Looking to buy a property along the Camino!...

[David Vieira]

For those walking the Camino, please lend a watchful eye!... My wife and I just arrived home from our first walk and we are looking for a property along the Camino de Santiago / Frances in Galicia between Sarria and Santiago de Compostela OR between Roncesvalles and Pamplona in the Pyrenees mountains. Our project requires that the property / building needs to be directly on the Camino. All sizes and conditions prices are OK. Plan is to create a Pelegrino / Agri-Tourism / Restaurant / Small Albergue. If you see anything interesting out there, Please let us know!...
Buen Camino!...
David Vieira
(phone number removed by mod) / David@redballs.com

 

[MeganG22]

And if you do find something, David, please let us know if you need an employee or two

No, really. Please do.

 

[David Vieira]

Will Do!...

 

[mspath]

David,

Check out the more recent posts in this Forum thread on buying property
along the camino. For further info August 22 Mundicamino reported a new real estate agency listing properties for sale along the camino. Whatever your choice good luck and remember caveat emptor !!

Margaret Meredith

 

[tyrrek]

Here's a project for you!
http://www.foremostpropertygroup.co.uk/property-for-sale.aspx?Action=1&propertyid=1572132

 

[supersullivan]

Seen a little after Arzua the last 2 years, possible they may have a listing of properties.

 

[Roger B]

For those walking the Camino, please lend a watchful eye!... My wife and I just arrived home from our first walk and we are looking for a property along the Camino de Santiago / Frances in Galicia between Sarria and Santiago de Compostella OR between Roncessvalles and Pamplona in the Pyranese mountains. Our project requires that the property / building needs to be directly on the Camino. All sizes and conditions prices are OK. Plan is to create a Pelegrino / Agri-Tourism / Restaurant / Small Albergue. If you see anything interesting out there, Please let us know!...
Buen Camino!...
David Vieira 818-431-0115 / David@redballs.com

For those walking the Camino, please lend a watchful eye!... My wife and I just arrived home from our first walk and we are looking for a property along the Camino de Santiago / Frances in Galicia between Sarria and Santiago de Compostella OR between Roncessvalles and Pamplona in the Pyranese mountains. Our project requires that the property / building needs to be directly on the Camino. All sizes and conditions prices are OK. Plan is to create a Pelegrino / Agri-Tourism / Restaurant / Small Albergue. If you see anything interesting out there, Please let us know!...
Buen Camino!...
David Vieira 818-431-0115 / David@redballs.com

Hi we live on the Camino in Brea, O Pino. We have a small Pension which we opened last June. We will keep an eye out and our ears open for any suitable buildings for your project.

 

[Deleted member 3000]

From a previous thread:

"Would you like to buy a nice albergue? CASA DE LA ABUELA IN LOS ARCOS, contacto@casadelaabuela.com"

This relatively new albergue is one of the most popular on the Camino in a location where nearly everyone stops. I do not know why it is for sale, but it has all the features needed for success (in my opinion and analysis, of course).

 

[peregrina2000]

For those walking the Camino, please lend a watchful eye!... My wife and I just arrived home from our first walk and we are looking for a property along the Camino de Santiago / Frances in Galicia between Sarria and Santiago de Compostella OR between Roncessvalles and Pamplona in the Pyranese mountains. Our project requires that the property / building needs to be directly on the Camino. All sizes and conditions prices are OK. Plan is to create a Pelegrino / Agri-Tourism / Restaurant / Small Albergue. If you see anything interesting out there, Please let us know!...
Buen Camino!...
David Vieira [number removed by Mod] / David@redballs.com

David, if you are going to make pizzas like the one in your avatar, you will surely get a lot of hungry pilgrims! I know this is a little off topic, but I think that an albergue that offered really good pizza as their nightly dinner would be a big hit. Sort of like how the Ferreira albergue on the Primitivo always offers paella, or how the little restaurant in Bercedo offers a fixed plato del dia, day in and day out, or how Bodenaya always offers lentils. Just have one thing on the menu and stick with it, the pilgrims are always different from one day to the next.

