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Old 16-11-2006, 06:57 PM
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In terms of Turkskey or for that matter Bulgaria I would only entertain a City / Town property with year round rent.

People I know get about 16 week occupancy in the coastal resorts, thats 36 weeks empty. There are maintenance and other year round costs still leaching away.
Given investors own capital in the form of MEWd equity from thier UK property or cash withdrawn from savings has an interest cost every day, the books dont balance where rentals are relatively poor. In other words the all important 'total return' can be poor. I see examples of this all the time, yet the 'investor' thinks he's done well saying "I only paid £40000, now Ive sold for £80000, thats a £40000 profit'

In truth after Tax and lost rentals + cost of providing own capital + ongoing costs the total retrun is halve this sum.

All Im saying is do the math carefuly. Dont be like the CH4 'Place In The Sun' muppets who dont understand the concept of total return. Indeed some of them even give up work to develop thier project AND FORGET TO DEDUCT THE WAGES THEY WOULD HAVE EARNED HAD THEY REMAINED IN WORK FROM THE TOTAL SALE PRICE!!!!!!!!!!!!!!!
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