Forum Replies Created
Hi,
Bought a 2 room apartment in the very centre of
Moscow 9 months ago for 118K US spent about 25K on fees and repairs and now its worth nearly 200K US..
Rented out at $400 US a week.The process is a strange and complex system but my english speaking agent took care of everything.
Its still a very corrupt country but i think the western media exaggerates the situation here. Its ever so slowly improving.
Looking forward to buying another one, maybe the gains wont be there but the yield is, as there are countless westerners living here after good central apartments to rent.
DoncossackHi comrades,
Living in Moscow Russia where I own 1/2 an apartment and hopefully another 1/2 early next year once we see what the Russian banks thinks about how much they will lend.
Moscow real estate currently growing at 1% per week.
Also
1 IP Ballarat
1 IP TownsvilleTrying not to put all of my eggs in one basket!!!!
Cheers,
DoncossackHi,
Thanks everyone for their input and comments as its always good to discuss these issuses with people who deal in the industry.My poor friends feels that he has been done wrong by…
It should be a win win situation as he should be able to rent it a little bit cheaper and in return we dont have management fees to deal with and i have a long term reliable tennent.
From now on i will never mix business and friendship…
I think i’ll give him 3 options
1- He pays the rent i have asked for even though its still about $30 under the market rates and thats it.
2- He moves out
3- We go through an estate agent and he can pay the inflated rate…
I’ll have a vodka for you all!!![biggrin]
Signing out from mother Russia,
DoncossackHi,
No russia is out of the E.U and it will be a long long time before they will be a part of it. Too much corruption.Donhcossack
Hi,
I think i can borrow against it with russian banks but the interest rates here are a staggering %12 for a 5 to 10 year loan. Sussing out any other ways to get a loan here as i dont want to eat anymore into my australian equityThinking about buying another one as appartments are currently rising at about %25 a year and with a rent return of about 10-12 peercent for a appartment in the very centre of the city you get both capital gains and rent.
Our 1st appartment cost only 120k US for a 44 meter, 2 bedroom in the very heart of the city.Renovation will cost about 20k for a nice european reno.Don
Ps( how much currently in australia can i borrow on my equirty in OZ now for another OZ property)yeah they knew exactly what it was for..They havent got anything to do with it security wise. I guess they have all the security they need tied up in my other 2 properties in Oz.
Doncossack
