Hey I appreciate you taking us on your journey of buying a building. I'm a real estate investor in the US as well and my brother and I have been looking for the exact same type of property in the Algarves. So I know exactly what you're going through trying to find a building that's good value that meets your specifications and then competing with other buyers because the same finite specifications you're looking for others are as well. Which was why I think your previous video about the Portuguese real estate market downplayed the very issue you brought up in this video. In general in Portugal as a whole there may be an abundance of properties compared to the number of buyers but the type of properties that you and me and many other buyers are seeking, especially in lisbon porto and the Algarve are few and far between. One of the key specifications that I wanted was a garage. I'm going to be traveling a lot from Portugal as my base and don't want to park my vehicle on the roadside for months at a time or pay for parking (parking is at a premium in the Algarve). Very few buildings have parking as well as being able to be renovated into a building with multiple units. My point is the housing stock is more limited than even I realized until I started to seriously search for what I wanted and it sounds like you're describing that as well. Wish you and Kalie well with the search.
The interest of strangers on buying houses on Portugal its leaving portugueses out of houses and that is sad. The foreign investers are buying and renting very expensive to us, poor portugueses. Some people say that its market but its a real unsensible and irresponsable investment
Thanks for sharing this wonderful video n for sharing your experience with d project costs of renovations a property in Portugal. Your anticipations r meticulous.
Great info Josh! Definitely a fun but complex project. Did you factor in your time? I’m curious to know how many hours you’ll end up investing from start to finish. The other two partners are getting the best PM :). Good luck and we hope to bump into you guys soon in Porto.
Thank you very much, Eric. I'm not sure if they value my time like that. I do though. ;-) Thanks for the message. Come to the meetup on the 28th (Jan) at the Grande Hotel do Porto from 5 PM. - Josh & Kalie
Here in Toronto, new Condo developers are listing the storage and the parking spots separately from the price of the units. For example, a parking spot might cost $30 thousand and storage $20 thousand separate from the cost of the unit. Often there are fewer parking and storage spaces to the number of units in the building; hence first buyers can opt out of buying parking and or storage spaces. When a unit with parking and or storage becomes a resale, the price of the parking and storage is factored into the posted sale price. Parking and or storage spaces then becomes a major selling feature for the resale market.
Art is one of the least reliable investments one can invest in and one even should think of it as an investment. Buy pieces that you like, that work well in your home, but don’t think you’re gonna make any money off of it. There’s a good chance you’ll lose money if you try to sell it.
Not statistically speaking if we're talking about fine art, Patrick. The results show its performance mind you we're not talking about art one picks up in Bermuda that a local has painted. - Josh
You're welcome. Thanks for watching. We're preparing a video to talk about the GV cancellation that's pending. We're hoping to have it ready by next weekend. - Josh
I like your Chanel. Not to rain on your parade, Portugal news is reporting a move to restrict foreigners from buying property. Not everywhere, but the name Ed Lisbon Porto area. Canada just passed a similar law
We got our house by putting in a full price offer...If you offer less than anyone can put in a higher offer and end up with the deal! A full price offer seals the deal and no one else can come in and cut you out! We could've offered less and I'm sure we wouldn't have our house!! Thankfully we got a good deal and totally worth full asking price!! Good luck
Hey Tamara, that's the issue for us. The full asking price is too high. We're not going to over pay just to get the property and beat others out. We know we must buy right. - Josh & Kalie
We did not buy high, but we acknowledge that we got in and lucky....My point was that unless you put in a full asking price offer you cannot secure the deal and at this time it's best to find something worth full asking price! Difficult, but not impossible!!!
No, not when you're buying location, prices may slow down, but don't expect a crash. It won't happen. It's just a game of keep looking, have as many contacts as possible and act fast ( lock it with a CPCV of 20%) if you find something within your price range.
You're welcome. No, I think that it just suggests like always that real estate is a numbers game. Don't get emotional. Make decisions based on numbers and good information and the investment will be solid. - Josh & Kalie
Andrew, what i would like to know is, how do Portuguese workers work; reliable, meet deadlines, etc... or is there the Spanish "manãna" attitude (it will be done in 9 months, but 2 years later it is still not finished). Thanks
Skip the waitlist and invest in blue-chip art for the very first time by signing up for Masterworks 🖼: masterworks.art/expatseverywhere
Hi i am lokking for a rental house in trofa,porto
Did you know any?
Please help me
Hey I appreciate you taking us on your journey of buying a building. I'm a real estate investor in the US as well and my brother and I have been looking for the exact same type of property in the Algarves. So I know exactly what you're going through trying to find a building that's good value that meets your specifications and then competing with other buyers because the same finite specifications you're looking for others are as well. Which was why I think your previous video about the Portuguese real estate market downplayed the very issue you brought up in this video. In general in Portugal as a whole there may be an abundance of properties compared to the number of buyers but the type of properties that you and me and many other buyers are seeking, especially in lisbon porto and the Algarve are few and far between. One of the key specifications that I wanted was a garage. I'm going to be traveling a lot from Portugal as my base and don't want to park my vehicle on the roadside for months at a time or pay for parking (parking is at a premium in the Algarve). Very few buildings have parking as well as being able to be renovated into a building with multiple units. My point is the housing stock is more limited than even I realized until I started to seriously search for what I wanted and it sounds like you're describing that as well. Wish you and Kalie well with the search.
