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CASE OF SUCCESS – BUY TO LET
February 26, 2020
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WE INTERMEDIATE IN THE PURCHASE OF A PROPERTY AND LEASE THE PROPERTY IN ONE DAY FOR 850 € PER MONTH.
ITURBE PROPERTIES counts with a vast experience in buy-to-let investments, and provides a full and personalized service to investors interested in these kind of transactions. We are proud to assist our investors, achieving the highest returns.
We proudly share our last case of success: the intermediation in a purchase for 188.000 €, formalized last Friday 7th February, and closing the leasing contract next day, 8th February, with a rent of 850 € per month (until June 2020).
A national investor contacted us in November 2019, interested in testing the Marbella market, a new area for our client. We studied his circumstances and preferences and suggested to initiate his investment in a central location, for an amount up to 200.000 €, and attractive for long term leases from September to June for a monthly rent of approx. 750-800 €, and for holiday leases from June to September up to 800-900 € per week.
Once we received our investor´s go ahead, we offered him a centric one-bedroom property, in Marbella´s main street and only 300 meters to the beach. The property was recently refurbished, with good qualities, and was also totally furnished and equipped. It required no additional investment or expense at all, and the property taxes and community of owner´s quotes are very low.
To our satisfaction, the property was reserved the same day the investor visited the property, for a price of 188.000 €. The private contract was signed during the following days, and the Purchase Deed has been signed on Friday 7th February 2020 (as it was a condition for one of the parties to postpone the formalization of the Deed for personal reasons).
During the purchase process ITURBE PROPERTIES contacted some potential lessees fitting the solvency requirements, as well as the duration and the location; and we are proud to confirm that the leasing contract was ready the next day, 8th February (only one day after the signature of the Deed!) for a monthly rent of 850 € until June 2020. Therefore, the property will be available in Summer time for holiday rentals at a higher price per week.
We would be more than happy to inform you if you are interested in these kind of transactions, and it will be a pleasure to provide our services. Our main aim is to get you receive the highest returns.
