Need some info (newbie)

[Damjan]

Hi there!


I was thinking that it would be great if I would have one more income of money/month and was considering an option of buying a property in Dubai (probably apartment) and then rent it.

I could operate with about 1 mio €.

I should probably first find a real estate agency in Dubai that would help me make this come true? Or is enough if I have just our real estate agency, here in Slovenia?

The main concern is that something would go wrong, making this kind of money transfers so far away. What are the main things I should watch out?

What do you generally think of my idea?(buying a property for renting)?

I choosed Dubai becase it always attracted me in some way, especially now when the city is rising so fast.


Best wishes,

Damjan

 

[financier888]

Hi there!


I was thinking that it would be great if I would have one more income of money/month and was considering an option of buying a property in Dubai (probably apartment) and then rent it.

I could operate with about 1 mio €.

I should probably first find a real estate agency in Dubai that would help me make this come true? Or is enough if I have just our real estate agency, here in Slovenia?

My advice to you is to plan a trip to Dubia and be prepared to spend two weeks and check out the market first hand. go through the papers and spend time travelling around the area to familiarize yourself with the market. With 1 mil pounds you will have quite a bit of buying power to find the right deal - DO NOT TRUST THE BROKERS until you meet with them and my advise is to ONLY use reputable ones and brokers that are properly registered with RERA.. Believe me, you will find many brokers delighted to relieve you of your funds, so - better you educate yourself on the market. Personally, I would chose the Downtown Burj area - one of the best locations and many good deals avaiable there- especially if you have cash - the prices have dropped over 30% and will drop further as your approach the summer... BUT - spend your time BEFORE you spend your hard earned money

The main concern is that something would go wrong, making this kind of money transfers so far away. What are the main things I should watch out?

When you find the right deal - you need to hire a good atty to ensure the seller has ALL the correct documentation and proof of ownership. Don;t try to cut corners and save money by doing it yourself - your investment is considerable and you want to protect it. correct? BUT be prepared to TT the funds once you make the deal (arrange this with you banker - by fax etc...)

What do you generally think of my idea?(buying a property for renting)?

time to buy is good and getting better as prices as still dropping - you can find a distressed sale and buy it right - but then you have to find a tenant - your locations will be criticial in this regard...

I choosed Dubai becase it always attracted me in some way, especially now when the city is rising so fast.

Well, it WAS rising very fast but now is in a slump like many other cities in the world. Over the last few months over 35,000 people per month were losing their jobs and many projects have been cancelled,. There is now an oversupply of units but these will be absorbed over the next three years,. more than 50% of the current housing and office stock has been bought by speculators - so these units will need to be purchased by end users and currently, with global business down, companies are not expanding and in fact, cutting back... It will take some time for Dubai to rebound, but it will


Best wishes,

Damjan

good luck and answers in BOLD

 

[dr_property]

advice

Hi there!


I was thinking that it would be great if I would have one more income of money/month and was considering an option of buying a property in Dubai (probably apartment) and then rent it.

I could operate with about 1 mio €.

I should probably first find a real estate agency in Dubai that would help me make this come true? Or is enough if I have just our real estate agency, here in Slovenia?

The main concern is that something would go wrong, making this kind of money transfers so far away. What are the main things I should watch out?

What do you generally think of my idea?(buying a property for renting)?

I choosed Dubai becase it always attracted me in some way, especially now when the city is rising so fast.


Best wishes,

Damjan

HI,

I was thinking that it would be great if I would have one more income of money/month and was considering an option of buying a property in Dubai (probably apartment) and then rent it.
...A good thought...you can still enjoy an average rental yield of 8% per annum (tax free)...with prices becoming affordable now is a good time to invest...

I could operate with about 1 mio €.
...can you please elaborate on this figure...

I should probably first find a real estate agency in Dubai that would help me make this come true? Or is enough if I have just our real estate agency, here in Slovenia?
I can be of help...what help are you looking for exactly?

The main concern is that something would go wrong, making this kind of money transfers so far away. What are the main things I should watch out?
Watch out for fraudsters...you can come to Dubai and open an account wherein you can transfer your money...or transfer to a person you can trust...sending money to DUBAI is very simple...


What do you generally think of my idea?(buying a property for renting)?
...that's the name of the game

for more information or details send me your exact requirements mail me on dr_property at mcbdubai dot com

Thanks