Looking into property investment

[wiki17]

Hi all,

I am a newbie in property investment. U can say i didnt started yet to invest. I have started professional life just one years back. Now i plan to make inroads in property investment. But i need advice from you expert guys.

I havent saved any money yet. But i m thinking to get some loan for down payment to buy some resale property already ready to accomodate. The rest i need to pay in flexible installments (by getting rent). In this way i ll bear the loan installments which i would take from bank and the rest of the property installments i like to pay by getting rent from the property.

How does this plan sounds to you guys... Please advise on some oppurtunities like this if this plan is possible to implement in the world of property investment.

Regards,
Wiki

[Landvest]

Sounds good if you get a very good amount to pay for a good value property that is ready to make money

[Raymond Kuceli]

Always remember that it is usually the hidden costs that surpise you. Land rates insurances bank fees, so when you do your calculations make sure you take them into account. I would say start studying the market you want to enter but also start saving some money. When you buy sometimes the bank will not cover the initial purchase costs like commission, mortage insurance. Just mak sure you can cover the difference. Good fortune to you if ever you are looking to buy in Dubai let me know.

[wiki17]

Hello Raymond,

Thank you for your reply. My prime intrest is indeed to look in UAE Real Estate....

I am not sure if i will be able to have a buying range in Dubai, but i can also look into Ajman, Ras Al Khaima or Abu Dhabi freehold property.

Please advise.

[Raymond Kuceli]

HI Wiki

Its hard to put a range on it but I will see what i can do. Email your comfortable buying range at raymond@tamimiinvestment.com

Regards

Raymond

[agentyumi]

Have a careful and detailed research on the property that you’ll be buying; especially the location and its market. You said that you have to loan in the bank for the downpayment; consider the payment scheme, there are some lenders who failed to pay their debts because of its high interest. But if the property that you would be buying is really marketable, then you don’t have to worry. Good luck!

[wiki17]

Hello agentyumi,

Thanks for ur advises.

That is y i m looking something in Middle East with prime interest in UAE or Qatar.

[cebuinvesment]

try to invest in the philippines. like in boracay island.

[HORIZON]

Hi Wiki,

if you want to rely only on rentals - which I do not recommend - please check how long is the rental season in the country you are buying as well as if there is a possibility of oversupply in rental market in the near future.

Also check who can actually manage your property, can you find trustful agents and how much do they take.

The property has to have a considerable benefit in case the market goes down - either beachfront, or central location, or sea view. Choose a country which has an economic growth and check what are the predictions for it in the next few years. Also is the government supportive to investors.

Very important point are taxes, as this also adds up to your expenses: capital gain taxes, rental taxes, property sale taxes and similar. Always have in mind a market exit strategy in case your plan does not work - can you sell the property at least for the same price to cover up your loan? How soon can you do that?

[Rahatayaz]

Hi Wiki,

Well if you are really interested to invest in middle east then invest in UAE, specially in Ajman, coz these days its on boom due to the introduction of Escrow Account, new Airport and new free zones, simple is that it will be the mini Dubai, and as we knw pricing are too high in Dubai so investors are moving to Ajman for good ROI, pricing in Ajman are at the moment is starting from AED 550/Sq.ft. and are expected to be high upto AED 800/Sq.ft in December. while in Dubai the cheapest price is around AED 1400/Sq.ft.