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Spongebob

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About Spongebob

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    In a pinapple under the sea
  1. I'm so glad you all seem to find it funny that people have lost their jobs and possibly even more as a result. What a bunch of idiots! Property Secrets were a publishing and information company; they stopped selling deals a long time ago.
  2. Overseas investors can not borrow any money at the moment either which has to be a factor. We all know how the Brits like buying in Bulgaria and now that they cant get finance are pulling out of deals.
  3. Id agree but I guess you would say that as you sell UK property!! I have been buying and selling property in central and eastern Europe for the past 3 years and am now starting to look at the UK. We have to be careful when we say UK property mind! There are hundreds of tired lists been emailed about of distressed properties in distressed locations; I am far from interested in this. The areas I am looking at are places like Leicester where £3b is being spent on a huge development programme where thousands of jobs will be produced and new homes built. As for a terraced house in Gateshead at 40% below RICS - No thanks!
  4. I cant be bothered reading all of this but I would just like to point out that Handforth Dean is not one of the roughest council estates in the North West, far from it. I have relatives who live there for reasons I will not go into but I have walked around it at night plenty of times and never had any trouble. Compare this area to the likes of Huyton and Toxteth in Liverpool and some parts of the Wirral, they are completely different worlds! As for cabbie no go area, I have had many cabs to and from the estate Carry on.....
  5. Hi all, It would be interesting to hear the forums thoughts on the overseas market now that finance to buyers as well as developers is becoming a problem. Which countries still appear safe? Where have people bought and things are going wrong? Thanks, SB
  6. Hi Catara (my arch nemesis!) thanks for your comments. I have heard about the issues with finance in Romania but believe this may only be temporary, am I right? I see where you are with the overpriced apartments; we knew Bucharest could never carry on at the rate it was going and Cluj now seems very expensive for a town built on a giant bog! In your opinion what do you think about the Bellevue apts at the top of the hill in Brassov, the ones we have spoken about before? Have they performed well or will they drop in value? SB
  7. Does anyone have any views or knowledge on this subject? With what is happening right now the banks in Romania, Czech Republic etc are surely going to stop offering products to overseas buyers. Maybe I am wrong but if you look at global economics as a whole the outlook is bleak. Is now the wrong time to be buying or are those that take the risk now going to be the big winners at the end of this all??
  8. Abbey told me in a recent meeting that they were in profit this year; again, I find that hard to believe; maybe I will just keep it all in a suitcase under my bed! And thanks to the first two replies; its great to see there are still hillarious people out there
  9. Hi all, I spend most of my time on the Overseas section of the forum but would welcome anyones advise on here. My partner has received a 6 figure cheque; just over £100k and has never had much money before; I am trying to advise her on what to do with the money to ensure all of it is safe. Her building society, The Abbey claim they are safer than any other bank or BS because they are Spanish onwed. I personally dont buy this because Spain is experiencing problems like we are. What is the best thing to do with this money? Part of it will go on the mortgage I have with Barclays; I pressume this is safe? Thanks
  10. So true, I wouldnt touch Dubai with a bargepole! I have friends who have bought there and you are buying into pyramid scheme and flipping; it is so risky and the market is bound to crash. Can UK investors obtain finance in Egypt?
  11. Thanks for the advise guys. I have already bought in Romania, during Q2 2007 so have some experience of the market. Chisinau looks interesting so I will do some research on this. If anyone else has any tips or has bought somewhere with a good yield please share your experience here. Thanks
  12. Hi all, I have been monitoring the emerging markets in eastern europe for a few years now but would like to look at markets in Europe with high rental yields. Does anyone have any suggestions? I would like to consider countries/cities where you can get 9%+ yields. Thanks, Spongebange
  13. I would disagree; Sofia is an excellent opportunity as it is still very early in the growth process. As long as you buy through a reputable developer and use a decent lawyer you will be ok. Bulgaria isnt as bad as the scare mongers wish us to believe. Next you will tell me that father christmas actually exists?
  14. I have too heard good things about India... But dont you have to be Indian or related to an Indian to buy here??
  15. In my opinion I would go with... Investment amount: Up to GBP 100,000 Use this cash to fund 4 CEE property purchases, using 80k for deposits and 20k for fee's (it is essential to pay a sourcing company imo as using a contract direct from the developer is incredibly risky) Purpose: Long term investment, to end up as pension income Buy property in city centre locations and rent them out to the local market. When you retire look to sell 2 of 3 then sell the final one when you need to Management: Prefer to be hands off Using a UK company for this will make the investment completely hands off Location: ???? Anywhere Czech Republic and Slovakia are fairly low risk at present, Romania more so and Bulgaria(Sofia) 9 - 12 months behind Bucharest in terms of growth Risk: Low to Medium Balance your portfolio by having 2 or 3 low to medium risk and 1 higher risk. This higher risk investment will be where you make the most of your money all being well.
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