The Real Estate Investment Method

Reviewed by Diario de un Inversor · UpdatedJune 13, 2026

Our review

Ignacio Castillo addresses in this 2022 book a gap that the English-language bibliography does not fill: a systematic, replicable method for finding, analyzing, and acquiring profitable properties specifically in the Spanish market. The differentiating point compared to other real estate investment books in Spanish is the procedural orientation — this is not about motivation or success stories but about a defined process for identifying local markets with rental demand, calculating returns adjusted to the real cost of acquisition (transfer tax, notary, registry, renovation), and structuring mortgage financing in Spain. The coverage of tax aspects — rental income taxation, applicable deductions, differences between autonomous communities — is one of the book's most practical elements. The most relevant limitation is the speed at which the Spanish tax framework and mortgage market change; some specific details may become outdated depending on when the book is read. As a methodological framework, however, the analysis process it proposes is robust and adaptable.

Key takeaways

• The real return on a property must be calculated on the total acquisition cost, not just the purchase price.
• Identifying local markets with high rental demand and low quality supply is more important than the purchase price.
• Rental taxation in Spain offers relevant deductions that improve net yield when managed correctly.
• Mortgage financing leverages the return on equity but increases risk when interest rates rise or vacancies extend.

Fact

Published in 2022, the book focuses on the Spanish market and covers the impact of the Housing Law and regional tax changes in force at the time of writing.