Forum Replies Created
How does a deal like this work? Where you can buy a property without finance for a few thousand and then pay take over costs? I probably just missing something obvious but I really don’t get it at all? I’ve never heard of anything like this before. Has anyone else had any experience with this type of situation?
I too have been considering Crestmead as there is a lot of new building going on and it is very close to Logan Tafe, Logan Hospital and Girffith University, Logan campus. My biggest reservation is the distance from the city is a bit further than I’d like….
Bardon, with CF+ figures like this, and since you seem to have a bit of inside knowledge, are you investing in the States too? If so, can you give us some details.
Thanks for the comments. I agree that 17K is a lot of money and kiwiduvet, your figures demonstrating outlay / return put things in clearer perspective for me [hmmm]
I think this will be something for me later on down the track when I’m more experienced and have more dispensible cash.
Thanks Richard. I always respect your comments. It seems like a comprehensive, informative and practical tour. And a great opportunity to purchase properties…. If only I was a more organised and experienced in this IP business, I would go along. As it is I would feel way too much like an amateur [blush2]
Hello Adam
I work on a cruise ship which has afforded me the opportunity to see a lot of countries and like you, Turkey is one of my favourites for the same reason as you mentioned. I found the Turkish to be generally the most genuinely hospitable, open and welcoming people I’ve met anywhere! I also love the variety of the landscape within the country.
I’ve have sent messages to both Pelican and Skippygirl but haven’t received a reply as yet…. [glum]
Thanks again Adam and take care and be well.
Hi Quiggles
I’m new to PI and I’m considering Turkey mostly because I love the country and especially the people [fez][fez][fez]. Also my partner’s Turkish and I hope to spend a lot of time there. This email was a summary of my limited knowledge about my understanding of investing in Turkey and a request for information and advice to anyone experienced in the area. From my message I don’t understand why you would think I was spamming the site.. [eh] Anyway not to worry.
To respond to your reply. As far as I’ve been able to find out mortgages are not illegal, apparently in the past people were simply unwilling to trust in the banks due to the instability of the economic climate etc. Things are changing. I know of at least one member of this site – Schwalel – who seems to have had some success in investment in Turkey. Shwalel, if you’re out there, please give us some advice. Also Skippygirl and Pelican mentioned on this forum that they were going to check out Turkey for investment opportunites in 2004-2005. I wonder what they came up with……
Negotiations in regard to Turkey joining the EU are going on right now with what I belive to be a good chance of Turkey joining (not that I know much at all….). History shows that along with everything else, property values will most likely rise once this happens. Do you agree? For this reason it may be a good time to invest in Turkey.
Hi Bardon
Thanks for your input. This is a much more negative opinion of the market than I’ve heard so far. A devil’s advocate is also welcome.
If anyone else is of the same opinion, please let me know. And alternatively if there is anyone who views the Miami situation more favourably, I would appreciate your comments too.
I’m eager to invest now, but I obviously I have a lot more research to do…..[worried]
Colette
Thank you, both of you for your information and contacts [exhappy]. I will definately get in touch with the people you recommend. This area “feels” good to me right now, so I’ll persist with my research. However, like you, I am concerned with the dramatic increase in prices over the past 3 years and am trying to get a clear picture of the risk associated with flipping properties like I mentioned… I’m now interested in looking for some properties that are under market value, since you, Richard, feel confident that they do in fact exist.
Now, I’m looking forward to speaking with your contacts. However I can’t do that immediately since I’m on a ship and calling by satellite phone is so expensive [glum2]. Very frustrating!! I have to rely on email until I get to a US port when I can use my cell phone.
To Alistair
Thanks, I would appreciate the contact information of your Miami contact. All information is welcome at this stage. Another thing, you mention that this practise is common, but you didn’t discuss your opinion on the potential of making a profit this way…. Since you know a little bit about this, is this something you would consider, why/why not [exhappy]
To Richard
I appreciate your comments, thank you! I was getting the impression that this type of thing is becoming very popular. I was afraid that I’ve become aware of this too late and would find it difficult to sell as you described…. In regards to your suggestion of buying below market value and holding…. do you think there are many opportunities like this around? I would love a bit more info here. I’m very eager for advice and suggestions.
Colette
