Advice on investing in property

Hi everybody and happy new year. I would like to ask you fellow members about what I should do.

I have 500,000€ in a bank account, which I aim to invest in property and quit my job forever. I live in Greece. Now, the two options I have are a) buy property, renovate it and sell it or b) buy property, split it into many small apartment studios and turn them into Airbnb.

Simple rent isn’t gonna cut it. I live in a very big city and rents run 10€ per square meter. Airbnb’s in the area I plan to buy run 50€/day with expectancy of fully booked year-round, as hotels and other Airbnb’s charge a lot more. Buying property runs at 2-3 thousand € per square meter for a new one. Fillets though, meaning good location but not renovated, can go 1-1.5 thousands per sqm. My aim is to get 2 apartments of 150sqm each, split them into 5 small studios with kitchen, double bed, bathroom, WiFi and a couch with tv. So ten in total. And each “building” will have a small separate room accessible for all, for laundry and dry washer. Each one – in theory – would yield 50/day, 500€/day total, 15,000€/month, minus 15% for tax, plus whatever expenses for maintenance, bills etc etc. is this smart to do?

Buying a house to renovate and sell seems a waste to me. I don’t have my own construction company or a crew to renovate. It would run me expensive and selling isn’t exactly “fast”.

I’m not interested in crypto and other type of investments. Just saying, strictly property.

What should I do and is this even doable? Because I hear it is a b** to actually split a big apartment to many small ones as far as toilets and such go, pipes etc.

submitted by /u/IntelligentDrink4520
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Hi everybody and happy new year. I would like to ask you fellow members about what I should do. I have 500,000€ in a bank account, which I aim to invest in property and quit my job forever. I live in Greece. Now, the two options I have are a) buy property, renovate it and sell it or b) buy property, split it into many small apartment studios and turn them into Airbnb. Simple rent isn’t gonna cut it. I live in a very big city and rents run 10€ per square meter. Airbnb’s in the area I plan to buy run 50€/day with expectancy of fully booked year-round, as hotels and other Airbnb’s charge a lot more. Buying property runs at 2-3 thousand € per square meter for a new one. Fillets though, meaning good location but not renovated, can go 1-1.5 thousands per sqm. My aim is to get 2 apartments of 150sqm each, split them into 5 small studios with kitchen, double bed, bathroom, WiFi and a couch with tv. So ten in total. And each “building” will have a small separate room accessible for all, for laundry and dry washer. Each one – in theory – would yield 50/day, 500€/day total, 15,000€/month, minus 15% for tax, plus whatever expenses for maintenance, bills etc etc. is this smart to do? Buying a house to renovate and sell seems a waste to me. I don’t have my own construction company or a crew to renovate. It would run me expensive and selling isn’t exactly “fast”. I’m not interested in crypto and other type of investments. Just saying, strictly property. What should I do and is this even doable? Because I hear it is a b** to actually split a big apartment to many small ones as far as toilets and such go, pipes etc. submitted by /u/IntelligentDrink4520 [link] [comments]

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