let me out of my spanish property nightmare

 Hi there,

I was one of those fortunate/unfortunate people who during the celtic tiger in Ireland decided to have a property portfolio.  Unfortunately I decided to invest in the 2 most volatile markets, namely Bulgaria ski resorts and Spanish sun holiday homes.  My nest egg of 500,000 was punted on 4 properties that I was guaranteed would be appreciating assets (guaranteed without guarantees , lol).

Now I find myself in need of recapitalising and so the resale of my properties began in 2008.  I guess this is much like many other people in Ireland and the UK.  So commenced my trials and tribulations in shifting property in a flooded market.  I spent literally thousands of euros between advertising, and estate agents and promotional fees and after 18 months still had no offers even after taking a 40% hit on price.

That forced me into the underworld of sales where I found corruption and lies rampant, save one company who were very upfront about my prospects and never made me any false promises.  I paid them a fee upfront of 50 euros a month (this wouldnt have covered the advertising alone let alone any promotion or work effort they put in).  Finally after 5 months with them they sold my properties in Bulgaria and hoooray I have cashflow and a little capital returned to my nest egg.

Now they are expanding to the Spanish market I think I will do the same.  

The moral for me has been, be careful when you can afford to and only take risks that you are willing to take a hit on.

Who knew the property bubble would burst so dramatically.  At least I am halfway out of this mess and to be honest my losses so far havent been as high as they could have been (even made a profit on one of them....lol)

If anyone has had any similar experiences feel free to comment.

 Hi,

I have spent 18 months trying to sell my 2 bed in Alicante but their seems to be thousands like this for sale at any given time.  I had the same issue withmy property in Bulgaria and between advertising and estate agents my nest egg was dwindling.  2years I tried to sell them myself.  As a last resort I turned to using the less mainstream methods and finally found one that worked for me.  I paid a company 50 euros a month to advertise and market my properties to eastern countries such as Russia and bulgaria and 4 months later hey presto I got shut of them.  Now I am hoping they can do the same for my Alicante nightmare.

The company is appreciating assets but I will let you make up your own mind as the above is just my own personal experience.

Regards and best wishes