Get on the property ladder with 5% deposit

[vergis92]

Holiday homes investment in south Greece and Cyrpus,

How to Invest in recession proof areas,

90% and even 100% mortgages available from selected developers,
new homes and off plan projects.

9% annual average growth, long rental season



visit;


Greece - Property For Sale in Greece - Overseas Property Investment Forum - The Totally Property Overseas Real Estate Forum

 

[shadowninja]

Recession proof? We'll see. Would you guarantee your savings and future income if people lose money?

 

[Hoggums]

Ladders go down as well as up!

 

[vergis92]

Recession proof? We'll see. Would you guarantee your savings and future income if people lose money?

Yes there are recession proof areas in every country, the holiday homes buy to let
business is slightly over supplied but I don't know of anyone who didn't make money this
year , or the year before

you got to watch two things, first that you buy below market value and second that
the location of the property will remain attractive,


holiday rental market is not like any other, in good places and countries there's
always demand, here this island 'sinks' by the visitors every year,
the only way one will lose their money is if there's a war or some severe natural disaster that I can't
guarrantee

and Greece's tourism doesn't depend on a any particular country, this year we had
a drop in English, German tourists and tenants but equally an increase on Russian
visitors, is not like you depend on one country

 

[shadowninja]

Yes there are recession proof areas in every country, the holiday homes buy to let
business is slightly over supplied but I don't know of anyone who didn't make money this
year , or the year before

Time will certainly tell. How did they make their money exactly? Buy and then sell?

 

[vergis92]

Time will certainly tell. How did they make their money exactly? Buy and then sell?

No I mean making money out of renting the property, the holiday season is long
and the weekly rental rates good, then they buy another property and so on,
they can get as low as 4.7% mortgage to do that,


then they buy another and expand, it's good to sell only if you need the cash
or have you made quick say in 10 months a big profit on an off plan project, you can
often buy well below market value in off plan

generally I advice against selling, once you own a property you can get more and more
finance to invest in other countries /markets, all one has to make sure the rental income will cover at least the interest,,

lending criteria remain soft compared to the UK, this could be the answer for
people who eventually want to get on the UK property ladder... but cannot do so
directly , 70% of our the buyers are from the UK!

 

[normbeef]

No I mean making money out of renting the property, the holiday season is long
and the weekly rental rates good, then they buy another property and so on,
they can get as low as 4.7% mortgage to do that,


then they buy another and expand, it's good to sell only if you need the cash
or have you made quick say in 10 months a big profit on an off plan project, you can
often buy well below market value in off plan

generally I advice against selling, once you own a property you can get more and more
finance to invest in other countries /markets, all one has to make sure the rental income will cover at least the interest,,

lending criteria remain soft compared to the UK, this could be the answer for
people who eventually want to get on the UK property ladder... but cannot do so
directly , 70% of our the buyers are from the UK!

I cant take this seriously.... I was preparing a big long speach about this but then I deleted it all and can only say one thing about it...

JOG ON MATE

 

[vergis92]

well if you can't back up your argument.....

at least I know what I'm talking about, I know the UK property market better than the market in other parts of my own country, if you know a better way to get on the UK property ladder please let me know, the only way I know is through off plan deals
in the UK, but this requires a mortgage broker/specialist as most High street banks
will turn you down

 

[normbeef]

well if you can't back up your argument.....

at least I know what I'm talking about, I know the UK property market better than the market in other parts of my own country, if you know a better way to get on the UK property ladder please let me know, the only way I know is through off plan deals
in the UK, but this requires a mortgage broker/specialist as most High street banks
will turn you down

I think you might be a tad late with this idea ? perhaps it will come back around in a few years but I dont think now is the time to buy anything (not yet anyway) I wonder if you ever heard the expression "catch a falling knife"

This is just my personal opinion,, and I do know a little bit about property investment.. i do however applaud you for trying to come up with alternative ways to get onto the Ladder... I just went to work for a few years saved up a deposit and bought at a good time ... its not for everyone, but it did work..

