Get in touch with Keith if you want to buy real estate in Istanbul: thewanderinginvestor.com/services/international-real-estate-services/my-real-estate-buyers-agent-and-renovation-team-in-istanbul/

@webiplus

Жыл бұрын

Does he offer rent in Istanbul and how much does he usually charge per month

@TheWanderingInvestor

Жыл бұрын

@@webiplus He takes care of everything

@webiplus

Жыл бұрын

@@TheWanderingInvestor Does he also consult with resident permit application as I know consultancy service for residential permit exists. I wanted to see if I could get 12 months.

@TheWanderingInvestor

Жыл бұрын

@@webiplus it’s become harder in Turkey right now. It depends on where you come from. Unwritten rules.

@webiplus

Жыл бұрын

@@TheWanderingInvestor If I was coming in from UK with British citizenship, would I be granted a residents permit? I wanted a digital nomad type of visa to live in Turkey.

Interesting idea to put the bedroom facing the street and the living space (kitchen, etc) facing the yard. My first thought would have been to do the opposite for more privacy, but I guess it just works best that way with the layout. Other than that it will be exciting to see how this turns out!

@TheWanderingInvestor

Жыл бұрын

You’re right. We had to think hard about it. A balcony in the bedroom would have been useless, here it’ll be in the living room and will be large enough for a small table and chairs. We’ll just add curtains for the privacy aspect. Curtains are incredibly cheap (and nice) in Turkey.

@dovygoodguy1296

11 ай бұрын

​@@TheWanderingInvestorLadislas, do us a favor and keep us well informed about your property creations and development in addition to helping everybody else. It's a pleasure to follow.

I was following your Istanbul property videos and now glad to see you made it finally! Şerefe!

Congratulations 🎊 really good purchase really waiting to see the results of renovations 😎

Please make a video after the renovations are done

Congratulations. I am hoping to visit Istanbul soon. i agree that its a terrific city from everything i hear.

Very cool. I've been keeping up with your travels and posts. I was really hoping you would pull the trigger. So far Keith seems to be the real deal. l. Please please do a follow up video on the currency situation, housing etc like a macro view from your perspective. I love the journey documentation. Keep it up.

All the best I bought the whole tire house in Istanbul and I will renovated very soon my property not far from you

Congratulation to the wandering investor for your new apartment and thank you for sharing your numbers. We are waiting for the result of the renovation 😀

Nice find, Ladislas! My wife and I followed you to Turkey and are in Istanbul now, hunting for properties for 400K CBI. Hopefully it will be a good consolation prize after the flour mill investment in Kyiv (which I had high hopes for) went *poof*.

@TheWanderingInvestor

Жыл бұрын

Such a shame about that Kyiv flower mill. It was so good 😞

Excellent overview

Well done Lad!

Congrats bro 🥳

Great job...

WOW! Congrats with your 17k subscribers! Didn't know you're a rising star here on KZread.

@es9382

Жыл бұрын

He is well worth it imho.

Nice purchase. I was hoping you would find a property and keep us updated. This city and real estate subject is hot topic. I also will look for the older one bedroom apt and update it at some point. Its a great value as an investment and resident visa. Not sure I am going toward CBI now though.

@noname34

Жыл бұрын

If you are purchasing in an older building, be careful about the earthquake risk and ensure that the building is up to the code.

Are those AAC Blocks you've used for the walk-in closet walls?

88k usd for 68m2 before renovation costs, which I assume they would reach like 20-25k so a grand sum of 110k to 120k or 1600 to 1800 per m2...it doesn't sound like a good opportunity to myself given that an apartment this size would fetch like 5000-6000 TRL or 250 to 300 usd per month...(this is for local renters).

@TheWanderingInvestor

Жыл бұрын

Check online on Sahibinden and look at newly renovated apartments in this area. You won’t find anything below $700 per m2, and this renovation will be in the top 10% of what is usually found. Probable rent around $800-$900

@es9382

Жыл бұрын

@@TheWanderingInvestor the question is who is going to pay 800 usd (which translate to 16000 liras) per month in turkey, where the average wage is like 5000 liras per month? You assume that either a rich turkish will come and rent there which is very dubious given that he would probably own a house (being rich) OR an ex-pat (digital nomad or a foreign employee of some kind etc) which is really risky given the huge supply of accommodation for this city...

