investment and hols property

[stoop]

Dippey,

Do you want a job in Financial Services???

Network,

I hope we haven't put you off buying in Turkey as it has some great plus points. It's just that borrowing and expecting to cover you costs through renting might prove difficult depending on what you borrow and how agressive you network your property. It can be done though.

Just as an example - we have let about 6 weeks out already for this year and have not really tried that hard. I know we have at least 4 more weeks possible rentals. This should easily cover our costs in Turkey - but we do not have a loan so it's all a bonus really.

We might even get enough to pay for our flights this year


Stoop

[stoop]

Dippey,

What can I say?

I've just been re- trained due to de-polorisation and evidently I'm now a Financial Consultant.

I too have some letters after my name but haven't yey worked out what they mean!

Stoop

[stoop]

Dippey,

I shall be very careful how I answer that as I know bf reads these pages and I do not know how big he is--lol.

It would be lovely to meet you BOTH for a beer in Calis sometime this year so that we can discuss our relative professions.

I think we've gone a bit off topic here and should get back on track b4 Crabbit gets crabby with us!

Stoop

[stoop]

Dipps,

Well done! I take my hat off to you for taking the risk and going for it! Just one question - if you change your mind about moving to Turkey, how do you get the money back to the UK without arrousing our wonderful taxman? Just a thought as not everyone who might want to follow your lead will want to live in Turkey full time.

Stoop

ps -- based on your figures it might be better to just stick the money you borrow for your dream home into a Turkish bank account and let your investment grow without all the hassle of buying property. Just a thought -- sorry Scunner and Heidi.

[stoop]

A cautious approach required?

ISTANBUL - Turkish Daily News


  Global financial management and advisory firm Merrill Lynch said the overvalued Turkish lira was pushing Turkey's current account deficit higher and that rising U.S. interest rates could attract foreign currency, now used to finance the gap, putting pressure on the Turkish currency.

  In a report on Turkey's foreign currency situation, the firm said that although it expected no large depreciation, there was room for caution.

  It said the Turkish lira has been very strong over the past few months, despite the persisting deterioration in the country's current account balance and waning enthusiasm for Turkey's European Union membership bid in the aftermath of the French and Dutch rejection of the proposed European Union constitution. Although foreign investor confidence in Turkey was high, a delay in the start of membership talks, scheduled to start on Oct. 3 would hurt investor sentiment, the Merrill Lynch report warned.

Stoop