grahamc Posted November 2, 2008 Share Posted November 2, 2008 Well its about time I started to take my finances a little more seriously (well after I buy my track car but thats another discussion!!). Both the missus and I have good/well paying jobs. Very little debt, except the mortgage. We currently have the house here, 1 house in South Africa - rented out and 1 apartment in South Africa - rented out. We want to start looking at some investment property in UK, Europe, USA, Canada, Dubai, etc. Anyone done this, have property overseas, etc? Trying to find some reputable places to deal with. Went and had a look at a Bulgarian apartment "open day"... What a scam... from £40K... 1 apartment at £40K (sold ages ago), everything else was £79K - £260K. I jus HATED the way they try to "suck" you in! Doing a bit of searching on the net, keeps bringing up these places that you have to register with, like Fast Track, etc. Quote Link to comment Share on other sites More sharing options...
erol_h Posted November 2, 2008 Share Posted November 2, 2008 im in the same boat as you i want to invest preferably in this country just dont know when and where Quote Link to comment Share on other sites More sharing options...
grahamc Posted November 2, 2008 Author Share Posted November 2, 2008 im in the same boat as you i want to invest preferably in this country just dont know when and where I dont mind, UK, Europe, where-ever...does not bother me, so long as its a good investment EDIT - maybe we should start a property syndicate, where we find the properties an offer them to the syndicate..... sounds simple Quote Link to comment Share on other sites More sharing options...
erol_h Posted November 2, 2008 Share Posted November 2, 2008 sounds simple but it bloody wount be, im thinking of looking around for cheap properties thanks to the drop in the market and haggling a deal. Going to try and look for properties that are not shifting and will accept a lower price Quote Link to comment Share on other sites More sharing options...
Luka-P Posted November 2, 2008 Share Posted November 2, 2008 I have two houses in Croatia. One is on the Island of Krk, it's a great part of the world, very beautiful and one of the more recent tourist hot-spots! Highly recommended! PM if you'd like a little more info. Quote Link to comment Share on other sites More sharing options...
JamieP Posted November 2, 2008 Share Posted November 2, 2008 im in the same boat as you i want to invest preferably in this country just dont know when and where UK housing market is risky buisness at the min, we could be at an all time low and this could be a great time to buy another house, or things could take an even bigger turn for the worse. Quote Link to comment Share on other sites More sharing options...
erol_h Posted November 2, 2008 Share Posted November 2, 2008 UK housing market is risky buisness at the min, we could be at an all time low and this could be a great time to buy another house, or things could take an even bigger turn for the worse. thats why im waiting at the moment and seeing how things go ive been offerd and a chance to invest in a chain of restuarants in the city but not sure of that either bloody confused. Quote Link to comment Share on other sites More sharing options...
Havard Posted November 2, 2008 Share Posted November 2, 2008 Egypt...... My dad has been looking at apartments out there from about £14K ish!! I don't have any other details but the time to buy in Bulgaria, Turkey etc has probably passed now. Time to look a bit further a field..... H. Quote Link to comment Share on other sites More sharing options...
JamieP Posted November 2, 2008 Share Posted November 2, 2008 thats why im waiting at the moment and seeing how things go ive been offerd and a chance to invest in a chain of restuarants in the city but not sure of that either bloody confused. Trouble is soon as things start going up you will have missed your chance, i remember my dad telling me when the market was strong years back he was selling a few houses, once he had excepted an offer and they was ready to sign a couple of months later the housing market was going up so fast that the house was worth 20k more so he would just pull out of the deal and put it back on the market, at the time he said a lot of people was doing the same. Quote Link to comment Share on other sites More sharing options...
erol_h Posted November 2, 2008 Share Posted November 2, 2008 Trouble is soon as things start going up you will have missed your chance, i remember my dad telling me when the market was strong years back he was selling a few houses, once he had excepted an offer and they was ready to sign a couple of months later the housing market was going up so fast that the house was worth 20k more so he would just pull out of the deal and put it back on the market, at the time he said a lot of people was doing the same. Decisions decisions i really dont know which way to turn i save long and hard now im sure what to do hmmm. Quote Link to comment Share on other sites More sharing options...
