I have a business idea

I have a business idea

barrios-salamanca-arquitectura-edificiosThis week I had an interesting experience, the kind that makes you think, that makes you see reality from a different point of view and that opens up business opportunities.

It has not been in the Himalayas. The experience was closer and more familiar, something as common as renting a home. We had to rent a furnished apartment of 80 m2 with three bedrooms, two bathrooms, a living room lounge and a fully equipped kitchen in the Salamanca district of Madrid. The sooner we rented the better, but it was not urgent. The important thing was to make a good selection of tenants and defend the price.

Logically, the first step was to announce the building, describe well the features, take good photos and position the ad well in the Internet. The first surprise was receiving the first requests for information nearly immediately after placing the ad. In the first two days more than 150 persons contacted us, some directly by telephone and email and other through intermediaries.

We selected those that fit our profile and we organized visits. During the visits the house doesn’t suit the needs of some people, others have to think about it and others show immediate interest. We analyse the possibility of a long-term rental, the possible renters credit, lifestyle and the type of person they seem.

While we are showing the apartment we keep on receiving more calls and more requests for information and visits. In less than a week the house was rented.

So, how did it happen?

The apartment is in a “prime” area, the district of Salamanca, close to business schools and training centres. The neighbourhood has also become one of the most wished for by undergraduate and graduate students from the different districts of Madrid. This coupled with the beginning of the semester, the lack of available housing in the area and the apartment being very nicely kept and furnished made it a very short lasting offer.

The conclusion?

Buying apartments in the district of Salamanca that aren’t too large, that need to be renovated and therefore the price is not excessive, renovating them and adapting them for students, teachers or young executives transferred to Madrid is a very good business idea. We will be assured, without risks, higher returns than with any other investment available today.

And if you can’t manage the rentals? Your real estate personal shopper does it for you.

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