Hi guys,
We are moving to Bulgaria this spring. Want to see if we can buy a house there. We also registered a company there and are considering hiring some local guys (general admin help, IT) though it might not be necessary and we won't have an office, at least not at the beginning.
However, we are also planning to go back to Germany in 2 years to raise a child, since our family and friends are there.
I guess what we are looking, if there is a good opportunity and not too much hassle overall, maybe get a small house somewhere close to nature to ourselves for 1.5 - 2 years, make it nicer, then decide if we can resell it or rent out via AirBnB etc. to tourists so it makes some money. Later in future, we might consider to move to Bulgaria again to settle down long term. Or maybe just sell it. Or keep as our holiday home and rent only occasionally.
We never rented out property, but we are travelled a lot. I mean like A LOT. All over Europe, in Thailand, USA. My girlfriend is a wedding planner so she basically goes to like 10 different places a year, plus we travel a lot privately too. So we should have a good sense for what is important for people who rent holiday homes. Also we speak fluent Russian and German, which might help with marketing the property.
Bot our jobs are remote, so what we need is a good stable internet. Doesn't have to be super fast, but reliable. I've read in cities you can get really good internet, but in rural areas it is hit and miss.
What do you think?
Is it realistic to resell the house at least for the same price (cover loss on the fees), considering we will try to improve it?
How much hassle is it to buy a house in cash?
Ignoring the marketing bit, how difficult is it to rent the property when we are not there? Is it easy to find good agent to look after it?
Which scenario do you think is most realistic?
We won't suffer much if we don't get steady rental income or sell it with profit, but it would be nice extra.
So many questions!
Any advise is appreciated.
Thanks!