WARNING - LISBON REAL ESTATE TO AVOID BUYING (We Refuse to Invest in Portugal Real Estate Like This)

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Күн бұрын

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@OurRichJourney 5 ай бұрын

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@neilvaughan6675 5 ай бұрын

Great tips. I personally like the far end of Cascais next to Praia do Guincho, away from the hustle and bustle of everything. Monte Estoril is also a nice location

@OurRichJourney 5 ай бұрын

Yes! Outside of Lisbon near the beaches is great, too!

@keilabeyer2711 5 ай бұрын

As always, great information, very well communicated. When we moved into our rental apartment in Lagos we noticed two buildings under construction right behind ours. According to the realtor, the heavy duty construction was over and we stupidly believed her. Almost two years later, it is still under construction.

@VanessaLopes-m8w 3 ай бұрын

I'm so sorry to hear this! I'm a real estate specialist in Lagos and I also saw an apartment near a new construction by the marina and made sure my clients knew there would be noise. They still decided to take it due to lack of inventory as you may know. However, I couldn't stand receiving negative feedback from clients if I wasn't honest. Hope you find a new home elsewhere if you had to.

@EdgarVerona 5 ай бұрын

I have run into similar issues in Washington State. There is no legal requirement for inspection of "common areas" which includes things like the outer walls. Hidden damage that can cost millions of dollars to fix is just left undiscovered to fester for decades until someone finally discovers it. It feels like buying a condo is like playing roulette with a situation like that.

@actionvj 5 ай бұрын

Great information. A lot of it applies to renting in Lisbon too. Good stuff to keep in mind. Thank you. 👍🏾

@OurRichJourney 5 ай бұрын

Glad you liked it! Thank you! And - definitely agree: much applies to renting, too!!!

@danilotorres4673 5 ай бұрын

Wise words! I liked your advice so much, I gave you a thumbs up on my phone and then iPad! 😊😅

@sarahthompson5066 5 ай бұрын

Sounds impossible to find an apartment! Good luck with the hunt-not interested but thanks for the tips. Great observations!

@TiagoRamosVideos 5 ай бұрын

Very interesting video 👌 thanks 🙏

@StephenPortugal 5 ай бұрын

Great info. How does one know how many ALs are in a high-rise building?

@eurekamedical9986 5 ай бұрын

I'm glad that you found out this shady things yourself...

@JakeRichardsong 5 ай бұрын

My building in the US is like one of your structures to avoid. It was not well maintained.

@DivineMeTime 5 ай бұрын

So helpful...even here in France.

@Ahmad_intel 4 ай бұрын

Logic statement well done well said ..

@maninnono 13 күн бұрын

Bro you really teatch me thank you

@cherylhills3227 5 ай бұрын

Avoid investing in Lisbon real estate without thoroughly researching the neighborhood's crime rates and safety measures.

@MM-dv9hp 5 ай бұрын

Amon, this is all around d great advice no matter if you live in Portugal or USA. You and Christina recently moved back to the city - how do you know what to buy. Please talk about the HOA minutes. It never occurred to me that I could have access to that kind of information. Thanks again! Your family story is inspiring.

@nadineblinn4109 5 ай бұрын

Yes! We bought an apartment in Taiwan a few years ago and we found much of the same things to be true there. I feel like this is pertinent info for many places outside the US. Walk ups, buildings in bad disrepair, empty high rises.

@pauladosch7062 5 ай бұрын

I have always disliked multi-family and avoid them for investment or living. I would only ever buy a house.

@veganfamilyadventures 5 ай бұрын

that's extremely hard to do in Lisbon. There are only a couple of neighborhoods with some single-family homes, but 99% of Lisbon is apartments.

@Michaelthearcheangel 4 ай бұрын

Why??? I only buy multis

@MyStethoscopeTravels 5 ай бұрын

Great advice. What’s the best way for a prospective buyer to acquire the building’s HOA minutes?

