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Sean

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  1. My wife is a hospital dentist. Qualified just over 15 years ago. It then took her about 10 years to become a consultant and earn a decent wage. Works full time 5 days a week and lots of paperwork in evenings, often past midnight. Very senior. Earns about £80k gross and no chance of big rises that I can see. She has lots of professional costs to maintain including CPD which she often pays for herself (over £3000 out of own pocket so far this year). Took her 10 years to pay off her student debts as the course was 5 years long and the summer breaks were too short to earn much. She drives a 6 year
  2. Its a while since I've logged on. Been too busy sorting out disastrous investments elsewhere. Funnily enough my worst investment ended up being my best - it went bust and I got everything back plus 6% interest. Funny how it works out. All that money was originally destined for 2 villas on VVT8 until I pulled out at the last minute due to lack of deposit guarantee. Popcorn and co, good luck with your investments. I haven't been following closely but the photos on various websites are incredible when I compare them against the sand I saw in 2006.
  3. I was in a similar position (though worse) in 1993 - small flat, crappy area, met wife, kids coming, mortgage £61.5k, flat valued at £38k. I took on a 2nd job, saved like hell, moved out of the flat and rented it out, bought somewhere else bigger in a cheaper and nicer area using only my wife's salary. It seemed like the only option to me at the time. The other option of course was to rent somewhere else but at the time the rental yields were so high that it felt cheaper to buy. I do not envy people going through this now. It was hell.
  4. So here's a question, how come my son's current school teacher describes the new private school as full of kids that are "rich and thick" but the new school is way way ahead in the exam league tables despite being full of thick kids. On top of this, the new school is the best around for most sports. Surely there is a positive somewhere.
  5. I could write a lot of things here regarding my choice of choosing private education for my eldest but will bite my lip, mostly to protect him. Things are complicated and very personal (me working long hours, recent death of his mum, autism,...). I am very aware of the potential bullying and I HATE snobbery to the extent that I look down on snobs, if you know what I mean. He will get a better education although I doubt it will be worth the £200k extra. Since posting on here this morning and reading this thread, I've decide to say no to the first ski trip. Let them talk. In fact, I've got an ol
  6. My eldest has just been accepted into private school. A year ago, they wouldn't touch him. This year, the two best ones locally rolled out the red carpet despite me turning up in a dented Ford people carrier. Must say it is a very painful financial experience. Before even starting, I've had to decide on the half-term trip abroad and the ski trip in March as "numbers will be limited". Its all a bit new to me and I can totally see why people are giving notice to pull their kids out when state schools are OK in the area. Its not that my monthly finances have changed (yet!) but the whole economy-h
  7. Esmerelda, sounds like you did all the right things (such as research, hard work and taking control) and have every chance of making a success of it over the intended timeline. Well done. That's the sort of thing I used to do in the UK when I had the time and when the rental numbers actually made sense. Just as an example, I would always put dummy adverts in Loot and see if the phone rang at the right rental price before I'd even exchanged contracts. In doing so, I made my last UK residential purchase about 7 years ago because it no longer made sense to buy. Going back to Morocco, most of us c
  8. Soup, thanks for the warning. I signed the contracts some time ago and was pretty sure I could sell on at the end and that it was at my choice. Having said that, the amount of paperwork was huge and all in French so I would not be surprised by anything in 11 years time. Probably saying too much here about it as it is a Morocco thread. Rondy, I think you sum up the investment situation well. I too think and hope that the resort will be great. Its just taking longer than expected and the global economy hasn't helped.
  9. Soup, I'm embarrassed to say that the Nimes property is one of two leasebacks I've bought. I find it irritating enough managing an ever-decreasing number of properties in the UK and just decided to go for the easy option. I was completely aware that I was being lazy at the time and paying a premium for the laziness. In some ways, it has worked out OK. I must also admit that I've done a bit of a Dogbox on the investment (ie bought without seeing the site) although I've been to Nimes and things are progressing well. It will be let to students and I hope to convert its use at the end of the term
  10. Soup, I am just saying dont be so sensitive. For most people, the main (if not only) decent investment they will ever make is in their home and many of them are openly being negative about the future prices of their homes on this site. Why does posting in the "Overseas property investment" section give you a right to escape the opposite so-called negative opinion? I have investment properties in the UK and France which I am concerned about and I don't think that saying so on here will make that any worse. For example, I reckon my flat in North London will fall by about £50k this year and I ove
  11. FWS, I do not agree that most people bought a holiday home rather than an investment. Surely an off-plan investment in Saidia has to qualify as a high risk investment rather than a holiday home purchase just yet. I think you are using the holiday home argument to stop the posters with opposite opinions to you. Even if you are right, so what. Most people buy their main home to live in rather than as an investment but this website is dominated by thousands of posts about how far UK homes will drop in value. This section has no right to be any different. If your purchase is not an investment then
  12. We all have a tendency to think the good times will go on forever and then when they turn bad we think the world will end. I agree with the comment that we will only know how good a recent Moroccan property investment really is in a number of years time. It is often commented that we (the UK people) are so small-minded to think that if we are feeling the pinch then the rest of the world is. Obviously, one doesn't follow from the other although there is some connection. What I would say is, yes, 75% of the holidaymakers may end up being French or German but what also matters (to investors)
  13. Last month Halifax said the SA index moved from 635.2 in April 07 to 611.8 in April 08, giving an annual fall of 0.9% after smoothing out for short-term fluctuations. Ignoring their smoothing (or fudging of the numbers), the annual fall was actually 3.68%. Oh and did you know that the denominator was changed at the last minute to their advantage in this calculation. So let’s take a look at what the annual fall might be in May 2008. To start with, the index figure for May 2007 was 636.7 (assuming they don’t smooth it of course) so the fall will be starting from a higher point than it did last
  14. Catara, I don't for a minute think your carefully selected comments are simply curious. Equally, Soup, as an exposed investor, doesn't want to be too critical of events at Saidia. I have been surprised at the lack of typical HPCers (who are always on the look out for anything negative on housing) contributing to the Saidia threads. I am very glad that I did not invest in Saidia (although I did invest elsewhere instead and wish I hadn't bothered). My reasons to pull out of Saidia were to do with the lack of bank guarantees and concerns about whether a secondary market would develop in whic
  15. Upward, I am familiar with insurance backed guarantees and what they do and don't offer. The right protection should involve escrow plus insurance backing. If you want to paste a few more details in, I'll take a look and get back to you. Chances are though that you will not be able to get hold of enough info for me to say it is "safe". Further, the rating of the insurer is key and I'll be surprised if this is a decent one. Also, the ratings at the moment are nonsense anyway.
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