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Originally Posted by dubaiboy
Thanks for very good advices Roshan,Actually you are right and I agree with you 100 % . but the problem is I got 2 units there and I want to invest some money in india so it is very important to get rid of one, Though this one construction is started and contractor is the same who is building Cricket stadium at present in DSC.everything is good and payment goes to escrow from Jan for all developments in Dubai.
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Never invest in 2 similar units in the same area unless you have withstanding power or with the intention of immediate flipping . In ideal situations investors tend to flip one and with that finance the other, but looks like in your case the project has not taken of and the value has not appreciated
So how will you keep the cake and eat it too :- Do you have any properties in India which are under finance or mortgage fully paid. In such cases start talking to banks and take a refinance on the ready properties in India. A friend of mine is getting a refinance option of 30 lakhs on his ready property in India to buy a property in Dubai.
Get a relative or a friend as a co investor - OR - with the option of paying him a higher interest for your Dubai property. Could be messy if the friend or relative is not understanding.
Think of options and you will find the solutions.
Good luck.
Roshan