Thanks for sharing your journey, Jason! Glad we're not alone. Stay in touch. We'll post updates here. - Josh & Kalie
The interest of strangers on buying houses on Portugal its leaving portugueses out of houses and that is sad. The foreign investers are buying and renting very expensive to us, poor portugueses. Some people say that its market but its a real unsensible and irresponsable investment
Impressive, Josh. Incredible work and research for an incredible project!
Thanks a ton, Amelie! We appreciate the support. - Josh & Kalie
Outstanding Video and Information!
Thank you! Glad you liked it! - Josh & Kalie
Lots of great information, Josh!
Glad you think so! Thanks for watching, Terri. - Josh & Kalie
Thanks for sharing this wonderful video n for sharing your experience with d project costs of renovations a property in Portugal. Your anticipations r meticulous.
D more u see d hidden costs, d more u can efficiently n effectively organize your project with lots of costs savings.
Thank for the encouragement, Yasin! - Josh & Kalie
@@ExpatsEverywhere Thanks u guys too. Really reminded me of what I've forgotten about project management. 😁
Great info Josh! Definitely a fun but complex project. Did you factor in your time? I’m curious to know how many hours you’ll end up investing from start to finish. The other two partners are getting the best PM :). Good luck and we hope to bump into you guys soon in Porto.
Thank you very much, Eric. I'm not sure if they value my time like that. I do though. ;-) Thanks for the message. Come to the meetup on the 28th (Jan) at the Grande Hotel do Porto from 5 PM. - Josh & Kalie
Here in Toronto, new Condo developers are listing the storage and the parking spots separately from the price of the units. For example, a parking spot might cost $30 thousand and storage $20 thousand separate from the cost of the unit.
Often there are fewer parking and storage spaces to the number of units in the building; hence first buyers can opt out of buying parking and or storage spaces.
When a unit with parking and or storage becomes a resale, the price of the parking and storage is factored into the posted sale price.
Parking and or storage spaces then becomes a major selling feature for the resale market.
We wish it was that straightforward here. Thanks for sharing! - Josh & Kalie
Another great instalment ... and I love the ExPats NEON !!!!
Thank you very much! We're glad you like the neon. - Josh & Kalie
Art is one of the least reliable investments one can invest in and one even should think of it as an investment. Buy pieces that you like, that work well in your home, but don’t think you’re gonna make any money off of it. There’s a good chance you’ll lose money if you try to sell it.
Not statistically speaking if we're talking about fine art, Patrick. The results show its performance mind you we're not talking about art one picks up in Bermuda that a local has painted. - Josh
Great topic! Thank you for sharing
💚❤️
Thanks for watching! We're glad that you liked the topic! - Josh & Kalie
thanks Josh for another video, Lets see if the Golden Visa program cancellation will have any real effects on Property prices.
You're welcome. Thanks for watching. We're preparing a video to talk about the GV cancellation that's pending. We're hoping to have it ready by next weekend. - Josh
Regarding valuation of spaces, appraisers in the US have calculations for all that
I like your Chanel. Not to rain on your parade, Portugal news is reporting a move to restrict foreigners from buying property. Not everywhere, but the name Ed Lisbon Porto area. Canada just passed a similar law
We got our house by putting in a full price offer...If you offer less than anyone can put in a higher offer and end up with the deal! A full price offer seals the deal and no one else can come in and cut you out! We could've offered less and I'm sure we wouldn't have our house!! Thankfully we got a good deal and totally worth full asking price!! Good luck
Hey Tamara, that's the issue for us. The full asking price is too high. We're not going to over pay just to get the property and beat others out. We know we must buy right. - Josh & Kalie
We did not buy high, but we acknowledge that we got in and lucky....My point was that unless you put in a full asking price offer you cannot secure the deal and at this time it's best to find something worth full asking price! Difficult, but not impossible!!!
Just wait couple of months, RE markets are cooling down
We hope to see some more offerings and more reasonable prices. - Josh & Kalie
it may take a year or two....buy low and sell high...
No, not when you're buying location, prices may slow down, but don't expect a crash. It won't happen. It's just a game of keep looking, have as many contacts as possible and act fast ( lock it with a CPCV of 20%) if you find something within your price range.
Thanks!
Thank you!! - Josh & Kalie
Thanks.. doesn't your earlier excellent "93%" video suggest holding off?
You're welcome. No, I think that it just suggests like always that real estate is a numbers game. Don't get emotional. Make decisions based on numbers and good information and the investment will be solid. - Josh & Kalie
WHAT ! what are you renovating a fricking 20 bed mansion ??? renovation will cost around 100k for a full refurb
Andrew, what i would like to know is, how do Portuguese workers work; reliable, meet deadlines, etc... or is there the Spanish "manãna" attitude (it will be done in 9 months, but 2 years later it is still not finished). Thanks
HAHA looks like no one want to answer this one, because they all know the truth.
Hello! My family and I recently moved to Porto and would love to connect! Can we treat you guys to dinner?
Hey, Aaron. That sounds great. Also, are you able to come to the open meetup on Jan 28th from 5 pm at Grande Hotel do Porto. - Josh & Kalie
Contact Info for Nuno, please..Thanks Josh and Kalie. JP
Email me, I'll put you in touch with his company. (contact@expatseverywhere.com) - Josh & Kalie
@@ExpatsEverywhere Done. Thank you.