Opportunity
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Opportunity (by Richard [MI]) Oct 11, 2021 7:00 PM
       Opportunity (by 6x6 [TN]) Oct 11, 2021 7:25 PM
       Opportunity (by myob [GA]) Oct 11, 2021 7:44 PM
       Opportunity (by Allym [NJ]) Oct 11, 2021 7:52 PM
       Opportunity (by Ray-N-Pa [PA]) Oct 11, 2021 9:22 PM
       Opportunity (by Oregon Woodsmoke [ID]) Oct 12, 2021 12:44 PM

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Opportunity (by Richard [MI]) Posted on: Oct 11, 2021 7:00 PM
Message:

I've long been a person who looked at the opportunity that presents itself when there is trouble. It seems that one of the D's that many investors chase is disasters. Many of my best deals came after hurricanes as an example.

Well, for those who have the stones, look at the Canary Islands. Right now, the LaPalma volcano is in the news . Thousands are facing evacuation, etc. When there's disaster on this scale, there are always people who panic and just want out, even if they sell for 10 cents on the dollar. It's a great time to pick up bargains (as long as you avoid the lava). Now since we're not sure which way the lava will go next, it's still risky. BUT, it seems to be MOSTLY going in one general direction. Someone who was there and did some looking around and made a good assessment might pick up some bargains. Since the Canary Islands are part of Spain, you'd just need to see what the situation is regarding rentals and housing. I'm sure they have rentals there.

We all are pretty sure the eruption will stop before too long.

Plus as a bonus, maybe we could move some of our rentals OUT of the control of the current govt. (I wonder if the Canary Islands says tenants don't have to pay rent like our govt did?)

--24.180.xx.xx




Opportunity (by 6x6 [TN]) Posted on: Oct 11, 2021 7:25 PM
Message:

Probably the homes were built on a previous lava flow. --73.120.xx.xxx




Opportunity (by myob [GA]) Posted on: Oct 11, 2021 7:44 PM
Message:

RICHARD there are no stones left. There all rattling in your head!!!!

This is one big problem with investers starting out--THEY GET SIDE TRACKED.

Find your nitch at home- get great at what you do and stop the side track "stupid" ideas-- that suck your brain out through your nose!!!!!

--66.133.xx.xx




Opportunity (by Allym [NJ]) Posted on: Oct 11, 2021 7:52 PM
Message:

I get what you are saying. It's not about the Canary Islands per se, it's about finding the silver lining behind every cloud. Just so you know, if that volcano goes really south, there could be tsunami on the east coast. But this thing is why you don't do solar. Lot of stuff going into the air. Remember the "Dark Ages"? Well in the year 563 I think, there was so much volcanic dust in the air that crops didn't grow, for years. --108.24.xx.xx




Opportunity (by Ray-N-Pa [PA]) Posted on: Oct 11, 2021 9:22 PM
Message:

Was stationed in Spain during the early 90's

From what I recall, us foreigners were not allowed to own land in Spain. Many people would lease it for 99 years but couldn't transfer ownership.

I do like that you seeking out disaster. The more pain someone has, the bigger the discount.

Problem is the prices are rather inflated to start with so the discounts have to make it worth wild. I was an absolute estate auction this weekend and I was ever so close to nailing that place. But the list of items that had to get done included foundation issues due to being on a hill, septic lines on the neighbors land, leaky roof and the entire place screaming NANU NANU from Mork and Mindie

The six bedroom went for $62,500 Best I could have done was $61,900. I like looking for pain, but I also understand that I am absorbing someone else's pain. Do I really want to play with foundations and leech fields? Not really in 45 or 60 days from now. We will be snow covered here.

--24.101.xxx.xxx




Opportunity (by Oregon Woodsmoke [ID]) Posted on: Oct 12, 2021 12:44 PM
Message:

That's way to far from me. I like my real estate where it is easy to drive to.

I don't know about renting in Spain. Other European countries (and Britain) where I know a little about rental laws, I would never own rentals there.

Perhaps that would be a good place to own vacation villas. But then, you'd need to be there to supervise them.

There were some really good bargains on The Big Island of Hawaii the last time Kilauea blew her top. But Hawaii isn't a great choice for a place to own rentals and the area around Kilauea isn't the best place to do BnB.

There are usually some bargains to be picked up after a hurricane, if you are interested in doing a lot of construction work. --76.178.xxx.xxx



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