British Expats
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British Expats (https://britishexpats.com/forum/)
-   The Sand Pit (https://britishexpats.com/forum/sand-pit-116/)
-   -   Projects that never were (https://britishexpats.com/forum/sand-pit-116/projects-never-were-710470/)

Meow Mar 23rd 2011 1:02 am
Re: Projects that never were
 
Originally Posted by Ethos83 (Post 9259173)
*having visions of heavy Soviet women with moustaches*
Be careful you don't get overexcited

Blue Cat Mar 23rd 2011 1:04 am
Re: Projects that never were
 
Originally Posted by EmiratesMillhouse (Post 9259168)
you do make me smile. You just said it was out of the money ... honestly think it'll recover?
no I said we had lost due to the recession we are still in money but not as much as we were before. Bought for 50k went up to 120k, down to about 90k now

Ethos83 Mar 23rd 2011 1:04 am
Re: Projects that never were
 
*pant* *pant* *pant*

Originally Posted by Meow (Post 9259177)
Be careful you don't get overexcited

Millhouse Mar 23rd 2011 1:05 am
Re: Projects that never were
 
Originally Posted by Blue Cat (Post 9259179)
no I said we had lost due to the recession we are still in money but not as much as we were before. Bought for 50k went up to 120k, down to about 90k now
ah, fair enough. well done... assuming the market is liquid.

I guess at this point I have to confess to being a defaulter on a piece of shit on Reem Island....

Ethos83 Mar 23rd 2011 1:06 am
Re: Projects that never were
 
Whoa!

No shit?


Originally Posted by EmiratesMillhouse (Post 9259189)
ah, fair enough. well done... assuming the market is liquid.

I guess at this point I have to confess to being a defaulter on a piece of shit on Reem Island....

Blue Cat Mar 23rd 2011 1:08 am
Re: Projects that never were
 
Originally Posted by EmiratesMillhouse (Post 9259189)
ah, fair enough. well done... assuming the market is liquid.

I guess at this point I have to confess to being a defaulter on a piece of shit on Reem Island....
meaning you bought or didn't? property is worthless unless someone wants to buy it at the end of the day. Will sell at some point.

Millhouse Mar 23rd 2011 1:09 am
Re: Projects that never were
 
Originally Posted by Ethos83 (Post 9259193)
Whoa!

No shit?
yup, I got excited.

Defaulted very early as I realized my mistake way before the majority. Thankfully, after having a chat with my in house counsel I got a clearance letter saying I have no further obligations to the developer so I am all good.

Ethos83 Mar 23rd 2011 1:10 am
Re: Projects that never were
 
How much?

Originally Posted by EmiratesMillhouse (Post 9259203)
yup, I got excited.

Defaulted very early as I realized my mistake way before the majority. Thankfully, after having a chat with my in house counsel I got a clearance letter saying I have no further obligations to the developer so I am all good.

Millhouse Mar 23rd 2011 1:11 am
Re: Projects that never were
 
Originally Posted by Blue Cat (Post 9259198)
meaning you bought or didn't? property is worthless unless someone wants to buy it at the end of the day. Will sell at some point.
hence my comment about liquidity. I'm currently thinking of buying a villa in the med. Literally nothing is moving (been watching for a while) and prices are still falling as people try and find the clearing price.

Millhouse Mar 23rd 2011 1:11 am
Re: Projects that never were
 
Originally Posted by Ethos83 (Post 9259206)
How much?
I knew you were going to say that... more that I would have liked, but less than I could afford...

Ethos83 Mar 23rd 2011 1:12 am
Re: Projects that never were
 
I am still planning on buying something in London, probably a 2-bed flat somewhere.

Would I be better off renting instead and buying holiday lets on the cheap somewhere in Spain?

Originally Posted by EmiratesMillhouse (Post 9259213)
hence my comment about liquidity. I'm currently thinking of buying a villa in the med. Literally nothing is moving (been watching for a while) and prices are still falling as people try and find the clearing price.

Millhouse Mar 23rd 2011 1:18 am
Re: Projects that never were
 
Originally Posted by Ethos83 (Post 9259220)
I am still planning on buying something in London, probably a 2-bed flat somewhere.

Would I be better off renting instead and buying holiday lets on the cheap somewhere in Spain?
Well, I am looking at Portugal. About 280Euro (250GBP) will get you something that generates about 17k in rental income (including voids - based on about 10-12 weeks a year) Costs are not that high in Portugal so you could probably get a good 6% yield (without leverage).

For real estate that isn't awful although I'd want a bit more given that I'm not convinced it's easy to sell stuff in foreign markets, or will be, for a while.

Certainly better than the Reem deal.

Paracletus Mar 23rd 2011 1:48 am
Re: Projects that never were
 
Originally Posted by fezzer (Post 9258706)
Thought this was in Baku..they seem to have equally as 'good' ideas.

A different itteration of it

http://www.inhabitat.com/wp-content/uploads/41.jpg

Hello.Kitty Mar 23rd 2011 2:10 am
Re: Projects that never were
 
Originally Posted by EmiratesMillhouse (Post 9259240)
Well, I am looking at Portugal. About 280Euro (250GBP) will get you something that generates about 17k in rental income (including voids - based on about 10-12 weeks a year) Costs are not that high in Portugal so you could probably get a good 6% yield (without leverage).

For real estate that isn't awful although I'd want a bit more given that I'm not convinced it's easy to sell stuff in foreign markets, or will be, for a while.

Certainly better than the Reem deal.
certainly France is completely stagnant. It took a year for my parents to sell their place (ex farm, large house, 2 holiday homes generating about £8k/ year and out-buildings), but the townhouse they bought had been on the market for 2+ years.

scrubbedexpat141 Mar 23rd 2011 2:11 am
Re: Projects that never were
 
http://www.skyscrapercity.com/showthread.php?t=739172

Classic multi multi $bn development thrown around before the fall...

The whole skyscraper forum can be good for a laugh generally.


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