Buy a property in Sofia for 45k today and sell it for 75k in 2007 – is this realistic because this is the opportunity that has been presented to me?
Anybody know the pros and cons of investing in Bulgaria are?
Any advice would be gladly received
Thanks
NeilHi Neil,
I have looked at your previous posts and it seems to me that you are currently throwing darts at a dart board without really knowing what you are trying to do – no offence meant.
I assume that this is your first foray into property investment. Is this correct?
Based on this assumption I make the following comments.
1. Work out what your investment goals are?
2. What is your preferred investment strategy?
3. What timeline/s do you have?
4. What skills and resources can you bring to bear to ensure your short and long term success?
5. What risks are you prepared to wear in your journey?
6. What risks are you not prepared to wear along your journey?I would argue long and hard that investing overseas is not for the feint hearted and that the problems (and there are problems wherever you invest) are compounded the further you move from home.
When you do move further afield then you do and will require and very substantial and well credentialled back up team.
Finally, I would highlight that there are no givens in real estate, particularly in the short term.
So for someone to say you can buy at $45K and sell for $75K next year reminds me very much of the sales pitch used to entice numerous mums and dads into inner city apartments in Melb and Syd in recent years. Many of them are now, according to the popular press (which isn’t always accurate) many of them are now sitting on negative equity.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113Neil,
Bulgaria is a very corrupt place and I would be very careful of investing there. The limited experience I have had commercially is not great, a lot of fun and games going on behind the scenes.
I would suggest there are easier ways to make money.
Cliffman
Hi cliffman
i’ve been investing overseas for a number of years. You have to be realistic.
the first thing that would concern me is How can you sort out things in Bulgaria if you can’t speak the language ? You may have a good contact now who speaks the language but then you are always relying on someone else.
How can anyone say that the market is about to rise by 75% (estimate ) in one year ??
A lotof people promote growth in these areas but I have a friend who recenty went to Turkey to look at the market (he is turkish by background) he came home to Australia saying he couldn’t find attractive deals.
regards westanWe find deals in the USA with growth potential, with equity and showing at least 14% gross returns. Email at [email protected],
http://www.iproperty.net.auHi there,
If you like I can get some clarity in this subjest. Yes it is insane to clame that the market will rise so much for a year – but there is sometrueth in evert lie. As Bulgaria is going to be a member in the EU every one expects the way of life to become more expensive – including the property prices. Of course profits like this are expected but only for some kind of properties.
And yes – the corrupionin Our country is still above the levels of EU but this has to change soon.
And more and more foreign investors come to Bulgaria the more the climate will become friendly.
Of course there are some deals that make money to many people that have cash. For instance at the moment the company that I`m working in now is selling agricultural land that is strategically close to sea or ski resorts, or golf courses to Israely people.
You will ask why – are they going to plant trees – no they will wait a bit and start a procedure for transfering the land into a regulated land ready for constructing villas. This way they buy the land for example for 15Euro per sq.m., they pay extra 2 Euro per sq. m. and it becomes 17 till now. After that they split the land into pieces for familliy villas and sell it for 30 Euro per sq.m. Some of they develop the property further and sell the ready house for more that 100k Eur.
<trawling not permitted – Derek>
If you think that this is not rela I can give you some exact facts.
Regards
StanStan Jones
/Translations & communication/
http://www.mybgproperty.co.ukOriginally posted by Stan_Jones:If you think that this is not rela I can give you some exact facts.
Hi Stan,
Give us the facts – not the trawling and advertising and public seeking of clients we are getting at the moment.
Kindly cease.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113Hi derek,
the facts are related to a cpecific deal. The only real facts I can give is for a deal that is already passed. I will do that if I see that this is of any interest for anyone in the forum.
If i`m doing anything wrong please let me know.
Stan
Stan Jones
/Translations & communication/
http://www.mybgproperty.co.ukHere is an example of a deal that we made here that just was finished:
Agricultural land : 6000 sq.meters in The Medovo village near Sunny beach (no building permitions – bought by the customer for 12 Euro per sq.meter = 72.000 Euro. The procedure for transfering the land into regulated land and the tax of 1.8 Euro per sq. meter is payed and the plans that are submited are for one family houses on 600 sq.m. each.
The present price of the regulated land is between 19 and 25 Euro.
If the customer wants to sell it we have a ready buyer to buy on 19 Euro. The land permitions will be ready within 6 to 9 months. And I`m sure that the prices are going up in this area.If our customer wants he can develop the 10 houses himself he may make a whole pile of money (of course if he has a smalle pile to invest.)
So these are the facts for now. I will post you with the new details when there are any.
Stan
Stan Jones
English – Bulgarian translationsHi there
I am a bulgarian real estate agent, working for a big real estate company with a good experience in property sales and transactions.
At first I would say that you should be very careful when chosing who to rely on in a foreign country, especially in Bulgaria. That’s the most important point when speaking about investments. I do understand that most of you have heared lots of bad things about Bulgaria- as corruption, crime rates, investment risks….but sorry is there a country who has no such things. You shouldn’t be scared of all the manipulations from the media. Our income rates of the investment for the last 16 yers are really amazing. At this point the prices are really low and this is due to many factors, wich have influence on the whole economy in Bulgaria. In the last 16 years (when going in democracy) there was a really dynamic change for bulgarians. And now we are infront of a big step- become a member of the EU, which as well will influence dramatically on the market as rising prices. That’s why this is the best time for investing in Bulgaria. And I would say that you should grab the opportunity and find the most appropriate investment for you. I would be glad if I can be helpful and will answer your questions in order to clarify your impression of Bulgaria as a whole. You can contact me as well on [email protected]Have a nice day to all of you.
Alina
I found a good article in an English newsletter about Bulgaria. It seems that the Brits are buying the place up like crazy. Worth poking around the newsletter for additional articles on investment in proprty in general.
Bulgaria: Buy to Let investors escape UK bubble in the new nirvana
Let’s say we are having about 20 transactions monthly with Brits. Beacause they are pissed of high taxes they are investing in properties in Bulgaria as a second or a third home and often come to live here because of the low prices of everything.
I just moved to london. Would it be crazy to leave here and move to Bulgaria instead. Get a job there, fully immerse myself in the language/culture etc and pursue financial freedom from Bulgaria instead of london. I mean its cheaper to buy property for one thing and I could see things from the inside- so to speak. It would be an experience. What do you think?
Originally posted by loanwolf:I just moved to london. Would it be crazy to leave here and move to Bulgaria instead. Get a job there, fully immerse myself in the language/culture etc and pursue financial freedom from Bulgaria instead of london. I mean its cheaper to buy property for one thing and I could see things from the inside- so to speak. It would be an experience. What do you think?
This is going to be quite an experience. Not the boring english way of life.
Yes the properties are cheaper and you can easily buy a good one .
With my help you can become a property developer and make a nice profit with a small pile of money.Stan Jones
/Translations & communication/
http://www.mybgproperty.co.uk
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