Buying Really Inexpensive Property

On today’s show we are taking another look overseas. We are accustomed to places where there is growth. We don’t really know how to invest in places where population is shrinking. 

Today’s show is the story of Nadia. My wife and I met Nadia when we were on vacation in Mexico a few years ago. Nadia was born in Germany and she has lived in Ireland and the US. She married an Irishman who was in investment banking and moved to the US. The marriage didn’t last and Nadia found herself on her own. She has a few close friends and a few years ago she decided that she wanted to travel the world. But she didn’t have the funds to do it all. She figured that if she found a place in Europe that was inexpensive, she would have enough funds left over to travel as much as she wanted. 

After all, destinations in Europe are very close and flights on discount carriers can be real bargains. Often the taxi ride to the airport is more expensive than the flight. Carriers like Easyjet and Ryan Air pioneered the discount carrier model in Europe. Today Air Berlin, Blu Express and many others offer amazing deals.

So Nadia moved to Bulgaria an bought a home for 8,000 Euros. She put a few nickels into fixing it up and her total investment was around $20,000 Euros. 

Today Nadia has a new boyfriend. He’s an Englishman and they spend their savings on traveling around Europe mostly. Next year they’re planning to visit Machu Pichu in Peru. 

Now just in case you’re wondering if this is an outlier, I did some additional research. I searched for properties under $30,000 across Bulgaria and I found hundreds. 

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