@TheWanderingInvestor

Жыл бұрын

@@es9382 there is a lack of supply in the core center. The supply glut is in the far-flung areas.

@es9382

Жыл бұрын

@@TheWanderingInvestor I will not argue on that. There's a market for everyone in such a huge city. As you said in Sahibinden the rents are in the 15k to 20k liras for that area you bought and not a big supply (quite the opposite). I am only stating the risks of buying an expensive property in a poor nation (wage-wise; rich people are always present of course!). I really wish you good luck with your investment. I enjoy your videos very much!

@TheWanderingInvestor

Жыл бұрын

@@es9382 glad to hear you enjoy the content 👍

Amazing price

I admire Ladislas very much. A young man of immense creativity and depth. I watch his worldwide videos. Is he launching an international Airbnb network? I think it's great. Where does he call home??!😊 Paraguay? Ecuador? Costa Rica? Turkey? Just stay far from the Ukraine area, it's hopeless.

@TheWanderingInvestor

11 ай бұрын

Thank you ☺️. Yes. Staying far away from Ukraine for now. Will post a video on the results of this apartment in the next two weeks or so 👍

Hi great video and I hope it worked out great 👍 are you able to suggest a property manager in Istanbul near kagithane? I bought a place there and need a good pm to rent it out for me.

I'm a digital nomad lol and one thing you want to ensure is that there's mobile phone coverage or ensure you make adjustments if there is poor coverage. Some places are brilliant but something (e.g. walls) causes weak signal which can put people off. I have walked away from signing a lease because of it.

@TheWanderingInvestor

Жыл бұрын

Very good point. Thanks for sharing.

@osmans1694

Жыл бұрын

Is it an issue in istanbul?

@TheWanderingInvestor

Жыл бұрын

@@osmans1694 it’s a potential issue everywhere in the world

Thanks for posting this video, I have followed your earlier posts to get in contact with Keith and his team and will hopefully find a place in Istanbul soon. 2 questions for you: Is it possible to sign a rental agreement with a tenant in USD to protect yourself against falling Lira? And why don’t you consider renting out on Airbnb?

@TheWanderingInvestor

Жыл бұрын

Great, thank you. I hope you find a nice place. 1. You can find a solution. 2. I could, but am making the choice not to for now.

@kingofmambo

Жыл бұрын

as a airbnb tenant i will tell you : properties in airbnb tend not to be respected by "guests" and be slowly deteriorated, faster than long term rent.

How it costs my old renovation apartment in Istanbul to bye 2 bad room

Ladislas, how would you compare the STR returns for the similar properties in Istanbul vs. Budapest? Which market makes more sense in your opinion for investing in Airbnb property?

@TheWanderingInvestor

Жыл бұрын

Turkey much better yields, but technically illegal. In Budapest you can operate legitimately with the right permits.

Hi- Can you comment on how to ensure the building is earthquake proof if you are purchasing an unit in an older building? There are new building regulations in place in Turkey but some of the older buildings are not up to the code. Istanbul being in a major earthquake fault lines, one has to ensure the building is well built and up to the code. I would appreciate if you can comment on that.

@TheWanderingInvestor

Жыл бұрын

You double check the building before buying. If they’ve done well after all the past earthquakes, then they are more resistant than average. This neighbourhood is also less seismic than most. Ultimately, it’s a risk. But I’m not willing to pay more than 2x the price for better earthquake protection as my outlook is 5 years or so. I could be wrong. It’s a throw of the dice.

@noname34

Жыл бұрын

@@TheWanderingInvestor thank you for the response.

♥️Turkiye....best place to live and invest👍

Very attractive deal you got there in a prime location. I'm however curious to know the age of the building.

@TheWanderingInvestor

Жыл бұрын

It’s a building from the 60s or so. Not historical.

Nice. What happened to your Kiev projects or plans?

@TheWanderingInvestor

Жыл бұрын

The war started before the flour mill fund was even formed. We all got lucky 🤞

Thank you for this video. Could you do a breakdown video on all taxes when renting out an apartment in Istanbul as a resident and non-resident, is there any difference? It will be much appreciated...

@TheWanderingInvestor

Жыл бұрын

For long term rentals: Property tax + normal income tax brackets

@tahmina8498

Жыл бұрын

@@TheWanderingInvestor Would you pay the normal income tax bracket to the country you are a resident of? Say if you are non resident of turkey..

