Jose Elias He is a multimillionaire businessman, president of Audax Renovables, of La Sirena, as well as a shareholder in other companies. Thanks to his businesses, the Badalona has managed to accumulate a large heritage which places him in the ranked number 79 on the Forbes list, with more than 600 million euros.
There are many people who try to follow in his footsteps, since They aspire to achieve the same success and gather a great fortune. It is for that reason that Elías has become a business coach, He participates in several television talk shows and publishes videos on his social networks.
The billionaire spoke about the dwellingand finding the right one is a more complex process than it seems due to the delicate situation of both the real estate market and the economy.
On Enric Ponce’s YouTube channel, the one from Badalona explained what is more profitable in Spain: buying or renting a home. According to him, in general terms, he believes that ““Buying is better for salaried people and renting is better for those who don’t have money problems.”
Although he emphasized that it depends on each person’s situation, he noted that “If you have a fixed salary and a limited budget, buying is the best option because, over time, you get rid of a fixed expense and guarantee stability in retirement”.
Furthermore, José Elías commented that it is more profitable to buy several small apartments and rent them: “A 200,000 euro apartment rented for 800 euros per month offers a profitability of 4.8%. On the other hand, a 500,000 euro apartment with a rent of 1,200 euros barely reaches 2.8%. (…) If you buy with a mortgage, the profitability is multiplied because you do not need 100% of the capital.”
The expert is clear that if you like an apartment for 800,000 euros, “instead of buying it, you would have to buy several small ones and rent them. With the income you will be able to pay your rent and you will have money left over.”
Although it will always depend on each person’s economy, the owner of ‘La Sirena’ offered some advice: “If you earn 2,000 euros a month, it is best to save and buy as soon as possible. If you have a more comfortable economy, renting may be a better option.