Unveiling the Real Estate Opportunities Abroad with Alec Denney
Today, we are in an engaging conversation with Alec Denney. Denney is part of a vibrant team at Gateway Investors, a company focused on integrating international travel and real estate investments. Denney and his team are particularly savvy in the Iberian Peninsula and have conducted transactions in Portugal, Spain, Mexico, and Panama.
The Backstory
Denney and his partner Krista Fetke, upon experiencing international travel, established a deep desire not only to explore, but to build a sustainable lifestyle around this love for travel. The sustainable way ended up being in real estate investing. In the early stages, they were connected by Krista’s mother, Kathy Fetke, a globally recognized figure in real estate, to a partner in Dublin, Ireland. The initial venture was to build a team around Portugal’s golden visa program. However, after Portugal terminated the program, the team pivoted into residential real estate.
The Portuguese Real Estate and Golden Visa Program
Interestingly, Portugal’s termination of the Golden Visa program was eventually reverted and now has a higher investment requirement. It became an opportunity to invest in a Portuguese property of $500,000, which is held for five to six years with the prospect of gaining European Union (EU) citizenship upon divesting at this point. Note that this scheme represents, primarily, an opportunity to park money in the Portuguese economy for a stipulated period with benefits of citizenship in the EU, and not just Portugal, after meeting certain requirements. This creates a strategic gateway into the EU for many investors.
Real Estate Opportunities in Mexico and Panama
Denney’s portfolio stretches across the Atlantic to the sunny and tropical regions of Mexico and Panama. Tulum, in Mexico, has attracted considerable attention due to its growth and the completion of a new international airport. The local government has imposed orders restricting developers from building beyond two to four-story buildings, lending to an uncommercialized, eco-friendly environment that appeals to many investors. In Panama, a similar golden visa program exists, making the Central American country another attractive investment hub.
The Mexican Real Estate Acquisition Process
In Mexico, the acquisition process for foreigners within 31 miles of the beach involves owning the title of the property through a bank, despite having full rights and returns on the property. The phenomenon, known as fideicomiso, is a longstanding law with a created loophole to allow foreigners to own properties near the coast with the same rights as others.
Wrapping Up
The real estate world is vast, and so are the opportunities that come with it. Practitioners and investors like Denney have managed to delve deep into the unique sectors of global real estate, pulling resources and investment opportunities from corners of the world some may not have even considered.
If you want to learn more or connect with Alec, you can find him on their website www.gatewayinvestors.com or email him at Alec@gatewayinvestors.com.
Understanding the dynamics of international real estate and golden visa opportunities open up avenues for intriguing and lucrative investments. For those drawn to the charm of international living or seeking to explore novel markets, these insights serve as an invaluable resource.