Terminator Posted November 3, 2008 Share Posted November 3, 2008 Most of the UK market is slumping, but not all areas. A relative just got gazumped(sp) on a investment property. I had a sale of one development property just before the UK market got jittery. I keep checking the price of houses in the same area as the one I sold in, those coming to the market are starting out at £30K less than the price I archived. I would expect them not to sell unless they drop another £20K. So I consider my self very lucky. I think there is still a way to go before markets bottom out. Quote Link to comment Share on other sites More sharing options...
marbleapple Posted November 3, 2008 Share Posted November 3, 2008 I have looked into buying the house next door to mine as an investment property this last week. The problem I found was obtaining a mortgage. The banks have decreased theoprions and now want a big deposit. No more 100% buy to let's Quote Link to comment Share on other sites More sharing options...
SupraAyf Posted November 3, 2008 Share Posted November 3, 2008 The Global housing investment arena has more affiliated risk than stock & shares at the moment. Eastern Europe now has a collapsed marked due to poor country infrastructure and GDP. Cyprus, Spain, Portugal etc have all over-developed their housing plan and the houses in those areas are not selling for love nor money. America has a totally collapsed housing market with very little hope of a moderate recovery in the next couple of years. Croatia and the Balkans have land-right issues; especially Croatia. That said, the likes of Serbia and Macedonia are well placed for future development if their country infrastructures do not fracture due to current political instability. India and South Africa seem OK locations but RSA is certainly experiencing a price hike on the coastal locations. The Far East seems a good deal if you want cheap accommodation but speaking to my pals who have bought there, you shouldn't expect much (if any) of a return as houses are typically very cheap. Middle East seems a good deal but you have to be selective as Dubai, UAE and Kuwait are experiencing vast building investment contracts in an attempt to expand their business plan beyond their current 'oil revenue only' structure. I would say it's a dodgy time to buy for investment terms as the risk is just so critical at the moment. Quote Link to comment Share on other sites More sharing options...
Hobgoblin Posted November 3, 2008 Share Posted November 3, 2008 While we are talking of houses, it would be a shame not to give mine a punt! http://www.rightmove.co.uk/viewdetails-22874693.rsp?pa_n=3&tr_t=buy&mam_disp=true Quote Link to comment Share on other sites More sharing options...
colsoop Posted November 3, 2008 Share Posted November 3, 2008 Interesting thread. Have you looked at the possibility of buying hotel rooms ? Some hotels offer them with a guaranteed fill rate on the room + free stays. I haven't looked in detail at the returns but in the current housing minefield it could be an option. i am in a bit of a dilema in this area myself, i need to get on the housing market but waiting for the right time is a tough call. Quote Link to comment Share on other sites More sharing options...
grahamc Posted November 3, 2008 Author Share Posted November 3, 2008 Trouble is soon as things start going up you will have missed your chance, i remember my dad telling me when the market was strong years back he was selling a few houses, once he had excepted an offer and they was ready to sign a couple of months later the housing market was going up so fast that the house was worth 20k more so he would just pull out of the deal and put it back on the market, at the time he said a lot of people was doing the same. Thats one hell of a time to be selling property, but he had to buy them at some point I have looked into buying the house next door to mine as an investment property this last week. The problem I found was obtaining a mortgage. The banks have decreased theoprions and now want a big deposit. No more 100% buy to let's I must admit the deals that are being offered are not great or even good, especially considering the what the interest rate is. The Global housing investment arena has more affiliated risk than stock & shares at the moment. Eastern Europe now has a collapsed marked due to poor country infrastructure and GDP. Cyprus, Spain, Portugal etc have all over-developed their housing plan and the houses in those areas are not selling for love nor money. America has a totally collapsed housing market with very little hope of a moderate recovery in the next couple of years. Croatia and the Balkans have land-right issues; especially Croatia. That said, the likes of Serbia and Macedonia are well placed for future development if their country infrastructures do not fracture due to current political instability. India and South Africa seem OK locations but RSA is certainly experiencing a price hike on the coastal locations. The Far East seems a good deal if you want cheap accommodation but speaking to my pals who have bought there, you shouldn't expect much (if any) of a return as houses are typically very cheap. Middle East seems a good deal but you have to be selective as Dubai, UAE and Kuwait are experiencing vast building investment contracts in an attempt to expand their business plan beyond their current 'oil revenue only' structure. I would say it's a dodgy time to buy for investment terms as the risk is just so critical at the moment. Yes it is risky, however I see property as a long term investment, its basically going to be my "retirement policy". Somewhat disagree with South Africa... with the new president coming in (Zuma) things could potential get a lot worse over the next few years. Interesting thread. Have you looked at the possibility of buying hotel rooms ? Some hotels offer them with a guaranteed fill rate on the room + free stays. I haven't looked in detail at the returns but in the current housing minefield it could be an option. i am in a bit of a dilema in this area myself, i need to get on the housing market but waiting for the right time is a tough call. I have seen a couple that seem like good ideas... Seen some that guarantee 5% rental for 9 years... So seems good on the surface, but was hoping for some recommendations of places/people to deal with. Quote Link to comment Share on other sites More sharing options...