Anyway, as far as places for sale, the Pajar de Ages seems to be for sale, though it's not in the location you specify. A totally great albergue, though.

Though I haven't been there in a long time, I always thought that the stretch between Roncesvalles and Pamplona could use a few more options. I know a few places have opened recently, so I don't know if the market is saturated or not. Good luck with this, and know that there will be many of us watching wistfully and longingly from afar! Buen camino, Laurie

 

[Kanga]

You might want to start a conversation with @Rebekah Scott . I know it is not in the area you specified but the house next door to her is (was?) for sale and it is right on the Camino, in Moratinos. She also has hard won experience buying and renovating a property in Spain.

 

[naplesdon]

I agree with Kanga. Get in touch with other expats who has done this already, there are many. For example, Malvena from Tuscon just bought an albergue near Hospital de Orbigo this summer and she and her husband are moving there.
The immigration and tax issues are daunting and at time inexplicable.
As an expat living in France, I can tell you there are days you want to pull your hair out (and I'm bald) due to "administrative" issues and other stuff that is sooo counter intuitive to the way one gets through life in the US.

 

[Deleted member 3000]

If you do not make a turnkey acquisition, do not be surprised by the Spanish bureaucracy!!

 

[Nancy P.]

For those walking the Camino, please lend a watchful eye!... My wife and I just arrived home from our first walk and we are looking for a property along the Camino de Santiago / Frances in Galicia between Sarria and Santiago de Compostela OR between Roncesvalles and Pamplona in the Pyrenees mountains. Our project requires that the property / building needs to be directly on the Camino. All sizes and conditions prices are OK. Plan is to create a Pelegrino / Agri-Tourism / Restaurant / Small Albergue. If you see anything interesting out there, Please let us know!...
Buen Camino!...
David Vieira
(phone number removed by mod) / David@redballs.com

Although Casa Majica is not I the area you described (It is in Villatuerta before Estella) is for sakevand it is wonderful.

 

[jirit]

Buying property in Spain is simple.

Doing anything with it, that involves labour, as an expat, is a completely different story.

Not for the faint of heart

 

[JohnMcM]

And if you do find something, David, please let us know if you need an employee or two

No, really. Please do.

Get in the queue Megan
Kind regards from David Vieira's potential gardener, car valeter
, shoe cleaner, window washer, chauffeur, dog walker, pilgrim welcomer, bed maker, bottle washer, shopping getter and odd-job-man (person)

Buen Camino

 

[JohnMcM]

............. And pizza maker!

 

[fraluchi]

If after investing in an albergue on the Camino (or any other property for that matter) you expect to eventually come out of the deal with 1 million, you'll need to start off with 2 million. Nobody will show you their dirty wash. Reason why along the Camino(s) you'll have to be very critical and well-informed before you should even think of spending good money.

 

[MeganG22]

Get in the queue Megan
Kind regards from David Vieira's potential gardener, car valeter
, shoe cleaner, window washer, chauffeur, dog walker, pilgrim welcomer, bed maker, bottle washer, shopping getter and odd-job-man (person)

Buen Camino

Oh John, no need to battle it out- I think between our two resumès we will have David's place covered!
Buen Camino from David's human resources manager, front desk attendant, barista, food server, sitter (house/pet/kid) and activities director! ;p

 

[Roger B]

Buying property in Spain is simple.

Doing anything with it, that involves labour, as an expat, is a completely different story.

Not for the faint of heart

Totally agree in fact it can be a nightmare.

 

[Olivares]

The couple that owns "La Puerta del Perdon" hostal on Villafranca del Bierzo (on the Camino) were walking the Camino when they came across an old house for sale. They made a note of it, completed the Camino, and then walked back and sealed the deal! They remodeled the house and made it into a very welcoming hostal. He still walks the Camino every December! I stayed there last July and LOVED the place. Since he is an experienced pilgrim he offers valuable advice, tips, lodging style, menu; everything at this hostal is geared to pilgrims and cyclists. He would be a good person to consult. Lovely person to deal with. Buena Suerte!

