I was wondering if anyone has suceeded or know information about buying property in the Czech Republic?
The Euro was suposed to be intoduced into this country by 2009, however from what i have read wont be intoduced until 2014. Ant thoughts?
If I wanted to invest in the Czech republic (perish the thought, I rather spend the money on Lotto tickets), I would look for the local consulate and the local Czech club. Then, dress in my worst possible cloths I would go and ask questions on this like:
"I have a distant cousin of my wife who lives in bla bla and I want to do him a favour and find him a place to stay. How could I go about helping him to purchase a place for himself? I don't have much money but… etcCome to think of it, Randy Gage spends some time there from time to time, his folks are from there, you could ask him.
I personally think that Cuba will be the next best place to invest as soon as the Castro mob kicks the bucket. When the embargo lifts, the floodgates will open and americans and dollars will flow again and be part of the Caribean again.
Anyone has a guess at when this will happen?
Send me an e-mail a month before please!
Hi Marc,
Thanks for the advice. Reason why im looking is my partner is czech and we would like an investment in her hometown. As well as being applicable for low interest rates.
From what i can see there is cashflow + investments to take advantage of and seeing my partner is Czech can do without the expence of settingn up a company. However the things im worried about is they're property managers and quals for becoming a realestate agent….. about a $100 fee.
Randy Gage?? I searched his name with no success.
Yes, there is alwasy an advantage by being local even if only by elevation.
The disadvantage is of course the emotional involvment that usualy wrecks our best judgement. That is why I make this tongue in cheeck post in this section. I find the choice of places for investing rather amusing.
On the other hand I know of some german friends who have made a killing buying old run down palaces in Poland when there was a change in governemt.You never never know if you never never go!
What about cheap properties in the US?I did look into that some years ago when Westan sold up in NZ and started his venture in the states.
I havnt followed up on his progress in over a year but would be interested how the economy in the states has affected his vals.
Your right about our decision to purchace a property in Czech in that it is emotional regarding the fact that my partner is from there. As is the reason why i buy here is Australia. In someway i feel that i can keep a closer eye on it. Though do completely understand the danger of emotion when investing.
However i can there is money to be made there, and as you said people have. I believe that by the concession of the Euro there will be a rise in property prices somewhat if bought mindfully. If not, it will just be another CF+ property to add to the list. Im also looking at how to make this a tax deduction for future trips to Czech, ( I have no idea if this is possible yet, still researching, maybe you or someone else has some insight to this deductions for overseas realestate?)
Cheers
David
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