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Property Investment in Bulgaria
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Happy_Bunny wrote:We bought a house in Bulgaria last year, in a spectacular setting, granted it is a bit run down and needs a bathroom, but it has about an acre of land and outbuildings and it is liveable, we don't owe any money on it, thought it would be safer to own one out right and rely on value going up
We paid £9,500 for it
That sounds more sensible.
It's not (outrageously) out of the price range of a local. You've bought it with cash, you have plenty of land & it's a nice setting - all for under £10k"Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
looking at a penhouse 2 bed apartment on sunny beach black sea resort...
very popular setting{Signature removed by Forum Team - if you are not sure why we have removed your signature please contact the Forum Team}0 -
Whats sunny beach like lost?:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
http://www.holidaylettings.co.uk/sunny-beach/
heres some people who are also trying to let, IMHO there does seem to be a lot there:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
{Signature removed by Forum Team - if you are not sure why we have removed your signature please contact the Forum Team}0
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no I mean, what do YOU make of it ?:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
lynzpower wrote:http://www.holidaylettings.co.uk/sunny-beach/
heres some people who are also trying to let, IMHO there does seem to be a lot there
Run run away.
Look at the availability of these places:
http://www.holidaylettings.co.uk/avail.asp?home_id=12644
http://www.holidaylettings.co.uk/avail.asp?home_id=12232
Maybe six weeks in July and August. Say £225 net in that season, £1500/year income on £100k.
The rents go from £75-£200 for single bed up to £150-£300 for 2-bed.
Fees are what? 50%? 25%? I'm guessing at least 25%, but probably more - they'll have to clean the place regularly, do maintenance, provide resort facilities, etc.
So you're looking at about £100/week off-season, £200/week peak season.
You need I reckon £5k MINIMUM net income after expenses but before taxes off £100k, because there'll be tax to pay in the UK (maybe in Bulgaria too???). So to get that you'll need to be getting very high occupancy.
And that doesn't look like it's going to happen.
So in a couple of years you'll be trying to offload your place to someone else, for less than you paid for it. Let's face it, how many people really want to visit Bulgaria? Not me, not ever, there are plenty of nicer places to go.
Just invest a proper investment (say a Bulgarian unit trust if you like): I wouldn't trust one of these companies at all, IMO they only want your money and aren't interested in the ongoing resort.My policies are based not on some economics theory, but on things I and millions like me were brought up with: an honest day's work for an honest day's pay; live within your means; put by a nest egg for a rainy day; pay your bills on time; support the police - Margaret Thatcher.0 -
Have we convinced you yet?
If you do decide to go for it, keep us updated. I know I'll find it entertaining."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
thats not the specific company i was going to go with - just a crude google search to show what sunny beach is about
very cynical comments so far - but I still reckon there's a killing to be made when bulgaris joins the eu and the trade/tourism borders are lifted - it won't just be brits going over....
still intrigued....{Signature removed by Forum Team - if you are not sure why we have removed your signature please contact the Forum Team}0 -
lost
have you got a link to the property so we can have a look?
I think we are all discussing a rather unknown quantity here really
:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0
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