n boost Posted November 3, 2008 Share Posted November 3, 2008 I have seen a couple that seem like good ideas... Seen some that guarantee 5% rental for 9 years... So seems good on the surface, but was hoping for some recommendations of places/people to deal with. Any links to any info on these? Sounds interesting but will obviously need to do my homework first! Quote Link to comment Share on other sites More sharing options...
Charlotte Posted November 3, 2008 Share Posted November 3, 2008 UK housing market is risky buisness at the min, we could be at an all time low and this could be a great time to buy another house, or things could take an even bigger turn for the worse. It depends on if you're looking for an 'investment' or a quick buck. All the greedy people that played the market a few years back have suffered/are suffering, lots are ok as they were in it for the long haul. Quote Link to comment Share on other sites More sharing options...
grahamc Posted November 3, 2008 Author Share Posted November 3, 2008 I have seen a couple that seem like good ideas... Seen some that guarantee 5% rental for 9 years... So seems good on the surface, but was hoping for some recommendations of places/people to deal with. Any links to any info on these? Sounds interesting but will obviously need to do my homework first! http://www.axispropertyinvestment.com/pages.php think it was these guys... comments and thoughts are appreciated! It depends on if you're looking for an 'investment' or a quick buck. All the greedy people that played the market a few years back have suffered/are suffering, lots are ok as they were in it for the long haul. I see property as long term... The real benefit is once they are paid for and just making you some money! Quote Link to comment Share on other sites More sharing options...
Carl_S Posted November 3, 2008 Share Posted November 3, 2008 Its a good idea to buy now if you can afford it, i just am buying my first place soon to live in rather than to rent out. I also have a few thousand in commercial property, from which i receive a regular income. I'm a bit jealous that you have so much property, but I know that with property, especially residential tenants, there can more more worry and hassles. But at least you know where your money is invested in unlike most stocks and shares where they can be invested in bad things like porn, prostitution and drugs. Quote Link to comment Share on other sites More sharing options...
ellis Posted November 3, 2008 Share Posted November 3, 2008 We bought a place out in Cyprus last year (off-plan) for about £105K mainly to rent out but also as a possible investment/place to live in one day. Due to be completed in December and prices for the place are hovering around the £145K - £150K at the moment (without being completed). Still a strong market out there (for now!). Quote Link to comment Share on other sites More sharing options...
Terminator Posted November 3, 2008 Share Posted November 3, 2008 I see property as long term... The real benefit is once they are paid for and just making you some money! Exactly. Quote Link to comment Share on other sites More sharing options...
Sharpie Posted November 3, 2008 Share Posted November 3, 2008 There is a shortage of property in Oz so the rental market is a good place to be. Quote Link to comment Share on other sites More sharing options...
Conrad Posted November 3, 2008 Share Posted November 3, 2008 Personally I think right now is the perfect time to buy, so long as you're in a position to do so. Absolutely nothing is selling and I mean nothing. Me and my old man are builders and we currently have 3 properties that we can't sell so are letting out. We're also half way through building a small developement of 4 detatched bungalows. These are 3 bed bungalows with a garage which in that area are valued at around £165k. We've just sold one for £120k and we were lucky to get that! As for buying abroad there's some unreal bargains to be had in Florida. We paid $400k for a fully furnished 6 bed luxury villa with own pool in a gated community in 2004. We sold this a few months back for just $265k. A friend of mine also has a 4 bed villa on a huge complex with every facility imaginable. Golf course, pool, club house, sports bar, free shuttle to parks etc. His is up for sale at $130k - that's like £70k sterling!!! IMO if you have the means you should be taking advantage of the current housing market. As soon as it starts to pick back up everyone will panic buy and the prices will rocket again.... Quote Link to comment Share on other sites More sharing options...
Dnk Posted November 3, 2008 Share Posted November 3, 2008 http://www.totallyproperty.com lots of good info on there on a lot of differant places, i pulled out of buying 2 apartments in Egypt recently, too many dodgy dealers for my liking Quote Link to comment Share on other sites More sharing options...
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