 

[vergis92]

well most people don't actually know that you can get 90% or 100% mortgage on a holiday home
that will rise by 5 to 9 % next year.... but anyway, what happens in every country is unique,for example don't compare German housing slump to UK falling prices, UK is expected to fall
a further 10-15% at most, after a 300% over 10 years.. so it's really a correction not a decline,
the average gain of doubling of prices every 7 years still holds true!
fundamentals of Germany are completely different to the UK's

Do you know for a fact that you can buy 30% below market value in off plan projects
in the UK at this time? even if you lose an extra 15% (which I doubt) you are still in gain

 

[normbeef]

well most people don't actually know that you can get 90% or 100% mortgage on a holiday home
that will rise by 5 to 9 % next year.... but anyway, what happens in every country is unique,for example don't compare German housing slump to UK falling prices, UK is expected to fall
a further 10-15% at most, after a 300% over 10 years.. so it's really a correction not a decline,
the average gain of doubling of prices every 7 years still holds true!
fundamentals of Germany are completely different to the UK's

Do you know for a fact that you can buy 30% below market value in off plan projects
in the UK at this time? even if you lose an extra 15% (which I doubt) you are still in gain

ok.. say this is true... i would like to know what you think will push the price of these properties up in the next 12 months ??

 

[anley]

Who's going to be offering 100% mortgages on ANY properties these days, or rather which madman is going to be underwriting them. It was tings like 100% mortgages and the like that got us into this mess inthe first place.

Cyprus and other places might be nice for a holiday and might go up in value at some stage in the future but as beef said above what's the reason for the property to go up when the world is IN a recession, and the only question is how long will it last.

Property for the time being is a busted flush in my opinion.

 

[Lee Shepherd]

well most people don't actually know that you can get 90% or 100% mortgage on a holiday home
that will rise by 5 to 9 % next year.... but anyway, what happens in every country is unique,for example don't compare German housing slump to UK falling prices, UK is expected to fall
a further 10-15% at most, after a 300% over 10 years.. so it's really a correction not a decline,
the average gain of doubling of prices every 7 years still holds true!
fundamentals of Germany are completely different to the UK's

Do you know for a fact that you can buy 30% below market value in off plan projects
in the UK at this time? even if you lose an extra 15% (which I doubt) you are still in gain

I would have to agree with normbeef. Jog on Mate, but without the mate bit.


So, how many investment houses have you got????
Or
are you here just drumming up business from easy prey who need a company to tell them where to invest their hard earned cash?

 

[normbeef]

Thing is I could be wrong in my assumption, but I wouldnt think you would find much easy prey on a traders website ???

By definition most traders are more streetwise than most..

Thankyou Lee, I was going a bit soft on the guy....

as I said in the first place .... JOG ON

 

[mechtraderpro]

Not that I want to burst anybodies bubble here, but I own two villas on keferlonia ! one I have owned for 7yrs and the other for 8 months (this was a steel, price wise). both were fully booked last year as far as rentals were concerned. in 2009 at the moment both are 80% booked with deposits secured. I have this year taken an unusual step of asking the booked customers if they still intend to take there booked holiday (being in the current financial climate). of the people contacted so far only one couple have doubts on there intentions.

of the booked holidays there are

65 UK residents
28 French residents
11 German residents
8 American residents
4 Irish residents

It seems that in this case, everything is as normal . I dont look at the villas as so much of a re-sale value. they are very long term as far as i'm concerned.there are, I think plenty of good deals at the moment regarding property wherever it be.as for mortgages, I cannot comment.

