Services

Investment

Most opportunities presented as “investment” are listings with a yield attached. I work the other direction — from your return criteria, risk profile and holding horizon back to the asset, and only then to the number.

Every asset is run on its own economics: ROI, IRR and, for development, full GDV modelling against your hurdle. The realistic case, not the broker's case — real rents, real void, real capex, real exit.

Bright living room in a prime Lisbon apartment

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Where urgency tends to enter, I bring method. Where instinct tends to govern, I bring the numbers.

HHORAS — Investment Advisory

How I Work

Underwriting, not estimating

Each asset modelled on its own economics, against your hurdle rate. For development land, full GDV and multi-year cash-flow phasing, with construction and acquisition costs built up line by line — a clear read on whether a deal sits below hurdle, on target, or beyond, before you commit a euro.

Structure & risk, found early

Legal, fiscal and financing structure checked before the offer, not after. Financing that won't clear an inheritance sale, licensing gaps, ownership that doesn't match the certidão — found while still solvable.

Value, quantified

The gap between what an asset is and what it could be, through refurbishment, repositioning or planning upside — measured against comparable evidence, not promised.

Exit, decided before entry

Resale, yield or hold, with the number that makes each one work written down at the start.

Method in Action

Reading what the market is actually telling you

A property can draw steady interest and still receive no offers. When that happens, the cause is rarely price or visibility — it is buyer-profile fit and transaction friction. On a recent Lisbon mandate, consistent feedback from qualified international buyers showed the obstacle was not the scope of works but the months of unavailability during them; ready-to-use alternatives existed at the same price. The recommendation was not to wait and hope — it was to reprice on evidence, deliberately, while it still read as strategy.

Adjusting on data today is control; adjusting under pressure in six months is the same decision, at a lower number.

That is the work: not waiting for the market, but reading it and acting before it acts on you.

Investment Opportunities