Hi guys.

I wanted some advice from not just you 3 but all you big players on here!, I am in need of basic general tips for property investing and hotspots.

I hope to be a good investor one day, and am very interested and excited of the whole prospect. Currently I am looking for a first time buy to get my feet off the ground and the ball rolling. I write to you all with help in asking some tips and 'secrets' if you like. I read alot of your posts daily and try to keep up with the current market myself with research etc, however i only generate my research through current hostpots provided by alot of threads on forums as I would not know where to begin looking and i would rather take advice from investors than glossy brochures or agents selling

I am just wondering :

How do you all go about finding these current projects before most? for example the golden palm malaysia you recently reserved? - they are all currently sold out and I am just wondering how you go about with finding these hotspots in the first place? - do you read certain mags? have an update via agents or current websites?

I also ask how you first started out? I mean do you have succesful business' to generate the money from in the first place? I ask this because as a keen investor I wonder how I may start myself going, how i first begin to grow and gain.

For your interest I have been watching closely Saidia Meditterenea and reserved a one bed on Oasis = however I am now pulling out because I do not feel i am ready yet to pursue this as a first time buyer... I am however now looking more deeply into dubai and the whole dubailand development - sports city etc...

I do not mean to pry on your business and understand if you wish not to answer. But many thanks to all who do.

Best of luck with everything

Nick

quote:

Originally posted by nickohorn:
Hi guys.

I am just wondering :

How do you all go about finding these current projects before most? for example the golden palm malaysia you recently reserved? - they are all currently sold out

Nick, no secret formula just lots and lots of keeping an eye on forums and agents.

For my part I tend to avoid well trodden paths such as Dubai. Always try and picture the investment in 3 years time. I imagine Dubai will exhibit thousands of investors chasing new tenants.

For new developments I seek;
1) Uniqueness
2) Facilities - be carefull to distinguish here as every development will say it has great facilities
3) Ease of rentals - not on the say so of an agent. I want concrete plans such as those applying to Saidia or Malay palm.
4) golf / beach combo is very useful.
5) Limited supply. Not Bulgarian average new developments - there will be hundreds all much of muchness.
6) Safety - preferably Bank guarantees, Government backing and or a large developer
7) Get in early
8) If a mortgage is offered keep in mind you may be declined. Foreign lenders are often difficult.

Currently Im looking at Calabria in S Italy but you need to out down 40 - 50% on new build. Buying old wrecks needs care as people may rip you off.

Germany my other big interest currently. I have a great contact for dirt cheap flats, indeed I am considering selling some I own for between £11 - £15000 in a boom town in E Germany.

Work out how much you can afford properly or you will just pull out down the line.

Hey thanks for the advice Thorr.

At the moment I cannot really afford much, But I am always on the lookout to get myself started, I was very interested in Saidia but i suppose as a first time buyer I got a bit frightened. I have read about investors purchasing within the malay palm malaysia up to 8 properties! in which they intend to flip them all before completion... thats amazing!

With regards to Dubai, if they are constructing the biggest them zoned cities in the world which doubles in size of disneyworld purely aimed for tourism and holidays then they can only increase in sales and rentals for holidaymakers or even dubai workers working within the city??

Also is there any kind of website which you can get informed of new releases due?


Thanks

Hi Nick

I don't consider myself in the same league as Thorr et al, but started looking at property as an investment 18 months ago. We went as far as reserving at Le Jardin de Fleur in Saidia but pulled out at the last moment for a number of reasons (which I won't bore you with here!). I've been on the look-out ever since for something that offered political stability, good climate, good rental potential, an established infrastructure and somewhere with the potential for the budget airlines to fly into. Around Christmas time I'd narrowed it down to Portugal's Silver Coast or Calabria in Southern Italy as they met all the above criteria and, more importantly, I could see us being able to afford to buy!

We've committed to buy in Calabria in a region known as Capo Vaticano which is absolutely stunning. If you want to get an idea of prices, the agent we used was Dennis Onstenk at incalabria.com and he has two new developments in the pipeline that you may find interesting. (2 beds around 9ok euros)

Thorr, you don't always have to put 40-50% down - we're only being asked for 33% and the balance on completion in 18 months time!

Hope this helps!