Real Estate In Italy Is A Goldmine For Investors: California Resident Snags 6-Bedroom, 2-Kitchen Home For Just $62K

Lorrah Minton uncovered an incredible real estate opportunity in Italy, and now she’s fully embracing the experience.

What To Know: According to a Business Insider report, Minton purchased a home in Mussomeli, Italy, for just 57,000 euros ($62,200) last year. After a complete renovation, she's invested around 70,000 euros total—a remarkable deal for a 3,000-square-foot house with six bedrooms and two kitchens, proving that dreams of owning a beautiful home in Italy can be within reach.

Her primary residence is in California and the cost comparison is almost unbelievable. Her California home is valued at $504,000. It’s 1,500 square feet and has three bedrooms. That’s right — it cost over eight times more than the house in Italy and it’s half the size. 

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The real estate opportunity in Italy is so great that she decided to buy a second house with her brother for 31,000 euros, which she plans to rent out.

“Since I’ve been here … I’ve found that many people want to move here and get residency,” Minton said. 

She’s also looking to buy a third house in Italy with her sister and use it to generate additional income through short-term rentals. 

Minton loves traveling and she’s planning to start spending a majority of her time at her main residence in Italy. While she is gone, she intends to rent her home in California to add another income stream to the mix.

“I’ll rent out my house in California for the next 15 to 20 years. And when I want to come back, then I’ll still have my house there,” she said. 

Minton shouldn’t have a problem bringing in thousands of dollars a month renting her half-a-million-dollar house in California. Combined with her rental plans in Italy, she should be able to live comfortably off of rental income. She’s planning to retire in about two years. 

Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today. SmartAsset’s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

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