sales guy predicting 150% profit by 2009!
Sadly, Auto320 is not here to advise.Hi
Has anybody been talking to a company about a development in north cyprus? A spanish company is selling 3 bed villas near beach off plan to begin development in 2009. I'm being told that I can sell the villa in 2009 before I even have to make the first build payment and make 150%. All I have to do is buy the land, pay some legal fees etc and wait and see.
Anyone ever done this. It sounds great but I'm nervous about it.
Thanks
Exactly - try getting some independent advice and crunching the numbers to see how realistic the sales guy's claims are. Bear in mind the little issue of the ongoing unrecognised status of the Turkish Republic of Northern Cyprus and the possibility that the land on which this development is taking place could feasibly be subject to legal claims by people who left/were moved out following the events of 1974!Well he would, wouldn't he?
Did you read the earlier posts? This is what a sales man is telling you. You cannot take such claims at face value.nothing promises the returns like north cyprus.
According to them they have been operating from Marbella for seven years and have recently set up in UK. they are very confident about this. has anything like this ever worked out for anyone, or is it all horror stories?
Why? What did they (who exactly?) say?As for TRNC, am aware of this having had v. interesting conversation with cyprus embassy during the week.
Do you actually believe this?according to the company selling these villas, they got them at a discount price already, so already 40% discount compared to developments going on right next door. then they are adding on capital gain based on previous years performance.
This is almost certainly the wrong investment for a cautious investor. If you have not realised this at this stage then I'm not sure what is going to convince you.I can't afford to lose this money in reality. It wouldn't be devestating but I'm by no means rich. So my attitute to risk is fairly cautious.
So - do you not consider the political situation to be a key risk here?embassy just said what you did, but in a slightly longer more verbose way.
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