All Forum Posts by: Sanzhar Zikirov

hi! Generally speaking, women are more on safe side, compared to men who are more risk takers. I explained my wife, that we need to purchase a property (we already have our own SFH) and guarantee the future for our kids. Before kids grow up, the property should make some money necessary for kids' education. I hear my wife's positive comments like 'now both of our kids are safe, they dont have to worry about the housing in the future', and she she's so happy about it, and I have motivation to work further in REI. Now she fully supports me in this venture.

Hope your family will be good support for you!

thanks Jon, Marie, Kara for your comments! I'd like to share with some info here.

Selling off these props - tough, since the supply in the apartments in newly developed resid.blocks is unusually high in my toen, and purchasing power of the population is low. So now to my opinion is not perfect time for me to do this. 

Renting out - prop 1 needs around 7-10k usd, i have only 5k and still cannot agree with my wife on taking a loan from a bank, coz for Kyrgyz people it is perceived as a very risky journey. So basically, i wilk be able to save 7 k till the year end then do the remaining works and hopefully rent it out for 700-1000. The numbers are so vague coz our currency ex rate is fluctuating tremendously lately.

Prop2 - i will finish paying for it by the year end and put 5-7k into finishing it. If i get prop1 running by that time i will be able to collect that money by march'16 finish it and rent. 

Comparing with moscow - no, you can't do this in a right way, our markets are different, moscow itself 3 times bigger than my whole country. 

About funding - now we have a problem. Developers cannot get loans from banks to start building, the individual RE investors cannot get loans to buy finished or pending properties. Now therr are signs of construction business failure which may come pretty soon. 

I did very careful research before getting into these two projects. Both developers are reputable ones, they are sticking to project schedules, and the quality of buildings are good. And both locations are good. So math is as follows:

Prop A. Total paid 75k from2012-2014. Repairs 5k, need another 7-10k. Rent 700-1000.

Prop B. Total paid 33k from 2014, 7k payable, 7 k for repairs. Rent for 350-500 usd no earlier than may/june'16. 

Bank loan % is 16.

I got problems with analysis. Need your help.

Hi dear BP community. 

i'd like to introduce myself. I am beginner RE investing field in Bishkek city, capital of Kyrgyz Republic, former USSR state, located in the Central Asia.

I am a corporate employee working full time, however started saving money and investing in newly buily developing multi storied condoes since 2012. Except my own SFH with lanf plot, I have one 90sqm condo built, located on city center, it is an apartment with 2bedrooms and open kitchen+LR, but interior works left unfinished, bought it during design stage. Last year i got engaged in another developing project a residential condo, i signded contract during designing stage for 52sqm 1 bedroom apartment, which is to be finished by the end of this year, also interiors and furnishing is up to me. Both projects are financed by our (family) savings. So I cant finish decor of first project because second contract requires monthly installments till jan 2016.

My plan was 1.benefit from property appreciation coz I signed contract for around 850$/sqm the first one, now it might cost somewhere between 1300-1400. The second one was 780$/m2, hope by the end of construction ot will rise up to 1100-1200.

2.i want to rent these properties out. Except from contractual payments, i have to put 15-20 k usd for interior/decor/furniture and i will be able to rent property 1 for around 700-1000 usd/ mon, and latter for 350-400usd/ mon.

Tought thing is that our country is facing cash shortage, property prices going down, local currency (som) ex rate falling, and people are unsure about the future economic situation. For this reason i might adjust my initial plans on rental revenue.

You guys might ask why not gey a loan from a bank. I say shortly rates are horrible here 16-20%/year in USD and 20-25%/year in local currency. What is Hard Money Lender in US is basically regular bank in Kyrgyzstan. And max period is 5 years.

Reading about the achievements of BP fellows i just feel like I did nothing in past 3-4 years. For this reason i decided to learn more about RE investing and determining my niche in this business.

I do not plan investing outside of my country, since i like to succeed in here first.

Hope to listen to your advices and appreciate yout comments