@TheWanderingInvestor

Жыл бұрын

@@tahmina8498 you have to pay taxes in Turkey, and then depending on where you are a tax resident, you may get a tax credit, or not, or there might be a double tax treaty agreement. Check with an accountant in your jurisdiction to see how Turkish rental income would be considered.

@tahmina8498

Жыл бұрын

@@TheWanderingInvestor Thank you for the information, much appreciated..

@dovygoodguy1296

11 ай бұрын

Tell us about your quality account services. They must be top notch to deal with so many international properties.

Istanbul, Turkey in general is a buy now..

@ml_g

Жыл бұрын

yes, but a few years ago it was even better.... i bought a property in Alanya, (south Turkey) and another in Spain in 2019 and am kicking myself for not having bought another one in Turkey instead. The Spanish one is just headache after headache but the Turkish one has gone up in value by 200% in 3 years.....

I have a question. Do you have videos discussing economic viability of expat locations relating to the ordinary issue of infrastructure: electricity supply, water supply, transportation, etc. to meet the needs of rapid growth and influx of expats. Places in Mexico are the first places to be affected which don't have the adequate infrastructure to handle all of it.

@TheWanderingInvestor

11 ай бұрын

These things generally improve over time as money flows in. With a lag.

@dovygoodguy1296

11 ай бұрын

@@TheWanderingInvestor So you're optimistic about Mexico despite the drought and water shortage situation and issues of the cartels etc.? By the way, what are your thoughts on Nicaragua and El Salvador? Especially as spots for expats in the future? The US still seems to be able to exert its heavy hand in the neighborhood of central America and the Caribbean. Ecuador is in the dollar, and so see basically Panama and Costa Rica.

@TheWanderingInvestor

11 ай бұрын

@@dovygoodguy1296 too many questions 😅

@dovygoodguy1296

11 ай бұрын

I guess that's what happens when you make such interesting videos!

Yes, but according to Turkish law you cannot rent out your apartment on Airbnb?

@TheWanderingInvestor

2 ай бұрын

You need a license, which is hard to get. For this one it would be relatively easy.

are there any gated community in istanbul that has a security guard?

@TheWanderingInvestor

Жыл бұрын

Yes, many. In the neighbourhoods farther away from the center.

Were your figures assuming cash purchase and not financing the project ie if this was an Unlevered IRR of 6%?

@TheWanderingInvestor

Жыл бұрын

All cash. There aren’t mortgages for foreigners in Turkey.

@Lanark83

Жыл бұрын

@@TheWanderingInvestor Ok. And your not concerned about the ever depreciating Lira? My Turkish real estate friends are getting their money out of the country and buying properties elsewhere in EU (Poland, Estonia etc).

@TheWanderingInvestor

Жыл бұрын

@@Lanark83 Sign up to my private list thewanderinginvestor.com/private-list/, I typicaly write an analysis before posting something. But yes, it is definitely an ongoing worry and risk. I would not go all-in Turkish real estate. It’s just a small part of the portfolio.

@kingofmambo

Жыл бұрын

@@TheWanderingInvestor i think the rentability is not so high. Do you think the prices in Istanbul will eventually go higher ? Is this your goal (to sell when prices rise up) ?

@TheWanderingInvestor

Жыл бұрын

@@kingofmambo Long term capital gains in the core center of capital city of 15 million.

Old apartments in istanbul like this one are gonna collapse in any big (maybe even medium) earthquake.

Cash purchase or mortgaged?

@TheWanderingInvestor

Жыл бұрын

Mortgages are not available for non-turks / non-residents

Congrats on the effort and transparency. But holy shit so much hassle and work for 6%... Not to mention having your money stuck in a dictatorship with very fluid regulation, laws, awful currency. At least you get a passport out of it

@sbadrawi2011a

Жыл бұрын

6% net for real estate is OK. Turkey is not a dictatorship.

You didn’t need walls to build a walking closet. 🤦🏻‍♂️ The closet itself would provide the privacy you needed.

Did you ever look @ Brazilian re?

@TheWanderingInvestor

Жыл бұрын

Definitely good pockets of value. It’s on my list. But I want to go there before talking about it.

