I've been investing in Cleveland for seven years, and I now have 8 homes there. But the last two years have been…
I've been investing in Cleveland for seven years, and I now have 8 homes there. But the last two years have not been easy: the municipality has become stiffer and fines on the right and left, the winter has been harder - 14 below zero - and the managers are lazier… pressures have begun. In addition, there is a feeling that something is changing in real estate in the United States. Maybe these are Trump's new decrees, and maybe prices that are no longer rising as they used to be ... I needed a change. What to do?
Until two weeks ago I went to Paphos in Cyprus for four days and I fell in love.
It's not just the sea, or the sun, or the lovable Cypriots, but also issues like a 7 percent increase in value a year, more than a million tourists last year and a million and a half expected this year, at least 200 sunny days a year, and after all that includes a return of 7-10 Annual percentage plus a Cyprus tax exemption for 19000 Euros per year and 12.5% tax only, plus the ability to take the family and fly 45 minutes to be a fortnight in your private holiday apartment… The truth is that it finally convinced me.
What’s more: Paphos has an airport! It's wonderful for tourists and investors.
Paphos is going to build two casinos this year, which will increase the value of the homes in quite a bit.
In Paphos City Hall is at her expense to build a marina.
In Paphos one can stay sixty days - not consecutive - and then become if one wants to be a tax citizen, an element that is very worthwhile because already today because of its small taxes Cyprus becomes what is called an official tax haven. The details can be heard from Anstasis, the lawyer I'm going to work with there
And now I'm packing up and another hour on the way to the plane to buy my first vacation apartment, and look for two more apartments for friends who have heard and want too…
While I was packing, a friend sent me this article and wrote: I thought you would be interested.
Definitely I'm only a year + investor in Cleveland… I do not know how it was there a month… It seems that the city is also developing… Anyway totally agree with you that the property managers are terrible and lazy… Service on the face ..hope for PM property management companies - we would love to hear how property management in Cyprus - and they The chance is for high yields considering all together… Cost - renovations - property management - replacement of tenants (if a vacation apartment needs a serious maintenance company that does not burden expenses, etc.)
Dissolve, dissolve. And diversify.
Ofir Goldschmidt
By the way hotels, there are a lot of insanely cheap hotels there. I'm going to be there for a few days at a hotel in a central area and pay 530 NIS for four days, and there are a lot of them .. The problem in the summer is that everything is full of madness and then everyone goes to Irvianby. And the name of the apartments .. :-)