I made a Real Estate Investment in IZMIR, Turkey

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Time stamps:
00:00 Introduction
00:34 Why invest in real estate in Izmir, Turkey
04:10 The Airbnb market in Izmir
04:50 Istanbul short-term rental market
07:00 Izmir is very well connected
08:49 Investment property visit in Izmir, Turkey
12:30 Rental yields of real estate in Izmir
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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.

[@TheWanderingInvestor]

Get in touch with Keith: thewanderinginvestor.com/services/international-real-estate-services/my-real-estate-buyers-agent-and-renovation-team-in-istanbul/ Full research article on Izmir real estate: thewanderinginvestor.com/international-real-estate/making-a-real-estate-investment-in-izmir-a-value-play-within-turkey/

[@akashgiri1985]

These guys are the best when they speak together. I will definitely contact them if I plan to invest. Very professional!

[@jgm3620]

Great apartment, thank you for the visit and for sharing your numbers

[@asadsom324]

Thank you for being generously honest

[@mjhmn]

Awesome Ladislas! I plan on holding my Izmir property as my Turkish plan B home.

[@thedcrypted]

This is good information. I have worked with both of these guys and they are absolute professionals. Owning real estate during the inflationary economy has worked out well this far. Nice place Ladislas, enjoy!

[@sherazmalik2179]

Same here. Bought an appartment penthouse in Izmir last year February 2022 just days before the Ukraine war started. It was a bargain. Value has doubled since then. What an incredible city and people.

[@kel8026]

Mine in Istanbul too. :D

[@thespiritualcapitalist626]

Looking sharp Keith

[@soundslight7754]

I'm very pleased with your investment choice and wish you success with the project, thanks for sharing with us

[@ericbuckner8182]

Great info great show.

[@RoPoAndre]

Thanks Ladislas! Regards :)

[@J0HN_3_16]

Do property values in Izimir still have significant upside?

[@taimurmughal78]

Thanks for an excellent detailed explanation. I am debating between Izmir and Antalya. I will appreciate your feedback. Thanks !

[@TheWanderingInvestor]

Izmir much better value. Antalya prices got pumped up by Russian money.

[@abdelhakghodbane2307]

all the best

[@tiborveres6811]

Ladislas my favourite

[@neonomad1939]

Izmir sounds good except for the risk of an earthquake.. How new does a building have to be to withstand a tremor??

[@TheWanderingInvestor]

Such new buildings follow strict standards for earthquakes. But yes, Izmir is synonymous with earthquakes.

[@sofiamaslanova5758]

They say strict standards but turks are known for ripping people off and many who said their building were earthquake proof in the last earthquake in Turkey are now collapsed. I'd never trust what a Turk says that's for sure!

[@nataliatorgashina8683]

Good appartment and great view! Aren't foreigners allowed for long term rent only? And all short term should be made by a local managing company? Also considering recent earthquake Turkey looks pretty risky now..?

[@Trumppower]

Nice..

[@marcus9848]

Nice apartment, the only handicap for my personal use would be the lack of a balcony. Probably for Airbnb not so important.

[@TheWanderingInvestor]

Yes, the only downside 😕

[@ml_g]

Great apartment, i am in south Turkey where property prices have gone crazy these past few years so Izmir is still a good investment BUT I heard that to have short term rental permission from the government/municipality must register yourself as a business so its a bit of a hassle. Have you got info on this that you could share with us?

[@peterko8871]

Property prices went up everywhere, man. Also in Euros and Dollars.

[@abdirashiddirie3522]

Will live there, but the thing I hated everybody smoke at any where.

[@investglobal0707]

$120K for that flat is a rip off！I bought 2 bed flat in Menderes which is very close to izmir airport and kusadasi and paid 50K. I got long term tenant who works at the airport and yield is around %9👍

[@TheWanderingInvestor]

You can’t compare this neighbourhood with a random area near the airport with long term Lira contracts.

[@investglobal0707]

@@TheWanderingInvestor Ladislav！I have been investing in Turkey over the 15 years.I have olive field nr izmir and I export olive oil and olives to the Europe.I know izmir like back of my hand my friend.No way I would pay that price for that property.By the way Menderes and Gaziemir is one of most popular areas of Izmir for living and investment.You call it random place😂😂😂👍

[@zareegoraya1528]

@@investglobal0707hello ! I saw your reply in this video, I’d be interested if you could show me a place in that range $ 50000. In March this year.

[@investglobal0707]

@@zareegoraya1528 Hi！sure，which areas you are interested in Izmir?

[@investglobal0707]

@@TheWanderingInvestor Ladislav！I have contacted the solicitor which you have suggested in Ukraine with regards to buying government property scheme via auction however I am still awaiting to hear from him.Its nearly a month I did not hear anything back！

[@Carolinapetroska]

Lot of stairs to access the building

[@derek2519]

Aren't you missing out on the power of leveraging in these market's? $120k would probably get you a duplex or triplex in many parts of the US. My real estate investments in the US yield much higher plus the tax advantages. I'm leaving out appreciation since that is variable depending on location. I love to travel and investment in foreign markets interests me, but I can never seem to make the numbers work out without the ability to leverage the property.

[@TheWanderingInvestor]

Yup, I hear you. Leverage goes both ways. As long as interest rates go up in the US, you are probably better off investing in cash markets (less downside risk). But when rates were low for sure the US made more sense. Investing overseas is not all about numbers either, but diversification as well.

