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DreamWeaver

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Everything posted by DreamWeaver

  1. Ya. . .unfortunately I didn't . . .I have two apts in Bansko from MRI. But as of yesterday, they swear blind that I will get a 5 to 6% yield. Will know soon enough (June). So, who are the guys to deal with for CV?
  2. Hey, guys, my apt in Marina Smir that I bought for 257,000 euros in May is now worth over 300,000 euros according to MRI .... an almost identical one sold for that a week ago. Well, I sure ain't complaining about Morocco! I'm gonna hold and rent the place on completion. I expect it will appreciate a whole lot more over the next year or so. And I expect it will bring in a tidy rental incomne too. If I do ever sell, it will be to buy a house here in Ireland .... after prices return to something reasonable. Residental rental yields here in Galway are only about 1.5% net . . . this is nuts! By the way, I also bought a berth in the marina there. Does anybody know how I might go about renting the thing out . . . I don't have a yacht. Yet! I's off to Cape Verde with MRI on Friday week to buy an apt there. And off to Portegual at XMAS to buy in the Algarve. Would appreciate any comments. Hey Dogbox, I can't message you directly. Can you email me at [email protected] I'd like to run some stuff by you.
  3. Jeez, wish you guys would stop da cat fight. I bought a beachfront penthouse in Marina Smir not that far from Saida for 257k euros (plus 15k for furniture in 18 months) and also a berth there for 37k euros. I'm very very happy with it and my biggest problem is trying to find another regoin as exciting as Morocco. I'm convinces that the rental return will be 10% or better and that I will see huge capital appreciation over the next few years. Ryanair have anounced several new routes ointo Morocco and I figure they know what they are doing. Also, has anybody read this week's Newsweek article on Morocco .... WOW .... they are as bullish as I am about the place!
  4. " Im Issuing A Challenge, Show me a better investment than Saidia Morocco?" Sania Plage, Marina Smir. Because its an established area with rich Moroccan tourists paying a fortune to rent in July and August ... I've seen rental contracts of MRI employees. Its also closer to Gibralter. and the proposed new tunnel Saida is unknown. It should work and I think it will, the facilities are very impressive and the king's reputation is on the line, but there are no guarantees.
  5. Did I understand you right ... a block of 10 flats for 5000 euros? Wow, I'd just buy it and sit on it ... unless there are rates or some other recurring costs to pay?
  6. Very very interesting. Unfortunately I've recently bought about 600k foreign property (mostly Morocco) and am kinda skint. If I could find these kinds of yields for a property costing say 100k euros, I'd jump at it.
  7. Thanks Dogbox. I'm looking at Cape Verde but feel its too late. Way too late. Germany looks better I think. Do you guys know of another Cape Verde which is 3 years behind so that we can get in at the bottom? Hey, what do you guys thing of Shanghai? Guaranteed 7% rents for 5 years on UKP 100K apartments in Pudong. Need 44k cash to make it work. Hmm? Jeez guys, if we could get high rents, we could leverage big time and make a fortune. Unless, of course, the rents dont materialize in which case we are seriously screwed. Another one I thoroughly investigated was high rental yielding multi family housing in New York state. Yields of 50% and higher. There was mention of them in another thread somewhere but no comments in nearly a year. I followed these up and finally selected a property yielding 47% gross in Rockford, low crime area of city, looks in good nick etc. So I rang the estate agent and guess what he told me? DONT DO IT! He says it may be possible to make it work but I'd need to be there on the ground, and be prepared to spend much of my time in courts trying to evict tenants for failing to pay rent. real shame. Because if you feed 47% yield into da spreadsheet, it kinda goes WOW and you fall off your chair.
  8. Go on then Tell me! Before I buy more stuff from them.
  9. Hi guys, I am very bullish about Morocco and bought a 153 m2 penthouse frontline beach appartment in Sania Plage for Euro 257k last May. Its half way between Marina Smir and Maiina Kabilla on the med. I got so fired up when I visited that my girlfriend bought an appartment on the spot. And then I went and bought a 12 meter berth at Marina Smir for about Euro 37k . The guys selling were MacAnthony Realty International (MRI). Their guys on the ground showed me their rental contracts ... rents go insane for July and August, even in appartments nowhere near the beach. Its wealthy Moroccans that rent here and its an established rental market. This might somewhat mininimize risk of terrorist attack, and also minimize the effect on rent if such a thing were to happen. All good so far. But MRI also sold me two appartments in Bansko in May even though I told them I will need rental income to fund them. They must have known then that there was a serious risk of over supply. They told be Bulgaria was the next best investment opertunity after Morocco. Makes me wonder about these guys. Anyway, I'd be very keen to hear comments on my purchase(s). And, where next? Berlin? Hi guys, I am very bullish about Morocco and bought a 153 m2 penthouse frontline beach appartment in Sania Plage for Euro 257k last May. Its half way between Marina Smir and Maiina Kabilla on the med. I got so fired up when I visited that my girlfriend bought an appartment on the spot. And then I went and bought a 12 meter berth at Marina Smir for about Euro 37k . The guys selling were MacAnthony Realty International (MRI). Their guys on the ground showed me their rental contracts ... rents go insane for July and August, even in appartments nowhere near the beach. Its wealthy Moroccans that rent here and its an established rental market. This might somewhat mininimize risk of terrorist attack, and also minimize the effect on rent if such a thing were to happen. All good so far. But MRI also sold me two appartments in Bansko in May even though I told them I will need rental income to fund them. They must have known then that there was a serious risk of over supply. They told be Bulgaria was the next best investment opertunity after Morocco. Makes me wonder about these guys. Anyway, I'd be very keen to hear comments on my purchase(s). And, where next? Berlin?
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