What is this Greek Diary?
We’re two guys here in Athens buying property using the techniques we’ve developed over 30 years of purchasing properties in USA, UK, Australia, Spain and New Zealand.
Like many others we’re pretty sure there’s going to be a huge downturn coming down the road. So we looked for the next place to focus our buying.
We’re in Greece now because we specialise in broken property markets that have unusual market distortions and we try to move in early in the recovery cycle.
But setting up in Athens wasn’t easy because we had no one to show us the way.
Some of the things that happened along the way are so crazy we decided to write a kind of diary of our adventures in Greek real estate.
Here’s just some of the stuff we had to get to grips with when we moved into the Greek market…
- How to work in Athens as a foreign investor – the language for one thing!
- How to find the best deals from motivated sellers
- The good, the bad and the ugly – how to make sure things don’t go wrong
- Real world examples of deals we’ve done – we break down the numbers so you can see where the money is
- Stop deals from falling over and making sure we learned from each of them
- Understanding the market and what our exit might be
- How to put together creative deals that are unique to the current Athens market – because those deals won’t be around for long
- Which areas to buy, and which to avoid – it wasn’t as obvious as you might think
- How to deal with sellers with bank debts, arrears and tax liens
- How to work with Greek lawyers – what we needed to find out to avoid their ’20th century’ ways of doing business
Buying in Athens has been a rollercoaster, but we keep coming back.
Because whilst the rest of the world has super inflated asset prices Athens is still pretty much at rock bottom. When the s*** hits the fan for the next global crash Athens price don’t have anywhere to fall.our updates from our Greek Diary.