Quote:
Originally Posted by crombiestone
So you lost money on your last investments in Latvia ?  |
Actually we didn't lose money as we got in at the right time (and also went through a lot of blood, sweat and tears to reconstruct one of them).
As of 31 March we had tripled our money; currently we have only doubled it.
This reinforces the point that J4hurghada makes that knowing when and where to buy is only half the secret of how to make money from property - knowing your exit strategy - when to get out - is the second half.
Although I am often accused of over-hyping Hurghada, I will readily admit that the boom there is not going to last forever. I would estimate that there are three years left of rapid growth, a couple of years where prices level off, and then the market will probably be over-saturated and prices will fall.
By which time I will be off and heading for the next property hotspot being touted as 'the next Egypt'. I reckon Libya could be interesting as an outside bet.