samsaf,
I think before you leap into the market, there are some funadamentals that you need to look at.
What kind of investor are you? Do you wish to trade properties or do you wish to own for the long term.
I believe that the only reason to flip a property is because you need cash right now for something, or alternatively because you cannot get a mortgage.
I would suggest buying a good property like Emaar, take a 90% mortgage and hold for a longer period. The result is far less effort, stress and importantly bear in mind this achieves similar results to flipping. Leverage here is a key element.
As an example, I bought in the Greens 18 months ago, took a mortgage, so my only payment was the initial one. I sold last month at 55% premium = 3% per month. I think the really slick operators here may achieve better results through flipping, but many of them do this for a living and when you consider the idle time of their cash, the amount of effort required, you must ask yourself if that really is doing better. For the man in the street the mortgage longer term hold is better.
If the bank will give you a mortgage, it means the bank has faith in the developer. A lot of the northern emirates properties do not offer mortgages.......not to say its a bad investment, but think of how your buyer is going raise funds to buy from you.
I will also look at flipping, but I am putting another mortgage deal in place first.
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