@OurRichJourney 5 ай бұрын

Request it from the seller’s agent along with all the other condo documents! 😀

@PatrinaOzurumba 5 ай бұрын

@@OurRichJourney My husband and I just bought our vacation house, not an apartment, in Porto. We steered clear of apartments in part because of the HOA issue you flagged. At first, the HOA sounds attractive to American ears - $25, $50 monthly -- but when you ask about assessments, that's when you realize they have no reserve, no plan for maintenance, nothing. Another thing we came across in the buying process (as told to us by our agent and lawyer) is that most updates inside a building do not require a construction permit. This means that someone could potentially engage in a project that could harm your unit and the building itself. Weighing all things, we altered our entire buying criteria and only considered semi-detached or detached houses.

@echegaraysofia 5 ай бұрын

@@PatrinaOzurumba After watching this youtube, I'm starting to think that's the best way to go!

@carlosarturoarengasquinter7445 5 ай бұрын

It is strange that the LISBON authority grants a license to build a building of more than five floors without an elevator. CARLOS ARENGAS Barranquilla-Colombia

@nikolaigrut 5 ай бұрын

Yes, but I think we’re mostly talking about old buildings.

@incognitoptl9408 5 ай бұрын

It does not TODAY. Above three floors must have an elevator. But for buildings that are over 100 years and elevators did not exist back then, fitting an elevator is not mandatory (and a lot of times it would be impossible anyway). This is the same for parking spaces. Now it’s mandatory, 150 years ago when cars did not exist? Not so much…

@Fallgrrrl 5 ай бұрын

Awesome video! I am so traumatized from the living in the condo my wife owned years ago in NJ with transient folks who rented and owners who didn't care...I swore I would never buy a condo. Fast forward we own a beautiful historic home. However, I would love to buy outside the country...MX or Portugal. However, I dread the idea of condo fees, whether the building has a good reserve, HOA rules, new construction next to my building, dealing with neighbors who don't want to pay for necessary repairs or neighbors in a building period...worst of all a building where all the apartments are on Airbnb. Either we will rent overseas or buy a small standalone home over a condo.

@zeptepi36400BC 5 ай бұрын

Excellent information … Thank you

@DiegoCore 5 ай бұрын

I agree, I learned on the hard way , bought some apartments in city centre . But now after 6 years happy with the investment. But my new investments are exactly in the same reasons as you . Thanks

@richardbuki658 5 ай бұрын

Informative as always!😊 I was wondering how can you have your car parked when living in the center? I assume like in most European capitals the structure of these old cities are not car friendly...

@cann9155 5 ай бұрын

This is so good. I wondered about the building HOAs & thingz . Clearly, You've done your homework. Heard of revising HOA Financial statements yes but meeting minutes. THAT'S AWESOME. Now that's were you see the real issues.. Congrat! C🏆🏆🏆🏆Can't wait to hear about it. Hardhats were a clue...🤷‍♀

@lmpreston1 5 ай бұрын

After this, makes me think buying single family home and creating multiple units. I love your process of buying to sell real estate.

@lsglsg77 5 ай бұрын

Can you do a video on how to convince your spouse to cut the US umbilical cord and relocate to Lisbon? 🙏🏾 😂

@BoricuaEnLaLuna100 5 ай бұрын

I thought you were talking about... Miami!! (Same issues).

@srigouriv.murthy9340 5 ай бұрын

Wise words!

@dionneking8 5 ай бұрын

Thank you for this knowledge ❤

@OurRichJourney 5 ай бұрын

Thank you for watching Dionne!!!❤️

@FinancialAdvisoryUSA 5 ай бұрын

Do you see a benefit in living outside the city center? You could experience a better quality of housing as well as upgrade your lifestyle while avoiding many of the aforementioned pitfalls. My assumption is that you’re keeping a vehicle, which is another reason why not living near the city center would be both acceptable and beneficial.

@homyce 5 ай бұрын

I am renting in a newly built building in Porto and there are currently 7 apartments in the building, more than 10% of the total number of units, that are listed for sale!

