Quote:
Originally Posted by Investy
How did tens of thousands of Brits end up with city centre properties in places like Manchester, Leeds, Colchester, Bristol and Leicester that HAVE NO RENTAL DEMAND?
My fellow investors it is essential you do your own homework and ignore the 'advice' of agents. They will not be around to help you let your properties.
Exactly who is your future tnenat, where will he come from?
Test it right now. Call these selling agents and pretecnd you have a place ready to let. Lets see how helpful they are when it really comes to the nitty gritty.
Im not saying you cant make money in Dubai but you must recognise some poeple will not fare well. The trick is to decide which category you will fall into.
REMEMBER; All property is descibed as 'luxury', 'unique' or 'an investro special'. This is all just meaningless hyperbole.
ASK YOUR AGENT RIGHT NOW FOR ABSOLUTE 1005 PROOF OF THE WAITING TENANTS. Then go test the tenant demand yourself.
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Investy, i think the advise you give is excellent and any individual with little experience should really be taking notes. For me a development can only be described as luxurious if it has an elevator (especially if its 4 or more floors) and its spacious with a low density of apartments in an excellent area.
Everything these days seems to be luxurious in center of CBD and only a stretch of the legs away from amenities. Google Earth is a great tool i think as it give invaluable information on the location and the proximity to important locations.
I have seen pictures taken from developments showing how close the development are to lakes, sea etc and i cant understand how they get it to look so close. On Google Earth it looks like a 5 or more minute walk to the lake and a good 15 - 20 minute or more to the CBD. But its been described as a 5 minutes to the CBD by the developer and agent when this has to be impossible ! Research is the difference between poor man and a rich man.