AND NO this is not an advertisement for booking villas :innocent:

 

[normbeef]

Not that I want to burst anybodies bubble here, but I own two villas on keferlonia ! one I have owned for 7yrs and the other for 8 months (this was a steel, price wise). both were fully booked last year as far as rentals were concerned. in 2009 at the moment both are 80% booked with deposits secured. I have this year taken an unusual step of asking the booked customers if they still intend to take there booked holiday (being in the current financial climate). of the people contacted so far only one couple have doubts on there intentions.

of the booked holidays there are

65 UK residents
28 French residents
11 German residents
8 American residents
4 Irish residents

It seems that in this case, everything is as normal . I dont look at the villas as so much of a re-sale value. they are very long term as far as i'm concerned.there are, I think plenty of good deals at the moment regarding property wherever it be.as for mortgages, I cannot comment.

AND NO this is not an advertisement for booking villas :innocent:

Well more power to ya... sounds like you might be ok...( I really mean it as well)

you say the second Villa was "a steal" so you admit there must be price pressure in that part of the world... but perhaps having been in that market for 7 years or so then you might be more qualified than others to take advantage...

My issue is with using an investment like this would really be the re-sale value..

good to hear some positive news for once with all the doom around... Phuket is really not that busy this year .. but thats another story...
:clover:

 

[mechtraderpro]

Hi Normbeef .
Sure there is pressure...more than there should really be..re-sales would be rubbish in terms of profit unless you would be prepared to HOLD. as with all the UK housing stock people will have to hold, many have not got the choice !.. as it happens I can hold if the rentals continue to be good..I will have to see on that one.if these become a problem then thats when I will be occupying one of them ....:clap: get me away from here anyway !!!

 

[vergis92]

ok.. say this is true... i would like to know what you think will push the price of these properties up in the next 12 months ??

If you mean the holiday properties we are selling, they have a proven average annual
rise, this is not a saturated market like parts of spain... what's happening in the world
today is not bad enough to really affect demand here.

in regard to UK prices our sources say that they will bottom out sometime betwwen
now and 2009-10, making a 30% decline from the recent highs at worst...

as for off plan investing in the UK, check these guys out

Property Investment in the UK - Invest in property with Serliana® and build a successful investment property portfolio today.

 

[vergis92]

Who's going to be offering 100% mortgages on ANY properties these days, or rather which madman is going to be underwriting them. It was tings like 100% mortgages and the like that got us into this mess inthe first place.

Cyprus and other places might be nice for a holiday and might go up in value at some stage in the future but as beef said above what's the reason for the property to go up when the world is IN a recession, and the only question is how long will it last.

Property for the time being is a busted flush in my opinion.

They will approve you 100% mortgage as long as you have a decent credit rating
in the UK, ideally without CCJ, been employed 3 years or more, and monthly
repayment doesn't exceed 33% of your UK salary, APR from 5.8% to 6.2
with flexible refinance options


Now regarding the investment of buy to let in Greece you have to forget the
'average property' because every place, every island can be completely different
to another, homes too can be completely different and appeal to different holiday
makers, in order to achieve the highest rental income you got to buy in the most
quiet, unspoilt area, choose a home with own swimming pool and equip it with
everything (not provided by us) electric appliances, sat TV etc, rental income
is tricky and there's no halfway success. I know of people who make a lot each year
and of others who don't make anything, you really have to do your homework
with the letting agents before you think of buying

My friends who bought such homes got subsidies, these can be up to 60% for
a greek citizen, I don't know if UK clients qualify, maybe they do, that's another
thing you got to research , what if I can get a subsidy in the country I want to invest in?
don't expect them to advertise it on TV, usually when I'm entiltled to money from
the government I have to dig for information myself

 

[shadowninja]

as for off plan investing in the UK, check these guys out

Property Investment in the UK - Invest in property with Serliana® and build a successful investment property portfolio today.

Are these the sort of scam artists who sell property at OTT prices and get expensive mortgages arranged for buyers at 100%/10x salary/whatever hurts, such that by the end of the month they can have a £1million portfolio (read mega-debt)? Didn't think they can still do this type of thing any more.

Our trusty trader, Darren Winters, has got in on the act, so there you go...Property Training Course By Darren Winters Win Investing