L am not trying to convince you of anything, to persuade or cajole you, Portugal is here and its not going anywhere but up, albeit slowly. Its full of holiday homes, absolutely loaded with them. Take a look at most blocks of flats after summer. All the blinds are down, balconies empty, no one there. That worries me to some extent as it makes ghost towns. 25% local inhabitants, 75% investment props, closed until next years hols.
Now who owns these ghost props, the Portuguese own them for their own pleasure and don’t rent out. (no doubt our Porsche owners) We have a built in 'buyers club' here in Portugal, don’t need to look elsewhere. We aee not not building our props for the Brits, we are building for them, our local in house market.
.....and that’s investment building. I have 8 UK investors funding this build and are very likely to see far more profit than what they thought. Its not a case of 'Build it and they will come' its a case of 'Research your Market, Build it, then SELL it to them'
I agree with your comments re banks dictating final prices (pay us back or sell `em off cheap)(next step repossession) (been there) and clients walking away, we all want action, action and more action but if left to the Portuguese developers, you just won’t find that here.
We are privately financed and can afford to wait...............and rent out until the clouds disappear. By keeping our heads down and not anticipating too much for the next 18 months except a steady trickle of sales and some good rentals, we come out on top.
Talking about over supply, Spain did that, just got greedy never thinking they would have competition or global problems and look at `em now. Thousands of apartments at give away prices, my advice, buy `em and sit on it, grab a few rents but expect nothing, you’ll be surprised in 5 years.
You know as well as I do, the investment market, when you leave it to others to control your money, has a risk element, my advice D.I.Y it. Its easy, just phone a friend......or two, form a group where decency, morals and principles are your main concern and forget expressions like 'its business' its 'beyond my control', 'we’re moving the goal posts'.....and forget megga profits, what’s promised is that we work together to deliver, if it works, we all gain, if not, well at least we tried. Nothing on this world is guaranteed not even the banks there is only one thing for sure, we all have a talent, a level of incompetence and friends who can help. If we appreciate what it takes to make money, its not just YOU, its all of US.
Sometimes I despair at the frustrations the Portuguese planning councils impose on us, but a quick chat with the group and the ideas just flow out. I’ll tell you, 9 brains are a darn site better than mine.
Working together, you can move mountains.............and we do, you just need three quotes.
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