 

[Saint Mike II]

Buying property in Spain is simple.

Doing anything with it, that involves labour, as an expat, is a completely different story.

Not for the faint of heart

No - you just need the man from Grand Designs (UK TV) he seems to be able to pick to eyes out of any project - what you SHOULD have done - not what you did do!!!

 

[Saint Mike II]

If after investing in an albergue on the Camino (or any other property for that matter) you expect to eventually come out of the deal with 1 million, you'll need to start off with 2 million.

Your advice reminds me of the man who made a small fortune running an airline - Yes he had a very large one when he started.\

But seriously my 10 Euro cents is - find an albergue that wants a paid volunteer, live in the small village, work with the people for 3 or 6 months and then really assess if this is the life you want. Living in a foreign country as a short term tourist is one thing - being there permanently, operating a business (often in competition with 3rd or 5th generation locals) is something else. Good luck!!

 

[david g]

Your advice reminds me of the man who made a small fortune running an airline - Yes he had a very large one when he started.\

But seriously my 10 Euro cents is - find an albergue that wants a paid volunteer, live in the small village, work with the people for 3 or 6 months and then really assess if this is the life you want. Living in a foreign country as a short term tourist is one thing - being there permanently, operating a business (often in competition with 3rd or 5th generation locals) is something else. Good luck!!

Very good point Mike. Let's face it, we tend to fall in love with places we visit, especially on vacations, especially the Camino, because they offer an escape from reality. There aren't worries about getting up for work or deadlines to meet or traffic on the commute. We idealize them. Giving yourself a set amount of time to really get to know a place, as it exists day to day, is really a good way to go. You find how things work, where things are and how adaptable you really can be. That being said, should there be any positions not covered by Megan or John, I'm your guy.

 

[Bajaracer]

Your advice reminds me of the man who made a small fortune running an airline - Yes he had a very large one when he started.\

But seriously my 10 Euro cents is - find an albergue that wants a paid volunteer, live in the small village, work with the people for 3 or 6 months and then really assess if this is the life you want. Living in a foreign country as a short term tourist is one thing - being there permanently, operating a business (often in competition with 3rd or 5th generation locals) is something else. Good luck!!

I agree, this would be a good way to see if this is for you without a significant investment of your hard earned cash.
They have the same saying in auto racing, "to make a small fortune in racing, start with a big one."

 

[jirit]

Spain is a "tax and business unfriendly" country to call home, either as an expat or permanent tax resident.

Unless your moving from even more unfriendly countries like France or Italy or some third world country where your life and/or health is at risk you really need to think twice.

For more information check out the various types of taxes one must consider (along with all the other costs and regulations of operating a business)

http://www.expat.hsbc.com/1/2/hsbc-expat/expat-experience/expat-finances/global-tax-navigator#!/ES

 

[Rebekah Scott]

send an email address and I will send you my work-in-progress Gut-Check Questionnaire for People Who Want to Open Their Own Albergue.

 

[Thornley]

Although Casa Majica is not I the area you described (It is in Villatuerta before Estella) is for sakevand it is wonderful.

I agree Nancy , what a beautiful albergue and also a beautiful couple.
Unfortunately they will loose money due to the Spanish bank changing their loan ratio and repayments.
Simone is an ex- pat but the hubby was born in the village and did most of the work himself.
Its a terrible story but should be told if there is any money to be borrowed.
We never walk past this albergue .

 

[Kanga]

For more information check out the various types of taxes one must consider (along with all the other costs and regulations of operating a business)

http://www.expat.hsbc.com/1/2/hsbc-expat/expat-experience/expat-finances/global-tax-navigator#!/ES

Very useful website. My dream goes out the window....

 

[Thornley]

Very useful website. My dream goes out the window....

Same as France Kanga,
Was going to buy a gite many years ago , glad we avoided same.
The Gov't has access to all property you own ..there and here....therefore if going ahead had to form a company in Morocco to keep assets here safe for kids.
Too hard mate
Viva the Revolution?lol

 

[Bajaracer]

Spain is a "tax and business unfriendly" country to call home, either as an expat or permanent tax resident.

