Investment in Egypt

[Janoulaki]

Hi all,

just looking for people interested in investing in Egypt.

In few weeks I will be launching purly educational buying guide about Morocco.

I am interested in writing one guide about Egypt. Is there anything you would like to learn about Egypt. I will be going there to do the research about buying process and bits and pieces to know so nobody will be ripped off by any agent.

Please reply to me here or to my email directly,

J

[awahee123]

Hi I think contractual issues might be good for everyone to learn about,what happens if a builder doesnt deliver what he has promised ,where do we complain, what can we do,issues such as these would be very helpful for everyone.

[Janoulaki]

Issues like that are in the guide

The most important think what we try to educate people on is to make sure you appoint your own lawyer and that your contracts and preliminary contracts are tailored to prevent these things.

As well we tell people to try to do their ownd due dilligence as this is the most important part. Forum such as this is one way of doing it.

Thank you for your ideas I will implement them more into details for each country I will write a guide on.

[dave99]

Hi

Why will your guide be any better than the others already published - many of the "big boys" have this kind of guide and give then away as a "come on" - something independant will have better credibility but how would anyone know that.

I suspect that this forum can, and already has, given every bit of good advice that there is, many times - what is really needed is a name and shame board where documented evidence of problems can be "filtered" by good moderators and used to good effect by everyone viewing - those listed can reply on the board and let everyone judge for themselves.

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[Janoulaki]

Hi Dave,

The company I work for is not a developer nor agent. We don't sell property we educate people and give advice, we do our due dilligence and only because of the law and regulations we can't say to clients whether this or that agent will rip them off.

We can however recommend who we know and who we used already and have done the due dilligence.

I am not interested to write a guide which is on 3 - 4 pages. Our guides are very specific and get you not only to think before you do anything but will provide you with a lot of specific information.

Answer me please:
why even it is mentioned and said and forums are full of the tips and "big boys" wrote a guides, why there is enough space for people to get ripped off?

If you can explain me that, then tell me.

The Overseas Guides Company is here to write a guides and help buyers to understand what the buying process is (for instance in Egypt). After reading one of our guides you will know what should be in your preliminary contracts and you will understand how developers and agents make their money as well you will be aware that you can add predcedenses in your contract which are simply linked for instance to getting a mortgage in specific country.

We aren't giving guides out as you think, we are not marketing company as a lot of these "big boys" are. We put nothing into marketing, we might sell some guides for very little price, but only because we need to pay for the internet and if you would like to have a hard copy, we will print it.

There aren't any advertisments in our guides, it is purely educational writing. And I am not promoting it, just protecting myself and the fact that guides are needed, so people can read and don't need to spend hours researching websites.

Any more questions?

Janoulaki

[dave99]

Originally Posted by Janoulaki

Hi Dave,

The company I work for is not a developer nor agent. We don't sell property we educate people and give advice, we do our due dilligence and only because of the law and regulations we can't say to clients whether this or that agent will rip them off.

We can however recommend who we know and who we used already and have done the due dilligence.

I am not interested to write a guide which is on 3 - 4 pages. Our guides are very specific and get you not only to think before you do anything but will provide you with a lot of specific information.

Answer me please:
why even it is mentioned and said and forums are full of the tips and "big boys" wrote a guides, why there is enough space for people to get ripped off?

If you can explain me that, then tell me.

The Overseas Guides Company is here to write a guides and help buyers to understand what the buying process is (for instance in Egypt). After reading one of our guides you will know what should be in your preliminary contracts and you will understand how developers and agents make their money as well you will be aware that you can add predcedenses in your contract which are simply linked for instance to getting a mortgage in specific country.

We aren't giving guides out as you think, we are not marketing company as a lot of these "big boys" are. We put nothing into marketing, we might sell some guides for very little price, but only because we need to pay for the internet and if you would like to have a hard copy, we will print it.

There aren't any advertisments in our guides, it is purely educational writing. And I am not promoting it, just protecting myself and the fact that guides are needed, so people can read and don't need to spend hours researching websites.

Any more questions?

