Maxie Dunne
Registered User
- Messages
- 16
Property investments abroad are not intended to be a 3 to 5 year. Probably 8 to 10 years.
Note construction plays a big part in Portugese economy and development will continue at a quick place - only buy in a quality development - one that you would be happy to holiday in yourself long term.
Low quality developments may mean a real pain to sell in time
Sounds like despite proving it your self that it is not a sound investment you are still grasping at it, perhaps due to the dream of owning a foriegn property. If you cannot see the main benefit or if you think you are missing something then there is not and you are nt.
A possible 10% on what?? 200-300k over 10 years, frought with risk, hassle, expenses, taxes etc you may not have even thougt of ..for 5 weeks holiday a year! you will likely get bored of after 2/3 years...
No brainer this one.
Have you paid money?Tks, I'd say you're spot on,
it's just a pity I didn't look into all this before I handed
over €4000 + €1000 in legal fees, an expensive lesson.
Prospective buyers beware of Guaranteed Rental Schemes,
there's only one winner and it ain't you.
funny you should use the term 'no brainer' that's exactly
how they described this scheme/developement at the property
Expo and in the Sunday Indo when they were promoting it !!!!
Have you paid money?
yea, we've paid €4000 to developers and €1000 to solicitors
Can you get any of it back?
What annual expenses should be factored in when estimating the potential real return from a foreign property investment ?
* tax on rental yield
* property maintenence
* management fees
* ???
Also, CGT on exit.
we are looking at buying a property as an investment in Portugal with a
guaranteed rental of 5% for the first 3 years.
But I'm a bit concerned because when I look at the figures
over say a 3 to five year period they just don't add up.
The rental will cover the interest-only mortgage, but what about
the expenses ie income tax, property tax, accountants fees etc.
If the property appreciates by say 10% pa on paper it looks like
we would make very little (if anything over 5 years)
- Would we just be better off putting the money into a
high interest savings scheme?
Can anyone throw any light on this please?
Tks, I'd say you're spot on,
it's just a pity I didn't look into all this before I handed
over €4000 + €1000 in legal fees, an expensive lesson.
Prospective buyers beware of Guaranteed Rental Schemes,
there's only one winner and it ain't you.
funny you should use the term 'no brainer' that's exactly
how they described this scheme/developement at the property
Expo and in the Sunday Indo when they were promoting it !!!!
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