The Market Astounds me!

poopscoop

Conrad wrote:

Poop there is a beginning and end to all investments. People who made the real money from the California gold rush or UK B2L were those that did it early.

Same with last property boom. Same with dotcom shares (a freind of mine made £6m and retired in his thirties - he sold a year before the crash as he spotted the market was too overdone and crowded).

Fine if people want to get into B2L now but dont expect a decent return for a long time, especially when the pre - 2006 rally ends shortly.

yes, stating the obvious there mate. I was merely poking fun. ya get me?

My brother started a dotcom with some friends and retired in his 20s. That's why I keep telling people to be more entreprising

Conrad

perlof9 wrote:

Im seriously thinking about buying a flat in Romania. Romania is due to join the EU soon. Also the recent Channel4 program had Romania has the number one investment opportunity for property. Has anyone bought in Romania whi has relvant information to share?

Im a foriegn property nut.

Ive been doing it a few years and the one key factor that makes or breaks a deal for me is : Who EXACTLY will my hard earned cash be going to.

There are a lot of crooked and incompetent foreign property deal. Ive read many an account of people loosing thier money. THE REASON; they buy with thier heart and dont check things out properly.

I tend to go for large reputable developers (agents will always tell u a developer is safe, but look into it yourself - its easy), and I especially like those that have a BANK GUARANTEE which means a Bank underwrites any money u pay and will refund if developer goes bust.

Bulgaria seems to have a plethora of crooked deals and anyway is'nt a proper market (there is no second hand market), so avoid it. Dubai is overdone and Spain is not for investors of course.

My current project is Saidia in Morocco which I think is the best investment in the Med. Its backed by Spains second biggest developer, easy to deal 9many UK agents) and is the Kings premeir project which he is determined will be better than anything in Spain and of course flights are only a few minutes longer than Spain. Last year I bought in Berlin as they have been in a long recession.

Estonia will be a hugely important high tech economy and the legal infrastructure affords good protection.

Romainia will produce some winners but it is difficult to feel secure and know exactly who wants your 40% deposit up - front so not one for me.

Another tip: Unless you are buying in a holiday destination with a long season (eg Morocco has 12 month season where as Bulgarian Black sea is 4 months) then buy in the capital city.
The Bulgarian capital for example has produced far greater returns than the coast and has a genuine second hand market.