thurstan

careful with your money? dont want to risk it all in one go? not enough for the place you want? want to get in on the price rises? dont want to miss out?

me too

so I was thinking - 5 or 6 people could form a joint venture to buy a place - use it for rent and then sell in a few years time (eg 5 years) to realise the capital gain (looking to double the investment)

Yes, I accept its a bit wooly and investors would want safeguards etc etc etc but if you are interestd then send me a pm. I'm guessing that the "stake" could be 15 to 25k euro, but open to suggestions

I dont want to get into a huge open debate here but am willing to talk to serious potential partners

Thurstan

Susan

Are you mad, so you think you are going to buy a place for around 150k euro then in five years sell it for X00k euros.

The % on renting you would gain on your money is not worth it for a start, plus you have all the cleaning, upkeep, water,electric,tax bills, agent renting fees.

What sort of price are you thinking of renting it out for, so that you can double your money when you sell it.

If several people buy a place together and run it as a business, would you not have to form a company to do this, this costing you more money and having to keep books or have an accountant.

Anyway if anyone does take you up on it, good luck and hope you make money.

Susan

immac

This might be the perfect opportunity to set up Virtual Forum Investment. Identify the property you think you might have bought (if you had the cash) and we can all track it over the next few years.

If anyone goes into an investment like this with people they don't know, they are asking for trouble.

Good luck

Ian

bobthenob

l've seen this before,when several parties are involved in a joint venture, where they have different views on the venture once the investment has been bought,problems will occur.
lt only takes one party member to break the trust for the venture to deteriate into a situation of mistrust and then you will have parties that want to pull out.Causing conflict amongst each other where back stabbing will occur.
lf you are still going to go through with it,then you must find out who these investors are before you sign,some people are very good into decieving others through ill-gotton gains,and they just don't care even if you lay in the gutter bleeding because they have no conscience.
l strongly advise you not to go down that path where you yourself cannot get out of a situation that is irreversible.
l say this to everyone,that the best qualification that anyone can pocess is trust,but that qualification can easily be lost through deceptive behaviour,and thats when suspicious minds take hold and conflicts are born and escalatesout of control.
Please be careful

Helenm150

Hi,

I can't see why it couldn't work. In the UK I had 3 friends who couldn't afford a house separately but they bought together - they got a joint mortgage and a contract drawn up - and I don't think they ran into and problems down the line. Also, here in Turkey I know two friends who bought an apartment together - both of their names went on the Sale Contract. You would have to check it out with a solicitor of course.

Regards


Helen

Susan

Yes as you said "friends" Helen, not people who you do not know.

bobthenob

You mentioned that two friends you knew, got together to buy an apartment here in Turkey,thats not the problem since they know each other as friends.
But what thurstan is doing is asking complete strangers if they are interested in such a joint venture investment,the more parties involved,the more likely the venture will crumble,leaving others to pick up the pieces.
l already know a person that went into a joint venture,where three parties are involved,and one of the party has been secrectly pocketing the takings,the trust is gone and its just a matter of time before he loses the lot.l'm just saying to anyone that is thinking of a venture like this is to be very careful in getting involved into a venture like this,but do spend some time into finding out who these investors are before its to late to pull out.

thurstan

Food for thought:

Ahead of the game
Friday 31st August 2007

By Keiron Root


UK house prices have delivered strong returns, according to new research by Bank of Scotland International. 31 August 2007
The latest international housing trends survey by Bank of Scotland International has revealed that UK house prices have outperformed every country in the eurozone except Spain over the past five years,

Since 2001, house prices in the UK have risen 90 per cent, compared with a 40 per cent increase for the eurozone as a whole over the same period. Spain is the only country with higher house price growth than the UK over the past five years, with an increase of 100 per cent.

Tim Crawford, group economist at Bank of Scotland International, observes that ‘In fact, two of the largest economies surveyed – the US and Germany – are the only ones to have seen a fall in house prices. While UK house prices have risen more rapidly than in our eurozone neighbours over the past five years, this house price growth has slowed in the past couple of years compared with the likes of Belgium and France, which have recorded bigger increases.’

Indeed, the Belgian property market has recorded the largest rise in house prices in the past year, 18 per cent, followed by France at 15 per cent and Spain at 14 per cent, ahead of the UK at 13 per cent. Of the 12 eurozone members included in the survey, the only one to record a house price fall over five years was Germany.

Crawford adds, ‘Outside the eurozone, house price growth in the UK has outperformed Australia, Canada and the US over the past one, two and five years, although the US is the only one of these countries to have recorded a fall in house prices, with a 1.3 per cent decline in the past year.’

Thurstan

biggles

i have been to belgium a few times[ live not far from dover] and from what i have seen of it i like it ,if the uk gets much worse i would not mind moving there. still keep the home in turkey so we can get our regular sun fix. and maybe a flat in uk. it is not a good idea to sever links completely with the uk i would not think.