Property investment in Turkey --- please advise?

My partner has been insisting to invest in international property in Turkey, Bodrum. We came across a stand at the home expo and since then she is very excited and has been raving about it every day. The property is a apartment in a resort project which is not even complete. And the fact is you dont own the apartment solely, as its not freehold or leasehold, but you are part of a company. The company rents out the apartment and gives a share of the rent to you. You allowed to stay in your apartment for only 3-4 weeks per year, rest of year it will be rented out to tourist. But thing is i am abit wary about this. Does anyone know whether this kind of investment in Turkey is a good idea.

One other thing.. she wants to get 2 other friends involved in the investment so it will be me, her and 2 of her friends... (4 people in total)

Any advice please as im really confused ?? thanks in advance

ps. Cost of investment is 拢45,000 in total

be very careful, turkey as a very weak economy, another earthquake or rioting and their economy would take a pounding. what would your property be worth then. if i was you i would look for a safer prospect.

Turkey currently a high risk investment, others countries are a bit safer.

Scam.
I have some swampland in Florida I will sell you.
Don't be gullible.

First off, friends and family are the worst two things to mix into a business.

They have the knack for getting your radar (business 6th sense) knocked out of commission. It's also harder to tell them "NO", when a business proposition looks and/or feels bad.

Just the little bit I'm seeing here tells me the following...

1. You don't have the money to swing this deal by yourself or with one other partner.

If you need other people to move this deal along, it could get dicey later on. I'm assuming there's going to be ongoing expenses with this deal, such as maintenance, association fee's or whatever they鈥檙e going to call them.

What happens if the other partner(s) decide not to pay up? Do you have the stomach to sue them in court? If not, reconsider the deal.

2. You've never land lorded before and don't understand the pitfalls that are possible.

Long distance land lording is difficult to do. It's impossible in another country.

If there's any dispute about the contract or the business, and how it's being conducted, you'll have to rely on that country's court system. Getting redress in a foreign country's court system is very expensive and it's difficult to interview and find a good, effective attorney (solicitor).

3. You don't understand the local real estate market.

If you knew the local real estate market, you would know straightaway if this were a good or bad investment. You might not be able to verbalize it immediately, but you would get a 6th sense (gut feeling) about it.

IN SUMMARY:

Don鈥檛 let friendships steer your business dealings they only complicate things. Leave friends as friends and business as business.

That being said, if you don鈥檛 feel this is a good deal for 鈥淵OU鈥?than speak up now. This deal has to work for you; it鈥檚 your money not your friends.

If this deal goes south on you and you didn鈥檛 speak up, you鈥檒l regret it. Say no when you have the chance, or it may destroy your friendship. You鈥檇 rather hurt your friends feelings now, than destroy the friendship later, wouldn鈥檛 you?

Good Luck, Hope this helps out in some way.