El Oasis de Marrekech - Opinions

[DC]

Dear All,

What are your opinions on this development? Good, Bad.

Good, 10 year rental at 10% secured with UK tour operators and bonded

Bad, Hefty Furniture pack fees

Please be fair and just in your comments

 

[investor27]

Am i correct am assuming this is the dreamworld development?

 

[Investy]

I heard Tony Blair is buying a property near this development, but could be nonsense!

French Presidents new GF was also reported to be looking for a pad in Marakech. According to a Sky property programme Marakech is a gold rush.

10% for 10 years guaranteed sounds too good to be true?

 

[manor park]

Investy

This is being offered on Tanjah as well, so assume it will be the same rental company.

MP

 

[DC]

10 years at 10%

Investy it is true. Actually very true.

Ok so what is the downside, i am doing the financials now, all of them, from taxes, to monthly rates, to mortgage rates to admin fees, to furniture packs to mortgage set ups, to closing fees.

Even 10% for 10 years does not go far! I am doing.

And yes, there is another rental guarantee at Tanjah, the rental guarantee as far as I am aware is for 5 years at Tanjah, not 10 years.

We are doing the number crunching and I am waiting to hear from the guaranteed rental people who are currently in Morocco.

The guys we were working with before in Morocco always said Marrakech was the best place to invest in morocco, so for us that was not new. The market is getting more demanding now. But like all the developments you have to do all the financials and see the real numbers.

Investy though it is true, and the guarantee is cast iron (apparantely, I need to see it) and as said I have spoken to the mortgage guy, and doing all the numbers, should be done by tomorrow for a real look, at the real numbers.

I think you will need around 50k euros to get, with all upfront costs, cheapest units are 100k slightly less, but with 100k guaranteed income, minus some costs, there is very little in the market offering 10 years rental guarantee.

But investors have to be realistic as well, it is not all gravy it is a balance of money in and out.

 

[DC]

The rental company are separate , like the mortgage guy, like the lawyers, and it needs someone (me) to tie it all together and look at the real numbers.

Mortgages in Morocco offered on this at moment are capital repayment for example. My plan was to generate more positive cash flow is to take a longer mortgage possibly, and sell year 10. Downside slightly more tax to pay.

It is a 10 year hold and sell in my opinion. Rental is zero use, but a discount from the rental company.

 

[manor park]

Goldberg

A ten year is being offered on Tanjah, I was at the open day when a representitive of the company outlined the schemes on offer, and you can take the option of a ten year. I am still waiting to see the written contracts and I believe that the furniture packs are expensive but are a requirement of using this company (I am sure you know which).

MP

 

[DC]

Yes, let me ask about Tanjah. Yes the lady with the furniture was suppose to call me 2 days ago, I did a very good financial analysis on Marrakech I think it is important to do on Tanjah as well. I had to call lots of different people to get the figures, it surprised me no one had done it before inhouse. Actually it was the first thing I thought that would be done. Different people see things differently. Let me find out, thanks dc

 

[Investy]

Goldberg, I thought in other posts you were'nt a fan of Morocco?

BTW - I looked long and hard at Calabria last year which was one of the areas you were discussing, but decided it was'nt a goer - too short a rental season, no developments that really rocked my boat. Honestly I think Morocco is in a different league to places like that given the big mega developments designed to extend the rental season.

 

[Lee Filkins]

subject

"I heard Tony Blair is buying a property near this development, but could be nonsense!"

Tony Blair will not be safe in any Arabic Country. A paranoid and control freak like him, will never buy ot step foot in a in Country where even a child of 10 year of age has no time/respect for Tony Blair.

I think the next gimmick by Dreamworld would be that George Bush, Berlusconi, Aznar are all buying one too.

I recall when Tangah was launched Donald Trump was going to buying and investing in it.

 

[DC]

Investy we always look into projects that are offering clients a 10 year rental return. It is about numbers. Reference Calabria and short season, again it is down to the management and rental companies in place and the sorts of products in the market. Calabria when prices were lower was a better market, it still is an alternative to the costas of Spain and suits some buyers.