Spanish Solutions (Covid) news.

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Posted and filed under Bare Ownership, Brexit and Spain, Businesses in Spain, Newsletters.

Newsletter, The COVID Issue: 

What a time to be alive.

You haven’t heard enough about Coronavirus yet, so here we go.…Just a little more on what is “new” in Spain. Business people here and there are talking about the “new normal”. Bad news. There is no such thing. Nothing is normal about these times and what was “normal” only 4 weeks ago is far from it. Everything is new and those people, individuals, groups, businesses, communities and countries who think old thinking will get us through what is “new” are in trouble.

 

The numbers. 

Rather than plagiarising an article written by someone smarter than me, I’d rather direct you over to Fiona Govan in the Local for up to date information on the numbers here. 

https://www.thelocal.es/20200923/in-numbers-covid-19-deaths-cases-and-hospital-patients-in-spain

Another good source of real information is our own Brian Kiernan- You’ll find him on Facebook and Brian has a good sense of what is really happening on the ground in Spain. 

“Common-sense thinking beats Coronavirus”.

The problem with common sense is that it is not so common. 

 I heard the excellent Dr Luke O’ Neill @laoneill111  professor of biochemistry and immunology at Trinity, Dublin, echo a point I’ve made for many months now. Sure, the virus is changing, mutating and it’s an intelligent virus. Largely like us, humans, it is governed by science, however.

This science says that even if I have it and we are having a conversation without masks, from 2 m apart, I’m not passing the illness over to you. Simples.

Someone, only yesterday told me that just to be double-sure, she now stays 4m apart from her friends when talking to them. She was wearing TWO masks at the time. You are not doubly sure to not get the virus by this lack of logic, just as wearing your mask when driving alone in your car, in no way increases your chances of not getting Covid19. 

I am not a doctor, just repeating here what Luke O’ Neill says. Use common sense. 

I was at a meeting recently where the host, having sprayed my shoes and hands before the meeting, every 15 minutes, paused the chat so that she could go around to everyone individually to re-apply hand sanitizer. Where did she think that we had picked up the germs while sitting at the table? She also tested our temperature, which one of the participants objected to as it “infringed her on her data protection rights”. The world is going mad. 

Science; You are less likely to get the virus in Cabo Roig than in Dublin. The reason is because there are fewer people in Cabo Roig. There, and I’m not even a scientist. 

An integrated BS detector is a more valuable tool that double-strength hand sanitizer, right? 

Speeding things up. 

I feel the current situation is speeding up things that were going to happen anyway. We all knew the old business model adopted by town halls, courts and banks were one day going to change. Now, we can see the change coming, fast. 

We knew certain businesses were doomed because they had no cash and no clients, well there are “for sale” signs on the windows now. 

We knew remote work was a thing- instead of clients wanting to do it one day, they now need to get themselves out of London and onto a laptop in Spain. 

A fella said to me once, the average person overestimates what they can do in a year and underestimates what they can do in ten years. Now, I think it is all different- COVID plus Social media addiction is all contributing to a rapidly moving world.

Leads to perfectly into my next segment: 

Time is running out if you lost money in a Spanish property development that was never built. 

For many years now Pedro Molina, our barrister, and I have worked on No Win No Fee legal cases. People told us it was never going to work, as that is not how things are done in Spain but…. the concept in our eyes was easy. We took on cases for our clients who had lost deposits, stage payments; in some cases hundreds of thousands of euro due to the property they purchased in Spain never having been built.

10,000 foreigners, mostly Irish and British were affected. Only a fraction of them ever realised they had an option of getting the money back they had lost. The problem was the builders in so many cases were gone out of business or untouchable in other ways, so who could we claim against? We decided to go after the Spanish banks who failed to show a duty of care to their clients by transferring their customers’ money to insolvent builders.

Pedro was confident of success and we put our money where our mouths were. We took on (and still do) cases and offered our clients a risk-free option. If we lost, they paid NOTHING, if we won, we took a % of the profits. 18 months after we first announced the deal, we got as far as the Spanish high court and won!  

Change of law in Spain.

I’m not saying the Spanish government changed the law because of Spanish Solutions, (although they did). Around that time, 2015, they changed the Statute of Limitations in cases like the ones our clients were winning against the Spanish banks. Off the top of my head, previously clients had 15 years to claim but after October 2015, it became 5 years- which ends next week!

We don’t ask people to do our marketing for us but imagine you know someone who lost money in Spain in a development that was never finished. If they don’t see this message because they are waiting to see what happens to the other clients we have, or they are waiting until after the Coronavirus passes, or waiting until they can travel to Spain to talk to us, they will miss the boat. Time is almost up and this is the last week of opportunity all buyers of developments that were never finished have. 

If this helps to get the word out- here is an incentive. If you send this to a friend, family member or a client of yours, who signs up, we’ll cut you in our profit when we win in court. We won’t take one euro from your friend so don’t worry about that, we’ll suck up your fee and pay you with a smile! Win/Win. 

Time is almost up for Donations too.

 It’s all happening. Let’s say you own a property in Spain that you intend to leave to a loved one after your days. They will inherit the property, engage with a firm like ours and pay the relevant taxes. Right now however in the Valencia region (and maybe some other regions too), you can gift up to 100,000 euro tax-free. You can sign the property over to your heirs now, with minimal costs and live there forever yourself. We can help with it all but only up to the point the government changes the rules. Herein lies the problemo.  The government would have introduced the rule change by now, but an economic issue since Mid March has distracted them!! Once they get around to fixing the leak, the door will shut on this tax loophole. 

If you are doing a donation, do it in the next few weeks. 

