new style of investment-BB car parks

[iloilo]

Originally Posted by jorgio12

I'm thinking of investing in to a new style of property investment.
buying car prks in Business bay.
it looks very lucrative, and very cheap entry price -one car park is 100,000dirham
the agnt promising 35%-40% per anum. I feel like it is going to be a great investment as when people buying an office or appartment in BB they only getting one or two parking spaces and they for sure will need more as in an office there are more thn only two employees that will need carparks.
anyone have any comments about this new investment idea before i go and do it?

Gio, This concept looks lucrative. I am highly interested as well as a bit scared of anything sounding ... overly lucrative. Nevertheless, please pm me the details. I have a couple of colleagues who are also interested as the initial outlay is so manageable. Thanks.

[jorgio12]

Originally Posted by iloilo

Gio, This concept looks lucrative. I am highly interested as well as a bit scared of anything sounding ... overly lucrative. Nevertheless, please pm me the details. I have a couple of colleagues who are also interested as the initial outlay is so manageable. Thanks.

will dosend you a pm i'm happy to spread the word

[Roshan]

Originally Posted by jorgio12

I'm thinking of investing in to a new style of property investment.
buying car prks in Business bay.
it looks very lucrative, and very cheap entry price -one car park is 100,000dirham
the agnt promising 35%-40% per anum. I feel like it is going to be a great investment as when people buying an office or appartment in BB they only getting one or two parking spaces and they for sure will need more as in an office there are more thn only two employees that will need carparks.
anyone have any comments about this new investment idea before i go and do it?

That's new to me

BB car parks willl not come into action till 2010. BB will only come into the market ( that too partially ) in 2010.

Why do you want to block that money. That Dhs 100,000 could be a down payment for a small property probably in Ajman, wher the returns if put now is higher.

Roshan

[jorgio12]

Originally Posted by Roshan

That's new to me

BB car parks willl not come into action till 2010. BB will only come into the market ( that too partially ) in 2010.

Why do you want to block that money. That Dhs 100,000 could be a down payment for a small property probably in Ajman, wher the returns if put now is higher.

Roshan

you right about the down paymentamount but once you put the down payment you will need to mcome up with more money to comply with the developer payment plan as the total price of the property in ajman will be more than 100k dhs.
over here i'm looking at total investment of 100k and no further payment needed.
you can say probably can put 100k down payment in ajman and than resell before my next payment, but this is a gamble i'm not in position to take because if i'm not sell in time i dont have mony for the next payment.

[Roshan]

Originally Posted by jorgio12

you right about the down paymentamount but once you put the down payment you will need to mcome up with more money to comply with the developer payment plan as the total price of the property in ajman will be more than 100k dhs.
over here i'm looking at total investment of 100k and no further payment needed.
you can say probably can put 100k down payment in ajman and than resell before my next payment, but this is a gamble i'm not in position to take because if i'm not sell in time i dont have mony for the next payment.

You are right, distress is not the name of the game. What I was thinking is coupling 100K down payment with bank finance.

Good luck. Nobody thought about this concept. In time to come Business Bay would have a parking and infra structure problem.

People who buy with imediate access to main road will have easy renting.

The car park plan should be concentrated on inner buildings and not on the boundry of BB.

Roshan

[jorgio12]

Originally Posted by Roshan

You are right, distress is not the name of the game. What I was thinking is coupling 100K down payment with bank finance.

Good luck. Nobody thought about this concept. In time to come Business Bay would have a parking and infra structure problem.

People who buy with imediate access to main road will have easy renting.

The car park plan should be concentrated on inner buildings and not on the boundry of BB.

Roshan

I cahecked with the company and they are concentrating on the busiest most conjested traffic areas in bb in locations with demand