Hi Folks,
I have been reading some of the posts here with great interest. I am just about to complete on selling my buy to let property in London and I will have £50k of equity that I need to invest before April 2007.

I know this is a bit cheeky - but I want some free financial advice on buying overseas property. I want to spread the funds across a few properties if possible - which I think it should be with some off plan investments. Reading some of the posts here I am being tempted by some of the property in Morocco that is coming up. There are also some property deals in Turkey that look attractive from a low money down perspective. But I know nothing about borrowing in these overseas property markets.

Help Please.
Aaron

Arron, the first thing to know about foreign financing is that every agent will imply its easy as they want to sell u a property, however it isnt so.

Essentially they will lend typically using 40% of your take home income. This 40% must cover all mortgages including the new one.

Also the property and legal adequacy are key. Many many developers dont offer adequate financial or legal grounds.

Some investors sign a sales agreement 'purchase subject to suitable finance'.

My guidance is buy the best property you can as this will underpin the mortgability.
In my case - Morocco I went for the Kings 'Plan Azure' sites as they are the Government planned and backed entities. I went for Saidia which will have the biggest marina in the Med and eclipses all other resorts Im aware of. Also only a 3 hour flight and many celebs are buying here.
Easy to rent year round given many onsite rental agents and 3 18 hole golf courses plus 30000 guest per week to the 11 5 star hotels (these folk will be exposed to the limited private property for rent).

Non status mortgages up to 60% (possibly 80%) of the property value is supposedly available.

Turkey - Ive been, its ok but nothing special and further away than Morocco and not generaly seen as a winter destination so rental in winter are no good.

Investy,
Thanks for the advice. You are very pro Morocco and I can definately see the attraction.

Can I ask where else you might invest as well as Morocco. Someone steered me towards property in Thailand in another forum. Just wondering where else (apart from Dubai).

Thanks
A

Turkey is very special to me,

Aaron,
You can still buy propertie's in turkey for £50k.some are actually furnished.or maybe go for off plan,
There are still some great deals to be had.

Turkey - rental in winter can be good depends who or what market you would be aiming at,Long term rentals are far better than short term,

Should you need to borrow money try contacting the H.S.B.C.there is a link Here .HSBC - Turkey

__________________
www.turkishhomes4sale.com

www.turkeyherald.com

There are many ways you can look to invest your money but you firstly need to work out what you want to do with the proeprties. Are you wanting to have personal use or leave it solely as a longer term investment. Then you need to thoroughly research all likely areas. For faster growth then an emerging market such as Morocco is good and whilst I appreciate the views above re Saidia, if you then wanted to resell you will run into difficulties - it seems a great development but at the moment there is no actaul way of getting there and it is very close to the Algerian border in the middle of no-where. If you are ok with a self enclosed resort then fine - be aware you will be competing with hundreds of others if and when you come to sell. Alternatively a regenerating bustling town such as Tangiers offers a wide variety of prospects frontline units with fabulous sea views and a wealth of foreign business puoring money in. Commercial units are also a good investment. Tangiers is vying for the 2012 world expo and with their free trade Marina shortly due to open, the investments are endless. Certainly a sound investment there. Alternatives are secure mature markets. Spains Costa del Sol whilst going throught the horrors now will always be a safe and secure mid to long term market. If you find the right property you can purchase with very little deposit and providing you can sit on it for a few years will find it become lucrative. And yes, I deal in both markets!

Hi Aaron,
I agree with the overview on Morocco that a lot of people seem to have on these forums. Don't know enough about Spain.

One area I don't see a lot is investment property in Australia and it is something that I have started to research.
Regards
Flex

Aaron

I know how you feel i had the same problem didnt have any knowledge about investing overseas, to be honest i learnt the hard way , trail and error.Everything is going great now but it wsnt easy. The problem i found everyone has a opinion one investment might suit 1 person but not another thats why i feel by only listening to your self can be the best way, its ok to take advice but try and make your judgements on what you feel is best , do what you feel comfortable with, but on the other hand being in your comfort zone i think is not a good thing, you never grow.

I had around £50,000 at the start i went for a 3 bed house in spain, which didnt turn out to be the best investment but god for going away.Also i bought in Dubai,this is going fine but not ready yet.

I just invested in Morocco , wasnt much capital but i feel this is the best investment so far.

Anyway good luck

Thanks to all for replies and advice. Seems like there is a lot of pro Morocco people around here. I think I have my answer with regards to where to start.

PropertyInvest - you mentioned;
Sounds interesting - especially the low money down part! I want to make my capital go a long way. Can you tell me which development / area you have invested in please.

Thanks Again
A

But Saidia is the first Government backed 'plan Azure' project of which there will be 6.
The Plan Azure label will become synonemous with quality and exclusivity. Dont forget these are the 6 projects that the King is involved with, indeed he is forever on site at Saidia hen pecking the builders.

With the Plan Azure sites very significant infrastructure accompanies them.

In terms of resale:
1) There will be 6+ on site COMPETING agents where as the stand alone non Plan Azure sites will have to rely on outside UK and Spannish agents which are involved with hundreds of developments

2) No further building is permitted around Saidia for 15 years

3) The stand alone developments will all be in competition all pretty much the same, where as the Plan Azure resorts will be the Ascots of the Moroccan property scene.


Issues such as health facilities are vital. Saidia will have a very large ON SITE exclusive small hospital. The stand alone resorts will have very very limited facilities so tourists will have to take there chances at the local Moroccan hospital.


GOLF:

Ok many if not all the one off developments mention being close to or next to golf. THIS ISNT THE SAME AS 'IN' THE GOLF.
Saidia owners AND THIER TENANTS get to use 3 top courses which are on - site. They can litteraly tumble out of bed onto the greens - this is a crucial differentiator. Also owners and tenants get to play for 15 euros.
You will find many smaller developments mention golf but in the end nothing will be delivered.

SELF CONTAINED:

Many tourists like the idea of a vast self contained safe proposition. They have busy stresful lives so the thought of touring crowded hot Moroccan cities in search of chintzy ornaments really isnt important.
They want to roll out of bed, take coffee on thier terrace whilst thier kids play on the private beach in complete safety. They want a safe sanctuary away for hussle and bustle.

Dont forget Saidia will have over 20 independant restaurants set around the largest most impressive marina in the Med.


CHEAPER ALTERNATIVES

Buying in the stand alone non Plan Azure sites will be cheaper, but at what cost?
I like to eliminate as much risk as possible so I took the decision its better to be on the Royal backed premium brand developments. Indeed many more exclusive resorts in Spain started more expensive but now the returns are much higher and rental so much more robust than the myriad of small middle of the road developments all competing for attention.


SUMMARY:

For me the Plan Azure label will set apart the 6 Royal resorts and on - going quality and maintenance will be assured. Capital growth and rentals will be clearly reflected. Crucially I will be able to sleep at night better.

Sounds interesting - especially the low money down part! I want to make my capital go a long way. Can you tell me which development / area you have invested in please.

Thanks Again
A[/quote]
Aaron, thats why its good to have these forums to share ideas, let people know what was good and bad.

Here is the link to the development ,area etc. They are very helpful , very honest and up font with everything.Let me know what you think

Morocco - Tangier - Tanjah Beach & Golf Resort