Montenegro: How to flip a house for a 50% gain
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- Опубликовано: 22 июл 2024
- 📌 Contact Peter Square Meter: petersquaremeter@thewanderinginvestor.com
This 300m2 brown-phase villa is listed for €220,000 but realistically you could probably negotiate it down to €200,000 including stamp duty.
You would then add about €1,000 per m2 of renovations (taking into account inflation) and back-taxes.
All in you would be in at €500,000 for a brand new contemporary villa, in a market where you could flip it for about €800,000 due to a shortage of such offerings on the market. It's an easy 50% flip in a year and a half I would estimate.
📌 Contact Peter Square Meter: petersquaremeter@thewanderinginvestor.com
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No part whatsoever of the discussion and presentation is, or should be considered as, investment advice, financial advice, legal advice, or tax advice. Always do proper due diligence and speak to a qualified professional advisor in your jurisdiction. Also, be advised that Ladislas Maurice and The Wandering Investor staff may own real estate or investments in the specific markets or opportunities that are discussed. The Wandering Investor may also have marketing agreements in place with certain opportunities that are mentioned.
Get in touch with Peter! petersquaremeter@thewanderinginvestor.com
Thanks for all thr montenegro vids. Great stuff
Amazing views, my favourite area in Montenegro ♥️
fantastic view, great project in Montenegro
Fantastic! A Roman emperor's villa.
Turkey just raised the minuim investment for real estate citizenship to $400k. People that are in the process of buying those purpose built highrises for $275k have been screwed. Now they need to buy two of them. They also killed the $100k older apt market for foreigners in this process. I would not buy $400K worth of property in Turkey. And I deff would not put $500k in a Turkish bank. Montenegro property market should benefit from this action.
A pro. Get me in.👍😊
When I browsed real estate markets recently I came across many of this type unfinished "ruins". There was even an ensemble of 8 lookalike villas, which had been left unfinished for 8 years. Do you have an explanation as to why this apparently happens so often in Montenegro?
People run out of cash. No financing.
@@TheWanderingInvestor Thanks
Also, videos about real estate in Egypt like on your blog, would be nice. Could an apartment in new cairo city qualify for citizenship?
Some, not all. You’d need to spend at least $500k.
@@TheWanderingInvestor okay, great. More videos on plan B homesteading, Cambodian citizenship by investment and Cape Verdean citizenship by investment
Would I be right in thinking that Montenegro the country and buying property there is like a drug. You start off with a studio or one bedroom apartment then you become addicted to the lifestyle and value on offer, then you in hook line and sinker buying five bedroom villas with panoramic views :)
Wonderful region, I’m still at stage one
😅😉
Getting to Montenegro is tricky. I think I will fly into Dubrovnik. Would you recommend renting car in Dubrovnik or busing it and renting something in Montenegro. I got screwed before renting a car in Split despite researching the best company to go with. Wondering if Dubrovnik is the same
Both options are viable. Just make sure the rental company in Croatia allows the car to go to Montenegro. Not all do. If they do, they typically charge you an extra flat 50 euros for the car green card.
@@TheWanderingInvestor have you had any bad rental experiences in Montenegro? Any particular recommendations in that regard?
@@b4bmm I haven’t
If you are planning on spending some time in Montenegro better and cheaper to rent locally. Tivat is a good regional base. A few good contacts - Kombo Car at airport and Jelena Rent a Car, a small friendly agency located in Magnolia Square, Tivat Centre. Very affordable.
Before the pandemic, just booked a taxi from Dubrovnik into Montenegro🇲🇪
I have also flown into Podgorica from Rome.
I understand there are flights from Paris, London, Istanbul and a lot from places like Belgrade.
If only I invested before
I'd check the status now though.
Depends
Can you make a video for the Macedonian CBI? Albania, NM, and Serbia are in "open balkans" which is a mini schengen for the balkans. The free movement of people is planned to start in 2023. Seems interesting if you becom macedonian, you can relocate to other balkan countries, even more may join in the future, like bosnia or montenegro.
Thanks John. A lot of people are marketing the Macedonian CBI or talking about it based on information they get online. But in fact, even though many people have applied and « invested » the money, nobody has yet to receive citizenship…
@@TheWanderingInvestor More videos on turkey are appreciated as well.
Did he say 200k now and 300k for the finish?
Yes. Numbers in the description.
wow, i want those views! :)
Plus 30k in back taxes?
That would be included in the 300k, swimming pool as well.
500k all-in is a fair estimate.
Valuation seems way off
no one said it is liquid or would be sold in one year or two years. If it were a sure-fire bet then everyone would do it.
You would either have to lower the price or be bumped down in negotions with a steep price cut.
But in theory it is attractive. 500k means 50k yield per year, with a world index fund with the market going in any direction.
So a gain of 250k potentially, and assuming a realistic 150k profit if sold in 2 years is ok. You would get an extra 50k for the hassles in management over an index fund, with having potentially more insight over the market. There are fewer parameters at play in comparison to the world economy.
To me personally it doesn't seem worth it, nor the Maurice. He get's a cut from every project mediated by him for Peter Square Meter