A tale of two properties

    Letting a property is a great way for holiday home owners to earn some income during the vacant months. But what if you want to live there all year round? That's not a problem for Denis Dragovic, whose home divides in two so he can rent it out but still stay put.

    "The home earns a decent income," he tells me. "I have been renting it out during the summer and this past year earned $10,000."

    There is a steady flow of guests, he says. Located in Šibenik, the 18 th Century property is right by the coast, just at the point where the Krka River joins the Adriatic Sea, making it a popular spot for tourists visiting Croatia.

    "What brought me to Sibenik is its location," Denis admits. "It's less than an hour to the two international airports [Split and Zadar, both serviced by budget airlines from London] and less than a two minute walk to the ferry terminal, which takes you to the beautiful Sibenik islands."

    "I bought the property in 2004," he explains, "then redeveloped it over four years."

    The time spent shows. The upper three floors of the house form a beautifully finished apartment, with impressive views from the master bedroom on top. Denis takes me down a wooden staircase to the spacious lounge and bathroom, before showing me the balconies either side. One looks out onto green hills and an old church; the other, the ocean.

    "These islands are my favourite," he says, looking out at the sea. "They're a great place to sail. There are two marinas close by, within walking distance, in fact."

    He leads me down another floor to the open plan kitchen and dining room, complete with a well-polished teak dining table and comfy-looking sofa bed.

    "It unfolds into a double bed," he informs me. You can easily imagine a whole family renting out the place.

    I ask what's below this floor. He smiles and through a separate entrance takes me into a very different property. There are exposed ceilings showing the same impressive oak, like the rest of the house, but this is Denis' own house – a sort of servants' quarters for a live-in landlord.

    But servants would dream of quarters like this. The studio apartment on the first floor boasts views of the sea, along with its own kitchenette and bathroom.

    That still leaves one floor we haven't explored, I point out.

    "The ground floor is yet to be developed," he replies.

    So it's like a basement? "Oh, you could use it for anything," he explains. "Another small apartment, a workshop. The walkway that goes by is pretty busy. You could even turn it into a coffee shop or wine bar."

    A coffee shop that can be rented out as a holiday home while you still live there?

    "Yes," he grins. "It's actually three investments in one."

    I nod, then think back to the master bedroom on the top floor. And if I want to keep it all to myself? What then?

    Denis laughs. "The title is separate from the main property – you could sell off everything apart from the main apartment and still make a tidy profit!"

    I laugh as well. Then start checking my pockets for spare cash.

    Get three investments in one for just £227,948.

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