Again, maybe you can do our marketing for us? If you pass this news to a relative, friend, client etc. we’ll be able to pay you from our fees. Again, everyone wins; We get a new happy client, the client gets the tax break, you get a little reward as a thank you! 

Business ideas, post-Covid in Spain. 

 

Five businesses that absolutely would work now in Spain.

You can earn serious cash by doing any of these activities. 

  • Proofreader/blogger/ebook writer. If I wasn’t doing what I’m doing…. I’d be earning money doing this. 
  • Lead generator. If you find the right niche, you can generate leads, therefore clients and profit for companies, who then have the time to concentrate on what they do best- serving clients. They will happily pay you for the leads, I know we do. 
  • Photographer. You can earn 100 euro per house, depending on the client and the property, if you just take photos. It should be simple, but for whatever reason, it is not. Chase Jarvis, the most highly paid photographer in the world has advice, seldom taken, for the amateur photographer hoping to make the breakthrough: “Just take more photos”. Photographers it appears, hate taking photographs. I am not making this up. 
  • Home office designer. For builders and developers struggling to get enough work as there are fewer refurbishment jobs, extensions and developments currently ongoing, why not specialise in home offices? People like me need a comfortable workspace, tidy cables, light, desks, speakers, microphone and camera for Zoom calls. Spanish solutions can work with you to get licences if needed, high-speed wifi and whatever the clients need. Specialise and you’ll get all these hundreds of home office extensions. 
  • Cloud kitchen. So many kitchens in the area will close and never open again courtesy of, you guessed it, COVID.  Home delivery is going to be bigger and bigger. You can rent one of these unprofitable kitchens for small money, and run an Italian, Mexican, Thai, Fish and Chips, Wings, Cheeseburger and Burrito joint, all under one roof. Clients don’t know or care that you are running all these businesses from the one place with one electricity bill, one monthly rent, one staff bill, one marketing budget etc. Brilliant. 

Pilar de la Horadada office.

Sticking with the idea that Corona Virus is speeding everything up, we have a decision to make a year before we thought we would. We took on an office in Pilar de La Horadada around a year ago. Not many people realised at that time it was a franchised office. Long story short, it never worked out, especially for us and we got stuck holding the keys to this place.  

If we were living in normal times, and we are not, I’d take a year to look at the office and see if we can make money there. I’m sure we can, (in normal times, etc etc) but what do I do now? Ideally, if we could find someone to co-rent it with us, we’d absolutely do that. We have licenses, wifi, and we could split the costs. Our builder refurbished the office to a good standard and it just feels like a pity to walk away. Let me know if you have a plan. 

Investing in Spain, post-COVID. 

I probably should have started with this. We’ve been presented with what we think is the biggest opportunity we’ve seen since setting up in Spain 20 years ago. Our property owners in Spain are struggling for cash and equity release is an impossibility through the high street banks. Right now, we are looking for investors who wish to get involved in Buy and Rent Out. Nobody in Spain is doing this, it is brand new and going to be huge. 

We’re offering fantastic deals to our investors and I’ll try to sum it up in a few short points. 

  • Buy a €1M portfolio of Spanish property today for €500K;
  • Buy a house advertised on Rightmove.com for 150,000 euro for 67,500 euro. 
  • Get full title ownership with a tenant who’ll pay you rent way above what you’d get in a bank for your money.
  • The IRRs & ROIs are sky-high even if property values stagnate. However, with a modest 1%, property value increase returns are double-digit!

We know of two types of buyer who will be attracted to this stunning deal.

Private:  a single property buyer who usually but not always hopes to move in someday to a property he buys with a 50% discount from today’s valuation. You might be hoping to retire to Spain one day- this is the way to do it while saving a chunk of money. While looking at returns, private buyers tend to focus on location, layout, size, style and finish. We can match your needs to the right property.

Investor: We also can accommodate large investors, those looking for a portfolio of properties. This buyer will have more a focus on returns, the desirability of location and layout from a demand perspective. 

Did we mention a 50% reduction on the house price? 

What is Buy & Rent Out?

The buyer can purchase a €500K home for as little as €225K + costs.  The buyer gets Full Legal Title immediately and a sitting tenant who’ll pay them 6-7 times what they’d get in interest in a savings account.  When the tenant passes away, even if that’s tomorrow,  the buyer takes full possession of the property: they can move in or immediately sell, whatever they wish.

With a younger seller/tenant you can buy more house for your money and get rent paid for longer. You have to wait longer for full possession but returns are the best.  

This investment works. I hope I explained it properly here if not, please let me know and I’ll send you the brochure. 

And to finish. 

We have so much more information we’d like to pass onto our clients, especially concerning the major investment vehicle we’re involved with, changes to the economy and more. 

In the next newsletter, I will talk about businesses that are doomed. Finished. We can pretend all we want that they might make a comeback, but they won’t. It is happening at 10x speed too! 

Maybe you are wondering why you received this newsletter? We value your privacy and we adhere strictly to the rules presented to us by Audidat.

Every now and then someone slips through the net. If you did receive this newsletter and you don’t want to keep up to date on what is happening in Spain, especially in these “new” times, just hit unsubscribe. We’ll miss you. 

If on the other hand, you have a question- please ask. We love to help. If you feel like sharing the information, please do so. If you would like to work with Spanish Solutions in helping more people get access to some of the top deals, advice and opportunities, then get in touch.

We can talk about our affiliate/collaboration plans. 

We have too much information to wait a full month, so we’ll speak to you again in two weeks. 

Speak then,

Ian 
“You can’t build a reputation on what you are goign to do” Henry Ford.

Finally, if you’d like to receive our periodic email newsletter, just reply here and we’ll sign you up. We will offer special deals, property news, tax changes etc.

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