[@patrickn.9734]

Hi Ladislas. If you had to estimate what would be the minimum required amount one would need to have saved up to start investing in international real estate(1 apartment)? I understand different countries have different market price i am just wondering for a ballpark estimate, just something to add to my goals. Thank you

[@TheWanderingInvestor]

Hard to say as it really depends on which market. But generally speaking $100k is a good starting point. Less than this and the trip isn’t really worth it.

[@sbadrawi2011a]

Probably an average of 60-80k is enough for starters. Off course, the more the better the location and the view, as in this case. There are developing countries which are much cheaper than Turkey.

[@Politician62]

I am interested. I visited Izmir in 2022.

[@TheWanderingInvestor]

Great. Keith can help: thewanderinginvestor.com/services/international-real-estate-services/my-real-estate-buyers-agent-and-renovation-team-in-istanbul/

[@ericeche1607]

Nice video, thank you. What about Bodrum?

[@TheWanderingInvestor]

Prices ran up too much. I wouldn't get involved there now.

[@ericeche1607]

@@TheWanderingInvestor Good point.

[@Abo_Oudai]

How much you bought this apartment for?

[@abdelhakghodbane2307]

what about ANTALYA compare to Izmir

[@pepper2304]

Does this property qualify for residency (not citizenship) . The government disallows certain areas in izmir now how does that affect the buying opportunities?

[@TheWanderingInvestor]

It does. But 95% of residency applications have been rejected since June. Now isn’t the time to try to get simple residency in Turkey.

[@pepper2304]

@@TheWanderingInvestor that stinks. No one else has said that. We'll chat further

[@TheWanderingInvestor]

@@pepper2304 They want to make their fees

[@pepper2304]

@@TheWanderingInvestor I may go for the $400k option but I don't necessarily want $900k in turkey especially since they cut out all the good areas of istanbul and izmir. I'm a RE person like you so not interested in poor locations. The doors are all closing.im a year late

[@TheWanderingInvestor]

@@pepper2304 For citizenship all areas qualify. It’s only for residency that there are limitations. You’re fine.

[@dovygoodguy1296]

Ladislas, what are the short-term and long-term impacts on real estate in locations facing earthquakes, such as Turkey and Morocco??

[@TheWanderingInvestor]

People freak out for a few months and then forget about it until the next earthquake strikes. As they have for the past thousands of years in this region.

[@dovygoodguy1296]

@@TheWanderingInvestor Specifically I meant the effect on the real estate market for properties, whether in Morocco or Turkey..

[@TheWanderingInvestor]

@@dovygoodguy1296 People prefer new builds more than before. But next year people will have forgotten.

[@dovygoodguy1296]

@@TheWanderingInvestor In other words earthquakes don't impact on the real estate market at all??

[@TheWanderingInvestor]

@@dovygoodguy1296 that’s not what I said. The market is shifting to new buildings and away from older buildings. For now. But in a year from now it will be business as usual if there isn’t another earthquake.

[@ck4966]

Hi Ladislas, could you make a video about tips and experiences on how you go and think about financing such a place? I assume these apartments are not paid all cash out of pocket? Or is it all cash at the beginning and after several months of operating the place (proof of concept so to speak) you approach a domestic bank and try to refinance the place, maybe get it re-evaluated to reflect the value-add?

[@TheWanderingInvestor]

All cash. No financing available locally for non residents.

[@ck4966]

@@TheWanderingInvestor Thx for getting back. Good to know. That of course puts the hurdle to entering the market quite high. Is this different in other places? For example, in El Salvador, banks have become more cooperative when it comes to lending/working with foreigners. You still have to have a high downpayment of say 30% or more but at least they are playing ball.

[@TheWanderingInvestor]

@@ck4966 Good to hear. But the interest rates are probably rather high…

[@peterko8871]

Financing in Turkey, at 15-20% rates? 😅

[@sbadrawi2011a]

@@peterko8871 How about financing in EUR or USD? Maybe the rates are lower!

[@TalhaKhan-sh1wb]

Would you care to reply and tell us that getting a property under 250k$ gets you their passport as well?

[@TheWanderingInvestor]

Minimum $400k investment. It can be a few properties that add up to this amount.

[@dovygoodguy1296]

How do you keep your properties well managed with so many? Interesting that it's nicely cheaper than in Istanbul. I wonder then if that's a Jewish neighborhood near the synagogue. Keith sounds like he's Canadian, very reliable if he's working with you and Andrew Henderson..

[@TheWanderingInvestor]

Good property managers are the key to success in this game 👍

[@naveedmahmood996]

How is your Izmir investment panning out!

[@TheWanderingInvestor]

Better than expected

[@johanfranken5300]

Hi, how much was this appartment and the sqm?

[@coltak1]

$120k including all costs and it's 70m².

[@jon-wd7rp]

Turkey Inflation soaring

[@TheWanderingInvestor]

Yes, not good. But it hasn’t been impacting pricing in USD of real estate

[@user-wv8zz1iv5v]

Who goes to those places? Man world. Not a place I would go neither invest. No trust in general….I must missing something because it’s a self evidence you know about investing… ha well?

[@matthewlee112]

Shhhh don’t tell people about Izmir yet lol

[@TheWanderingInvestor]

😅

[@zetrader]

Very interesting, thanks for the feedback.