@LauraKeyRealtyGoddess 5 ай бұрын

I am not surprised about the newer builds. New does not always mean better.

@feliciaflinders 5 ай бұрын

❤ great tips ❤

@laurar9748 5 ай бұрын

Great info. Thanks!! 🏙️

@henrik4438 3 ай бұрын

I would rent in Lisbon. Crazy price for purchase an apartment. Flipping is crazy also. Speculation in Lisbon is over the top 🙄 Remember to put an extra 10% on top of the price in fees. And probably another 10% making the place to your liking.

@reneelibby4885 5 ай бұрын

thank you for this valuable info!!!

@OurRichJourney 5 ай бұрын

Thank you so much Renee!!!

@BrianJenkins72 5 ай бұрын

Hello

@OurRichJourney 5 ай бұрын

Hi Brian! You’re a Sunday regular now!!!!❤️

@BrianJenkins72 5 ай бұрын

@OurRichJourney been for years just able to hop on when you post now...

@unbotheredchico 5 ай бұрын

Another insightful information

@OurRichJourney 5 ай бұрын

Glad you think so!😀

@danelledautrievesanford 5 ай бұрын

Hi there. Happy Sunday.

@OurRichJourney 5 ай бұрын

Hey Danelle!!!! Hope you’re having a great weekend!!!❤️❤️❤️

@echegaraysofia 5 ай бұрын

I'm more interested in Spain than Portugal, still I bet a lot of these issues are similar, especially the problems with shared carrying costs in old buildings. Nothing bureaucratic ever works *better* in Spain than in other countries....do you feel townhouses or other semi-detached houses are better?

@forestcreature88 5 ай бұрын

It sounds like I'm ready to send you my rental application and deposit!

@Nadeem.h 5 ай бұрын

Good one.

@vesnatopic5063 5 ай бұрын

Kindergardens too!! Try living in a building that has a kindergarden in it and you'll see how the hell looks like 😅

@rogeriahetrick2511 5 ай бұрын

Is it a good time to buy a property in Lisbon? I have read that the prices are ridiculously high and the cost of living have been increasing as well? Warm regards!

@hugoc2660 5 ай бұрын

I'll be moving to Portugal in July, would be great to get to know people looking into investments, real estate, expat community, etc. How to get in touch with you guys?

@aparrado 5 ай бұрын

Any thoughts on the rapidly developing political situation in Europe? The rise of the far right and the Chega in Portugal and Europe overall and its effects on immigration and investing overseas? I think in the past week also Barcelona announced it was banning airbnbs with other cities surely to follow. Is Europe no longer ex pat friendly?

@veneziablau 5 ай бұрын

Some of these HOA issues sound like what's happening in Miami right now

@OurRichJourney 5 ай бұрын

Exactly!!!

@j.d.5187 5 ай бұрын

@@OurRichJourney Hi i saaw your video called "Making $256,000 A Month in Passive Income" I was confussed. Was that monthly from all acounts or was that amount yeaarly?

@darylmiller8911 5 ай бұрын

My opinion only type of home to own is a single family home. Because the value is in the land not the building that in general depreciate. Plus, HOA scare me because you are at the mercy of the collective group. If i move to a big city i would rent a condo if i couldn't afford a single family home in a big city.

@veganfamilyadventures 5 ай бұрын

Most big cities don't have single-family homes. I would estimate that Lisbon real estate is 99% apartments. My favorite neighborhood in Lisbon, Arco do Cego, has row homes, but those homes cost $1-2 million.

@CoachJ-kt2kl 5 ай бұрын

Enjoy your entire journey in building generational wealth and investing.

@noreenn6976 5 ай бұрын

Buying an apartment isn't a thing in the USA. What's the difference between buying an apartment versus a condo in Lisbon?

@BobKnight-mm2ze 5 ай бұрын

This is going to sound strange, but these kinda sound similar to the China buildings and real estate issues. Minus AirBnb. An opinion of a guy watching videos, no first hand knowledge.