Keith’s Weekly Property News May 9-2021

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Keith’s Weekly Property News May 9-2021

In this week’s meeting, we will return the focus back to property and keep my notes short (collective sigh of relief). There are a handful of properties that make perfect sense; 5-6 pct yields, some that offer a bump on renovation at 10-15 pct, and most of which will see 3-7 pct price growth over the next 3-5 years. To reiterate, those are the kinds of investments we seek. Anything above that, while entirely possible, moves into the speculation zone, apart from a select few that pop up from time to time that will vastly exceed the targets. While we would hope to find those for all our clients, we realise that this is just not realistic. Sometimes we have to take what the market gives us.

For clients looking to get their first property under their belt for the CBI, some of these lower-priced assets are a safe way to get on the scoreboard. While we continue to hope that the Covid situation will shake the market loose, in many ways it has been the opposite which is true. There might, however, be a tipping point. We are certainly on the lookout for that. Many ‘would-be’ sellers are sitting on the sidelines. However, those who need to sell always sell.

We are also reviewing properties that have been on the market for a while, but we passed on due to price. It could be a good time to throw in low offers, to the point they become viable, on those. These would usually be properties in the 1 mil + category. There are quite a few that fit the bill.

For CBI buyers, we are suggesting 2-3 properties maximum. If you are really keen to get the citizenship process started, you may want to make it two as a maximum, due to the fact that it might take us a while to source you 3 good investments. One property can also be considered, though again we are struggling to find value at the 2-3 mil TRY range. There are about 2-3 properties I would currently support.

Today, we will also spend some time discussing renovations, sqm pricing, desired aesthetic, time frames and a new way how clients will be paying for the projects. After extensive conversations with my accountant, the old way just will not work. And the new way he has proposed will drive up the costs too much, not to mention other practical deficits. Nonetheless, I believe we have found a solution, albeit one that requires a bit more active participation from the client. Again, I will review this in the meeting. I have established a new company for that purpose.

On a final note, thank you to the people who offered invaluable comments on the upcoming Mexico presentation. I will send out the final version when complete. In addition, I will be giving live commentary from the conference on the goings-on there. David from Florida will be co-presenting with me, so I am very happy about that. We have a game plan. It is a little different from what the presentation might suggest!!!  Property fund endorsed by NC? Convince Andrew to open up a Turkey property page?

Who knows…

Maybe we will join hands with ‘Bitcoin Jesus’  and he will guide us to the promised land ( :

Property links distributed during weekly zoom session

Tagged: Istanbul propertybuying property in Istanbulcentral IstanbulIstanbul apartmentsIstanbul buildingsIstanbul investmentIstanbul propertyIstanbul property sale, Istanbul real estateIstanbul renovationsProperty in Istanbul.

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keith-boyle

About Us: My Bricks is a unique real estate company in Istanbul. With over a dozen years of experience in downtown Istanbul, Keith has been involved in countless transactions. He tirelessly researches for the best opportunities for his valued clients. In addition, Keith has project managed over 50 renovation/restoration projects (see Keith in action on YouTube: https://www.youtube.com/watch?v=yLaLIjo9X-A&pbjreload=101). We source all kinds of properties, from budget properties up to luxury villas on the Bosporus. We give personal service to our clients; often doing zoom and WhatsApp sessions 1-1 and also webinars where clients can benefit from the wisdom of Keith’s other clients. In these webinars issues such as taxes, legal issues, design and renovation and identification of property opportunities are addressed. These sessions are typically run on Saturdays and Sundays. Come and join us; just contact Keith for details on: WhatsApp/telegram at +90 531 582 3876). Our living and breathing passion is real estate in the downtown area. We look forward to virtual sessions where you walk side by side with us along the streets or in real life when you arrive in Istanbul. We are fully equipped to help you with any logistic matters you may require, from obtaining citizenship through investment to managing your assets professionally here in Istanbul. At this point in time, the agency is transforming and we have investment coming in. It is an exciting time to purchase in Istanbul. I look forward to doing the ground-work for you and launching you on your way to a profitable and enjoyable investment. Kind regards, Keith Boyle

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