Real net return
Effective net income once expenses, voids, repairs and taxes are deducted. The figure you should really be looking at.
Service
Your portfolio works. Now make it efficient
Once you already own properties, the problem is no longer finding one more; it becomes another one: knowing which of them really perform, which are costing you money without your noticing and what decision is right for each of them.
The starting point
The three problems I see most often
Almost every portfolio I analyse shows one of these three patterns, and none of them is spotted by looking at the purchase price.
Returns from memory
Hardly anyone properly deducts void periods between tenants, accumulated repairs, the comunidad de propietarios (owners' association), insurance or the cost of their own time. The result is figures that look better than they are.
Capital sitting idle
Properties that are already paid off or carry large unrealised gains but generate no income and have not been refinanced. That capital could be working elsewhere.
Decisions by inertia
Ownership, how the rental is structured, applicable deductions and how each property is declared: small adjustments that move a lot of money over the years.
If you had to sell your entire portfolio today and buy it again from scratch with the money it is worth now, would you buy exactly the same properties?
If the answer is no, there are decisions pending. That is exactly the work of this service.
What we analyse
Portfolio audit, asset by asset
The result is a document you can take decisions with, not a report of general opinions.
Financing structure
Rate, term, collateral and cost of money. We analyse whether refinancing releases capital and improves cash flow.
Tax and ownership
How each property is declared, which deductions apply and which questions to take to your tax adviser.
Technical condition and CAPEX
What investments your properties will need in the coming years and how much you should be setting aside for them.
Risk and concentration
How much your portfolio depends on a single tenant, a single area or a single type of demand.
Rotation plan
What to keep, what to refurbish and what to sell, with criteria and timeframes. Ordered decisions instead of reactions.
Methodology
How it unfolds
Gathering the data
You send me whatever you have: title deeds, tenancy agreements, mortgages, bills and expenses. I give you a simple template to organise it if you need one.
Individual analysis
Each property is studied separately, with its own figures and its own technical condition. No averages that hide the problem.
Conclusions session
We go through the analysis, resolve doubts and set priorities: which decision to take first, which can wait and which are better not taken.
Support during execution
If the plan includes refinancing, refurbishing or selling, I accompany you through the process with the same rigour as in a purchase.
Frequent questions
Common questions
How many properties do I need for this to make sense?
There is no strict minimum, but the service makes more sense from two or three assets onwards, or earlier if you are about to take an important buying or selling decision.
Does this include tax advice?
I am not a tax adviser, and the return is signed by a registered professional. I analyse the framework, identify points where you are probably leaving money on the table and prepare the exact questions for your adviser.
Are you going to tell me to sell my properties?
Only if the analysis justifies it, and never as a firm recommendation. My job is to give you the numbers and the criteria so that the decision is yours. It may perfectly well conclude that nothing needs to be touched.
Do you work with portfolios outside Spain?
I focus on properties in Spain, where I have direct experience and a network of contacts. If you hold assets in other countries, I can analyse how they fit into your overall strategy.
Keep exploring
Other ways of working together
It is not a price ladder: it is a question of where you stand. If you are unsure, write to me and I will tell you which one fits.
01
Your first investment in Spain, with the full process and clear numbers before you sign.
03
You already hold assets and want them to perform better. Audit and decision plan.
04
Knowing whether a refurbishment adds value or eats into the margin, before signing the purchase.
05
Month-by-month support to build a portfolio over the medium term without deciding on your own.
06
You only need to settle one specific question —an offer, a contract, a quote— and then carry on on your own.
Tell me about your case and I will tell you whether I can help
A 30-minute call, free and with no obligation. If your situation does not fit what I do, I will say so just as clearly and point you towards what does.