House buy in Arico el Nuevo Canary Islands

Investment opportunity available right now for a buyer looking for a medium-term investment with potential double-digit returns. Are you retiring in ten years? Do you want a piece of the appreciating property market in Tenerife? This is the deal for you. You can buy this property now, the owner will act as your bank, effectively financing 50% of the purchase. In ten years you can sell it to another investor if the deal has not matured by then. In ten years' time, (this sounds obvious) the owners will be ten years older, meaning it will be easy for you to turn the property into a large return. Currently, the value of the property is 320,000 Euro. Deal: We can offer the owners a one-off payment of 150.000 €. Too much down payment? We can discuss this. Next, they wish to receive the sum of 500 Euros paid per month for the next 10 years. Think of this like a mortgage repayment, without the high costs of dealing with a high street bank, property managers, or indeed an accountant. There is no income tax on "rental income" as you are not receiving any. This is a passive investment, without hassle. The new owner will guarantee and maintain the property in exchange for us granting them a usufruct. This is a legally binding agreement that they can live in the property, or rent it, free of charge, for the rest of their life or until they enter permanent health care. What about the property itself? The property is built of stone and has 2 Bedrooms. The main bedroom has an ensuite. There is also a guest bathroom with a wet room. Overlooking the vineyard and olive groves on the other side of the Barranco you'll get some great views. On the other aspect, the lounge and sitting room along with the main bedroom have a view of the sea and Gran Canaria. The kitchen/dining room is set for eight people and is fully equipped, including a large pantry. There is also a large workshop/store room. You'll find a courtyard outside of the kitchen which leads to a sunbathing area leading onto the BBQ area which then in turn leads to the summer house. The property is at the head of the historic village of Arico Nuevo a10 minute stroll to the Doctors/Health center, chemist, banks, supermarkets, petrol station etc. plus of course a selection of bars/cafes and restaurants. .