Distress Sales,Resale or PreLaunch HELP PLS!!!

[Safrica]

Hi
I am new to the Dubai property market, Am i still getting in at the right time?
I need some understanding on this market
I am looking at investing in Dubai

1st year payments invesment $100 000 to $250 000
My concerns are
Example: Ocean Heights resale from aed 1400 per sqf, from damac today around aed 2500
I would like to get into a investment on pre launch or buy a distress sale at decent value.

Would it make sense to spend $250000 buying something outright or
using it on a distress sale and carry on payments or going into a prelaunch and buying big.

If any private buyers are looking at selling there property purchased on pre launch and looking for a decent profit should contact me

Is there any good pre-launch propertys by reputable agents coming up,

My other concern is that if you find a property from a private person or a unknown agent where can this money be safely transfered .

Normally in other countries this money is first transfered to a attorneys trust account and after the sale it is transferred to the seller.

Please advise

ialaher@freeway.co.za

[Prop Guru]

Its never too late to get into investments in Dubai or neighboring cities. Returns are still going strong. There are a lot you need to take into consideration; for eg are you looking to buy a pre-launch or ready possession resale property (expect the prices to be 80%-100% higher that the original Price).

For Pre-launches, The developers usually have a 2-2 ½ yr payment plan where you pay 10% every 3-4 months and the balance of 20%-30% will be due on possession of the property. Your first yr payment can vary depending on the price of the property. Currently properties are starting as low as $125K where you will pay about $40K in the first year.

I always recommend people to start slow & Small and get a feel of the market. Never put all your eggs in one basket, is my motto
There are a few pre launches coming up, I also suggest a lot of people to go with flexible payment plan where the developer allows you to pay for the property over 5-7 years (rare but achievable). Based on your resources I could recommend a few launches. I have purchased 20 units in the Pearl (Ajman, Emirates Road) for about AED 395 directly from the developer (current price from Developer AED 435) a couple of weeks ago, I could try to get you the same price or suggest other properties
Because majority of my investors are from the US, for security and comfort, I always make my clients transfer the money to the developer. However you should be ok to transfer the funds to a reputable real Estate company. There are no direct escrow A/C’s. all the money goes to the developer, this applies to pre-launch only not resale.

[mpat]

Originally Posted by Safrica

Hi
I am new to the Dubai property market, Am i still getting in at the right time?
I need some understanding on this market
I am looking at investing in Dubai

1st year payments invesment $100 000 to $250 000
My concerns are
Example: Ocean Heights resale from aed 1400 per sqf, from damac today around aed 2500
I would like to get into a investment on pre launch or buy a distress sale at decent value.

Would it make sense to spend $250000 buying something outright or
using it on a distress sale and carry on payments or going into a prelaunch and buying big.

If any private buyers are looking at selling there property purchased on pre launch and looking for a decent profit should contact me

Is there any good pre-launch propertys by reputable agents coming up,

My other concern is that if you find a property from a private person or a unknown agent where can this money be safely transfered .

Normally in other countries this money is first transfered to a attorneys trust account and after the sale it is transferred to the seller.

Please advise

ialaher@freeway.co.za

Hi

If you have around 150 k $ ready to put in, just look for something which will be near to ready so that you can expect positive return cash flow thru renting or resale. If you go for pre launch and all , it will hold up your money for long and will not be that easy to re sell since it would not have gone in to building phase.Of course in pre launch you are looking at more return over a period of time.

[Roshan]

Originally Posted by Safrica

Hi
I am new to the Dubai property market, Am i still getting in at the right time?
I need some understanding on this market
I am looking at investing in Dubai

1st year payments invesment $100 000 to $250 000
My concerns are
Example: Ocean Heights resale from aed 1400 per sqf, from damac today around aed 2500
I would like to get into a investment on pre launch or buy a distress sale at decent value.

Would it make sense to spend $250000 buying something outright or
using it on a distress sale and carry on payments or going into a prelaunch and buying big.

If any private buyers are looking at selling there property purchased on pre launch and looking for a decent profit should contact me

Is there any good pre-launch propertys by reputable agents coming up,

My other concern is that if you find a property from a private person or a unknown agent where can this money be safely transfered .

Normally in other countries this money is first transfered to a attorneys trust account and after the sale it is transferred to the seller.

Please advise

ialaher@freeway.co.za

Off plan and ready proprties are like two sides of the coin. I have gone through the pains of off plan properties which are not delivered on time.

My next venture would be to buy ready property with as much down as possible ( not exceeding 50% ) and rest financed by the bank. Draw the ratio so that you are on positive cash flow.

Both these plans have their own pros & cons. There will be distress sales around the corner. Start contacting brokers and give them a proposal to find a property and at the same time a tenant, thereby you do not have th hassles of finding a tenant.

Deal with big and reputed brokers, in that way you know that your money is safe.

Regards

Roshan

[mpat]

Hi Roshan
How r you ?
Any specific problems you came across regarding your off plan investment ? Since you said pain in off plan...
I visited my unit yesterday in sports city and it started further digging after 2 months HOLD.
Bye

[Roshan]

Originally Posted by mpat

Hi Roshan
How r you ?
Any specific problems you came across regarding your off plan investment ? Since you said pain in off plan...
I visited my unit yesterday in sports city and it started further digging after 2 months HOLD.
Bye

Hey mpat,

I am fine. When I said pain, it means going through the delays of off plan construction. As I said off plan vs ready properties have pros & cons. Off plan gives you a chance to grow with the property but ready property gives you ready returns provided the numbers are right.

Regards

Roshan