paulr

It sounds ideal, buy a home abroad, free holidays when you want, then get a letting agent to rent it out when you are not there.

Has anyone done this, how is it, or did you try it and it was a nightmare.

The pitfalls i imagine are, when things go wrong. The bath overflows and floods the place. Bad enough at home, a disaster when its a three hour flight away.

cookstar

iTrader: (6)

We have a place in Croatia which we rent out, earns a nice few quid but is available any time to pop over for the whole family. The letting agent we use organised a cleaning lady that changes sheets etc and a good clean inbetween guests. If you get friendly with a few locals they can normally help out with maintenance in your absence, or know someone that will without pulling your pants down.

As the family is getting larger, we have been thinking about selling it soon and buying a bigger house over there, I fancy a stone built place.

alcazar

iTrader: (2)

Got a property in France, it's comfortable, but we are still working on it.

We don't let it. TBH, if you want to do so, you either need to be nearby, or employ a manager.

paulr

Cookstar.
Rent out as in...holiday rentals or a long term tennant. If holiday, how easy is it to get a decent occupancy rate.

cookstar

iTrader: (6)

Holiday rentals, it's on one of the islands so not quite as in demand as the mainland, however that suits us as it wasn't bought as an investment as such. I think we had 9 weeks last year but that was with family staying inbetween so could have gotten more.

We recently turned down a block offer for 8 weeks this year, as we plan to use it, but does show the demand is there.

paulr

Okay thanks. Obviously you like Croatia.

cookstar

iTrader: (6)

My wife is half Croatian and we have a lot of family there.

hodgy0_2

I think it is quite tricky to make it "work" financially tbh

The best you can hope for is subsidised holidays, I maybe a bit negative

But have seen friends stung

Some close friends bought a ski chalet nr morzine, went ok for a year or two, but then through a series of unforeseen and foreseeable circumstances ( including local French bureaucracy) it went t1ts up

To the point Where one year they could not afford to go skiing!!!!!!!

I am sure it is possible to get a income, but you have to be very canny and treat it purely as a financial transaction, but this is difficult when, by the very nature of the transaction it is personal

cookstar

iTrader: (6)

Paul, what Country do you have in mind?

paulr

Its only a thought atm, a flat in Berlin.

jods

Yes. Got a place in Florida. Had it for about 10 years. Have accrued a loss of about £8000 a year so we won't be paying any taxes for the foreseeable future.

http://www.findvacationrentals.com/f...tals-2387.html

zip106

£8k pa loss?
How come?

And, are those bars at some of the windows?

Looks quite nice though - I'll save the details for future ref.

boxst

I imagine because the house prices in Florida are now stupidly cheap. I was looking to buy and was amazed what I could get for us$100k.

Bars .... Yes. Quite a lot of houses have them 😨