Janoulaki

"rip offs" as I hope you realise, people are "sold" something rather than buying - many rip off are on the back of greed by the buyers who think that they have found a "bargain" and the do not take the time to do much checking, NO guide will ever help these people since they will never see it, other more prudent buyers who do some research, and maybe find a "guide", it will most likely be one of those from the "big boy agents", where much of what you will write is covered anyway, then the problem is that the "agent" takes NO responsibilty AT ALL for anything that goes wrong and simply take their commission and blame the developer, others may be rip off by agents who never pass on the money, or make promises about developments that are not covered by information from the developer.

Lets assume that your guide is PERFECT, cover all the angles etc, if you are not going to get it into the hands of the vast majority of potential buyers it will be of NO VALUE.

So how do you plan to "get it out there".

I for one would love to "give it away" on my web-site but then how do I get people to beleive it is any better than any other guide.

Maybe this forum can "list" or "approve" your guide and make it available through moderators etc to all new members, or guests in some way - now that would be helpful.

But how do WE all decide that it is accurate and complete !!!.

[Janoulaki]

Look

I am not fighting nor arguing with you.

We only run the website and use our newsletters.

I am more than happy to help to anybody, that is what I do. The only reason why we wrote the guide is that our parent company which is doing currency exchange had a lot of enquiries from their clients to do that.

We have wrote the educational guides which are available to download or get a hard copy.

If anybody writes me an email with the question even about what to do once they bought and want to sell and how much capital gain tax will they pay or what about the inheritance tax etc. I will simply answer, with not promotion of anything with no advertising or asking for money to advise people. Do you get it?

The guides are here for people who are in the stage of thinking to buy and don't know where to start. Is it kind of clear what I mean by that?

How I started this thread was that I asked what people would like to know about Egypt and buying/investing there. Is it that wrong to ask? There will be always a question which wasn't answered.

What I have seen are the guides of the specific agents/developers which will answer to your questions this way:
Q: Do I need a solicitor to buy in_______?
A: Yes, you do but we will provide one.
A: Yes, you need to have a solicitor but the developer has got one in the country.

You know, this is what I am talking about that people who don't think or don't educate themselves before they buy are facing these answers which are completely leading to the scam. (not all the time but quite often)

There are people who want to buy or invest their excess capital but don't have time, after coming from work (looking already 10 hours to the screen) to look at the internet again and to go and hoover and keep researching, not knowing what to believe in etc.

These people will read a guide which isn't promoting one developer which isn't telling you about specific investment in a pink colours and how good and nice it is there. This guide will tell you about NORTH MOROCCO to be carefull and that SOUTH MOROCCO feels a bit safer and that people are different there etc.
It will not tell you that Vision 2010 guarantees 30% capital growth, but will tell you that there is a project and that it is targeted to improve the tourism etc.

Please do not get me wrong, as I mean purely educational means educational with explanation of the investment strategies what you want to apply. Not everybody out there knows and understands what buy to let will mean for them, what for instance to share the profit with the hotel means (not everything is profit straightaway).

[dave99]

Thanks

The more you share the more I understand.

What you are doing is VERY important and I'm happy to help, my concern is that once you have a "good" guide that it will not get a wide exposure and therfore will miss your target audience to a large extent.

Now that I can see that you do have financial interest in the guide (your currency parent) then I'm less happy than before, but if they are paying then maybe we should wait and see what comes out.

One thing on currency - it is VERY difficult to get anyone to give a good service and rates for Egyptian pounds - maybe you could ask for "todays rate" and post it as a comparison - I'll open a thread for your to post it on.

[Janoulaki]

Thank you,

I do hope that now you believe why we are trying to educate people. Main point is not to get ripped of and to think about the currency strategy before completion.

The currency companies can do a lot, depends on the service and rates.

Please feel free to open a forum for me so I can pass the rates, however nobody is able to trade in Egyptian pound as this is not a stable currency, however, we have entered the exclusive contract with a developer and our company might need this account and we will try our best to trade in it.



Any more questions
feel free to send me an email

[dave99]

Hi

Just had a look at the current Guide on the web-site and it seems to me that this one is a selling vehicle for the currency company.

It might be well intentioned but it is still a link to selling something !!!

Will the guides on Egypt and Morroco avoid ALL connection with this currency company, if not it is not going to get the independance that will make it "different" to all the others.

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