Unless your moving from even more unfriendly countries like France or Italy or some third world country where your life and/or health is at risk you really need to think twice.

For more information check out the various types of taxes one must consider (along with all the other costs and regulations of operating a business)

http://www.expat.hsbc.com/1/2/hsbc-expat/expat-experience/expat-finances/global-tax-navigator#!/ES

Look at those tax rates!

Buying an albergue is like owning a boat, it's hole in the water you pour your money into, BOAT=Break out another thousand, the two best days of a boat owner, the day they buy it, and the day they sell it.
If you're not independently wealthy, not well versed in plumbing, carpentry, and electrical work, don't spend your life's savings on an albergue. Buying the albergue itself is the cheapest part of it, it's the day to day wear and tear and other expenses that will bleed you dry. Hopefully you can build up a "rainy day" fund to take care of emergencies as they arise, I honestly don't see that happening after paying utilities, taxes, etc. and if you're lucky, paying yourself.

 

[fraluchi]

I agree Nancy , what a beautiful albergue and also a beautiful couple.
Simone is an ex- pat but the hubby was born in the village and did most of the work himself.
Its a terrible story but should be told if there is any money to be borrowed .

[...]This beautiful property is a terrible financial risk: over-indebted and an incomplete business concern. The banks are having a problem in figuring out options, and in the mean time the supposed owners (who invested much energy, emotions and capital) are trying to keep their head above water and hope to possibly recuperate their investment. As an albergue it is a dead duck. Unfortunately.

 

[Thornley]

[...]This beautiful property is a terrible financial risk: over-indebted and an incomplete business concern. The banks are having a problem in figuring out options, and in the mean time the supposed owners (who invested much energy, emotions and capital) are trying to keep their head above water and hope to possibly recuperate their investment. As an albergue it is a dead duck. Unfortunately.

The banks changed the rules , they shortened the loan period therefore increasing the monthly payments.....to roughly double.
They have done the same everywhere in Spain.
If the banks are having problems with options with this property then bad luck .
Remember mate , the average guy in the street never caused the GFC , it was only the banks and their greed.

I have a few pubs in Australia and the best investments have the best tenants , who you "never ever" try to screw.
The more they make the better , rent is normally connected to turnover but never goes down.

I will say this now Fraluchi , if i had no grandkids [ and there are plenty ] then the current owners would not have a bank to worry about.
As long as i got a 6% return p/annum on what i gave and a bit "off" the principal is applicable .......no problems at all.

 

[Sue M]

Wonderful idea! Wish I could join in!

 

[fraluchi]

The banks changed the rules , they shortened the loan period therefore increasing the monthly payments.....to roughly double.[...] I will say this now Fraluchi , if i had no grandkids [ and there are plenty ] then the current owners would not have a bank to worry about.
As long as i got a 6% return p/annum on what i gave and a bit "off" the principal is applicable .......no problems at all.

You have two points there, but unfortunately the property we talk about is neither here nor there as a going concern. Admittedly, new building and operating regulations have put the cash flow into trouble.But even under similar loan conditions as before, there is such a large cash injection needed that there cannot be a business return or break-even. Ergo, this is an object for an "aficionado" or "not-for-profit institution" with a couple million Euros to spend. Not someone with a financial ROI purpose.

 

[Thornley]

You have two points there, but unfortunately the property we talk about is neither here nor there as a going concern. Admittedly, new building and operating regulations have put the cash flow into trouble.But even under similar loan conditions as before, there is such a large cash injection needed that there cannot be a business return or break-even. Ergo, this is an object for an "aficionado" or "not-for-profit institution" with a couple million Euros to spend. Not someone with a financial ROI purpose.

It was a purchase of love /passion and that was the original sin .
He came from the village unfortunately.
But still a wonderful place to stay.

 

[fraluchi]

It was a purchase of love /passion and that was the original sin .
But still a wonderful place to stay.

Yes, and those are factors which a buyer should have. Apart form the necessary cash to really complete the jewel.n

 

[RumAndChupacabras]

@tomoil