Will i have enough money ?

[Ziggy Pop]

Hello,
I have been reading all the forums looking for my answers. can anyone let me know if i was right in my findings.
I was thinking of buying in calis Turkey, prob a two bed apartment.
Now in thinking maybe i would rent long term and may decide to buy later.
If i invested say £100,000 in a Turkey bank,  am i right in thinking that say at 15% interest in a turkey bank i would get 3000 ltr a Month to live on which would be £1500 a month in pounds.
Maybe i would get more what do you think.
Am i right or have i got it all wrong.  If im right would 3000 ltr a month be enough to rent a 2 bed apartment possible fully furnished, with say shared pool and air con, and have enough for 2 to live.
I have read about Living Permit money in bank Rules, so if i am renting property this would be proof of living wont it.
I have been racking my brains over this and want some real help.
I read the forum everyday and its been very helpful and very intresting. Just need to make sure im right. bye for now .  

[Twin Bee]

If you are certain about wanting to be long term in Tukey and have £100,000 to play around with and only want a  2 bed apartment I would buy one for upto £50,000 and invest the rest. I presume this is a good time to buy if you have cash and want to stay long term. If in doubt then rent for a while.

[GordonA]

the 15% is the lower end on 100k, but remember that the interest is taxed, and if you change to Turkish Lira now whilst it is low, you could lose thousands if and when the rate increases,
you may get 240,000 lira today, but the rate could rise say for example to 2.90TL to buy back the GBP would be higher example 3.00TL then you will have lost approx £10k, it is a gamble, can you afford it?
2 bed apart for sale in Calis from £30k, rent approx 450TL per month,
your money has now dropped to £60-70k

[Ziggy Pop]

I was thinking of renting next year , i dont want to tie all me money up cos ill be flying back uk quite a bit. I will still have a place in uk.  So will i have enough or not ? Thanks.

[kevin b]

I think you should be ok with interest on £100k & when you do buy the interest on say £50k should be enough to live on depending on your lifestyle.

[banker]

This is enough for two people to live in Turkey.  

[Ziggy Pop]

Ok Thanks for your help, i`ll prob be back soon with more questions, bye for now