Interview with Mr. Adam Trávník about investment apartments and renting

Few days ago, I was doing interview with one of the owners who offer their flats on Flatio. Mr. Adam Trávník is the founder of company Friends Forever, which deals with private financial consultancy. Mr. Trávník is specialist in finances, which clearly illustrates the orientation of his own company and previous work experience. We talked about the topic of flats for investment and their experience with renting.

How long are you renting your flats?

In fact, I am renting only half a year. But one apartment where I grew up, is rented for two years. It is a long-term renting to my friend for no profit. So, it is half a year, I bought two apartments, and now I'm going to buy a third one.

Please, tell me more about your flats to rent (disposition or their location)?
I bought the first apartment in Vysočany (part of Prague). It's a studio apartment, 27 m2. Studios have usually constant value and it is very important for me. Additionally, it is ideal for renting, renovation or sale in the future. The studio was bought, then was reconstructed and rented in the week for long term. At that moment I also bought a second apartment that I offer on Flatio. It is a 2 bedroom apartment on the ground floor. I bought it for a very attractive price.

Your flats are primarily for investment. What is your opinion on buying the investment flats these days?

It depends on what do you want to buy. The apartments are for sale for extremely high prices now. You must have a luck, wait for the right moment and then be fast in the decision. Currently, housing prices grew mainly due to low interest rates of mortgages. In addition, it is not complicated to get mortage now. As I said, it depends on offer. But what I would recommend: "Don't be in a hurry!"

Do you expect some future improvement in this situation in Prague?

Yes, definitely. This period was strange. Almost everybody could get a mortgage. The situation is changing these days and that affects the price of some real estate. So prices may fall. I suppose this especially at block of flats. City apartments and studio apartments have their price usually stable.

You mentioned that you are going to buy another apartment. How does it look like? Where it is?

I will buy a third apartment in the center. I would like to rent it for short term on Airbnb. I don't have any experience with shorterm renting, so I am planning to give it to my friend who cares about more apartments.

Is it easy for you to manage your flat to rent on Flatio?

Flatio is very interesting for me, because it is not so demanding. So it's no problem hanging on to manage myself.

I meet some owners, who care a lot about their flat equipment and design. Some owners managed it by themselves and some hired architect for flat design. What did you choose? How much did it cost?

The studio is completely refurbished (painting, flooring, bathroom, kitchen). Overall, it costs around 100 000 CZK. The second apartment was too much colorfull, green and purple walls, so it was completely repainted. There are also s new floors and furniture. Floors I solved a lot. Originally I wanted to lino, which I liked very much. Renovation of the second apartment wasn't so expensive, most of the money was invested in furniture and equipment. In the third apartment, I plan to hire a designer. It is a small space, so I wanted to somehow cleverly resolved it.

What don't you like in the process of renting (tours, passing the keys, contract cleaning ...)?

I'm tired of administration, rewriting energy and services. I never had some problem with untidy apartment or something like this.

On the contrary, what do you appreciate?

I like all the process, because it was so fast in every case. I hope it will be ok in the future too.