Lucca, Italy buying an AirBnB Turnkey Investment. Make Money in Short Term Rentals. Invest Smartly! 

Hey Gregory- I found that the price of buying a place was a high vs. what you could get in nightly rent in other towns for a building of the same price. That being said I love Lucca and some of the places I found there like Magellan's bar... What a neat place to pass a winter's evening in a leather couch drinking a Old Fashion! Thanks for watching and subscribing. I will be back in Lucca area for more videos soon! BRAD

Hi Andrew- Yes, I have a great agent in Montepulciano. If you want the info for her just write me at BradsWorld8@gmail.com. Happy to give you the contact if you are serious. Take care BRAD

Hi Anne! I do have them. I found that the ongoing property taxes are so cheap compared to USA. Since everything is based on the cadastral value (like appraised value) and not the actual sale price. For the three properties I have bought so far, the average spread between actual selling price or current value versus the Cadastral value has been about 1/6th of actual...! That means the property tax on the nice single apartment that was already renovated that I bought is only about $400 a year! In the US that would be about $5-10,000 a year. As anywhere, you are correct to find professional tax help to correctly structure the purchases and tax paying! Thanks for watching!! BRAD

They run like €200-300K now.

Agreed. You can never change anything on the outside of the apartment or home inside historical districts (and rightly so) so it is difficult to get around. On our largest apt that had lower light levels, we went with a much lighter paint color still keeping with the tradition of using Lime Wash. And we also changed the shade overs to a off white on all the wall sconces and put in LED bulbs that are 60W equivalent. That along with using a new hand chipped travertine floor instead of the 1980 replacement terra cotta made a HUGE difference without losing the feel of Tuscany.

Hey! I was in Montevideo about 20 years ago... neat place is right! I was so close to doing my personal investing in Lucca but opted for Montepulciano. I was just on the walls a couple of weeks ago in Lucca. I will have to try Leo's there. I always go to a great bar there called Magelleno's. Not sure on the exact spelling but it is so relaxed with leather sofas, and they are constantly making new menus and drink creations. The last menu looked like an Ikea catalog and they called the drinks like HavooÜblok... So funny. Pseudo-Swedish drink names. Thanks for watching and I will making a lot more videos around Lucca soon! BRAD

You can have an AirBnB type property. You would need to get an Italian SS number (called Codice Fiscale) and also a bank account. You would need to pay Italian income tax on the rental income, either 21% of the gross or up to 43% if you want to itemize deductions. Hope that is helpful! BRAD

Still getting the remodel done. It always takes twice as long as you think. We will be ready by next season which starts in early march somewhat and then full steam in April-November. It is still busy even this week from Fri-Sunday for Christmas market. It was busier this last Sunday then I see it on a weekend in August. Just PACKED with people. Now, the other question... We will be using AirBnB and also Booking.com which is much better because the fees are so low. I think AirBnB takes like 15% or something crazy... We will be using a local manager so hopefully passive! If we keep adding however we may be doing some stuff ourselves. Take care and thanks for watching! BRAD

Yeah I missed that. I do this on the fly, no script. I have made a few small mistakes like that. I also said "Ocean" one time when it was really a "Sea". Some guy called me out on that too... Even though I said "The Ligurian Sea" in text at the same time on the video as I said "Ocean". But I think most people got that I meant a really big body of water that is salty and deep. Most people are thinking about the bigger picture. As far as money, I'm not grubbing any... Nothing to sell, just like making the videos. Take care! BRAD

That’s real nice of you to say. So far so good. Hope more people join me here, it really is a special lifestyle.

I think the top apartment is because it is a single building with three units from ground to roof... Hope that is helpful! BRAD

Good catch... Didn't even realize I had said that. Region of Tuscany, Province of Lucca...

I don’t think there are restrictions that I know of unless they are city specific. The towns I am looking in like those mentioned in my videos keep most of their rentals booked from March to December.

@@BradsWorld Great thanks.

@@BradsWorld Have you ended up buying a property in Italy yet? Would you consider the market it similar to the States? For example, do people make offers below listing prices and so on?

@@freddiepasselli4777all real estate is local but I would say the market here is a little more depressed. I made both offers under asking. One was accepted and the other is still pending a response. It has three owners (siblings) and everyone has to agree on the price so it takes a while. For short term rentals I think you can get a better return on investment here. Just remember you have to pay taxes here too. But what you pay here is taken off your tax bill there in US. Not off income but off the actual tax you pay.

@@BradsWorld Thanks for the responses brad, I appreciate it. I was looking into this as well. Do you plan on getting a manager to manage the short term rentals (like help check in guests in BNB and other administrative things). I was reading online this may be necessary if you aren't always present in each town.