real estate investing for cash flow abroad

[Mem Sayer]

Hi,

Im an aussie living on an island called cyprus. After reading rich dad poor dad and doing some research on the net i stumbled across this site. Id been in the restaurant business in cyprus for close to 10 years and realised i wasnt creating any kind of freedom for myself whether it be financial, time or emotional so i decided to get rid of it. i wasnt an easy decision it actually took me a few years to bulid the courage and take the step. I spent alot of had earnt cash on somebody elses property that added value to. i didnt have any plans for the future but i knew id find something that would create the freedom i wanted. im 37 now and want to get into the real estate world.

Ive been away from australia for 10 years and havent been able to follow the market trends but i know the interest rates are below 4% but house prices have increased significantly.For example i bought my land for 90000 and built on for 120000 now a block of land the same size is around 300000 and the median price for a house in my area is 420000.So i have equity that i could re invest for. Would you reccomend refinancing? By the way this house is rented out for 360 a week but i have been putting the extra towards the home loan. Do you think i should sell and buy another house with better cash on cash return or just pay the principle and interest and make use of the cash flow generated? I havent spoken to my mortgage broker for a few years due to living overseas and being busy.Thats something i ll be doing next week.

On the other hand im living in north cyprus which is a divided island with beautiful beachs and mountains amazing climate but is not recognised. Theres peace talks at the moment between the north and south but not sure what the outcome will be. Bank loans are only for 10 years and interst rates for GBP is araound 15% p.a .( houses are sold in gbp). Theres a growing number of students in cyprus and a high demand for student housing but not enough supply. Students pay a year upfront plus agent commision and deposit. Brand new Apt units go for around 45-50 000 GBP and rent for about 400 GBP per month. The problem is that you cant really invest for cash flow as the loan terms are short ( 10 years) and will have negative cash flow as the monthly payments will exceed 500 GBP. How can i use the 1 year advance rent payments that create instant cash to my advantage? Is there anything that you can suggest?

As i said ive been researching and reading about real estate investing the last 3weeks and would greatly appreciate any suggestions or opinions that you guys might have.

My aim is to invest in these 2 countries so im able to spend time in both countries and have cash flow through my rental properties. Sorry for the long post