Why This Fund Ditched US Real Estate For 18% Appreciation In Portugal | Dan Daly E92
Dan Daly runs a fund that invests in boutique hotels across Europe, and on this episode he makes the case for why, in his view, Portugal beats the US on nearly every number that matters. According to Dan, property there has appreciated roughly 18% year over year versus 1.8% in the US, and a 30-year mortgage runs about 3.5% against 6.5-7% here. That gap, plus a much lower cost per square foot, is why his fund stopped looking at US deals altogether.
Instead of buying property, Global Investment Partnership invests in the operating companies that run boutique hotels in Portugal, hotels that are already refurbished, licensed, and cash-flowing but undermanaged. Dan walks through the specific leaks he looks for (unclaimed cleaning fees alone can run $25-35 a night per unit) and the five-year path the fund creates to permanent EU residency for investors and their families.
We also get into managing a portfolio spread across the US, Portugal, Madeira, and Andorra from a laptop in Los Angeles, and where Dan sees his exit.
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