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[FlamingoKid]

Dear David

After living in Floreasca area of Bucharest for over a year and experiencing the development of the city first hand, I am confident in my investment. Greenfields will be a great area of the city once the technology park is complete and fully operational and the Banasa shopping area too. Both will be walking distance from my studio which is located next to the biggest forest in the city. I have overpaid for rent myself, 40 sqm 1 bed @ 1100 € per month. This was in an old communistic block on the 7th floor with a broken lift. A colleague of mine rents a 28sqm studio next to the Howard Johnson hotel in the centre for 800€ per month, this is why I invested there. I am not in property investment to make a few quid over night and research all areas I invest in to the best of my abilities. At present I am in Turkey, also a great investment area, if you want to hear horror stories, take a look at the Turkey forums!!!

On these forums you only hear from unhappy people venting their anger but what about the hundreds, even thousands who are happy. If people are wise and research properly there is great potential in property investment. Yes, I made a mistake using a 'World Wide Agent' instead of a local, knowledgable company but I learn something new every time I buy in every country I buy in.

Should be a welcoming change for you to have a happy investor to try to re-assure other members and offer advice if possible to those who need it.

[David howe]

Dear Flmingo Kid

I would be delighted to hear from a delighted property Investor, but unfortunately your patter is not that of a property investor and resembles exactly what one of the selling agents says. anyone reading this who has bought in this development please comment if this is what you were told.

As for the Banessa development are you refering to the one that is now being shelved.

In addition 1100 euro story about rentals is total crap for want of a better word, studios such as this rent for 350-450 a month and a year ago 300 would have been more likely.

As for your friend who rents a 28 meter studio for 800 a month, only this morning we rented one similar for 400 and this is only about 200 meters from the Intercontental, you should be familair with the area as this is where you would have been collecting potential clients when you were living in Banessa and working for the agent selling.

Forums such as these are to allow ordinary decent people to find out the truth about what is going on and you Sir, are not telling the truth about this market as I believe you have a beneficial interest in it.

Anyone who is of the same opinion as to the outlandish comments made please endores me on this as it is stories such as this that have induced so many people into parting with hard earned cash when they were without foundation.


David Howe LLB LLM

INVESTMENT ROMANIA - Investment in Romanaia, Property management, Due diligence, Renting in Romania

Originally Posted by FlamingoKid

Dear David

After living in Floreasca area of Bucharest for over a year and experiencing the development of the city first hand, I am confident in my investment. Greenfields will be a great area of the city once the technology park is complete and fully operational and the Banasa shopping area too. Both will be walking distance from my studio which is located next to the biggest forest in the city. I have overpaid for rent myself, 40 sqm 1 bed @ 1100 € per month. This was in an old communistic block on the 7th floor with a broken lift. A colleague of mine rents a 28sqm studio next to the Howard Johnson hotel in the centre for 800€ per month, this is why I invested there. I am not in property investment to make a few quid over night and research all areas I invest in to the best of my abilities. At present I am in Turkey, also a great investment area, if you want to hear horror stories, take a look at the Turkey forums!!!

On these forums you only hear from unhappy people venting their anger but what about the hundreds, even thousands who are happy. If people are wise and research properly there is great potential in property investment. Yes, I made a mistake using a 'World Wide Agent' instead of a local, knowledgable company but I learn something new every time I buy in every country I buy in.

Should be a welcoming change for you to have a happy investor to try to re-assure other members and offer advice if possible to those who need it.

[FlamingoKid]

Sorry Sir but you are mistaken....thanks for the info on Banasa project being 'shelved' as you say, not the best news I could have had but then the Technology site I hope is still going and will hopefully bring demands for rentals.

My work is not far from an estate agent, I work for a law company, I am not a lawyer though, just an assistant, and the company does deal with property purchasing here in Turkey, but to make you laugh, I don't even use them myself. I do know the area of the Intercontinental, I tried to stay away from that horrific junction, too busy.

Sorry if my 'patter' is that of an agent, maybe I am in the wrong business. As I said before I am a buyer trying to build a portfolio to support me and my family in the future and I believe that spreading my money around different countries will benifit me rather than, as they say, put all my eggs in one basket.

Kind Regards

[FlamingoKid]

For anyone who is interested look up dutchie management dot com.

They have given me permission to mention them. Ask for Alexandra, she has great knowledge of the market in Bucharest being Romanian and is very helpfull. (fluent in English too)

Tell her Chris recommended them (I may get a little bung)

[Transylvania Investment]

Dear Flamingokid,

As anybody knows real estate market is down in Pipera area as well as in Tunari and other such bubbles just as we've predicted and written here countless times. The North of Bucharest is so busy and so unsystematically developed as well as so dear that we think value there is most of the times overrated. This happens also because the foreign agents on the Romanian market add to the price so much that a property ends up being sold for 300k when Romanian agents offer it to Romanians for 190k. There are so many middlemen involved in most of the new developments that anyway diminish the potential profits of the investors.
Although there is still value in Romania, especially in Bucharest (and I agree with David here) in overall the market stuck: there are many properties nobody wants and there are yet more to come in the form of new developments. We can't even speak of prices anymore, since the price is given in case of a transaction which occurs at some point. The situation is similar in other Central and Eastern European countries and is due to the crisis. Call it psychological effect, back it up by economy issues, what matters is the buyers are waiting.
I am glad however you are happy with your purchase. Our clients who called us all last summer were not very pleased neither with this particular development, nor with other similar ones and actually turned to us for legal help to exit these agreements.