@ml_g

Жыл бұрын

@@TheWanderingInvestor Bad idea... i'm brazilian and i guarantee you.... lots of headaches....

@TheWanderingInvestor

Жыл бұрын

@@ml_g Bureaucracy, regulations, taxes and hard to kick tenants out?

@ml_g

Жыл бұрын

@@TheWanderingInvestor All the above plus security concerns.

Can I also get such an apartment for renovation purposes

@TheWanderingInvestor

7 ай бұрын

There’s actually one for sale in the same building

@mehdihasnain853

7 ай бұрын

Dear; I m visiting Istanbul by end of this month to open up my account there; can I see you and we check the apartment and later you can get it renovated through Keith

@mehdihasnain853

7 ай бұрын

Wat is the price tag of this size old apartment?

J'ai pas tres bien compris, tu dis avoir payé 113$/m2, l'appartement fait 68m2 et les travaux + aménagement environ 400$/m2 ce qui fait 513$/m2 *69m2 = 34.883$ le tout. or tu dis que tu as payé environs $70-$80k

are these Earthquake proof?

@TheWanderingInvestor

11 ай бұрын

Istanbul has risky and less risky areas earthquake wise. This is amongst one of the least risky. It was one of my key considerations.

So you made 34% and 6.4% yield. If you bought the spy and just you would've done about the same profit with zero effort and headache and much lower risk. But thanks for sharing, fascinating video.

@TheWanderingInvestor

9 ай бұрын

Diversification

@fritzmetzger22

9 ай бұрын

@@TheWanderingInvestor SPY is diversified over the entire world. This apartment is an investment in one street in one city in a single country. Hardly counts as diversification

@TheWanderingInvestor

9 ай бұрын

@@fritzmetzger22 What I mean is both. I wouldn’t be all in Turkish real estate or the SPY.

@fritzmetzger22

9 ай бұрын

@@TheWanderingInvestor I don't think it counts as diversification. You took a huge risk in a country with 50% yearly inflation, while the result has underperformed a simple etf. You need to be properly compensated for the higher level of risk and I don't think this was the case. It's the equivalent of putting $90k in one stock and making 20%. It doesn't diversify the risk, it just increases the risk while the reward stays the same. I get it if you're doing it for the passport, otherwise doesn't really make sense.

I’m going to turkey later this year to look for a lifestyle property, unfortunately it’s far far away in Cesme

@TheWanderingInvestor

Жыл бұрын

Keith has expanded his operations to Izmir. He can help you find something there as well: keith@thewanderinginvestor.com

8% net is way too high.

@TheWanderingInvestor

Жыл бұрын

Not for Airbnb in this very central area at this price per m2. It’s actually on the low side.

@redx11x

Жыл бұрын

@@TheWanderingInvestor The problem with Airbnb is that a person can book your apartment for a wednesday and it can mess up a 2 week potential booking. What is your calculated occupancy rate?

Is it difficult to live in Istanbul when someone can’t speak turkish?

@TheWanderingInvestor

5 ай бұрын

Not really

@VA-zq7ii

5 ай бұрын

@@TheWanderingInvestor so most people speak English? Or in what way?

@TheWanderingInvestor

5 ай бұрын

@@VA-zq7ii No. You just get around.

Horrible return my dude. For 116k invested total you could have bought 4 used 53foot reefer trailers and rented them out at 1350 each thats $5400 a month. In 3 yrs you sell them for about 80k which is a loss of 36k but in 3 yrs you made 194k just from the lease. When u deduct the loss of 36k after u sell them in 3yrs thats 158k my man....thats over 52k a yr 😉 👋🏻🎤

Can you share number of Angelina

@TheWanderingInvestor

7 ай бұрын

Send her an email: angelina@thewanderinginvestor.com and add your Whatsapp

quite low ceiling ?

@TheWanderingInvestor

Жыл бұрын

A bit, yes.

J'ai pas tres bien compris, tu dis avoir payé 113$/m2, l'appartement fait 68m2 et les travaux + aménagement environ 400$/m2 ce qui fait 513$/m2 *69m2 = 34.883$ le tout. or tu dis que tu as payé environs $70-$80k

@TheWanderingInvestor

Жыл бұрын

*$1300 du m2 + $400 de reno par m2

@milooch

Жыл бұрын

@@TheWanderingInvestor ah oki 😅 moi et mon anglais...