If there were one industry that seems to be keeping afloat, it would have to be the real estate industry. Even if the economy remains stagnant, people are still buying real properties for themselves. They probably know that when all else fails, real property value would remain strong. To tell you honestly, I am actually thinking of investing in real properties. Then maybe I can just rent these out to transients or those who are looking for permanent residences but can’t afford to buy a house just yet.
For instance, if I bought a Turkish property, I could put it up for rent for tourists who visit Turkey. Renting a house would be more economical than paying daily hotel room rates. Families who go to Turkey for vacation would find this setup appealing. Rather than pay for a crappy hotel room that’s too small to fit the whole family, they can stay in a bigger place that’s complete with all the amenities of home. Hotel rooms are not too child-friendly, whereas a homey ambiance would give young kids the feeling that they’re not too far away from home.
That’s why I thought, if I had a property in Turkey, it could be a great source of extra income for me and whatever income it generates may be used for its upkeep and to pay taxes. What do you think? Do you think owning a real estate property overseas would be a good idea or is it easier said than done?