Kind regards,
Marinescu Diana,
Transylvania Investment


QUOTE=FlamingoKid;84772]Dear David

After living in Floreasca area of Bucharest for over a year and experiencing the development of the city first hand, I am confident in my investment. Greenfields will be a great area of the city once the technology park is complete and fully operational and the Banasa shopping area too. Both will be walking distance from my studio which is located next to the biggest forest in the city. I have overpaid for rent myself, 40 sqm 1 bed @ 1100 € per month. This was in an old communistic block on the 7th floor with a broken lift. A colleague of mine rents a 28sqm studio next to the Howard Johnson hotel in the centre for 800€ per month, this is why I invested there. I am not in property investment to make a few quid over night and research all areas I invest in to the best of my abilities. At present I am in Turkey, also a great investment area, if you want to hear horror stories, take a look at the Turkey forums!!!

On these forums you only hear from unhappy people venting their anger but what about the hundreds, even thousands who are happy. If people are wise and research properly there is great potential in property investment. Yes, I made a mistake using a 'World Wide Agent' instead of a local, knowledgable company but I learn something new every time I buy in every country I buy in.

Should be a welcoming change for you to have a happy investor to try to re-assure other members and offer advice if possible to those who need it.[/QUOTE]

[johnjohnson]

Flamingo kid
You sound remarkably like someone that has worked for the agent that we all know of and has three letters in its name.
After consulting with a couple of people that I know, I found out that there was a Chris that worked for them in Romania and then went to Turkey... Hmmm interesting...
Another tidbit of information that I am now aware of, Alexandra who works at dutchie management is actually Alexandra Varga an ex employee of the company whose name we can't mention and dutchie management is owned by Jacques Kroes(Alexandra's boyfriend), the ex manager for Romania of the company whose name we can't mention.
Now here's where it gets interesting... Jacques was arrested in Spain last year and spent 3 months in jail in Madrid before being released on bail...

Wow, what for???

Timeshare/property fraud!!!

Thanks for the recommendation Flamingo kid but I think I'll pass...

Chris, you worked for the company whose name we can't mention along with Jacques and Alexandra in Romania and now you're probably working with them at dutchie management. Stop using this forum as a way to con more people out of their hard earned cash.

John

[David howe]

Bravo

I was aware of a % of the information mentioned, but I think you have educated quite a few people on the importance f Forums such as this.

David Howe LLB. LLM

INVESTMENT ROMANIA - Investment in Romanaia, Property management, Due diligence, Renting in Romania

Originally Posted by johnjohnson

Flamingo kid
You sound remarkably like someone that has worked for the agent that we all know of and has three letters in its name.
After consulting with a couple of people that I know, I found out that there was a Chris that worked for them in Romania and then went to Turkey... Hmmm interesting...
Another tidbit of information that I am now aware of, Alexandra who works at dutchie management is actually Alexandra Varga an ex employee of the company whose name we can't mention and dutchie management is owned by Jacques Kroes(Alexandra's boyfriend), the ex manager for Romania of the company whose name we can't mention.
Now here's where it gets interesting... Jacques was arrested in Spain last year and spent 3 months in jail in Madrid before being released on bail...

Wow, what for???

Timeshare/property fraud!!!

Thanks for the recommendation Flamingo kid but I think I'll pass...

Chris, you worked for the company whose name we can't mention along with Jacques and Alexandra in Romania and now you're probably working with them at dutchie management. Stop using this forum as a way to con more people out of their hard earned cash.

John

[VargaAlexandra]

]

Mr. Johnston I must admit for a simple client you are quite well informed…my name is as seen Alexandra Varga and I am ,indeed, running a property management company in Romania together with my partner Jacques Kroes and yes we both worked for that company in the past, something that we never denied.
I joined this forum only as a response to your accusations and I do hope you have more arguments to back them up…otherwise I would kindly as you and Mr. Howe never use our name again.
And big coincidence Mr. Johnston is that your username is indeed one of my ex colleague’s clients.
My guess is that we used to work all for the same company..my only wonder is why you need a nickname?

[johnjohnson]

Well informed, perhaps, a client, no, an ex-employee, definately not.
After spending three years living on the costa del sol I came to know quite a few people that worked for the company whose name we can not mention.
I unfortunately had to listen to many horror stories about what it meant to work for this company and the crap that they were telling their clients.

John

[VargaAlexandra]

So,you never met me, my company ....but you find it normal to make accusations based on some stories you've heard on Costa del Sol from your anonymous friends!!!I’d say is not fair ,but depends on, we have a saying here, “what you received from home”

Regards,

Alexandra Varga