השירותים שלנו

A process that is focused on you 

We set a date when we would meet Dror for a property tour in Lisbon and we started looking for suitable properties for him according to the budget and the investment purpose.

We arranged meetings to visit the selected properties on the designated date.

In the process of searching for the right property, we scan all the real estate agencies websites and other channels for apartments and check our private channels where there are properties that are not even published yet on the market.

Because we are well acquainted with the local real estate market, we know If a property is actually a good opportunity, and when it's best to give up even when it seems tempting.

We then eliminate the less promising properties and create an amazing, targeted properties list for the investor.

Dror wanted to purchase a two-bedroom apartment in the city center, didn't want to deal with renovation but prefered a renovated and ready-to-rent apartment, so we searched according to these criteria and the defined budget.

The day of the properties tour arrived, we met Dror and accompanied him for two days to meetings at many properties.

Choosing from excellent options

In the end, after analyzing several options for him, the designated apartment was chosen.

The closing price was 210,000 euros for a two-bedroom apartment in downtown Lisbon. 

Even after the deal was closed, Dror was very hesitant and feared that the price of the apartment might be too high ... When the appraiser's assessment arrived, all concerns were gone ... The appraiser (on behalf of the bank, the apartment was purchased with a mortgage from a local bank) valued the apartment at 240,000 euros, which is 14% more than the purchase price. 

In conclusion: 

There is no doubt that the value of the property will continue to rise in the coming years, and that the return on it will be good, because how do you say? LOCATION, LOCATION, LOCATION!

Time is money 

When investing in a property purchase the intention is usually also getting a return on the investment through rent. 

When it comes to renting the apartment for short term (tourist accommodation market) it means provide guests staying on vacation with a good and pleasant experience, and thus good reviews will accrue and investors return will increase accordingly.

As part of the post-purchase services, Mojo offers its investors a package of apartment design and furniture, as was offered to Gidi, an investor who purchased an apartment designated to be rented for short term periods (tourist accommodation) in Lisbon.

However, Gidi, who is an experienced investor and already owns many properties in other countries, decided to design and furnish the apartment himself with the help of his wife, an interior designer. 

Professionalism, quality, and excellent local connections

After a month and a half, during which we were occasionally called to help and open the apartment for the various carriers of furniture and fittings, with the apartment decoration process not progressing due to lack of coordination and synchronization on items arrival and professionals scheduling, we took on the project...

Thanks to our good relations with all the suppliers and stores we were able to anticipate deliveries, combine the various professionals and finish the design of the apartment with a record speed in ten days.

In conclusion

There is no doubt that there is satisfaction in doing things alone ... but when it comes to an investment that should yield money - any delay in the process creates a loss of income (cost-benefit), a fact that should be taken into consideration when considering whether to use the services of a professional company or not.

Buying a property for renovation - is it possible to do remotely? 

Many investors dream of buying a property below market price and renovate it while saving costs and thus attain a higher profit on the investment.

This was what David looked for. With our assistance, he purchased an apartment that needed renovation for 141,000 euros.

He decided that he will look for contractors himself and come to Lisbon to meet with them and get the quotes for the renovation.

For two weeks, despite his efforts, none of the people who approached him (after receiving recommendations) found time to visit the property to give a concrete quote. 

Meanwhile we, as part of our sevices, took care of receiving a quote from the professional with whom we work that was given after making a visit to the property and included all the required parameters.

Renovate remotely with peace of mind 

Eventually, after three months in which the apartment stood empty with the investor unable to start the renovation process himself (a bit difficult when in another country and coming only once a month to take care of matters) the decision was made to let Mojo manage the renovation.

We received a good quote after a short negotiation procedure with the contractor, good prices were obtained without compromising on quality, and in the end money and time were saved.

We also supervised throughout the project, we visited the apartment, made sure the work was progressing as planned, made comments where there were problems, and of course made sure to keep the investor informed of progress.

In conclusion 

The project was completed while meeting budget and schedules.

Even a simple process can get tricky

We assisted in submitting the additional mortgage application at the bank, and after arranging all the required documents the bank approved the mortgage in the amount of 70% of the purchase value, subject to the appraiser’s assessment.

After about two weeks came the appraiser's assessment, that took us all by surprise - one of the apartments was estimated at a price of only 6,000 euros! (The purchase price was 115,000 euros).

Of course, this is a very problematic situation as it involves tens of thousands of euros that the buyer now has to pay from his own pocket for the purchase in addition to the amount he first planned to spend. 

The benefit of working with professionals 

Because our market and area experties, it was clear to us that the appraiser's assessment was wrong and unreasonable, so we advised Moshe to ask the seller for a time extension and make an appeal to the bank regarding the appraiser's assessment. 

We assisted in filing the appeal professionally and with all the relevant reasons.

In conclusion

Finally - it took a month but the bank accepted our position, the appraiser's assessment was corrected, and the transaction was completed to everyone's satisfaction.

We always emphasize to our clients that the processes with the banks in Portugal can be long, cumbersome, and exhausting, so it is always worthwhile, as in this case, to seek the help of a local professional who is familiar with the processes and knows the market, system, and influencers.

Of course, the decision is always the bank's, but it helps to have a professional in your corner.