Real Estate In Italy Is An Investor's Dream: This California Resident Bought A 6-Bedroom House With 2 Kitchens For $62K

Lorrah Minton discovered a major real-estate opportunity in Italy, and now she can't get enough.

What To Know: According to a Business Insider report, Minton paid 57,000 euros ($62,200) last year for a house in Mussomeli, a town in Italy. After completely renovating the place, she has approximately 70,000 euros in it, but that's quite the bargain considering it's 3,000 square feet and has six bedrooms and two kitchens.

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. 

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. 

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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. 

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Photo: Udo from Pixabay.

This story is part of a new series of features on the subject of success, Benzinga Inspire.