CONVERTING RIGHT HAND DRIVE CAR TO LEFT HAND DRIVE

We have bought a 2 bed/bath front line apartment on Corvera . We  were out last week viewing Roda to see  the quality of our sister resort (very nice). We were also very happy with the Corvera show flat.

As a 1 st time investor I am once again having a wobbly moment - the area was very quiet and there are LOTS and LOTS of golf courses emerging. The competition for rentals is concerning me -  What is the likelyhood of getting enough rentals to cover the costs?

I am not delluded to think that this will be possible from the start but getting worried that the impressive charts which MRI presented us with are no where near!

We will be needing about a £100,000 mortgage anybody any ideas of what interest only repayments are likely to be for this amount. Any tips on finding a good mortgage?

Secondly MRI placed community fees @ approx 800EURO that figure looking at Roda's fees looks way out.

Having a major panic and basically needing some advice on running costs, any novice phase 1 owners able to offer advice all welcome. Please PM me. Really really can't decide weather to 'flip' before completion as I am worried we may be seriously out of pocket per month if we keep it and that it may be difficult to sell later (I note there are LOTS resales at Roda).

On Corvera we are on Phase 2 which is being built @ same time as phase 1. I believe we have a good 'plot'  as it is an end apartment/frontline with 74m balcony which goes right around the flat from front to back and overlooking the water feature.  However the premium for this plot seemed high and it is difficult to work out a curent 'value' as online only the lowest most basic unit price is listed.

On Roda did the value of the properties on phase 1 and 2 rise as the sales hype suggested. i.e was there any value in signing up of plan so early and has anybody managed to 'flip' ?

Lot's of questions I know. In principle need to know about mortage/running costs versus flipping.

Thanks Carole

Re covering costs;

In the Rental section of this site there are Roda owners offering 2 bed, 2 bath apartments for 225 euros Low season to 450 euros High season???????????????

Hi Carole

Regarding rentals to cover your costs, you really have to work hard promoting your own rentals, create a website, business cards etc etc. Like you say a lot of properties available to rent , and more to come i would think with the number of developments still in construction. Plus the cost involved if you require a management company to market your property.

Regarding flipping at this moment in time i would say you need to be very careful, resales and the selling of your sales-purchase contract prior to completion is just not happening.  Well if it sounds too good to be true then it usually is as the saying goes.

Oh and take any figures quoted regarding price increases, rental figures etc with a pinch of salt.

Don`t rely on rentals to pay the mortgage, this may never happen whatever the sales agent say`s. 

Davey