incredible ocean views—where we could buy with discounts of $66,000.
Lagos is quickly readying itself for the next wave of vacationers, retirees, and the newly vaccinated. And as demand here soars, and developable land becomes more scares, we’ll be in position to profit.
As I uncover deals, RETA members will be first to hear…
A King’s Tower for $74,946
The pent-up demand for travel and vacations is surging across Europe. One of my team looking for flights from Ireland to Bordeaux, France, found his preferred airline completely sold out for months.
He doesn’t care much where he lands in France though…
My guy is aiming for the Atlantic coast of France to seek out bargains and take stock of the market in British expat hotspots in the wake of Brexit.
He’s looking at cities where he’ll rent a car and just get where he wants to go. Adapting your travel plans can lead to some awesome discoveries. And a French road trip is always a pleasure.
He’s already come across one property in his preliminary research that he’s planning on looking at in person and is worth sharing…
A medieval tower in the Indre region with a renovated two-bedroom apartment.
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Apparently, the English king Henry IV stayed in the tower in the 1300s. There are more rooms in the tower that could be renovated. You get to your apartment using time-worn spiral steps…
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You can check out the listing for yourself right here.
France’s Atlantic coast offers some of the country’s cheapest bargains and I’m excited to see what my guy will find.
You can expect historic homes in time-worn villages for under $90,000…apartments in medieval castles for under $150,000…and lock-and-leave pieds-à-terres in bustling towns and cities…
The only criteria I’m giving to my team member for his research trip is that the properties must offer great bang for your buck…
Stay tuned for what he finds…
Wishing you good real estate investing,
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Ronan McMahon, Real Estate Trend Alert
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Your Comments and Questions
Elaine says: Hello Ronan, My husband and I are looking at moving to Europe (likely Greece or Portugal) and are hoping to use the real estate part of the “Golden Visa” process. Can you recommend good Golden Visa companies to work with? Our budget would be between €250,000 and €350,000 Euros. Thank you!
Ronan says: Hi Elaine, my contact in the Algarve has been a valuable source for profitable real estate deals in the region and has also helped me find a handful of opportunities that qualify for Portugal’s Golden Visa program. If you’re a member, you’ll find his contact info in your rolodex, here. Portugal’s Golden Visa is, in my view, the best residency program for real estate investors in the world right now. It has been extended until January 2022 which means now is the time to get it if you’re interested. If it wasn’t for the current pandemic the chances are this program would be gone already. Depending on the location and the type of property you choose, you can pay as low as €250,000, all the way up to €500,000. In return, investors get residence in Portugal with the right to free travel in the 26 countries that make up Europe’s Schengen Zone. It entitles a spouse, dependent children, and dependent parents to residency too. The Golden Visa can lead to permanent residence after five years and, eventually, citizenship and a second passport. The low-stay requirement means that you only have to spend seven days a year in Portugal, then no less than 14 days each subsequent two-year period. This is important if you plan to seek citizenship. For Portugal’s Golden Visa, there are five different price points to choose from: The investment can also be made up of one or multiple properties, so long as the minimum threshold is reached. As I write this, news from Brussels is that the EU bureaucrats want the program stopped. All the more reason to act fast if it sounds like it’s for you…
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