I renovated my first property in 2006, a basement apartment in an apartment building in Athens, Greece, converted illegally from a basement storage area.

Greece goes belly up it will take the market it with it for a little bit.

Ive been investing in Athens ,Greece for a while now, and the fact that you cant take any kind of loans here even if you are greek make things go slower so i started to look for a diffrent alternatives in europe .Is there anyone here that deal in europe and want to share ?

Property has an upper and lower rental and it has potential to assemble with neighbours for high density. 

Do the downstairs neighbours want to sell?  

Fear over Greece, the FMOC maybe raising the fed funds rate 15-25 basis points (trivial) sometime in the next year, low oil prices, who knows why...  

I think the trend will swing back from renting and group psychology about "rising real estate values" will kick in just as it did 10-15 years ago.Yes I think we should keep buying to get more pieces on the board (boats in the water to rise), but completely disregard any potential appreciation both in terms of our return calculations and psychologically (in other words, don't get caught up in the coming "real estate boom" psychology and buy marginal properties or cash flow negative properties expecting appreciation).That may mean doing fewer deals but it's a price I'm personally willing to pay.There are also some broader economic issues which could throw in some systemic risk and gum up the works, such as Russia-Ukraine, the Chinese economy, the European economy (and some of its weaker members like Greece), etc.So in my mind I think there are three possible scenarios: 1) 1/3 likely to have steady good growth in RE values (scenario of U.S. economy continuing to do reasonably well but little/tepid real wage growth), 2) 1/3 likely to have another boom (scenario of U.S. economy doing very well and finally having real wage growth for the first time in a long time), and 3) 1/3 likely to have the train get derailed by external factors such as the world economy, some kind of war, etc.In all of those scenarios it seems to me that good, cash flowing properties will be good to have.

Dawn,The house is looking good.I'm not surprised the neighbour across the way.  

Greece received the honor of being the first major country to default on an IMF loan.

no one ever questioned him about the 500 days.Everything seems to be gravitating towards this september and the US appears to be ground zero for this upcoming crisis.we have already seen the first rumbles with the shanghai market collapse and the greece debacle.